Chairman’s report on the financial situation
I am pleased to submit the report on the EIJBRG financial situation in conformity with Section 474.1 of the Cities and Towns Act. As a requirement, this report must be made public at least four weeks prior to the tabling of the budget for adoption by the EIJBRG Council. The report must also provide a correlation of financial information based on the previous fiscal year, on the current fiscal year as well as financial information on the upcoming fiscal year.
In compliance with these requirements, the report covers the following aspects:
- Financial report for the 2015 fiscal year;
- Three-year capital expenditure program for 2016-2017-2018;
- Preliminary information regarding the financial statements for 2016;
- Remuneration and expense allowances for members of Council;
- List of contracts awarded since the last financial report for contracts exceeding sums of $25,000;
- General orientation for the 2017 budget and the capital expenditure program for 2017-2018-2019
FINANCIAL REPORT FOR THE 2015 FISCAL YEAR
During the preparation of the 2015 budget, including budgets for the localities of Valcanton, Villebois and Radisson, as well as the budget for the allocated forestry funds, we anticipated total revenues in the amount of $ 14,746,965 while we completed the year with revenues in the amount of $12,675,743. The consolidated 2015 fiscal year ended with a surplus of $1,215,735 that was transferred to a reserve fund resulting mainly from funding received and non-committed entirely during the year.
These results were supported by an approval without reservation from a qualified and independent auditor, that is, by the firm Raymond Chabot Grand Thornton. In accordance to the auditors, the consolidated financial statements reflect, in all significate aspects, accurate results of the financial situation for the fiscal year ended December 31, 2015, and reflect our current financial situation.
THREE-YEAR CAPITAL EXPENDITURES FOR 2016-2017-2018
Major capital works and special projects for 2016 include:
| Installation of a new IP telephone system | 35 843 $ |
| Plans and specifications : tourism information centre | 20 997 $ |
| Plans and specifications : administrative office | 11 286 $ |
| Capital expenditure projects in the localities (TECH) | 93 953 $ |
| Installation of building at Lake Matagami campground | 25 842 $ |
| Maintenance of infrastructures | 24 190 $ |
| Maintenance of lots | 23 395 $ |
Most of the projects have been completed, however, certain projects have been intentionally postponed and will be carried out in the upcoming year. The anticipated amounts for projects in 2017 and 2018 will be re-evaluated in the next budget exercise to include new projects that have been identified in the last year.
CONTRACTS AWARDED FOR SUMS EXCEEDING $ 25,000
Section 474.1 of the Cities and Towns Act also foresees an obligation to provide a list of all contracts awarded by the EIJBRG since the last report on the financial situation for contracts exceeding $ 25,000. This list is available on our web site and available upon request for consultation with our Legal Services.
Preliminary information regarding the financial statements for the current year
Based on the current information on hand, the 2016 fiscal year should result in a surplus of revenues based on our current expenditures. The consolidated budget for the year anticipated total revenues of $ 13,060,357 and forecasted expenses in the amount of $ 12,114,178. In accordance to the Governance Agreement, the tax rates are fixed for a five year period. Furthermore, the Government of Quebec committed to funding the implementation of the Regional Government for a five year period.
The 2016 fiscal year is the last year of the three-year evaluation role for the 2014-2015-2016 period and was received on October 26, 2013. The total real estate wealth is established at $419,525,500 and included an amount of $395,608,960 in taxable property value and $ 23,916,540 in non-taxable property value.
REMUNERATION AND EXPENSE ALLOWANCE
In compliance with Section 11 of the Act Respecting the Remuneration of Elected Officials, the report on the financial situation must reveal the remuneration paid to members of Council including expense allowances to fulfill these responsibilities. A portion equivalent to 33.33 % of the remuneration of members of Council is based on a fixed amount and another portion equivalent to 66.67 % is paid in accordance to the physical attendance of members of Council during Council meetings. The following table outlines the remuneration and expense allowances of the EIJBRG members of Council including the localities.
|
Chairman |
Vice-Chairperson | Executive Committee | Members of Council | |
|
EIJBRG Radisson Valcanton Villebois |
$ 53,888 $ 26,601 $ 15,225 $ 15,408 |
$ 41,087 $ 100/month $ 100/month |
$ 30,815 |
$ 17,962 $ 8,867 $ 5,136 $ 5,136 |
GENERAL ORIENTATION OF THE 2017 BUDGET
The following projects and challenges will be pursued during the 2017 fiscal reference year:
- Improvement of the reception services by hiring a Reception Clerk
- Development of a visibility plan
- Relocation of the EIJBRG offices to building located at 175-177 Matagami Blvd.
- Implementation of Phase II of the organizational structure plan
- Continuation of next steps towards the construction of a tourist information centre
In closing, it should be mentioned that the results obtained in 2015 demonstrate that the EIJBRG has maintained a steady balance in regards to the financial situation. Despite the financial challenges, we must continue to demonstrate sound and rigorous management practices for the EIJBRG with an objective of continuous improvement in service delivery to the benefit of our citizens.
I wish to take this opportunity to thank you for your continued support as well as the support you have demonstrated towards the EIJBRG members of Council.
Grand Chief Dr. Matthew Coon Come
Chairman