Mundare finishes year in good financial shape

BY JOHN MATHER

Mundare received an overview of its financial position to the end of 2022 at its Feb. 7 regular council meeting.

Barb McCarthy of JMD Group in St. Paul gave an overview of the statements to council.

The accountant told council the town had total assets of $1,908,323 up from $1,742,740 the previous year.

Liabilities totalled $2,754,348, improved from $2,829,486 in 2021.

“That left your net financial debt at $846,925 for the year end, improved $200,000 from the year before,” she said.

The Town’s non financial assets totalled $11,287,663 and Mundare had an accu- mulated surplus of $10,441,639 to the end of 2022.

“That’s your reserves, capital assets and your regular surplus,” she added.

McCarthy then went through the town’s consolidated statement of operations.

She told council they reflected good budgeting on the Town’s part.

In addition she went through legislative expenses, and various others expenses such as contracted and general services, bank charges, shared costs agreements and others.

McCarthy said the Town was well within its debt limit. Mundare has a total debt limit of $2,997,662 and a debt of $1,491,757, leaving