~ Financial Update 2008 & 2009 ~

~ Financial Update 2008 & 2009 ~

Actual Budget 2008

• Net Deficit 2008 = $75,500
• Operating Deficit 2008 = $175,500.
  

- Actual deficit for 2008 would have been $175,500, $100,0000 greater if the municipality had not used $100,000 from the previous years’ surplus.
- The $175,000 operating deficit in 2008 is 7.3% of the 2008 budget ($2,388,520).

Budget Forecast 2009

• Gross revenues 2009 are $2,583,539.
• Net Revenues 2009 $ 2,507,989 = ($2,583,539 - $75,500)
  

- Revenue growth: Revenues have grown from $1,450,000 (2004), $1,585,651 (2005), $1,692,792 (6.8% increase in 2006), $2,009,820 (10% increase in 2007), $2,388,520 (18.8% increase in 2008)
- Operating Surplus/Deficit: surplus $35,597 (2005), surplus $103,200 (2006), surplus $55,695 (2007), deficit $175,500 (2008)
- Cumulative Surplus (as of December 2007): $383,185


Property taxes 2009

• Evaluations 2009 = $197,243,700 a 4.2% ($7,973,700) increase from $189,270,000 (2008).
• Mill rate 2009 = 0.90423 / $100.00 a 11.97% (0.09673) increase from 0.8075 / $100.00 (2008).
  

~ special council meeting for Budget 2009 ~
Municipalite de Lac Simon
~ December 22, 2008 ~