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2020 financial statement shows City has a surplus
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Lloydminster City Council has accepted and approved their Consolidated Financial statements for 2020.
The document which was prepared by local chartered professional accountants WLS Wilkinson Livingston Stevens LLP and was presented to Council on Monday April 26th.
On the plus side, the report shows a rise in financial assets of about $13.8 million with liabilities close to $3 million. This gives an increase in net financial assets of about $11 million.
The City has a surplus of $9.9 million for the year which was more than double what had been budgeted. Municipal taxes are slightly down from last year and user fees have shown a sharp decline off what was budgeted.
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