Lethbridge city council hears financial update
Photo credit to My Lethbridge Now.com (Sam Borsato)
Lethbridge Councillors received an update this week on the City’s finances.
City Treasurer Hailey Pinksen told Council at this stage, they’re forecasting a small surplus for 2019, however without a provincial budget yet, it’s hard to look beyond the end of this calendar year.
“It is a bit more challenging”, says Pinkesen. “We will continue to monitor that to make sure we manage that as best that we can.”
Pinksen also told Council Tuesday (Sept. 3) she expects revenues to the City of Lethbridge. She said they’re anticipating slower growth in terms property tax (collected) and an overall downturn in the Lethbridge economy.
Pinksen noted it is still very early in the year in terms of forecasting. “We’re just kind of giving council some information about where we anticipate to be at by the end of the year. Hopefully we will get some more certainty when the provincial budget is announced and released.”
Mayor Chris Spearman said he was overall happy with the report saying Lethbridge right now is in a good financial position.