Coldstream Releases Positive Financial Report

The District of Coldstream has released its financial report for 2016.

It shows revenues from the previous year are up, as is the general value of assets.

Mayor Jim Garlick says overall the District is taking care of things, and is taking a proactive approach with its asset management plan for parks.

“Looking at all of the hard items we have in parks and how we`re going to replace them over the years. So we dealt with it this year with a half per cent increase in taxes.

There will be another half per cent increase next year and 6 and half the following year to cover the costs for the future.

Garlick also thinks the District`s debt is being well managed.

“We still have lots of room for borrowing. We haven`t over borrowed at all and we`re going to be paying it off over the next few years. We don`t see anything we`re in dire need of borrowing for moving forward.”

The District has done some restructuring in a few areas with the intent to stimulate growth and development while ensuring efficient service delivery to residents.

When it comes to the salary structure, the Mayor thinks remuneration is fair.

“When you look at other communities we still stay at a fairly reasonable rate per capita.”

He says Coldstream is always competing with other communities for quality staff.

The report shows Coldstream has 14 employees earning more than 75 thousand dollars a year.

Topping the list is Chief Administrative Officer Trevor Seibel with a base salary of 144 thousand 371 dollars and 42 cents.

The Mayor`s salary was 30 thousand 755 dollars and 40 cents.

Garlick says when it comes to increases for both staff and council the district tries to keep increases in line with inflation.