The City of Castlegar has released its audited financial statements and statement of financial information (SOFI) reports for 2019.
The city ended the year with $15.7 million in assets and $10.4 million in liabilities, leaving net assets at about $5.2 million.
The city’s reserve funds total $9.2 million. That includes money in the development reserve, equipment replacement, water, sewer, storm and airport funds.
The city also has $77.7 million in non-financial assets including its capital assets.
The city’s accumulated surplus sits at almost $83 million, up $1.67 million from 2018.
RELATED: City of Castlegar revenues take a big hit in first half of 2020
Salaries
One of the city’s largest expenses is salaries. With benefits factored in, the city spent $5.6 million on employee-related expenses.
Municipalities are required to list all employees making more than $75,000 annually as part of their SOFI report. In 2019, Castlegar had 25 employees in that category.
Upper-level management accounts for the top nine salaries, which are all over $100,000:
Chris Barlow, chief administrative officer — $154,701
Andre Buss, finance director — $131,001
Tracey Butler, director of corporate services — $126,386
Sam Lattanzio, fire chief — $119,838
Patrick Gauvreau, municipal service director — $116,453
Duane Monson, deputy fire chief — $113,620
David Bristow, IT manager — $112,025
Nick Ahlfeld, deputy fire chief — $107,131
Lois Hunter, deputy finance director — $105,582
The remaining positions earning between $75,000 to $90,000 include journeyman carpenter, working foreman, executive assistant, engineering technician, building inspector, operations manager, journeyman mechanic, maintenance water/sewer, planning technician, chief treatment plant operator, treatment plant operator and parks maintenance person.
Elected officials
The report also includes information on payroll for elected officials.
Mayor Bruno Tassone earned $36,800 from the city plus an additional $20,019 from the Regional District of Central Kootenay as a director representing the City of Castlegar.
Each city councillor earned about $16,000.
All councillors and the mayor also accumulated expenses, most related to travel.
Tassone received $8,076 in expenses from the City of Castlegar and an additional $7,660 in expenses from the RDCK.
Councillor expenses were as follows:
Cherryl MacLeod, $9,163
Dan Rye, $8,804
Maria McFaddin, $6,303
Florio Vassilakakis, $5,118
Sue Heaton-Sherstobitoff, $4,742
Bergen Price, $534
RELATED: RDCK publishes 2019 payments to businesses, organizations and staff
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