Counties Council has passed a bylaw to approve the distribution of its $1.67-million surplus from 2018 into three reserve accounts. The Year End Budget Variance Report shows Leeds Grenville has a surplus of $1,674,881, representing approximately 1.67% of the Counties $100 million annual budget. Council approved the transfer of $272,228 to the Roads/Bridge/Culver Amortization Reserve; the transfer of $243,684 to the Maple View Lodge Amortization Reserve; and $1,158,968 to the Operating Surplus Reserve.
“We have healthy reserves and healthy asset management,” said Treasurer Pat Huffman.
Normally the full amount of a surplus is transferred to the Operating Surplus Reserve. However, with the future demands of the Strategic Asset Management Plan and needed infrastructure work, as well as the Maple View Lodge expansion announcement, staff recommended the surplus be transferred into the three accounts.
Counties Economic Development update: Counties Economic Development presented its 2019 plan to Counties Council at the Committee of the Whole meeting on April 9.
The department maintains its five strategic areas of focus: regional leadership and building economic development capacity, investment attraction, tourism, regional marketing and communication, along with its primary focus on Business Retention and Expansion (BF+E).
The Counties will be delivering a regional BR+E report along with reports for Augusta, Merrickville-Wolford and Rideau Lakes. Business interviews are continuing through the months of May and June. With the project feedback, Counties has already supported proposals related to workforce development.
The Leeds Grenville Visitor Services will be set-up at the Mallorytown ONroute Centres in early June to the end of August to encourage guests travelling through the region to explore area attractions. All businesses are encouraged to verify they are listed in the Leeds Grenville Business Directory. For more information, contact Counties Economic Development Manager Ann Weir at 613-342-3840, ext. 5365.