District files SOFI report

The 2021 Statement of Financial Information (SOFI) Report came before council at their last meeting in June.

A SOFI Report is a Public Accounts report, and is obligated by public entities—municipal governments, public libraries and school districts, to name a few.

The SOFI contains a statement of assets and liabilities, operational statement, schedule of debts, schedule of guarantee and indemnity agreements, as well as a schedule showing remuneration and expenses paid to or on behalf of employees and schedule showing payments for suppliers of goods or services.

There are certain bits of information to be gleaned from the SOFI. For instance, in 2021, the District spent $3114 on expenses for Council. These are typically expenses related to travel.

That’s down from $6932.13 in 2020, and $79,937.47 in 2019, before the pandemic.

Meanwhile, council’s stipends increased marginally, from $14,134.35 per councillor and $31,406.57 for the mayor in 2019, to $14,161.16 per councillor the last two years, and $31,487.04 per year for the mayor.

In 2021, 16 employees made over $75,000 (including reimbursement for expenses). The top-paid employee on this so-called “Sunshine List” was CAO Jennifer Thompson, who made $142,913.51. That’s up slightly from 2019, when then-CAO Jordan Wall made $140,097.32.

The number of employees making over $75,000 has remained at 16 for the last three years, though many of the names have changed.

To put that in perspective, the District of Mackenzie has 20 people on their Sunshine List, and their CAO makes about $20,000 more than Tumbler Ridge’s.

Meanwhile, in Dawson Creek, the Fire Chief makes more than Tumbler Ridge’s CAO.

All together, the District spent just over $5.1 million in staff wages, employee renumeration and council stipends.

That’s up from $4.3 million in 2021 and $4.2 in 2019.

Add that to the $11.3 million the District paid to suppliers, and you have a total consolidated financial statement of $13,750,179.

Wait. Those two numbers don’t add up.

Chief Financial Officer Lisa Teggerty explains that there are going to be some discrepancies due to the way the finances are done. For instance, she says, “accounts are accrued at year-end for goods and services received in December, but are paid for in the new year. Operational statements are prepared on accrual accounting basis, whereas the statements are prepared on actual payments made.”

As well, she says, the schedule contains capital project invoices, but the operational statement in the audited financial statement does not.

Add to that just under $1 million paid in Grant in Aid and Fee for Services, and you have a Statement of Financial Information for 2021.

For more details on the SOFI report visit www.districtoftumblerridge.ca finance link under departments and services.