Each year Alberta Municipal Affairs uses financial and statistical data collected from municipal governments to prepare financial indicators that are compared to a group of 18 other rural municipalities with a similar equalized assessment base. The package is intended to serve as a tool that may assist council and administration with operational decisions. The comparative measures may be useful in assessing past performance and for budget planning.
The report shows the following regarding equalized taxes rates and assessment:
• The Municipal equalized tax rate for the County of Wetaskiwin was 6.6% verses a median of 7.5% and a maximum of 20.0%.
• The residential equalized tax rate for the County was 4.7% verses a median of 6.4% and an maximum of 10.5%.
• The non residential equalized tax rate was 18.2% verses a median of 12.7% and a maximum of 25.0%.
Some highlights of the report are:
• The County was only using 2.1 per cent of its total debt limit in 2012 compared to a median of 14.1 percent and a maximum of 60 percent.
• The report shows that the County's long term debt per capita is $812 compared to a median of $663.00 per capita from the sample group with the range being from $0 per capita to a maximum of just under $5,5000.00 per capita of debt load. The reason for the large increase from $97 in 2010 is the new debt for the Senior's Housing that the County obtained. This is being repaid by the Wetaskiwin & Area Lodge Authority.
• The County's per capita property tax is $1,614.00 compared to a median of $3,318.00 per capita and a maximum of $18,000.00.
• The County's percentage of property taxes to total operating revenue is 54 percent compared to a median of 67 percent and a maximum of 83 percent. This percentage varies alot from year to year depending on how many big projects we have that are funded with grant revenue.
• The percentage of sales and user charges to total operating revenue is 6 percent compared to a median of 3%. Also the percentage of grant revenue to total operating revenue is 33 percent compared to a median of 16 percent. This is the result of us deferring the grants until approvals were in place.
• The total operating expenditures per capita for the County is $2,252.00 compared to a median of $3,738.00 and a maximum of $17,666.00 per capita.
• The County's per capita total general government operating expenditures is $394.00 compared to a median expenditure of $472.00 per person and a maximum of $2,636.00 per person.
• The County's spending on Protective Services, Transportation and Environment are all below the median expenditures for this report.
• The County's salaries, wages and benefits is $695.00 per capita compared to a median of $982.00.
• The County's ratio of current assets to current liabilities is 2.65 times.
The County is in good financial position because for every dollar of current liabilities the County had in 2012 it had $2.65 dollars of current assets to pay it down with.