The Village of Pemberton spent more than its actual revenue in 2008, according to the Annual General Report released June 9.
The report, distributed to community members before an Annual General Meeting on the same day, indicates that the village took in $3,803,996 in revenue in 2008 but put $3,807,213 into expenditures such as public works as well as planning in development - leaving a gap of $3,217.
That came as good news for the village, which initially thought it would face a negative difference of $208,796 between revenues and spending. It was a low number compared to the Resort Municipality of Whistler, whose annual report indicated there was a $12,634,822 gap between revenues and spending.
Beyond revenues and expenditures, Pemberton's annual general report also showed that the village expected to get $3,922,071 in revenues but only took in $3,803,996, a gap of $118,075.
That difference could be attributed to a gap in grant revenues; the village expected to get $893,774 in grant revenues but only took in $597,780, a difference of $295,994.
Roger Lundie, currently serving as Manager of Finance on an interim basis, confirmed that this was the case. He said it's difficult for municipalities to budget for grants and that they don't always come in the years they've put out applications.
"You apply for every grant that you can and you either get them or you don't get them," he said. "The other variable is that you may get them late in the year and you don't have any expenditures, so you defer the grant into the next year when you're going to have the expenditures."
He went on to confirm that the grants budgeted in the village's financial statements refer to promised moneys, and the discrepancy with actual revenue reflects the amount of money Pemberton hasn't received yet.
That means the village had yet to receive $295,994 in promised grants by the time the annual general report was filed.
Most other sources of revenue came in higher than the village expected, including interest and penalties paid on property taxes. The village expected to take in $84,930 in interest and penalties on taxes but wound up receiving $120,483.
That suggests the village was too optimistic in thinking Pembertonians would pay their taxes on time.
Revenues from licences and permits came in under village expectations. It budgeted $144,175 for licenses and permits but that only came in at $114,874, which means the village didn't get to issue as many development permits as it hoped.
As far as expenditures go, the village actually paid less than it originally budgeted. It initially thought it would have to spend $4,130,867 out of municipal coffers but wound up spending $3,807,213, or $323,654 less than expected.
The village spent more money on the following expenditures: general government, for which it spent $295,395 more than it budgeted; protective services, for which it spent $120,169 more; public works, for which it spent $282,671 more; and planning and development, for which it spent $150,472 more than expected.
The village spent less money on other expenses including capital expenditures, parks and cultural services, as well as water and sewer utilities. Debt interest charges also came in lighter than the village budgeted.
Village Treasurer Nikki Gilmore, who's now on maternity leave, compiled the report and included financial statements with amounts based on estimates that were approved by accounting firm KPMG LLP.