ESPANOLA—The Manitoulin-Sudbury District Services Board (MSDSB) posted a financial surplus at the end of 2016 that will be shared among all its participating municipalities.
“Yes, the DSB finished the year (2016) with a surplus,” stated Fern Dominelli, chief administrative officer (CAO) of the DSB after a meeting last week. “The total surplus was $343,910.”
Mr. Dominelli explained at a DSB board meeting last week the 2016 audited financial statements were presented by Cynthia MacKenzie, of Freelandt Caldwell Reilly LLP. The DSB staff were also presented with a revised fourth quarter financial report based on the audited financial statements.
“On the recommendation of staff, the board approved a resolution which approved the distribution of the entire $343,910 surplus to the DSB’s member municipalities as per the apportionment formula in place for the year 2016,” said Mr. Dominelli. He explained the board surplus had been accumulated due to the actual budget being under estimates for Ontario Works, and child care administration being under budget. Social housing was “under budget estimates because $73,000 was provided by the province that was not budgeted for.” As well, direct operating costs for housing and EMS actual were below budgeted amounts.
“And the DSB received an additional $202,000 in funding from the Ministry of Health and Long Term Care that we had not budgeted for,” said Mr. Dominelli.
