Parrsboro misses deadline for filing financial information
The Town of Parrsboro missed the Sept. 30th deadline for filing information the province uses to measure the financial health of Nova Scotia’s municipalities.
Municipal Affairs Minister Mark Furey said Parrsboro and the Municipality of Pictou were the only two of the 54 municipal units in Nova Scotia to miss the deadline.
Furey called a news conference this morning in Halifax to release the latest figures in the municipal Financial Condition Index. The index focuses on where municipalities get their revenue, how they spend their money, and how well they manage their finances. The province also publishes a municipal profile that includes information on household income, changes in population and education levels.
Alas, since Parrsboro missed the filing deadline, there are no financial figures for the years 2012/13 and 2013/14.
Parrsboro’s mayor blames problems with a complicated new software package that the town bought to help crunch the numbers. Lois Smith says, however, that the audit is now complete and the province should receive the figures soon.
Meantime, the first set of figures for 2011/12 shows that Parrsboro was performing below some financial thresholds the province has established. For example, the town relies heavily on transfer payments from the province earning it a red rating in that category. Parrsboro also has a below-threshold rating when it comes to commercial property assessment.
To view these results yourself click here and select the year 2011/12 from the Fiscal Year menu and Town of Parrsboro from the Municipality menu, then click View This Report.
You can also view Parrsboro’s municipal profile for 2011/12.
I’ll let you know when the figures for the last two years are available on the provincial website.
When I asked the Minister whether he’s satisfied, based on the 2011/12 figures, that Parrsboro is a viable town, Mark Furey seemed to choose his words carefully.
“Each of the municipalities face financial challenges, some more challenging than others.”