Waste park posts $137,000 operating profit

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Inter-municipal agency recorded revenues of $1,960,256 in 2012-13

The VANGUARD
www.thevanguard.ca
 
“That’s positive. We have $137,000 that we can show as a profit.”
That was Yarmouth County Solid Waste Management Authority chair Guy Surette’s response to news that the authority didn’t lose money on operations in the last fiscal year. The board met with its auditor on Tuesday, Dec. 3. to review its financial statements. The authority realized an operational profit of $137,000 (net, after provincial and municipal grants) on revenues of $1,960,256 in 2012-13.

 

The waste authority is operated under an inter-municipal agreement between Yarmouth County’s three municipal units. It manages the waste park on the Hardscratch Road and is responsible for the recycling and garbage contracts negotiated by the municipal units for residential garbage collection. Those contracts, along with salaries and benefits, ($174,887) represented the largest expenses incurred last year ($608,038 for garbage and $174,236 for processing recyclables.)

The solid waste board’s auditor, Gloria Banks, an accountant with Grant Thornton, explained that the audit process is “risk-based”.

“We do focus on areas where there is a higher risk of error,” she told the board, adding that the auditors had completed what they described as “a clean audit.”

The waste park’s financial statements show an accumulated surplus of $3,025,679 ($438,362 for 2012-13), but the bulk of that is non-financial assets – land, buildings, equipment – which amounted to $2,897,268.

Costs (around $500,000) associated with construction of a contaminated soil facility within the Hardscratch Road waste park are contained in this year’s figures, (see related story here) but since it only began operation in May, it had not yet generated any revenue. It is expected to generate around $120,000 in tipping fees annually.

The Solid Waste Authority is one of several agencies that have been created by the region’s municipal units to operate some municipally-delivered services. Others include the Mariners Centre, the Yarmouth International Airport Corporation, Yarmouth Area Industrial Commission, the Waterfront Development Corporation, the Yarmouth Water Utility. Plans are well under way to create similar regional entities to oversee economic development and physician re-recruitment/medical clinics. Each of these agencies has a different mix of partners.

 

Organizations: Gloria Banks, Grant Thornton, Solid Waste Authority Mariners Centre

Geographic location: Yarmouth County, Hardscratch Road

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