Chris Lowrey
CAMPBELL’S BAY
April 18, 2018
The results of a recently-undertaken audit of the MRC Pontiac was presented at the council of mayors meeting on April 18.
The financial outlook for the MRC looks to be in relatively good shape.
This year, the MRC ran a surplus of just over $510,000. That number was even higher when the $170,000 the MRC was defrauded of was factored in.
The total accumulated surplus for 2017 was $617,185.
The MRC’s long term debt stands at $2,580,968.
Each municipality in the MRC is responsible for a portion of the MRC long term debt. The amount owed by each municipality is calculated by the population in the municipality and the average property value.
Included in the long term debt is the cost of constructing the new MRC office (which the MRC has 20 years to pay back from the 2015 construction date).
Of the $1.2 million owed by the MRC for the new offices, it has already paid back just over $86,000.
The $2.58 million long term debt also includes $1.46 million that was loaned to the now defunct CLD by the MRC. That $1.46 million has to be paid back by 2020.
However, the MRC might not be on the hook for the $1.46 million as the provincial government might cover the costs.
MRC Pontiac debt, as divided amonst its municipalities based upon their shares of the debt:
Alleyn et Cawood $69,384
Bristol $263,774
Bryson $42,134
Campbell’s Bay $54,517
Chichester $48,309
Clarendon $261,158
Fort Coulonge $71,543
Calumet Island $116,738
Allumettes Island $370,007
Litchfield $110,722
Mansfield et Pontefract $308,805
Otter Lake $264,661
Portage du Fort $24,837
Rapides des Joachim $22,920
Shawville $188,547
Sheenboro $95,859
Thorne $164,468
Waltham $74,183
Pontiac (TNO) $28,402
