Council back in session

Mayor and council are back in session this evening after having been away from regular meetings since July 12.

This evening’s meeting scheduled for 6:00 p.m. will cover the following:

Wood Buffalo Pro-Business Advisory Committee

Council will consider establishing the “Wood Buffalo Pro-Business Advisory Committee” which aims to provide recommendations to Council on matters that impact the public and will create a communication connection between local businesses and decision-makers in government.

New CAO Appointed

Paul Thorkelsson will officially be appointed as the Regional Municipality of Wood Buffalo’s new Chief Administrative Officer (CAO).

Former CAO Jamie Doyle’s resignation was accepted by Council during a Special Meeting on April 27.

Council accepted the recommendations of the Recruitment Panel to offer the position of CAO to Thorkelsson on August 19.

His role as new CAO becomes effective on Sept. 26.

Asset Management Cohort

Administration is seeking council approval to apply for the “Asset Management Cohort” through the Rural Municipalities of Alberta (RMA) Alberta Municipalities, and Infrastructure Asset Management Alberta (IAMA).

The program aims at helping municipalities achieve the following:

  • Establishment and development of an internal asset management team
  • Development of an asset management policy
  • Development of an asset management strategy

If selected, the administration is proposing the RMWB send up to five members as cohort participants to attend up to three in-person workshops, regular virtual working groups, and one-on-one calls.

There is no fee to participate in the cohort.

RMWB Financial Performance

The municipality is projecting a $7.3 million surplus at year-end, as of June 30 with revenues projected to be $3.3 million higher than budgeted.

Year-to-date operating revenues to June 30 are $287 million while operating expenses are $204.4 million.

Nearly $39 million has been spent on capital projects as of June 30, with the most expensive project being the construction of flood mitigation throughout the city and costing roughly $4.5 million.

According to financial reports, the RMWB has $300 million in cash in the bank and $1.08 billion in investments.

The RMWB has committed $462.4 million for operating requirements, $101.9 million in deferred revenues, and $523.1 million in committed reserve funds.

Just over $300 million remains in uncommitted funds.

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