Math vs. District of Coldstream

Michael Tindall's excellent letter to the editor, published today in the Morning Star.


"So, there's a deficit in Coldstream of $284,000 due to decreased revenues and increased expenses.
The district is floating a 6.59 per cent tax hike to remedy the situation.


But wait a minute, light industrial development on the old glass plant site would increase tax revenues nicely yet the district leaves it empty.


As for expenses, let's remember the district 'oversight' regarding HST on the grid road ($151,310 deficit), the 'shortfall' regarding Park Lane paving ($39,096 deficit), the 'unexpected challenges' on Kidston Road ($37,739 deficit), the 'additional asphalt shortfall' on Kalamalka Road ($14,173), and the 'unexpected flagging charges' for the Kalamalka Road beach ramp ($10,316).


Add them up and these oversights account for $252,634,  or  89 per cent of the projected deficit.


A thinking person might deduce that Coldstream taxpayers are being asked to foot the bill not so much for increased costs or reduced revenues.


Hopefully other Coldstream residents do the math and make their views known to Council.
Michael Tindall".


Michael's letter is timely indeed, considering Monday night's Council meeting had in attendance the BDO Auditor, who affirmed the district's Financial Statement for the year ended December 31, 2011.  

"In our opinion, these financial statements present fairly, in all material respects, the financial position of the District of Coldstream as at December 31, 2011 and the results of its operations and cash flows for the year then ended in accordance with Canadian public sector accounting standards,"  states BDO.

Good though, that BDO's post-audit letter includes the phrase "...but not for the purposes of expressing an opinion on the effectiveness of the entity's internal control."

Phew...that let's BDO off the hook.
So that leaves only the District of Coldstream playing the smoke-n-mirrors game.


"I like games," offers Kia.

Coldstream's residents are certainly getting used to games from this Mayor and Council.

But Math always wins...it's just a matter of time.