MOUNTAIN VIEW COUNTY - Mountain View Seniors’ Housing, which owns and operates facilities in the Mountain View County area, has approved a balanced budget for 2020.
The move came by way of motion at the recent regularly scheduled board meeting.
Mountain View County reeve Bruce Beattie is the chair of the MVSH board.
“We’ve established a balanced budget for the coming year and I think our financial picture is coming in pretty well from the previous year,” said Beattie. “I think we are weathering the storm of the various extra costs that we have inherited from the province in the last couple years, and we will continue to provide the service we can to our seniors.
“Our goal at this point is to be stable and to develop stability within the organization. We know that there won’t be any growth for the time being and the idea is to stay the course and get good stability within the organization so we don’t have to make any significant changes.”
The balanced budget calls for total revenues of $16,777,281, up from $15,885,781 in 2019.
Rent revenue and service fees are projected at $9,692,039, up from $9,509,149 last year.
Health authority grants are projected at $4,335,702, down slightly from $4,364,228 last year.
Municipal requisitions – operating are projected at $1,849,084, down from $1,905,000 last year.
Municipal requisitions – capital funding are projected to be $1,095,543.
Alberta Seniors and Housing grants total $775,957, down from $851,936 last year.
Amortization of deferred capital, contributions is $547,090, same as in 2019.
Utility recovered is projected to be $67,848, same as last year.
On the expenditure side, the total projected expenditures in 2020 are projected to be $16,777,281, up from $15,830,116 in 2019.
Salaries, wages and benefits are projected to be $9,425,233, up from $8,621,068 in 2019.
Maintenance and facility services are projected to be $1,403,045, up from $1,305,141 in 2019.
Food, kitchen and linen supplies are projected to be $1,724,075, up from $1,658,879 in 2019.
Directors’ expenses are projected to be $25,000, up from $15,000 in 2019.
A five-year plan has been developed regarding requisitions, said chairman Beattie.
“We don’t expect to see any significant changes from that point,” he said.
Resident fees “remains well below what we can charge under existing legislation,” he said.
In other MVSH news, the organization has recently been able to sell a number of assets, he said.
“We’ve successfully sold five properties that we transferred from the province to seniors housing,” he said. “Because of that we are actually going to be able to build a little bit of a reserve and then also do some of the capital projects that in the past have come out of operating and we’ve used some of the operating dollars to do some necessary capital items.
“So we’ve generated almost a million dollars from those sales to this point and that’s really helping our financial stability.”