CBRM achieved surplus last year despite nearly $4-million snowstorm cleanup

Cape Breton Regional Municipality (CBRM) has managed to end its last fiscal year with a $100,000 surplus, despite facing significant challenges such as the $4-million cost of cleaning up a massive snowstorm that hit the region last February. Independent auditors have given the municipality a clean bill of health for its financial reporting, but Mayor Cecil Clarke acknowledges that CBRM still has financial obstacles to overcome.

Mayor Clarke stated that while the municipality is not in bad shape, there is always room for improvement. He emphasized that the upcoming budget round will present more financial requests than the municipality can currently accommodate. One of the key factors impacting CBRM’s financial outlook is the pending decision from the province regarding disaster relief funding for last winter’s snowstorm, which caused substantial damage.

Despite the surplus recorded in the previous fiscal year, which ended on March 31, 2024, and a projected surplus of up to $1.2 million for the current year, Mayor Clarke highlighted that there is still pressure from the community for increased spending on essential services such as roads, sidewalks, recreation facilities, and water infrastructure. He emphasized that there are numerous ongoing priorities that require attention and funding.

Jennifer Campbell, CBRM’s chief financial officer, explained to the audit committee that the surplus from the last fiscal year was a result of various factors. These included increased revenues from deed transfer taxes, higher interest earnings on bank balances, and additional revenues generated by the Centre 200 arena due to the success of the Cape Breton Eagles in the Quebec Maritimes Junior Hockey League playoffs.

While the municipality also faced unexpected expenses such as building repairs and higher-than-anticipated costs for fuel and general inflation, the overall increase in revenues managed to offset these additional expenditures. Mayor Clarke stressed the importance of balancing financial responsibilities to ensure that CBRM can continue to meet the needs of its residents.

In conclusion, despite the financial challenges faced by Cape Breton Regional Municipality, the positive surplus outcomes and ongoing efforts to manage expenses demonstrate a commitment to fiscal responsibility and effective financial management. As CBRM awaits the decision on disaster relief funding and navigates the demands for increased spending, the municipality remains focused on addressing critical infrastructure needs and delivering essential services to the community.