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continued from front THE WEEKLY ANCHOR MONDAY JULY 4, 2016 PAGE 2
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CAPP discusses future
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of oil and gas industry
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"Not all is well, even though things policies include the climate change
have improved," said Montgomery. policy, well closure and liability, and
CAPP has recognized that the the caribou.
amount of costs are increasing to The climate change policy outlines Side by Side models starting at
Side by Side models starting at
produce oil and gas, bringing the desire to move to a lower carbon
discipline to operations, such as future, have flexible systems that $13,999
innovative technology and better allow for best business decisions, and
engineering for efficiency, leading to have protection from carbon leakage. THIS AD MUST
better production. With the number of bankruptcies
"Drilling times have decreased, going up, there has been more well
leading to better productions gains of closures. Well closure and liability
a n a v e r a g e o f 8 % , " s a i d allows for liability management, site REMAIN IN THE
Montgomery. closure management, and legacy
Montgomery also advised that sites.
there are other costs from "The federal government has
government policy. Mayor Soroka provided $30 million to deal with this TOP RIGHT HAND
asked if it had anything to do with the area and wants to see effective range
carbon tax. plans that meet policy. We're
"It is one of the more major ones but prepared to be flexible to meet
producers will be reducing the government needs because we
carbon footprint over time," replied increase the likelihood of federal CORNER
Montgomery. interaction if we move away from
Other challenges include the their policies," said Montgomery.
continued need to diversify markets The government has advised that
and to improve competitiveness. caribou need to be protected and that OF PAGE 2.
"We cannot continue to rely on the herds need to be restored. Operators
U.S. as the only foreign market since must allow for a working landscape.
they have lower corporate taxes, "There is a plan to deal with caribou
which leads to exasperating by October because there is a 65%
situations and lowered prices. disturbance rate and the plan has to
Canada has the ability to move four be non-challengeable," said Soroka.
million barrels a day," said Montgomery mentioned that the
Montgomery. federal government is prepared to be AS PER SUE
It’s all about the ride
Currently, the U.S. is talking about flexible but needs to see progress.
Misadventures a Transporter Tax. "This would be Councilor Priestly-Wright (780) 723-5775
devastating. The Canadian expressed frustration with the issue
government is engaged with the U.S. because, "Canada has spent millions
to change and divert their policy," towards caribou and what have we
said Montgomery. accomplished? There's not a lot to
Current government environment show.”
Sid's Safety

Town in 'solid' & Janitor al

financial position

5928 - 3rd Avenue, Edson, Alberta T7E 1R8
by Adrienne Tait end was $102,945,307 approx- Phone: (780) 723-6575 Fax: (780) 723-6567 Sid’s Safety
imately $5 million more than
The 2016 fiscal year end financial budgeted. Barford said this was in Email: Run this ad
audit statements for the Town of large part due to the town now in
Edson were presented to council on control of the Recreation complex April 17/24
April 18 at their regular council which contributed $3.58 million to We offer recharging and
meeting. the capital assets.
Chartered Accountant Shannon The amount of revenue generated services on all fire extinguisher
Barford, of the firm Mergaert, from photo radar increased to $1.9
Barford, Williams, Joly & million from $1.5 million last year. makes and models
Starkevich, provided an over view of However the drops in land sales,
the town's financial situation and bulk water sales, and user fees meant
said, “The town is in a solid position lower revenue streams from those
as it is sitting right now. Whether is sources.
stays that way comes down to There was an increase in long term
planning and budgeting for future debt due in large part to the
commitments. debenture that was taken to facilitate
Barford said the different the required improvements to the
departments managed to stay within, wastewater treatment facility.
or very close, to their budget Barford said that while the audit
amounts. The result was, “Revenue this year showed a net asset position
stayed consistent but expenses were that is likely to change next year to a
down by approximately $700,000.” net debt position. “There has to be a
Mayor Pasychny clarified for plan in place for that debt,” said
council that the budget being Barford, “To repay that debenture.”
reviewed was not the zero increase The town currently has $3.4
interim budget passed in late 2016 million of their debt servicing limit
but the final 2016 budget which was which remains unused, Mayor Greg For After Hours Service call
passed in 2015. “They tightened Pasychny said, “We can't afford to
their belts and it showed,” said live at the max debt/service ratio. It
Mayor Pasychny. would be like maxing out all your 780-517-6575
The accumulated surplus at year credit cards – you would never get
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