TUESDAY
S I N C E
JUNE 18, 2013
1 8 9 5
Vol. 118, Issue 94
Page 11
1
$
Orioles earn split
05
INCLUDING G.S.T.
PROUDLY SERVING THE COMMUNITIES OF ROSSLAND, WARFIELD, TRAIL, MONTROSE, FRUITVALE & SALMO
Trail in good financial shape: audit BY SHERI REGNIER Times Staff
Melissa Yadernuk was among the 156 Crowe graduates celebrated during a 2013 class ceremony Friday night.
VALERIE ROSSI PHOTO
Graduates ready to write next chapter BY VALERIE ROSSI Times Staff
J. L. Crowe Secondary students completed their final assignments Friday night when they accepted their diplomas in front of family and friends. About 1,000 people watched in the stands of the Cominco gym, where $98,000 in scholarships and burseries were also doled out to 77 of the 156 graduates. “At graduation our emotions and thoughts are in a state of contradiction; we look forward to what’s next, but reminisce on what was,” said Principal David DeRosa. “We yearn for the promise of the unknown but cling to
the comfort of the here and now.” Valedictorian Collin Wynnychuk was pleased to address all of the people who helped mold him throughout, what he called, the most crucial years of his life. He was humbled when he arrived at Crowe and realized that he and his classmates were no longer in charge, a feeling he expects after high school. “Seeing the vitality coursing through the halls was exciting and eased the anxiety of going to a new school,” he recalled from his first experience at the Trail high school. “Even better was that we were granted an actual choice in what we got
to learn.” Graduation comes with even more choice, as some classmates will go onto study post secondary while others will dive right into the workforce. But success will come so long as there is ambition, said guest speaker Don Freschi. He’s not an “old dude” but rather a “seasoned” or “experienced” man, who has been thrown a few curve balls but always found his way. The 1979 Crowe grad remembers his graduation ceremony all too well and opted not to bore the 2013 class with poetry and instead provide clear advice. The Trail entrepreneur recommended the gradu-
ates write a Top 50 goals list immediately and follow this as a guideline. This was an exercise he did after graduating and to his surprise he has completed most of his notes. Armed with a Diploma of Technology from the British Columbia Institute of Technology, Freschi landed a job in Teck’s semiconductor division, which eventually led him to going “all in” on what was formerly known as Firebird Technologies and later became 5N Plus Trail before closing its doors. He is now the general manger of Community Futures’ business incubator, where the former local company began.
The City of Trail has been saving for a rainy day, and this year it’s time to spend some of the nest egg. A memorandum of the city’s 2012 financial audit was reviewed at Monday night council, a, and the report revealed a surplus of cash and a hefty savings account. “We have been building up our capital over the years,” said Mayor Dieter Bogs. “Now we are in a good financial place to be able to start investing in some major improvements, especially in the downtown.” Most notable is the $1.2 million earmarked for the Victoria Street Corridor gateway project, set to begin this summer. “The city is in a healthy position,” said Craig Teindl, City of Trail auditor from L. Soligo & Associates Ltd. “This refers to the fact that as of Dec. 31, 2012, the city had enough cash and investments to pay off all the debt and still have some cash left over.” The annual audit gives an overall picture of how the city is running, looking at it’s consolidated revenue by taking into account its general operations, such as water and sewer operations, and staff and capital funds.
The financial report memorandum, which is available for public viewing at trail.ca, notes a 2012 surplus of almost $2 million. “The city had consolidated revenue in excess of expenses of $1.89 million for the year,” said David Perehudoff, chief administrative officer. “Equating this to the private sector, this would effectively be the equivalent to net profit for the year.” The main influx of cash is collected during property tax collection time. Teindl said that in 2012, the total revenue of the city was almost $20 million, and of that total almost $12.5 million, or 62 per cent came from property taxes. Another eye-catching figure noted in the report is the city’s $10 million in cash and short term investments. “Cash and shortterm investments are liquid assets of the city that may be used to fund operations or capital,” explained Perehudoff.“Strong cash balances allow the city to operate without having to borrow short-term during certain times of the year when cash is not coming in.” More good news noted in the city’s financial statement is its growing accumulated surplus of $85 milllion. SeeCOMMUNITY, Page 3
Contact the Times: Phone: FineLine250-368-8551 Technologies 62937 Index 9 Fax:JN250-368-8550 80% 1.5 BWR NU Newsroom: 250-364-1242 Canada Post, Contract number 42068012
Generating jobs & economic benefits www.columbiapower.org