According to two reports presented to council on June 10, the Village of Pemberton (VOP) ended 2024 in good financial shape, recording a multi-million-dollar surplus, investing in capital infrastructure and posting strong returns from its community forest partnership—all while wages for senior staff and elected officials continued to climb.
The audited financial statements and the provincially mandated Statement of Financial Information (SOFI) provide a detailed look at where municipal money was spent and who benefited.
According to the audited financial statements—prepared by the independent accounting group MNP—the Village posted a $2.64-million surplus in 2024, bringing the total accumulated surplus to $42.36 million. The result, though below the $6.1-million target in the 2024 budget passed by council, reflects rising revenues.
Municipal revenues hit $15.06 million, led by $4.3 million in government grants, $2.98 million in taxation, and $2.43 million in utility user fees. Meanwhile, the Village spent $5.8 million acquiring new infrastructure—up from $5.3 million the previous year—and increased its long-term debt to $3.78 million—up from $3.28 million in 2023.
One of the biggest financial wins came from the VOP’s 50-per-cent stake in the Speìkúmtn Community Forest, which yielded $820,539 in revenue for the municipality—up from a loss the previous year. The Village’s investment in the partnership is now valued at just over $1 million.
Top earners
SOFI data shows that chief administrative officer Elizabeth Tracy was the Village’s highest-paid employee in 2024, earning $199,813 in total remuneration and claiming $1,730 in expenses.
In total, 25 employees made more than $75,000, with deputy fire chief Adam Malpus ($138,238), manager of operations and projects Tom Csima ($130,705) and fire chief Cameron Adams ($123,875) rounding out the top three after Tracy.
The top 25 employees earned a combined $2.47 million, while all other staff received $1.96 million. Total municipal payroll for the year came in at just over $4.43 million, with nearly $77,000 in expenses claimed.
On the elected officials side, Mayor Mike Richman earned $41,532—up from $33,397 in 2023—and expensed $3,160, down from $3,789 in 2023.
The four councillors—Ted Craddock, Jennie Helmer, Katrina Nightingale and Laura Ramsden—each made $20,764—up from about $16,500 in 2023—with expenses ranging from $409 to $1,401.
Together, council members earned $124,587 and expensed $6,845.
Outward cash flows
The Squamish-Lillooet Regional District topped the list of suppliers, receiving just under $2.6 million from the Village in 2024. CATA Management Ltd., which manages Pemberton’s water and sewer utilities, followed at $2 million. The provincial ministry of finance also received a hefty sum—nearly $1.9 million—for school taxes.
Other major payees included NDY Contracting Ltd. ($1.27 million), Sunstone Ridge Developments ($633,630), and ISL Engineering & Land Services ($437,102). In total, the Village paid out $18.7 million to suppliers, of which $17.2 million went to vendors who were paid more than $25,000.
The Village noted the difference between total supplier payments and actual expenses—about $6.3 million—can be attributed to factors such as capital additions, intergovernmental transfers, and accounting adjustments like amortization.
The annual SOFI report is a legislative requirement under B.C.’s Financial Information Act and provides transparency into how municipal governments use public funds.
The Village also continues to hold a large share of its $2-million Growing Communities Fund (GCF) grant from the province, with just $58,000 spent to date and nearly $2 million reserved for future infrastructure needs. The GCF is designed to help local governments develop infrastructure and amenities that match a growing population.
Financial tightening despite surplus
Despite the surplus and infrastructure gains, the Village’s net financial assets shrank from $2.53 million to $658,404—a reflection of higher liabilities and aggressive capital expansion.
Still, the year ended with nearly $7.8 million in reserves—an increase of more than $500,000 from 2023—a growing capital asset portfolio valued at $41.4 million and a steady rise in core revenue sources.
The SOFI report and audited financial statements are both available to read on the VOP’s website as part of the June 10 council meeting package and addendum agenda.
