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Town assets up $17M BY SANDRA BOLAN COUNCIL 11, Stouffville Sun-Tribune n www.yorkregion.com n Thursday, June 28, 2012 sbolan@yrmg.com Whitchurch-Stouffville's tangible capital assets have increased by $17 million between 2010 and 2011. The increase is due to the purchase of town hall, as well as the completion of Bethesda Sports Fields, Memorial Park's ball diamond, as well as various road and water/ waste water projects. The town's tangible capital assets, as of the end of last year, were valued at $225.8 million. "When we build, then the value is going to go higher. The older they get, the less value they have," said Marc Pourvahidi, the town's treasurer and director of finance. "I don't think there is any right or wrong level of assets," he said. The municipality also has a number of other facilities that have been completed during the past few years, including Weldon Road's fire hall and Clippers Sports Complex. "We'll need to have a long-term plan to ensure the long-term assets are taken care of," Mr. Pourvahidi said. Of the seven categories of assets noted in the June 19 report to council, facilities increased from $46.5 million in 2010 to $56.6 million in 2011, while land improvement assets jumped from $8.6 million (2010) to $13.6 million (2011). Environmental infrastructure, which con- sists of water and sewer, rose by $7.8 million between 2010 and 2011 to $45.9 million. The tangible capital assets were noted mostly for tracking purposes, according to Mr. Pourvahidi. "There's no liquidation to this. We can't sell our streets to someone, we can't sell our sidewalks, the buildings, somewhat yes, but not a lot," he said. S T O U F F V I L L E DOUBLE WALL INSULATED TUMBLERS WITH CAMPBELL'S `We'll need to have a long-term plan to ensure the long-term assets are taken care of.' Down the road, the treasurer said statistics may be available that would enable municipalities to compare the tangible capital assets to each other by the square kilometre but "even that is not going to be that meaningful because we're such a (physically) large municipality" and have a number of regional roads. The report also noted the town's longterm liabilities have increased by $7.9 million from 2010 to 2011 to $35.4 million. Four projects will be paid off come 2035/36 - the Clippers Complex, fire hall, Main Street improvements as well as the operations centre. The new town hall will be mortgage-free come 2051. Interest rates range from 3.51 to 4.89 per cent, according to the June 19 council report. STRAW 599 EACH 17 oz CHICKEN NOODLE, CREAM OF MUSHROOM, TOMATO OR VEGETABLE SOUP 799 EACH COCA-COLA, SPRITE, PEPSI OR 7-UP REGULAR OR DIET, 12X355ML ASSORTED VARIETIES 20 oz 200 SNACK UPS KETTLECORN POPCORN 220G - 245G 4 for 999 REXALL BRAND, AVEENO TRESEMME HAIR CARE OR 3 for 249 EACH 10-DAY UP TO RY SUPER $ TOD FAC 4,000 IZE SALE S ALE AUTHOR IN SAVINGS ENDS JULY 3 - JULY JUNE 24 L Y3 FINANCING 0 % NEUTROGENA SUN CARE PRODUCTS WE PEN ARE O DAY R SATU 30TH! JUNE 25% WEBBER NATURALS COQ10, CELADRIN OR GLUCOSAMINE SELECTED TYPES AND SIZES *OUR REGULAR RETAIL PRICE OFF* 499 EACH WEBBER NATURALS PGX DAILY 750MG SOFTGELS 90'S 20 12 SANTA FE $ 1499 EACH WITH WITH 2199 EACH INCLUDES: 17" ALLOY WHEELS · BLUE TOOTH · ROOF RAILS · AIR CONDITIONING · POWER HEATED OUTSIDE MIRRORS · iPOD®/USB/MP3/AUXILIARY INPUT JACKS INCLUDES: $2,000 FACTORY TO DEALER CREDIT. SANTE FE GL · AUTO TRANSMISSION. DELIVERY, DESTINATION & FEES INCLUDED. PLUS HST Enjoy the 2012 Strawberry Festival WAS $ 26,499 2,000 $ 24,499 0 0 18,995 NOW NOW % 25% Off ALL GIFTWARE June 28 - July 2, 2012 Check us out on Facebook FINANCING FOR FINANCING FOR 24 MONTH S 72 MONTHS 2011 2 010 2010 & 2011 Readers Choice Award Winner 67 Automall Boulevard (Millard & Hwy. 48) 905-888-7777 · stouffvillehyundai.com N Golf Course Stouffville Rd. HWY. 48 Millard St. Main St. 6212 MAIN ST., STOUFFVILLE 905-640-3324 Prices in June 28 until Sunday, July March 8, 201225, Prices in effect effectThursday, Thursday, March 15 until Sunday, OPEN SUNDAYS! FREE DELIVERY!