Pinehouse Village 2017 financial statement

Notable in the 2017 audited financial statement are:

  • Loss of $1,096,656 for Pinehouse Business North Limited Partnership, which is 100% owned by the Northern Village of Pinehouse (page 9).  Village-owned equity stands at $9,466,869 as at 31 December 2017.
  • The high remuneration paid to Village Council (page 26):
    • Mayor Mike Natomagan, $76,900 salary + $17,733 expenses *
    • Conrad Misponas, $66,100 salary + $33,804 expenses
    • Vince Natomagan (outgoing), $3,400 salary + $6,355 expenses
    • Betty Ann Natomagan, $2,500 salary + $1,575 expenses
    • Leona Lariviere, $2,400 salary + $262 expenses
    • Walter Smith (incoming), $600 salary + $1,262 expenses

Total cost of Village Council was $212,891; municipal tax revenue was $194,904 (page 12).

* It seems that mid-way through the year, Mayor Mike stopped charging the Village $200 per diem whenever he was out of town on business.  But his salary with Pinehouse Business North was raised in December to more than compensate for this loss in income.

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