A quarter of the way through the year and the 2008 budget for Grey Highlands is performing as expected.

Grey Highlands CAO/Treasurer Kelley Coulter provided council with a complete budget update at its regular meeting on Monday morning.

Coulter presented a thorough report to members of council at the meeting. The report provided financial information for every municipal department. A quarter of the way through the year, the budget is slightly behind what was projected.

After adjustments for revenue and expenses that weren't factored into the numbers presented to council, the budget is over approximately $44,000. Coulter did point out that the winter control budget for the municipality in the early part of 2008 was higher than expected due to the poor weather early in the year.

Council wasn't alarmed by the slight deficit, because it brought forward a surplus figure from 2007 into the 2008 budget to be used to fund some operations in 2008.

Coulter also promised council during her presentation that budget tracking and reporting was only going to get better in the future.

"Beginning with March 31, council shall receive a detailed report on a monthly basis. A year-to-date analysis shall be provided to council at the second council meeting of July, for June, October for September and January for December," said Coulter in her report.

Members of council were pleased to see updated budget numbers and were happy to hear financial information would continue to be presented in a timely manner.

"This is a great report. It's a giant step forward," commented councillor Stewart Halliday.

During an interview after the meeting, Mayor Brian Mullin said the 2008 budget was performing as forecasted.

"We're tracking pretty good. We're moving things up a step with the way the reporting will be done. We're going to have monthly reporting. We have that capability now," said Mullin. "Individuals at the council table will be able to track different budgets they're interested in. We're almost into real time budget tracking," said Mullin.

In other financial news, Coulter reported to council that the municipality's various water and sewage departments (separate entities since they are supported by user fees and not general taxation) are also operating within budget. The CAO offered strong praise to members of staff responsible for the improvement in financial reporting for those departments.

"This is a long way from where we were 12 months ago," said Coulter.