The municipality’s draft audited financial statements were presented to council. North Grenville’s books were looked at by Allan & Partners LLP and Howard Allan provided council a brief summary of the audit on Monday night. The municipality’s revenue were nearly $23 million last year. Total expenditures in 2017 were $20.6 million. Allan says financial indicators for the municipality are not concerning.
North Grenville’s annual surplus dropped by $1 million between 2016 and 2017, down from $5.1 million to $4.1 million last year. Municipal equity rose by $4 million from 2016 to 2017. Net debt is also down from the previous year, from over $10 million in 2016 to $8 million in 2017. Allan says the municipality’s financial issues are decreasing.
The municipality is sitting at about $60 million in long-term liabilities. For the full audited financial statements, visit northgrenville.ca.