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Stellarton Town Council Approves Financial Statements

Stellarton’s audited financial statements for the fiscal year 2020-2021 were approved by town

Mayor Danny MacGillivray (Town of Stellarton photo)

council last night. The statements showed a consolidated annual deficit of $403,000, which includes $1.7 million of amortization of capital assets. The net debt position of the town increased by $182,000 over the previous year to $338,000, while long-term debt was reduced by $897,000.  Mayor Danny MacGillivray says while things are a little tighter financially, Stellarton is doing well.

 

FCI refers to Financial Condition Indicators, which can be found under the Department of Municipal Affairs at NovaScotia.ca.