The town of New Glasgow’s finances continue to be in good shape.
New Glasgow Mayor Nancy Dicks
At last night’s monthly meeting, Kevin MacDonald of the accounting firm MacDonald & Murphy presented the audited financial statements for the town ending March 31st of this year.
The town posted a consolidated surplus of $3.79 million, which included surpluses in the operating fund and the water utility fund. Mayor Nancy Dicks said while some of the consolidated surplus is due to COVID-19 relief funding from Ottawa, most can attributed to sound financial planning from staff in all departments.
Mayor Dicks noted that New Glasgow’s Operating Reserve now sits at $4.89 million, supporting New Glasgow’s high service levels while continuing to save for future needs.