Wellington North in Good Financial Shape
July 15, 2014 5:52am
Wellington North got some good financial news from its auditor.
Among other things the auditor reports unpaid taxes stand lower than average in Wellington North. And the auditor says growing reserves put Wellington North in a good position to go forward in 2014.
Wellington North’s annual surplus grew by almost $1-million in 2013, going up to $1.3-million.
But Financial chair Andy Lennox says the municipality is still not replacing infrastructure and equipment as quickly as it is wearing out.
He says, “Things are progressing nicely in terms of preserving our financial health. Our reserves are going up, our debt is coming down, but we’re still facing the challenge with how to fund replacing our infrastructure.”