‘Sound fi­nan­cially’

Re­gion of Queens’ 2016-2017 au­dited fi­nan­cial state­ment re­leased

The Queens County Advance - - FRONT PAGE -

Care­ful fi­nan­cial man­age­ment is one of the main rea­sons the Re­gion of Queens re­mains in strong fi­nan­cial shape, says Mayor David Da­gley.

The Re­gion of Queens Mu­nic­i­pal­ity ap­proved a mo­tion to ac­cept the au­dited fi­nan­cial state­ment and trust fund state­ments for the fis­cal year end­ing March 31, 2017.

Michael Metcalfe, au­di­tor for the Re­gion of Queens from the firm Bel­liveau Veinotte Inc., pre­sented the au­dited fi­nan­cial state­ments for the 2016-2017 fis­cal year at the Re­gion of Queens’ au­dit com­mit­tee meet­ing Sept. 26.

“We were pleased to re­ceive con­fir­ma­tion that the Re­gion of Queens re­mains sound fi­nan­cially. This is largely re­sult­ing from care­ful fi­nan­cial man­age­ment, and es­tab­lish­ing cap­i­tal and op­er­at­ing re­serves in an­tic­i­pa­tion of spe­cific cap­i­tal and op­er­at­ing needs,” said Da­gley.

“In th­ese times of in­creas­ing pres­sures on tax dol­lars, pru­dent and care­ful bud­get­ing con­tin­ues to be a pri­or­ity of this coun­cil’s man­date.”

Prop­erty taxes re­mained con­sis­tent and gen­eral op­er­a­tions ended the fis­cal year on March 31 with an op­er­at­ing sur­plus. This was mainly at­trib­uted to un­ex­pected rev­enue in the deed trans­fer tax and will be re­served for fu­ture needs.

The wa­ter util­ity’s op­er­at­ing state­ment was static this year, fin­ish­ing with a small sur­plus of $3,873.

Copies of the 2016-2017 Au­dited Fi­nan­cial State­ment are avail­able by con­tact­ing the Re­gion of Queens Mu­nic­i­pal­ity by email or phon­ing 902-354-3453.

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