Region of Queens’ 2016-2017 audited financial statement released
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.