North Stormont’s financial statements show surplus of $86,000

North Stormont Township headquarters in Berwick. Zandbergen photo, Nation Valley News

BERWICK – North Stormont Township’s financial statements for 2017 are not only in good standing but they were also presented and explained to municipal council on Tuesday, April 10, a number of weeks early.

Simply stated, financial statements constitute a record of the financial activities of an entity and how it is positioned, relative to preceding years. It also offers a status analysis.
The bottom line: North Stormont Township shows a surplus of $86,000.

Ken Fraser, partner with Welch LLP in Cornwall, said of the 2017 year: “The township is heading in the right direction. It’s allocating funds to reserves, which is always a good thing.” As Welch LLP has been doing the auditing for two years now (2016 and 2017), he added: “The municipality has turned around very well.”

Mayor Dennis Fife is also pleased with 2017’s outcome. “As grant money becomes scarcer at the Federal and Provincial levels, all municipalities in Ontario face the same challenge: watching over expenditures and finding ways of doing more with less. I am happy to see the efficiencies which we enacted produced such a favourable result. I thank my colleagues on Council for having made timely and sometimes difficult decisions, but the results speak for themselves. Ratepayers in North Stormont Township may rest assured that we took on our financial challenges and that this municipality is in excellent standing.”

 

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