Algonquin Highlands is in good financial shape after 2017. That’s according to auditor Carl Pahapill, who says Algonquin Highlands was able to have a surplus for the last year of close to $900,000. According to the report, the township was originally forecasting a deficit of over $200,000 for last year.
The report goes on to say that the amount of cash in reserves grew from around $4.4 million at the end of 2016 to over $5.1 million last year. The township’s municipal debt was also reduced by close to $50,000 bring the total to just over $170,000. Pahapill says these are all signs of good financial health.
Mayor Carol Moffatt says the surplus will be placed in the working funds account to manage the day-to-day operations of Algonquin Highlands. She also applauds staff and council for their work in managing taxpayer dollars.