It was a good financial year in 2007 for the municipality of Kincardine.
Council received a report of the 2007 audit at last night’s council meeting.
Mike Bolton – of BDO Dunwoody in Port Elgin who performed the audit – says council is in good health with a large amount of money in reserves.
Council had about 21 million dollars in reserves at the end of 2007 which Bolton says is money for council for the future to spend on projects.
The municipality had 75 million dollars in total assets in 2007 with 37 million of it being long term investments.
Bolton says council had about 28 million dollars in cash in hand at the end of 2007.
Mayor Larry Kraemer says the audit was good news as there was no major surprises.
Kraemer says encouraging to hear about the amount of money in reserves as the money will be beneficial for council for years to come.
