Town council has approved the 2015 audited financial statement and has received a positive review from its auditors.
“These are a clean set of financial statements,” noted Ryan Wachter, senior accountant from BDO Canada's Red Deer office during his presentation to council on April 11. He also noted the good financial health of the town, which is carrying a debt of only $500,000. Under the Municipal Government Act, towns in Alberta cannot exceed a debt load of more than $25 million.
“The audit was what we expected,” said Mayor Brian Spiller. “We run a good clean operation here with virtually no debt to revenue ratio. Even a little bit of debt with today's interest rate wouldn't be bad.
“But we have very little and we are not going to take debt on for the sake of taking debt on if we can do our projects and keep our infrastructure good with cash on hand,” added the mayor. “We are in very good shape.”
