An independent auditor is finding the Town of Saugeen Shores is in a healthy financial position after looking at 2021 financial statements.
The town says it received a report on Oct. 10 from BDO.
The report showed that by spending $17.5 million on capital assets, the town was investing in infrastructure including the Lamont Spots Park, McEwing Bridge, and road and water projects.
The town also saw an over $6 million increase to its reserve and reserve funds, now at over $39.3 million. These funds will be used for future capital investment like the proposed Aquatic and Wellness Centre.
Additionally, the town had an over $400,000 surplus in its operating budget, which was transferred to the tax stabilization reserve, or what is called a rainy day fund for the town.
Mayor Luke Charbonneau says they are making significant investments in the town’s future by spending on capital projects and infrastructure.
“We are able to do this because of our substantial financial reserves. Careful planning and financial discipline are both key to helping us manage the growth in our community while improving the quality of life for residents,”says Charbonneau.
