Smiths Falls “on the right track” – Auditor

May 16, 2018 by

06 SF LogoSmiths Falls is on the right track.  Not only is the town booming, with new businesses moving in and expanding, and new infrastructure projects littering the town, but according to the town’s auditor Allan and Partners, the town’s financial position is also on the mend.

“The town’s financial position has steadily improved over the past several years,” said Howard Allen at a presentation to committee on Monday May 14th.

According to Allen 2017 was a good year for the town financially. “It’s interesting to note that tax arrears in 2017 were the lowest in several years and the town’s net financial assets are constantly improving,” he told the committee.

Having said that, Allen pointed out that the town still has some work to do."You need to continue to build reserves," said Allen. "The province does expect municipalities to build up funds to maintain and replace assets."

Overall Allen's opinion is that the town’s financial health is definitely on the right track.

“Smiths Falls has taken on capital projects that others have not, which bodes well for the future,” concluded Allen.