Belleville’s “financial indicators are improving.”
That was the word from the city’s Director of Finance Carol Hinze to city council on Monday.
Hinze’s report states, “Like most municipalities in Ontario, the demand for capital funding outweighs the supply of available funds as we strive to replace aging infrastructure and accommodate new development and expansion. This, along with ensuring a reasonable level of service for city residents, imposes a significant challenge to keep taxes and user rates to an acceptable level.”
“Despite these pressures, many financial indicators are improving, including our overall liabilities, revenue and surplus, and should be positively received by our external partners as they utilize our statement to analyze the city’s financial position.”
Council received the 2018 financial statement from Doug Churcher of Welch and Company.
Mayor Mitch Panciuk tells Quinte News the city is in “fairly good shape.”
Anyone interested can read the financial report on the city’s website.
