The City of Quinte West continues to be in good financial shape.
Audited financial statements for 2019 show an over $10 million accounting surplus which is the fourth year in a row Quinte West has had a surplus.
City staff say accounting surpluses, which aren’t the same as budget surpluses, show Quinte West is closer to achieving a sustainable annual capital projects plan. Reserve funds also increased by $4.6 million last year to a total of over $26 million.
The financial statements also indicate Quinte West can easily pay its short term liabilities and carry its debt load moving forward.
