Prince Edward County has an almost $1 million surplus and council must decide what to do with it.
The net operating surplus for the County’s Tax Supported Budget as of December 31 is $996,000.
A staff recommendation presented to the Committee of the Whole today suggested splitting the surplus between the Reserve for Tax Rate Stabilization and the Reserve for Roads Equipment.
The motion originally advised to place the entire sum in the Reserve for Tax Stabilization, however, this was discovered to be an error and conflicted with the report being presented.
The committee amended the motion to split the funds as recommended in the report and then passed the new motion. The motion must still pass council at a later date.
