Amherstburg Leaving Financial Hardships In The Past
More evidence that the Town of Amherstburg has its finances back on track.
The town posted a $783,000 surplus in its 2016 general operating budget.
The extra cash is being sent to a number of reserves and will help pay down close to $300,000 in debt for the Texas Rd. reconstruction project.
Mayor Aldo DiCarlo says the town is in a much better position than it was just a few years ago. "Considering our financial situation just a couple years ago, that was quite refreshing news. When you look at the details of how we got there, some was circumstance and some was very planned."
"Loose financial tracking that led to Amherstburg's money crunch has taught the town some tough lessons," says DiCarlo. "One thing I hope everybody's learned from the past financial issues is how important reserves are, and in the long-term, I think that will translate very well for Amherstburg's financial situation."
The surplus will help fund two newly created reserves -- $100,000 is going into the Libro Centre Reserve Fund and $15,000 will go into the Economic Development Reserve Fund.