Edmundston adopts 2017 financial statements, which indicate surpluses for three funds

The City of Edmunston says it has adopted the 2017 financial statements, which show surpluses for three funds. 

The City says the general operating fund shows a surplus of more than $17,000 under the budgetary methods. 

The electric utility fund indicates a surplus of over $39,000, while the water and sewer utilities operating fund register a surplus of approximately $33,000. 

The City says these surpluses will be included in the respective budgets in 2019 as outlined by the New Brunswick Local Governance Act. 

The net debt for 2016 is $79.5 million, while the consolidated surplus is $19.2 million according to the Canadian Public Sector Accounting Standards.