It was good news for the Town of Smiths Falls at Committee of the Whole Monday night. Howard Allen of Allen and Partners gave a brief overview of the financial statement for 2017. Generally speaking, there is a “surplus of $400,000, there is less of a deficit, and the Town’s situation has improved by $1.1m, that is, the net debt has been reduced by that amount.” He explained this reduction by pointing out that some of the bigger projects were not started on last year, like the municipal complex.
He continued. The Town’s situation is “constantly improving, and this year tax arrears are the lowest they’ve been in the last few years.
“The message is clear. In 2017, the Town adhered to the budget.”