Springhill balances its books

Christopher Gooding
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SPRINGHILL - For the first time since being elected to office in 2004 Springhill's town council has balanced their books.
In presenting the audited statements for the year ending March 21, 2007, chartered accountant Mike Hunter of Jorgenson & Bickerton congratulated the Town of Springhill and its directors for bringing their departments in line.
"You're in a very good position going into the New Year," Hunter said. "You've really turned it around."
Springhill's general operating fund changed its balances by more than $400,000 between 2006 and 2007 helping absorb a $337,000 deficit the town went into the 2007 year with. If the town can repeat history and end its 2008 financial statement with another $98,000 surplus, Hunter says, the town will free itself general operating fund of its long-term deficit.
"If they have another year or two like they just had they'll be in a really good position. They're on the right track," Hunter said.
Spirits were at all-time high as mayor and council praised the community's directors for their hard work and diligence towards generating council's first surplus year.
"It's almost to a point I might want to run again in the upcoming election with a report like that," Mayor Guy Brown said.
Springhill's water operating fund sat heavy on the plus side of the ledger with more than $150,000 in surplus. The report, Hunter reminded, reflects the year ending in March 2007, when Springhill's new water treatment plant would only have been operational for six months. The year ending 2008 will be much more expensive, he says, but recent increases in water taxes are expected to offset the expenditures.

Organizations: Jorgenson & Bickerton

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Recent comments

  • Jim
    January 18, 2010 - 11:12

    Well for starters they should pave Mcgee and Mcdougall Streets, I have never seen roads this bad anywhere in my life. The high taxes that we Springhillers pay we shouldn't have to drive on roads like these, gravel roads in the province are in much better shape than these two streets and theses are only two of many, and by the way cold patching just makes the street worse than it was before they did it, come on we deserve better than this...