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Saturday, July 15, 2017

Good Financial Shape for Brockton

Brockton | by Robyn Garvey  

Brockton has adequate reserves, cash and financial assets with the ability to borrow more money if needed.


An audit on Brockton has revealed that the municipality is in reasonably good financial shape.

Auditor John Bujold says Brockton has adequate reserves, cash and financial assets with the ability to borrow more money if needed.

The municipality ended the year with a 783 thousand dollar surplus while boasting  net financial assets at 2 million dollars and 5.6 million in cash.

Bujold adds Brockton has about 8.9 million dollars in reserves, but the Municipality also has 5.8 million dollars of un-financed capital projects.

Brockton’s liabilities did increase by 1.7 million dollars to 8.3 million.

This is partially due to the 3.1 million dollars in capital projects Brockton took on including Walkerton’s South Street reconstruction project.

All in all Bujold says the books are in order with Brockton in a positive reserve to debt ratio.

Mayor David Inglis is pleased with the results saying all indicators point to a healthy financial position for Brockton.


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