Bruce County appears to be in good financial shape.
An audit of the county’s 2008 financial statements concludes that the County is doing well in managing their finances.
The Countys Chartered Accountant — Steve Lowe of B-D-O Dunwoody — delivered his report to the Corporate Services Committee yesterday.
He says the County finished 2008 with a surplus of 800 thousand dollars.
Lowe says the County is in a fairly strong financial position with a strong balance sheet that is operated within their pre-set budget and an adequate reserve structure.
He feels they have been able to maintain a strong operating system by adopting many of their suggestions.
Lowe says the County hasn’t been affected by the slumping economy but forecasts an increase in Ontario Works caseloads and falling property assessments especially in the manufacturing and commercial sector.
He says the County will be able to take advantage of more infrastructure money for capital projects in 2009 as they have been putting money in reserves.