Here are some other interesting excerpts from the Audit Committee Minutes.
Responding to a question from Councillor MacKay, Mr. Duffett provided a breakdown of the total amount of cash in the amount of $2,295,115 and where it was located in the various funds. As an example $1,299,221 can be found in reserves.
Mr. Duffett further noted that the cash represented approximately ten percent of the total assets of the Town, and that was a good position to be in.
An understatement? Good for who? And the other $1,000,000?
Responding to a further question, Mr. Duffett acknowledged that Protective Services increased
from $1,871,491 to $2,531,477 because the Town booked the acquisition of a major fire
apparatus which arrived in early May of this year.
That must be the ~$400,000 fire truck we heard about that the fire dept. had NO trouble getting a cheque for. A little further on we see this:
Mr. Duffett noted that for members who seek details on the disposition of reserve funds, that information is available in Note 11, on page 14 and 15. He further informed members that there was one major subsequent event showing in Note 12. The Town received debenture funding of $493,000 payable over ten years. Funds are going towards a fire truck $398,000, sidewalk improvements $9,000, and parking improvements $50,000
There’s that fire truck again. They/we borrowed money to pay for it. Was this expenditure discussed at Council? We couldn’t find it.
Parking improvements? Where, at Railtown?
PS – we note they have turned off the comments at the ToW website.
The Town is currently performing upgrades to the public website. During this upgrade process it is necessary to disable the commenting tool while we perform these upgrades. This function will be restored as soon a possible.
We hadn’t noticed anybody commenting, had you? Anybody? Wimps.