Town ‘has a lot to be proud of’: accountant

By Jay Gutteridge Simcoe.com Oct 21, 2010
Financial statements show town has $230-million surplus
The Town of Bradford West Gwillimbury received a positive review on its 2009 financial statements from Gaviller & Company Chartered Accountants.
“The town certainly has a lot to be proud of,” said Sue Bragg of Gaviller & Company, noting the town’s long-term debt is well within provincial guidelines and the town has a good amount in reserves.
The financial statements arrived about a month later than last year, in part because the draft statement for the Bradford West Gwillimbury/Innisfil Police Services Board wasn’t available until Sept. 20, Ms Bragg said.
Also, under a new provincial policy, all municipalities had to complete an inventory of their capital assets for 2009.
“Everyone is struggling with this,” Ms Bragg said, noting only about 20 per cent of municipalities had sent their results to the province.
Bradford West Gwillimbury finished 2009 with an accumulated surplus of nearly $230 million, compared to just more than $216 million in 2008.
Town council received the statements, which are scheduled to come back before council for approval at its first meeting in November.