Financial audits show improvement in Town books

The Town of Golden has gone through its annual financial audit, and senior auditor David Adams has some positive news to deliver to council.

The Town of Golden has gone through its annual financial audit, and senior auditor David Adams has some positive news to deliver to council.

“Every major indicator has improved over the last three years in Golden,” said Adams during a presentation to council last week.

“A lot of that is due to prudent financial management.”

Two years ago, the net debt for the municipality was around $1.5 million, and now it is down to about $100,000 says Adams. Not only that, but the Town’s assets have also increased, and now amount to $6.1 million, most of which is made up of cash.

The largest liability the Town has at the moment is long term debt, currently totaling just over $3 million. The payment schedule has the municipality paying off that debt up until 2029.

Members of council will be going over the audit statements in more detail at the next Standing Committee on Finance meeting with Chief Financial Officer Lisa Vass.