Kenora councillors are pleased to see a small surplus from their annual audit. However, Mayor Dave Canfield says the numbers for their accumulated surplus can be a bit misleading.
"I don't think there's too many people buying bridges and roads and city halls," he said, after the auditor's report. "It's really not a surplus."
According to the auditor, the city has an accumulated surplus of about $228 million, but this includes an appraisal of capital assets, such as roads and bridges.
The auditor says there was also an annual budget surplus of about $1.4 million, when comparing revenues against expenses for 2017. The city has a budget of about $45 million.
For more information: