August 14, 2018; Liverpool, NS: The audited financial statement and trust fund financial statements for the fiscal year ending March 31, 2018 were adopted by Region of Queens Municipality’s Council at their August 14, 2018 Regular Council meeting. An overview of the audited financial statements from the 2017/2018 fiscal year was presented by Paul Belliveau and Michael Metcalfe, of the firm Belliveau Veinotte Inc., independent external auditors appointed by the Municipality. He previously reviewed the audited financial statements at the Region of Queens Municipality’s Audit Committee meeting on August 7, 2018.
“Prudent financial planning, strategic investments in our community, and careful budgeting remain a priority of this Council, and we are pleased that the Region of Queens continues to remain in a strong financial position,” said David Dagley, Mayor of the Region of Queens Municipality.
General operations ended the fiscal year, March 31, 2018 with an operating surplus of $138,233. Higher than anticipated deed transfer tax revenue accounted for a large percentage of the surplus. While the water utility operating statement was mainly static this year, the maintenance and repairs budget was overspent due to a water line break at the water treatment plant in February, 2018.
The 2017/2018 Audited Financial Statement will be posted on the Region of Queens website at http://www.regionofqueens.com/municipal-services/finance/financial-statement/audited-statement by the end of the week.