The financial situation in the Town of Shelburne is improving.
Mayor Harold Locke says it was dire three years ago when he ran for mayor, and a major emphasis was placed on improving it.
Locke says the province recommends the reserve balance be 20 percent of the general operating budget, and this coming year it will be seven percent over that amount.
“We are hopeful that this trend will continue. We will be focusing on improving our other reserves, with capital being a priority in the future,” says Locke.
He says tax rates are going down three cents per $100 of assessment for residential homeowners to $2.03.
Locke says they’re not totally out of the woods, but the future looks bright.
“Without any unforeseen major expenditures, we will be in a great financial situation. This is a great accomplishment of staff and council, and shows just what working together can do.”
The operating budget will be $3.9 million.
