The Town of Smiths Falls received their 2021 audit findings by independent accounting firm KPMG, and the finances are in good shape.
The town’s net debt is trending down while the income is increasing, all the meanwhile maintaining a steady year-over-year tax rate increase.
KPMG’s Carole Fuller says the books look good.
Councilor Jay Brennan asked KPMG’s Carole Fuller about ways to approach inflation, and she said continuing to properly manage the town’s assets is the way to go.
Smiths Falls collected about $3.8 million in extra revenue in 2021 creating healthier reserves and chipped away at their net debt by about $6 million.
Story by Grant Deme
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