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Wednesday, April 11, 2012

Rothesay Gets Glowing Report On Its Finances

The town of Rothesay is in solid financial shape.......That word delivered to town council by its auditors and the timing couldn't be better for Mayor Bill Bishop who's running for re-election. 

The town's debt servicing ratio is 6.6 per cent which is lower than the provincial average of 11.3 per cent and the Mayor says the town is also in good shape with it somes to its pension liability, especially as compared to other municipalities.
 
The auditors report the town's revenues are continuing to increase because of growth which they warn will have to be managed. 

Town Council has been told a fifth building being proposed for Marr Road and Hampton Road has been put on hold pending a traffic study.