The Town of Stellarton is in good financial shape according to audited financial statements presented at the town’s recent council meeting.
According to the auditor, the Town of Stellarton had a consolidated net surplus of $2.57 million for the fiscal year which ended March 31, 2018.
Overall expenditures were 2.1-per-cent lower than the previous fiscal year.
The town’s net financial liability increased by $337,000 over the prior year from $1.96 million to $2.3 million. During the year, the town reduced its long-term debt by $635,000 and increased investment in capital assets by $2.9 million.
