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Woodstock Audited

Friday, 11 July 2014 at 04:57

The City of Woodstock received top marks in a third-party audit of its 2013 finances

WOODSTOCK – A third-party audit shows the City of Woodstock did a good job managing its finances in 2013.

"The city was maintaining lower debt levels, and managing their cash flow, and increasing their savings through reserves and reserve funds," said Christene Scrimgeour, a chartered accountant with Scrimgeour Chartered Accountants

Scrimgeour audits 12 municipalities across Ontario, and says the Friendly City matches up.

"[Woodstock is] staying on par in increasing their liquidity. That's the kind of trends that I look for. I'm seeing that pretty much across the province as many projects have come to a close from a capital standpoint and municipalities are starting to put away savings again.

Scrimgeour presented her findings at Thursday night's City of Woodstock council meeting.

The entire audit is available in the agenda for the July 10 council meeting.

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