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Bancroft’s debt is getting smaller: report

A burden that’s been carried by Bancroft taxpayers for years is easing.

The town is slowly trimming down a multi-million-dollar debt. 

A report going to council Wednesday shows that the town’s net financial assets were valued at about -$4.7 million dollars by the end of 2021.

The number has gotten closer to zero each year since 2017, when it was at about -$8.2 million. 

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Those figures were unveiled in a comparative analysis report delivered to a council by an independent financial auditor. 

Councillors will be able to look at several pages worth of important numbers at Wednesday’s special meeting to get an overall picture  of the town’s financial health.

The meeting is scheduled for 3 p.m. in the town’s council chamber. It will also be live-streamed on Bancroft’s YouTube channel.

 

 

 

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