TEXT SIZE: Decrease text size Reset text size Increase text size Print Page

MuskokaONline.com News - #GOTLOCAL

District sees impressive growth

District sees impressive growth

Posted: 2022-08-15 07:32:01 By: thebay

The Finance and Corporation Committee Chair, Peter Kotsier announced, “Growth is up significantly in the District,” in the District of Muskoka Council meeting on August 8, 2022.

Kotsier referred to the current financial statements as “quite positive,” adding, “I must take my hat off to what the District Council 1…2…3 terms ago decided to be more responsible and are watching our debt go down and our reserves go up, which is a very positive story, and I think quite impressive. And my hat is off to all those responsible directly and indirectly for that.”

The District Board of Directors head’s a “sizable organization” indicated Kotsier, as he elaborated on the report, indicating, “We have a municipality that has over $122,000,000 (one hundred and twenty-two million dollars) in net assets and well over a half a billion dollars in tangible assets.”

The 2021 Quarterly Investment Report also showed an increase in the development reserve charges. Kotsier said, “The reserves have gone up impressively, and most importantly because there’s been a lot more development happening than was predicted.” He adds the opposite is happening in this area, adding, “Before, growth was less than what was predicted, now it’s more than predicted.”

Other highlights in the report, included an increase in waste and wastewater rates, and a new accidental water leak policy, to accommodate residents for increased rate surprises resulting from billing delays that would otherwise create awareness of excessive water usage.