FOR IMMEDIATE RELEASE
November 26, 2014
The 11th Council of the Town of Happy Valley-Goose Bay is pleased to release the audited financial statements adopted at the November 25, 2014 public Council meeting. Completed by Grant Thornton LLP, the statements provide a financial picture for the year ending December 31, 2013. A copy of the audited financial statements can be found here: 2013 Financial Statements
Highlights include:
Financial statements that illustrate the fiscal stability of the Town;
A 41.5% reduction in net debt; from $5,000,890 to $2,926,452;
Collection of $102,508 in outstanding arrears;
Continued investment in the maintenance of existing infrastructure;
Funding of new infrastructure initiatives for the betterment of the community.
“The Town of Happy Valley-Goose Bay is fortunate to be in a strong fiscal position with a low level of long term debt,” stated Mayor Jamie Snook. “This puts us in a good position to revitalize our town infrastructure, and budget 2015 will show that the 11th Council is committed to that revitalization and investing in 10 capital works projects. Initiatives will include water system upgrades, paving, green spaces, upgrading playgrounds, and continuation of the Wellness Centre project.”