City accounts in good shape amid long-term concerns

The city’s treasurer says there’s no reason to fret over their long-term financial situation.

Jim Howie says a big part of their debt is for assets they haven’t paid off as of yet, adding the general fund is in good shape.

This, after Timmins city councillor Joe Campbell expressed concern over debt loads going up, combined with the impending loss of revenue when Dome and Kidd Operations shut down.

The topic was brought up when Howie presented the audited city financial report for 2015, which saw no discrepancies.

By the way, you can view the full financial statement for the city in their report HERE.