The City of Owen Sound says its fiscal health is improving, a statement backed up by a provincial review.
The city recently received its 2023 Financial Indicator Review from the Ministry of Municipal Affairs and Housing.
According to the city, the report confirms that its key financial indicators are within low-risk thresholds, meaning metrics such as debt levels, reserves, and revenue stability do not pose any major financial concerns.
"The City of Owen Sound remains dedicated to maintaining the highest standards of financial stewardship," said Mayor Ian Boddy. "We take our responsibility to the taxpayers seriously and remain committed to ensuring that public funds are managed effectively and transparently."
The city pointed to several areas where it has improved over the last five years, including lowering debt servicing costs, a strong cash ratio, and reserve and discretionary fund balances that represent over 70 per cent of municipal expenses.
"Each of these indicators reflects a healthier financial position than in previous years, with steady year-over-year improvement across key categories such as sustainability, flexibility, and asset management," read a statement from the municipality.
The full Financial Indicator Review is available upon request. For more information, please contact Kate Allan, Director of Corporate Services.
