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Prince Edward Island > News > Local

O’Leary on solid financial footing

Finance chair says big-ticket items on horizon

SaltWire Network | Posted: Jan. 22, 2018, 6:51 p.m. | Updated: Jan. 22, 2018, 6:51 p.m. | 1 Min Read
Finance chair Carol Ferguson says O'Leary is in good financial position, prepared for growth.
Finance chair Carol Ferguson says O'Leary is in good financial position, prepared for growth. - Eric McCarthy

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O’LEARY

There are some big-ticket items on O’Leary’s horizon, finance chair Carol Ferguson reminded fellow town councillors during their January meeting.

Ferguson provided a preliminary review of the town’s finances in advance of its annual meeting in March. She said the town is in a good cash position with very little debt.

The good financial position, she suggests will prepare the town for some large expenditures just around the corner. She said council is getting close to moving on the building of a strip mall, possibly getting started this year.

In addition, the town recently signed a tender for a new pumper and will be responsible for a portion of the $730,000 purchase price. The new fire truck is expected to arrive in 2019.

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