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Wednesday, February 14, 2018

Reserves Update In Wasaga Beach

Wasaga Beach | by Catherine Thompson  
The town of Wasaga Beach is in a good position when it comes to its reserve funds.

The town of Wasaga Beach is in a good position when it comes to its reserve funds.

The Committee of the Whole was told on Tuesday afternoon that there was 34 million dollars in reserves as of December 2016 and 37 million at the end of 2017.

The committee was getting a look at the preliminary year end financials.

Councillors also approved moving money around between various reserve funds.

The Beachfront Property Management reserves have a 2.9 million dollar deficit. Councillors were told that is because it was new in 2017. The reserves for Beach 1 and 2 improvements has a shortfall of 1.4 million dollars. The Main Street Market reserves has a deficit of almost 239 thousand dollars.

The committee will get a look at the final financials for 2017 at its next meeting in March.

The Committee of the Whole is also recommending that full council approve giving annual  municipal grants to Big Brothers, Big Sisters of the Georgian Triangle, the Cybergnomes, the Elmvale Curling Club, the Stayner Granite Curling Club and Wasaga Community Theatre, as well as the Kinette Club of Wasaga Beach and three others.

The approved budget amount for these grants is just over 39 thousand dollars and there is still over 12 thousand dollars available.

And the grants that come from Wasaga Distribution every year will be distributed as five thousand dollars to Breaking Down Barriers, five thousand to the YMCA Strong Kids Campaign, five thousand dollars to Hospice Georgian Triangle and 15 hundred dollars to Crime Stoppers.

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