Dryden City Manager Addresses Debt Amount

There have been some misunderstandings regarding Dryden’s debt load.
Mayor Craig Nuttall released that the current amount was over $43-million.
However City Manager Joe van Koeverden says the $27-million debt and $16-million in deficit shouldn’t be merged together.
Debentures have been taken out of the $27-million dollar long term debt, and there’s the cash flow debt which fluctuates but is currently low because the second installment of taxes just came in.
The $16-million dollar operating deficit reflects the shortfall of revenues over expenses during the past few years.
Van Koeverden says the most recent financial report has been filed, and that they are doing well from that perspective.
All in all, the city’s debt hasn’t jumped up, it was just the confusion of the terms “deficit” and “debt”.
A public meeting is scheduled for November 14th at 7pm at the Dryden Cultural Centre.