Dryden Financial Outlook Not Looking Brighter

A warning has been issued to Dryden department managers…find savings!
Treasurer Linda McNaughton provided an update on the 2012 finances last night and warned that the City is $387,000 in the hole.
McNaughton says the deficit will likely be higher as she’s anticipating a bad outcome from the Dryden Mill assessement.
She says a review will result in an additional loss of $720,000, which is a “best case scenario”.
The deficit doesn’t include Dryden Mobility’s roughly $3-million operating loss.
McNaughton says the 2012 tax increase will remain at 5% but 10% is the likely figure.
However, Council warns it may be larger if cost cutting measures aren’t found.