Dryden Receives Financial Report Card

Dryden has received its financial report card from the Ministry of Municipal Affairs and Housing, and things aren’t looking very good.
City Manager Joe van Koeverden says our debts are high and our available cash is low.
He adds that we are really far off from the other communities in the region, and that if everyone in the region was in the same position, then each community to work together to find a solution.
The net financial assets or net debt a percentage of own purpose taxation plus user fees is -126.1%, which is five times the average of other communities with a population between 2,500 and 10,000 people.
The net debt as a percentage of total operating revenue comes in at -69.7%, which is also five times the average of other areas in the region.
The total cash and temporary investments as a percentage of operating expenses is 0.7%, while a LOW figure would be greater then 10 %.
Van Koeverden says it’s going to be really tough, and there will definitely be service cuts and job losses in the nearby future.