A Dryden Councillor is questioning staff on the whereabouts of two special accounts set aside by the previous Council.
Ken Moss says money was supposed to be allocated for various work, but notes there is no special account as directed by previous by-laws.
Moss says Council restructured two debentures, which means they didn’t pay the principle in 2014 and 2015, resulting in balloon payments in 2016 and 2017.
He adds a Water Reserve account was also set up to pay for needed upgrades to water and sewer infrastructure.
The City is projecting an additional $2.2-million in extra revenue this year, but Moss cautions that money will have to be used to cover the debenture payments and other work.
