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Date: Jun 08, 2023
For Immediate Release
Town of Erin Reports Surplus for 2022
Demonstrates sixth consecutive year of strong fiscal management
ERIN, ON: The Town of Erin today announced yet another year of exemplary fiscal management, as it reported a surplus for the fourth quarter of 2022. This achievement marks the sixth consecutive year that the town has demonstrated its commitment to sound financial practices and effective governance.
The surplus, amounting to $545,405 is testament to the diligent efforts of the town's administration and the responsible decision-making of its leadership. Through prudent budgeting and efficient resource allocation, the Town of Erin has successfully maintained a strong financial position, ensuring continued value to residents and sustained growth of the community.
One of the key benefits resulting from the surplus is the contribution it makes to the Tax Stabilization Reserve. This reserve acts as a safeguard against unexpected economic fluctuations and provides a buffer to mitigate potential tax rate increases for residents. By bolstering the reserve, the Town of Erin demonstrates its commitment to long-term financial stability while alleviating the burden on taxpayers when required.
The surplus not only contributes to the Tax Stabilization Reserve but also presents opportunities for the town to invest in various community initiatives, infrastructure improvements, and essential services. As the surplus announcement reinforces the Town's solid financial position, the management remains dedicated to transparency and accountability. The quarterly financial reports and audited statements are available to the public for review and scrutiny.
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"The surplus at the end of 2022 and the consistent fiscal management displayed by the Town of Erin is a testament to our commitment to the responsible stewardship of public funds. The surplus will provide future value for residents and the community. We are proud to have maintained this positive trend for the sixth consecutive year, which is a direct result of the hard work and dedication of our team."
- Mayor Michael Dehn
To access the complete quarterly report, please visit https://www.erin.ca/town-hall/budget-and-financial-statements