The City of Vernon says its financial house is increasingly in order.
Council received the 2015 audited financial statements Monday.
“Council has contained expenses to an increase of 1.4 per cent and moved into a net asset position,” said Will Pearce, chief administrative officer.
“Our costs are well managed and year-end balance is positive. If I compared this to a typical family budget, our expenses have been brought into control and are less than our predictable income. We are setting money aside to repair our home in a timely manner to ensure it is sound and safe.”
The financial statements indicate $754,506 remaining from 2015 that can be allocated to reserves or council initiatives.
“We can discuss this at the finance committee in June,” said Kevin Bertles, director of financial services.
This is the fifth year that KPMG has done the city’s financial statements.
“This was the smoothest yet in terms of the audit,” said Murray Smith, chartered accountant.