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Council reviewed the numbers Monday, as it approved the year-end financial statements. The fiscal year was greatly impacted, both in revenue and expenses, by the ongoing pandemic.
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Try refreshing your browser. Cornwall clears 2020 with $855K surplus, two reserves too low Back to video
According to treasurer Tracey Bailey, the city used $8.2 million it received from the province to support departments that experienced a loss in revenue or an increase in expenditures due to COVID-19, including recreational, parking, transit, paramedic, tourism, and Glen Stor Dun Lodge. To assist residents, the city also deferred property taxes as well as water and waste water payments.
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