Tuesday, March 13, 2012

Council Covers Economic Development Deficit

Kenora City Council seems to be in a forgiving mood.

Council has agreed to fund an almost 50 thousand dollar deficit for the Lake of the Woods Economic Development Commission in 2011.

Councillor Sharon Smith says over the past few years, the Commission has consistently had a surplus.

But she says the accumulated surplus was only 80 thousand dollars, not 130 thousand, as the commission was led to believe.

That left them with a bit of a shortfall last year, due to extra costs for consulting fees on the Lakewood School project and the commissioning of the new Discovery Center.