Wednesday, May 23, 2012

Poor First Quarter Results for the KMTS Citizan's Trust

A disappointing start to 2012 for Kenora's Citizan's KMTS Trust Fund.

Figures released by the city show the trust earned just 0.12 percent in the first quarter of this year.

Chief Administrative Officer Karen Brown says they still expect to meet their target of five percent by the end of the year, but admits it was a disappointing start to the year.

Councillor Louis Roussin has suggested the city could lend some money from the trust to the Kenora District Services Board to help pay for the new land ambulence base on Barsky's Hill.

He says that would provide a better rate of return for the city.