A draft of the 2012 audit has been released and it shows the city's surplus has increased by about a million dollars over last year.
On paper the city has a surplus of 208 million dollars, but chair of the
finance committee Ron Lunny says that figure is misleading because it includes items such as roads and bridges, things he says are actually liabilities instead of assets.
One of the reasons for the increased surplus is a reduction in OPP costs
last year.
Lunny says with an 8.5 percent wage increase due next year, he doesn't anticipate the surplus will be as large in the future.
