Town's reserve funds are healthy

Treasurer Sam Jones recently provided Caledon council with an update on the Town's reserves and reserve funds as of Dec. 31, 2007.

The reserves included $11.7 million in the reserve for working funds, $2 million in the reserve for contingencies, $367,867.09 in the mill rate stabilization reserve, $72,803 in GO Transit funds, $47,801.92 in the building permit stabilization reserve, $31,116.41 in the BIA reserve, $26,470.80 in the CC-SK8 Park reserve and $14,192.49 in the animal shelter reserve.

The Town's obligatory reserve funds included $11.1 million in the hydro reserve, $2.1 million in development charges, $380,858.08 in five per cent in lieu (parks) and $26,464.74 in the federal gas tax rebate.

The Town's discretionary reserve funds included $132,649.33 in the winter maintenance reserve and $3,000 in the parking program - cash in lieu.