City's finances in good shape

A positive financial picture for the City of North Bay.

Mayor Al McDonald says they’ve received the audited statements and the city’s financial position has never been stronger.

“Our cash and investments are up by $20-million, so now we have about $64-million in cash and investments, our debt is down by $10-million over 2015 to $64-million,” he says.

McDonald also says they have about $900-million in assets and they’re very liquid.

“Over six months worth of reserves,” he says, “the audited statements show that we’ve been investing significant amounts in our infrastructure.”