LITTLE CURRENT—The Manitoulin Centennial Manor board was pleased to learn that according to its 2016 audited financial statements, the Manor has an $8,000 surplus.
“It is very good news when working with a balanced budget,” said Manor administrator Michelle Bond of the surplus. “We had some savings under expenditures—we didn’t have any large issues with equipment or other repairs like we have had in past years.”
Cory Houle of Freelandt Caldwell Reilly LLP presented the 2016 audited financial statements to the board.
The report identified an $8,723 surplus, compared with a $134,282 deficit in 2015.
Despite the surplus, Ms. Bond said that administration and the board will continue to keep a close eye on the budget and review expenses monthly.
“Overall it was a clean audit and we are happy with the results, but we will continue to really watch expenses,” concluded Ms. Bond.
As The Expositor previously reported, the board increased the Island municipalities’ contributions to the Manor by 17 percent for 2017. The increase was done to allow for a balanced budget for the Manor in 2017, with the board passing the budget last month.