Town of Olds council accepted the audit findings and approved the 2025 consolidated financial statements during last week’s meeting.
According to Mayor Dan Daley, the Town received a clean audit in compliance with the Municipal Government Act.
He points out that the Town’s debt level has come down. Mayor Daley says “we’ve lowered that down a bit. We are sitting at about just over a 50 per cent debt service level right now. When, you know, 4 or 5 years ago we were sitting close to 85, 90 per cent and so we’ve come down considerably on that.”
Mayor Daley also points out that the Town of Olds had a surplus for the 2025 year of about $1.2 million dollars that will go into reserves for future projects and infrastructure going forward.
