As of Jan. 1, the municipality’s total reserves stood at almost $2.9-million.
That figure represents a decrease of about $1-million from the reserves balance of a year ago, and Finance Director Mike Givens said the draft budget for 2010 “calls for a net reserve deduction of approximately $568,000.”
But town officials are still pleased with the balance.
“We’re in a fairly enviable position compared to some,” Mayor John Green said.
He noted some municipalities have huge amounts of debt and “for all intents and purposes” Mapleton has none, though some does show up in annual audits.
For example, the township secured a $1-million debenture for the construction of the medical centre in Drayton.
But, township officials say, the building is “self-sustaining” and will be paid for over time through rent paid by occupants of the building.
