Millions fall through the cracks at the Town of Huntsville
Taxes will eventually go up for Huntsville residents to pay for what staff says is a “missed” $3-million deficit. Deputy Mayor Karin Terziano says the town had some unfinanced capital assets at the time of the G8 Summit, which was back in 2009/2010.
Terziano says the next step is to figure out how the Town is going to put the money back into cash reserves.
Councillors had wondered why this deficit had finally appeared before them after five years. Town staff says reasons may include staffing and account system changes. Town staff has been directed to provide a full report on this issue in May.