Waterloo took on more debt than paid off in 2013
Posted May 13, 2014 05:41:37 AM.
This article is more than 5 years old.
The City of Waterloo took on slightly more debt than it paid off last year.
Councillors got an update at a committee meeting on Monday. The city paid off close to $6.7 million, but they took on $7.3 million.
Waterloo’s Director of Accounting and Revenue tells the Record the city’s goal is not to issue any new debt that has to be paid by taxpayers.
The 2013 debt will be funded by development charges.
The city’s current debt per capita rate is also down over $200 compared to ten years ago.
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