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Tax revenue dip, accounting error deals Dryden $4M deficit

Dryden's budget deficit has doubled. The town’s mayor and city manager held a news conference Wednesday to announce the city is facing a $4 million deficit as it goes into its 2014 budget planning.
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Dryden's budget deficit has doubled.

The town’s mayor and city manager held a news conference Wednesday to announce the city is facing a $4 million deficit as it goes into its 2014 budget planning.

That's an increase of $2 million since November. 

City officials attribute the increase to a newly-discovered $1 million accounting error made in 2011. 

There has also been a $1 million drop in tax revenues, due to the reassessment of Domtar's Dryden Mill.

 

(Thunder Bay Television)



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