Canton Has $10 Million Surplus

Fiscal year 2014 was a very good year for Canton.

According to the annual audit, the town had a $10 million surplus, placing Canton in the top 10 percent of all towns in Massachusetts. The findings were presented to the public for the first time at the selectmen’s meeting last Tuesday.

The audit was performed by Roselli, Clark & Associates, a public accounting firm.

Th report also says Canton proved it could pay off its debts, as it earned the highest bond rating, AAA. That rating is used by investors to see which towns would make good candidates for loans.

Major findings of the audit show that there were no significant deficiencies in any department.

Town officials say the upward trend in surplus balance will likely continue. They believe that for the 2015 fiscal year, Canton has an estimate of $12.7 million in surplus balance.

Even though the fiscal year ends in June, the financial part of the audit won’t be completed until December.

Whatever the case may be at that time, it looks like Canton is will be in the black.

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