Brock Township has more than $21.4 million in reserves, reserve funds and trust accounts

Brock Township has more than $21.4 million socked away.

That figure is included in a report from Treasurer Laura Barta that will be on the agenda for Monday’s (April 8) meeting of the finance committee and includes reserves, reserve funds and trust funds at the end of 2018.

The report charts a $7-million increase to those accounts over the last term of council. The total started at $14.1 million in 2014 before increasing to $15.4 million in 2015, $17 million in 2016 and $19.1 million in 2017.

It also notes that the municipality earned more than $340,000 through interest on reserve fund and trust fund account last year alone.

“With the exception of the Brock Hydro Sale Reserve Fund and the Cemetery Trust Funds, all interest earned remains in the respective Reserve Fund or Trust fund account,” the report reads.

“This interest is accumulated along with the principal and will be available to offset the cost of future expenditures through the annual budget process.”

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