Questions · 10 so far
We read Brockton's financial reports and meeting minutes, and compared its numbers with 94 similar Ontario towns. These are the things that stood out.
These are unusual enough that residents deserve a clear answer from council.
$4,404per home on long-term debt, 2024
Brockton spent about $4,404 per home on long-term debt in 2024. The typical similar town spent $1,131. Only 2 of 94 similar towns spent more.
Found automatically from the town's financial reports · 1 source
There may well be a good reason. It is still worth asking what it is.
February 10, 2026date of the auditor's report on the 2024 statements (the 2023 report is dated November 12, 2024)
Each year a municipality hires an outside accountant (the auditor) to check its books and sign a report saying whether the numbers are fair. The auditor's report on the 2023 statements is dated November 12, 2024. The report on the 2024 statements is dated February 10, 2026, which is later in the following year. The opinion on 2024 is a clean one: the auditor says the statements "present fairly" the Municipality's position. We did not find 2025 statements on the pages we read.
Found by reading the town's own documents · 2 sources
$13,325,978net financial liabilities at December 31, 2024, up from $12,322,701
"Net financial liabilities" (also called net debt) is what the Municipality owes minus the money and investments it could use to pay. At the end of 2024 it was $13,325,978. A year earlier it was $12,322,701. That is $1,003,277 more, worked out by us. The Municipality also owns roads, buildings and equipment that the statements value at much more than that debt, so this is not a place with nothing behind what it owes.
Found by reading the town's own documents · 2 sources
($254,715)actual 2024 net revenues/(expenses), against a budgeted $2,305,064
The statement of operations shows a line called "Net revenues/(expenses)" before one-time money such as capital grants. The 2024 budget planned $2,305,064 on that line. The actual result was a shortfall of $254,715. The overall annual surplus was still $2,189,850, but the budget had planned for $3,341,064. The statements say the budget shown is the operating budget approved by Council. The gap on the everyday line is $2,559,779, worked out by us.
Found by reading the town's own documents · 2 sources
$720,720unfunded Greenock landfill liability at December 31, 2024, up from $590,674
When a landfill (a dump) closes, the owner must cap it and watch it for years. A newer accounting standard makes municipalities record that future cost today as a liability. Brockton records $639,574 for the Brant landfill (2023: $626,289) and $720,720 for the Greenock landfill (2023: $590,674), plus $2,555,079 for its half of the Hanover/Walkerton landfill (2023: $2,481,688). The Greenock figure went up by $130,046, about 22%, worked out by us. The statements call all three "unfunded", meaning money has not been set aside for them.
Found by reading the town's own documents · 1 source
$693,732interest on loans payable in 2024, against $505,182 in 2023
Interest is the fee a lender charges for the use of its money. The 2024 statements say interest on loans payable was $693,732, against $505,182 in 2023. That is $188,550 more, about 37%, worked out by us. The Municipality has a bank line of credit of up to $1,500,000, with a balance of nil at the end of 2024 and 2023. The table of loans and repayments is laid out in a way we could not match reliably, so we have not used any figure from it.
Found by reading the town's own documents · 2 sources
$848,433yearly fee to Veolia for water and wastewater operations, plus a further $40,000 from July 1, 2026
The Municipality pays a private company, Veolia Water Canada Inc., to run and maintain its water and wastewater plants. The statements say the fee is $848,433 plus an adjustment for inflation from July 1, 2026, and that from that date the price "will increase $40,000" on top of the inflation adjustment. The agreement ends June 30, 2031. The statements also list capital commitments of $3,130,327 that have funding in place.
Found by reading the town's own documents · 2 sources
Background that helps make sense of the rest.
$2,000,000principal protected notes, maturing from July 2027 to July 2028
Principal protected notes (PPNs) are bank-issued investments that promise the original money back if held to the end of their term, while the return depends on a market measure. Brockton's statements say it holds CIBC notes maturing from July 2027 to July 2028, and that management intends to keep each to maturity, which "would result in the recovery of all principal ($2,000,000)". The statements put the market value of its bonds and notes together at $4,399,184, and show an accumulated remeasurement gain of $496,288.
Found by reading the town's own documents · 2 sources
−$13.3Mnet financial position, 2024
In 2019, Brockton had $2.9M more in cash and money owed to it than it owed to others. By 2024 it was −$13.3M. About 26% of that change ($4.3M) is a new accounting rule from 2023: towns must now record the future cost of closing things like a landfill. That is not new spending or borrowing. Even leaving that out, only 2 of 94 similar towns are in a weaker position.
Found automatically from the town's financial reports · 2 sources
$317per home on garbage, dump and recycling, 2024
Brockton spent about $317 per home on garbage, dump and recycling in 2024. The typical similar town spent $153. Only 11 of 94 similar towns spent more.
Found automatically from the town's financial reports · 1 source
$4,404per home on long-term debt, 2024
Brockton spent about $4,404 per home on long-term debt in 2024. The typical similar town spent $1,131. Only 2 of 94 similar towns spent more.
Spending more than neighbours is not wrong by itself. It might buy better service. But it is the first place to look for costs that could be lower, such as contracts that were not competitively bid.
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Brockton? Send us your answer and we will publish it with this question.
Long-term debt per home: Brockton $4,404; typical similar town $1,131; ranked 3rd highest of 95.
Ontario Financial Information Return (FIR), 2024, 94 similar municipalities · Schedule 40 and Schedule 2 · archived copy
February 10, 2026date of the auditor's report on the 2024 statements (the 2023 report is dated November 12, 2024)
Each year a municipality hires an outside accountant (the auditor) to check its books and sign a report saying whether the numbers are fair. The auditor's report on the 2023 statements is dated November 12, 2024. The report on the 2024 statements is dated February 10, 2026, which is later in the following year. The opinion on 2024 is a clean one: the auditor says the statements "present fairly" the Municipality's position. We did not find 2025 statements on the pages we read.
Council and residents set next year's budget using last year's results. When the audited results arrive more than a year late, the budget is set without them.
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Brockton? Send us your answer and we will publish it with this question.
Independent Auditor's Report on the 2024 statements: opinion that the statements "present fairly, in all material respects" the Municipality's position at December 31, 2024. The report is signed by Baker Tilly SGB LLP, Walkerton, Ontario, and dated "February 10, 2026". The management's responsibility statement carries the same date.
Consolidated Financial Report, December 31, 2024 (Baker Tilly SGB LLP) · Auditor's report, printed pages 2 to 3 (PDF pages 4 to 5); management's statement, printed page 1 (PDF page 3)
The same auditor's report on the 2023 statements is dated "November 12, 2024" and says the statements "present fairly, in all material respects".
Consolidated Financial Statements, December 31, 2023 (Baker Tilly SGB LLP) · Auditor's report, PDF pages 4 to 5
$13,325,978net financial liabilities at December 31, 2024, up from $12,322,701
"Net financial liabilities" (also called net debt) is what the Municipality owes minus the money and investments it could use to pay. At the end of 2024 it was $13,325,978. A year earlier it was $12,322,701. That is $1,003,277 more, worked out by us. The Municipality also owns roads, buildings and equipment that the statements value at much more than that debt, so this is not a place with nothing behind what it owes.
Net debt that keeps growing means future councils will need more tax or more grants to pay for what is built today. Residents can ask how large it is meant to get.
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Brockton? Send us your answer and we will publish it with this question.
Consolidated Statement of Financial Position: "Net financial liabilities (13,325,978) (12,322,701)" for 2024 and 2023.
Consolidated Financial Report, December 31, 2024 (Baker Tilly SGB LLP) · Statement of Financial Position, printed page 4 (PDF page 6)
Consolidated Statement of Operations: "Accumulated surplus, end of year (Note 13) 69,253,731 67,063,881" for 2024 and 2023.
Consolidated Financial Report, December 31, 2024 (Baker Tilly SGB LLP) · Statement of Operations, printed page 5 (PDF page 7)
($254,715)actual 2024 net revenues/(expenses), against a budgeted $2,305,064
The statement of operations shows a line called "Net revenues/(expenses)" before one-time money such as capital grants. The 2024 budget planned $2,305,064 on that line. The actual result was a shortfall of $254,715. The overall annual surplus was still $2,189,850, but the budget had planned for $3,341,064. The statements say the budget shown is the operating budget approved by Council. The gap on the everyday line is $2,559,779, worked out by us.
A budget is the promise about what the year will cost. When the result is this far from the promise on the everyday line, residents can ask which services cost more, or which revenues came in lower, than expected.
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Brockton? Send us your answer and we will publish it with this question.
Consolidated Statement of Operations: "Net revenues/(expenses) 2,305,064 (254,715) 1,454,324" for Budget 2024, Actual 2024 and Actual 2023. "Annual surplus 3,341,064 2,189,850 4,220,213" for the same three columns.
Consolidated Financial Report, December 31, 2024 (Baker Tilly SGB LLP) · Statement of Operations, printed page 5 (PDF page 7)
Note 14, Budget amounts: "The operating budget approved by Council for 2024 is reflected on the consolidated statement of operations." and "The 2024 budget did not include figures for amortization of tangible capital assets."
Consolidated Financial Report, December 31, 2024 (Baker Tilly SGB LLP) · Note 14, printed page 25 (PDF page 27)
$720,720unfunded Greenock landfill liability at December 31, 2024, up from $590,674
When a landfill (a dump) closes, the owner must cap it and watch it for years. A newer accounting standard makes municipalities record that future cost today as a liability. Brockton records $639,574 for the Brant landfill (2023: $626,289) and $720,720 for the Greenock landfill (2023: $590,674), plus $2,555,079 for its half of the Hanover/Walkerton landfill (2023: $2,481,688). The Greenock figure went up by $130,046, about 22%, worked out by us. The statements call all three "unfunded", meaning money has not been set aside for them.
An unfunded liability is a bill that will come due with no savings behind it. A growing estimate means a bigger future bill for taxpayers.
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Brockton? Send us your answer and we will publish it with this question.
Note 11(a) Landfill obligation: "unfunded liability for Brant landfill of $639,574 (2023 - $626,289) and the Greenock landfill of $720,720 (2023 - $590,674)." and "an unfunded liability of $2,555,079 (2023 - $2,481,688), which represents its 50% ownership of the Hanover/Walkerton Landfill site". Also: "The Brant and Greenock landfills had an estimated remaining useful life of 15 and 50 years."
Consolidated Financial Report, December 31, 2024 (Baker Tilly SGB LLP) · Note 11(a), printed page 22 (PDF page 24)
$693,732interest on loans payable in 2024, against $505,182 in 2023
Interest is the fee a lender charges for the use of its money. The 2024 statements say interest on loans payable was $693,732, against $505,182 in 2023. That is $188,550 more, about 37%, worked out by us. The Municipality has a bank line of credit of up to $1,500,000, with a balance of nil at the end of 2024 and 2023. The table of loans and repayments is laid out in a way we could not match reliably, so we have not used any figure from it.
Interest comes out of the same budget as roads, snow clearing and recreation. When it rises, there is less left for services unless taxes go up.
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Brockton? Send us your answer and we will publish it with this question.
Note 7: "Total interest charges on loans payable for the year reported on the consolidated statement of operations are $693,732 (2023 - 505,182)." and "The annual principal and interest payments required to service these loans are within the annual debt repayment limit prescribed by the Ministry of Municipal Affairs."
Consolidated Financial Report, December 31, 2024 (Baker Tilly SGB LLP) · Note 7, printed page 20 (PDF page 22)
Note 8, Short-term borrowing: "An unsecured bank line of credit is available to the Municipality up to an amount of $1,500,000. As at December 31, 2024 the balance was $NIL (2023 - $NIL)."
Consolidated Financial Report, December 31, 2024 (Baker Tilly SGB LLP) · Note 8, printed page 20 (PDF page 22)
$848,433yearly fee to Veolia for water and wastewater operations, plus a further $40,000 from July 1, 2026
The Municipality pays a private company, Veolia Water Canada Inc., to run and maintain its water and wastewater plants. The statements say the fee is $848,433 plus an adjustment for inflation from July 1, 2026, and that from that date the price "will increase $40,000" on top of the inflation adjustment. The agreement ends June 30, 2031. The statements also list capital commitments of $3,130,327 that have funding in place.
Water and sewer costs are usually paid through the rates users pay. A fixed extra $40,000 a year, plus inflation, may show up in those rates.
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Brockton? Send us your answer and we will publish it with this question.
Note 18(b) Commitments: "Veolia has agreed to operate the facility for a fee of $848,433 plus an adjustment for inflation for July 1, 2026 and subsequent years. Effective July 1, 2026, the price will increase $40,000 in addition to the inflation adjustment. The agreement expires June 30, 2031."
Consolidated Financial Report, December 31, 2024 (Baker Tilly SGB LLP) · Note 18(b), printed page 27 (PDF page 29)
Note 18(a): "Capital commitments of $3,130,327 (2023 - $4,153,729) are not reflected in the consolidated financial statements."
Consolidated Financial Report, December 31, 2024 (Baker Tilly SGB LLP) · Note 18(a), printed page 27 (PDF page 29)
$2,000,000principal protected notes, maturing from July 2027 to July 2028
Principal protected notes (PPNs) are bank-issued investments that promise the original money back if held to the end of their term, while the return depends on a market measure. Brockton's statements say it holds CIBC notes maturing from July 2027 to July 2028, and that management intends to keep each to maturity, which "would result in the recovery of all principal ($2,000,000)". The statements put the market value of its bonds and notes together at $4,399,184, and show an accumulated remeasurement gain of $496,288.
Investments are public money. Residents can ask how the Municipality chooses them and what they would be worth if sold before the end of their term.
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Brockton? Send us your answer and we will publish it with this question.
Note 3, Investments: "Management intends to hold each of the PPNs until maturity and this would result in the recovery of all principal ($2,000,000)." and "The market value of the bonds and principal protected notes are $4,399,184 (2023 - $3,846,198)."
Consolidated Financial Report, December 31, 2024 (Baker Tilly SGB LLP) · Note 3, printed page 15 (PDF page 17)
Consolidated Statement of Remeasurement Gains and Losses: "Accumulated remeasurement gains at end of year" 496,288 for 2024.
Consolidated Financial Report, December 31, 2024 (Baker Tilly SGB LLP) · Statement of Remeasurement Gains and Losses, printed page 8 (PDF page 10)
−$13.3Mnet financial position, 2024
In 2019, Brockton had $2.9M more in cash and money owed to it than it owed to others. By 2024 it was −$13.3M. About 26% of that change ($4.3M) is a new accounting rule from 2023: towns must now record the future cost of closing things like a landfill. That is not new spending or borrowing. Even leaving that out, only 2 of 94 similar towns are in a weaker position.
| Year | Net financial position |
|---|---|
| 2019 | $2.9M |
| 2020 | $3.4M |
| 2021 | $2.0M |
| 2022 | −$4.7M |
| 2023 | −$12.3M |
| 2024 | −$13.3M |
This number is one of the clearest signs of whether a town is living within its means. The accounting-rule part is a bill that will come due when the landfill closes, not money already spent. The rest is real borrowing and spending of savings.
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Brockton? Send us your answer and we will publish it with this question.
Net financial assets: 2019 $2.9M, 2020 $3.4M, 2021 $2.0M, 2022 −$4.7M, 2023 −$12.3M, 2024 −$13.3M.
Ontario Financial Information Return (FIR), 2019 to 2024 · Schedule 70, line 9945 · archived copy
Future landfill and similar closing costs recorded: $4.3M. Long-term debt: $19.7M. Temporary loans: $0.
Ontario Financial Information Return (FIR), 2019 to 2024 · Schedule 70, lines 2920, 2699, 2099 · archived copy
$317per home on garbage, dump and recycling, 2024
Brockton spent about $317 per home on garbage, dump and recycling in 2024. The typical similar town spent $153. Only 11 of 94 similar towns spent more.
Spending more than neighbours is not wrong by itself. It might buy better service. But it is the first place to look for costs that could be lower, such as contracts that were not competitively bid.
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Brockton? Send us your answer and we will publish it with this question.
Garbage, dump and recycling per home: Brockton $317; typical similar town $153; ranked 12th highest of 95.
Ontario Financial Information Return (FIR), 2024, 94 similar municipalities · Schedule 40 and Schedule 2 · archived copy