Questions · 15 so far
We read Casselman's financial reports and meeting minutes, and compared its numbers with 29 similar Ontario towns. These are the things that stood out.
These are unusual enough that residents deserve a clear answer from council.
+89%running the town office, 2019 to 2025
Casselman spent $905K on running the town office in 2019 and $1.7M in 2025. Prices only went up about 21% in that time. Only 1 of 29 similar towns had faster growth here.
Found automatically from the town's financial reports · 3 sources
+113%roads and snow, 2019 to 2025
Casselman spent $621K on roads and snow in 2019 and $1.3M in 2025. Prices only went up about 21% in that time. Only 0 of 29 similar towns had faster growth here.
Found automatically from the town's financial reports · 3 sources
$8,969per home on long-term debt, 2025
Casselman spent about $8,969 per home on long-term debt in 2025. The typical similar town spent $855. None of the 29 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.
$1,972,277in the 2026 budget for the 1 Industriel project, after $1,050,000 in the 2025 budget
The 2025 budget set aside $1,050,000 to modernize the building at 1 Industriel as a town hall. The 2026 budget adds $1,972,277 for the same project and lists a bank loan of $5,696,099 under a by-law passed in 2025. The budgets do not print one total for the project.
Found by reading the town's own documents · 4 sources
$11,447,399of borrowing room, all covered by by-laws for Pumping Station 1 and the new town hall
The town's debt was $17,906,216 at the end of 2024. Council has passed by-laws that use up all of the $11,447,399 the province says it could still borrow. The 2024 statements also show about $5.96 million of principal falling due in 2026 and 2027.
Found by reading the town's own documents · 4 sources
$3,650,000of a $5,000,000 pumping station is shown as a grant in the 2026 budget
The 2025 budget put Pumping Station 1 at $4,000,000, paid mostly by debt. The 2026 budget puts it at $5,000,000 and pays $3,650,000 of it with a grant. The budget pages we read do not say which grant it is or whether it has been approved.
Found by reading the town's own documents · 3 sources
$6,309,000a year: the funding gap in the town's own Asset Management Plan
The town's Asset Management Plan says it needs about $8,076,000 a year to keep its roads, water, sewers and buildings in their current condition, and puts in about $1,767,000. Council adopted the plan in February 2026. The 2026 budget raises the tax rate 5.853%.
Found by reading the town's own documents · 4 sources
$1,196,307drop in reserves and reserve funds during 2024
Reserves and reserve funds are money set aside for future needs. They fell from $4,376,518 to $3,180,211 in 2024. The waterworks reserve fund ended 2024 at negative $153,199, and the town's forecast shows it still negative at the end of 2025.
Found by reading the town's own documents · 4 sources
$2,706,482spent on planning and development in 2023, against a budget of $638,602
In the 2023 statements, planning and development spending was more than four times its budget, and the town ended the year with a deficit of $814,537. The next year the same line was $708,058. The town's 2026 budget says planning costs are often passed on to developers, but it does not speak to 2023.
Found by reading the town's own documents · 5 sources
$300non-refundable, to file a complaint about a council member
The town's page on the Integrity Commissioner tells residents to send a $300 non-refundable cheque with a complaint about a council member's conduct. The page does not say why, and we did not find any Integrity Commissioner reports posted.
Found by reading the town's own documents · 2 sources
+54%police, fire and safety, 2019 to 2025
Casselman spent $1.1M on police, fire and safety in 2019 and $1.7M in 2025. Prices only went up about 21% in that time.
Found automatically from the town's financial reports · 2 sources
+91%water, sewers and garbage, 2019 to 2025
Casselman spent $1.4M on water, sewers and garbage in 2019 and $2.6M in 2025. Prices only went up about 21% in that time.
Found automatically from the town's financial reports · 2 sources
$3.7Min savings at the end of 2025
Towns keep savings (called reserves) to pay for new trucks, roof repairs and surprises. Casselman had $3.7M saved at the end of 2025, up from $3.4M in 2019. That is 40% of one year's spending. Only 4 of 29 similar towns had less, compared with what they spend.
Found automatically from the town's financial reports · 2 sources
$130per home on council, 2025
Casselman spent about $130 per home on council in 2025. The typical similar town spent $77. Only 4 of 29 similar towns spent more.
Found automatically from the town's financial reports · 1 source
Background that helps make sense of the rest.
$2,140,449depreciation in 2024, against $1,789,246 in the budget
The 2025 and 2026 budget summaries both print depreciation (the yearly cost of assets wearing out) as $1,789,246. The 2024 audited statements show the real 2024 cost was $2,140,449. The budget is built on a cash basis, so this is not a cash gap, but the printed figure does not follow the town's growing asset list.
Found by reading the town's own documents · 3 sources
+89%running the town office, 2019 to 2025
Casselman spent $905K on running the town office in 2019 and $1.7M in 2025. Prices only went up about 21% in that time. Only 1 of 29 similar towns had faster growth here.
| Year | Running the town office | Prices (inflation) |
|---|---|---|
| 2019 | +0% | +0% |
| 2020 | +4% | +1% |
| 2021 | +24% | +4% |
| 2022 | +61% | +11% |
| 2023 | +57% | +16% |
| 2024 | +61% | +18% |
| 2025 | +89% | +21% |
Change since the first year shown. The grey line is how much prices rose overall, for comparison.
Money spent running the office is money not spent on roads, water or safety. When office costs grow much faster than the services people see, it is fair to ask what the extra money is buying.
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 Casselman? Send us your answer and we will publish it with this question.
Running the town office: 2019 $905K, 2020 $943K, 2021 $1.1M, 2022 $1.5M, 2023 $1.4M, 2024 $1.5M, 2025 $1.7M.
Ontario Financial Information Return (FIR), 2019 to 2025 · Schedule 40 · archived copy
Biggest driver: Office and administration, from $417K to $947K.
Ontario Financial Information Return (FIR), 2019 to 2025 · Schedule 40 · archived copy
Typical growth among similar towns: 35%. Casselman ranks 2nd of 30.
Ontario Financial Information Return (FIR), 2025, 29 similar municipalities · Schedule 40 · archived copy
+113%roads and snow, 2019 to 2025
Casselman spent $621K on roads and snow in 2019 and $1.3M in 2025. Prices only went up about 21% in that time. Only 0 of 29 similar towns had faster growth here.
| Year | Roads and snow | Prices (inflation) |
|---|---|---|
| 2019 | +0% | +0% |
| 2020 | −9% | +1% |
| 2021 | +38% | +4% |
| 2022 | +94% | +11% |
| 2023 | +81% | +16% |
| 2024 | +79% | +18% |
| 2025 | +113% | +21% |
Change since the first year shown. The grey line is how much prices rose overall, for comparison.
When one area grows much faster than prices, it is either doing more (which may be great) or paying more for the same thing. Residents deserve to know which.
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 Casselman? Send us your answer and we will publish it with this question.
Roads and snow: 2019 $621K, 2020 $566K, 2021 $857K, 2022 $1.2M, 2023 $1.1M, 2024 $1.1M, 2025 $1.3M.
Ontario Financial Information Return (FIR), 2019 to 2025 · Schedule 40 · archived copy
Biggest driver: Paved roads, from $285K to $1.1M.
Ontario Financial Information Return (FIR), 2019 to 2025 · Schedule 40 · archived copy
Typical growth among similar towns: 44%. Casselman ranks 1st of 30.
Ontario Financial Information Return (FIR), 2025, 29 similar municipalities · Schedule 40 · archived copy
$8,969per home on long-term debt, 2025
Casselman spent about $8,969 per home on long-term debt in 2025. The typical similar town spent $855. None of the 29 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 Casselman? Send us your answer and we will publish it with this question.
Long-term debt per home: Casselman $8,969; typical similar town $855; ranked 1st highest of 30.
Ontario Financial Information Return (FIR), 2025, 29 similar municipalities · Schedule 40 and Schedule 2 · archived copy
$1,972,277in the 2026 budget for the 1 Industriel project, after $1,050,000 in the 2025 budget
The 2025 budget set aside $1,050,000 to modernize the building at 1 Industriel as a town hall. The 2026 budget adds $1,972,277 for the same project and lists a bank loan of $5,696,099 under a by-law passed in 2025. The budgets do not print one total for the project.
A town hall is a big purchase for a town of this size. Residents pay it back through taxes and fees for years, so they should be able to see one total and one plan.
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 Casselman? Send us your answer and we will publish it with this question.
The 2025 budget's capital list includes "1 Industriel - Town Hall Modernization" at 1,050,000.
Budget 2025 · PDF page 8, capital budget, Rental Services line 2025-RL-012
The 2025 budget's debt list shows a loan for "1 Industriel" from Infrastructure Ontario under by-law 2022-025: initial loan 2,200,000, new loan in 2025 of 1,050,000, expected balance 3,300,000.
Budget 2025 · PDF page 12, Long-Term Debt table
The 2026 budget lists capital spending of 1,972,277 for "1 Industriel" under General Management. It adds that the project "includes certain non-capitalizable expenses, which explains why the loan covers $30,000 more than the capitalized amount."
Budget 2026 · PDF page 7 (capital budget) and page 56 (General Management)
The 2026 debt list shows "1 Industriel" with National Bank under by-law 2025-022: initial loan 5,696,099, new loan in 2026 of 2,002,277, expected balance 3,116,433. The 2022-025 Infrastructure Ontario loan is not in this list.
Budget 2026 · PDF page 10, Long-Term Debt table, Rental Services
$11,447,399of borrowing room, all covered by by-laws for Pumping Station 1 and the new town hall
The town's debt was $17,906,216 at the end of 2024. Council has passed by-laws that use up all of the $11,447,399 the province says it could still borrow. The 2024 statements also show about $5.96 million of principal falling due in 2026 and 2027.
Debt payments come out of taxes and water and sewer fees. When a town borrows to its limit, it has less room if costs rise or grants do not come.
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 Casselman? Send us your answer and we will publish it with this question.
The 2026 budget says that at the 2024 statement date the town had $17,906,216 in long-term debt, which the Ministry said was 18.17% of revenue, allowing it to borrow a total of $11,447,399. It says by-laws 2025-22 and 2025-23 authorize lines of credit totalling $11,447,399 for Pumping Station No. 1 and the new City Hall at 1 Industriel.
Budget 2026 · PDF page 9, Long-Term Debt
The 2025 budget says that at the 2023 statement date the town had $18,949,730 in long-term debt, which the Ministry said was 18.17% of revenue, allowing it to borrow a total of $9,137,911. The percentage is the same as in the 2026 budget although the debt is different.
Budget 2025 · PDF page 11, Long-Term Debt
Note 7 of the 2024 statements lists principal payments due: 2025, 1,069,945; 2026, 2,647,169; 2027, 3,309,935; 2028, 951,732. It says the payments needed are "within the annual debt repayment limits prescribed by the Ministry of Municipal Affairs."
Consolidated Financial Statements, December 31, 2024 · Note 7, Debts, PDF page 15
The 2026 debt list shows new loans of 2,920,277 in 2026, interest of 793,688, principal of 1,211,089 and an expected balance of 17,575,376. The loan for "Main Pumping Station Upgrade (PS1)" with National Bank is for 5,751,300; the town hall loan is 5,696,099. Added together (worked out by us) these are 11,447,399.
Budget 2026 · PDF pages 10 and 11, Long-Term Debt tables
$3,650,000of a $5,000,000 pumping station is shown as a grant in the 2026 budget
The 2025 budget put Pumping Station 1 at $4,000,000, paid mostly by debt. The 2026 budget puts it at $5,000,000 and pays $3,650,000 of it with a grant. The budget pages we read do not say which grant it is or whether it has been approved.
A sewer pumping station is needed whatever happens to the grant. If the grant does not arrive, the cost falls back on borrowing or on sewer fees.
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 Casselman? Send us your answer and we will publish it with this question.
The 2025 budget lists "Main Pumping Station Upgrade (PS1)" at 4,000,000, with 3,654,400 from debt and 345,600 from development charges.
Budget 2025 · PDF page 9, capital budget, Sewer 2025-EN-001
The 2026 budget lists "Pumping Station 1" at 5,000,000, with 3,650,000 from grants, 918,000 from debt and 432,000 from development charges.
Budget 2026 · PDF page 7, capital budget, Sewer 2026-EN-001
The Sewer page shows capital expenses of 4,092,500 in the 2025 budget against a 2025 forecast of 423,354, and a capital grant line of (3,650,000) for 2026. The text on that page does not say where the grant comes from.
Budget 2026 · PDF pages 48 and 49, Sewer
$6,309,000a year: the funding gap in the town's own Asset Management Plan
The town's Asset Management Plan says it needs about $8,076,000 a year to keep its roads, water, sewers and buildings in their current condition, and puts in about $1,767,000. Council adopted the plan in February 2026. The 2026 budget raises the tax rate 5.853%.
Roads and pipes wear out whether or not the budget sets money aside. A gap this size means either higher taxes and fees, more borrowing, or worse roads and water over time.
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 Casselman? Send us your answer and we will publish it with this question.
The Asset Management Plan's key statistics list a "$6.3m Annual Capital Infrastructure Deficit", a target investment rate of 2.1% and an actual investment rate of 0.54%.
Asset Management Plan 2025 · PDF page 3, Key Statistics
"Based on a historical analysis of sustainable capital funding sources, the Municipality is committing approximately $1,767,000 towards capital projects per year." The yearly requirement is $8,076,000, so "the current funding gap is $6,309,000 annually."
Asset Management Plan 2025 · section 6.1.2, PDF page 55
The plan says council adopted the "maintain condition" option on February 10 (resolution 2026-38), and that "total tax revenues must increase by 3.1 % annually for 20 years", with water rates up 3.5% a year for 20 years and wastewater rates up 1.3% a year for 10 years.
Asset Management Plan 2025 · section 1.3, PDF page 7
The 2026 budget says it "includes a 5.853 % increase in the tax rate for the year 2026, bringing the estimated tax rate to 0.00772176."
Budget 2026 · PDF page 70, Property taxes
$1,196,307drop in reserves and reserve funds during 2024
Reserves and reserve funds are money set aside for future needs. They fell from $4,376,518 to $3,180,211 in 2024. The waterworks reserve fund ended 2024 at negative $153,199, and the town's forecast shows it still negative at the end of 2025.
Savings are what a town uses when a repair or a late grant arrives. A fund below zero means the water system has spent more than it set aside, so other money is covering it.
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 Casselman? Send us your answer and we will publish it with this question.
Schedule 3 shows reserves and reserve funds, beginning of year 4,376,518 and end of year 3,180,211, a change of (1,196,307). Net transfers from operating are (1,269,049).
Consolidated Financial Statements, December 31, 2024 · Schedule 3, PDF page 20
Schedule 2 shows the Waterworks reserve fund at (153,199) in 2024 and 186,007 in 2023. The Fire department reserve fell from 780,525 to 395,811, and the Roads reserve from 271,025 to 116,672.
Consolidated Financial Statements, December 31, 2024 · Schedule 2, PDF page 19
Note 14 says "the Municipality does not budget activity within reserves and reserve funds, with the exception being those transactions, which affect either operations or tangible capital assets."
Consolidated Financial Statements, December 31, 2024 · Note 14, Budget amounts, PDF page 17
The 2026 budget's reserve table shows Waterworks at (153,199) on December 31, 2024, (180,456) at December 31, 2025 (forecast), a 2026 transfer to the fund of 314,960, and 134,504 at December 31, 2026.
Budget 2026 · PDF page 12, Reserve
$2,706,482spent on planning and development in 2023, against a budget of $638,602
In the 2023 statements, planning and development spending was more than four times its budget, and the town ended the year with a deficit of $814,537. The next year the same line was $708,058. The town's 2026 budget says planning costs are often passed on to developers, but it does not speak to 2023.
A single line that is far over budget is worth a plain explanation, especially in a year when the town ran a deficit.
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 Casselman? Send us your answer and we will publish it with this question.
The 2023 statement of operations shows Planning and development at 638,602 in the budget column and 2,706,482 actual (767,738 in 2022). Total expenses were 9,233,407 budgeted and 12,537,998 actual.
Consolidated Financial Statements, December 31, 2023 · Statement of operations, PDF page 5
Schedule 4 shows contracted services at 3,537,671 budgeted and 6,227,918 actual in 2023.
Consolidated Financial Statements, December 31, 2023 · Schedule 4, PDF page 21
The 2024 statements show Planning and development at 649,440 budgeted and 708,058 actual for 2024.
Consolidated Financial Statements, December 31, 2024 · Statement of operations, PDF page 5
The 2026 budget says: "The Planning Department is based on user fees. Some requests require professional services (engineering, lawyers, external planners) and the costs of these are then invoiced to the client, which creates significant variations in the finance of the service."
Budget 2026 · PDF page 38, Planning
Consolidated statement of operations: "Annual (deficit) surplus 2,355,029 (814,537) 3,755,633" (2023 budget, 2023 actual, 2022 actual).
Consolidated Financial Statements, December 31, 2023 · Statement of operations, PDF page 5
$300non-refundable, to file a complaint about a council member
The town's page on the Integrity Commissioner tells residents to send a $300 non-refundable cheque with a complaint about a council member's conduct. The page does not say why, and we did not find any Integrity Commissioner reports posted.
The Integrity Commissioner is how a resident asks whether a member broke the code of conduct. A fee at the front door could keep people from using it, and without posted reports residents cannot see how it works.
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 Casselman? Send us your answer and we will publish it with this question.
The page says to "Enclose a $300 non-refundable cheque with your complaint" and send it to the Town Clerk's Office.
Transparency, Ethics and Integrity (Municipality of Casselman web page) · Integrity Commissioner section, How do I file a complaint?
The 2026 budget says for Council and Committees that "The increase in contractual services corresponds to the amounts budgeted for handling complaints by the Integrity Commissioner." The line shows 9,500 for 2026.
Budget 2026 · PDF pages 54 and 55, Council and Committees
+54%police, fire and safety, 2019 to 2025
Casselman spent $1.1M on police, fire and safety in 2019 and $1.7M in 2025. Prices only went up about 21% in that time.
| Year | Police, fire and safety | Prices (inflation) |
|---|---|---|
| 2019 | +0% | +0% |
| 2020 | −2% | +1% |
| 2021 | +0% | +4% |
| 2022 | +26% | +11% |
| 2023 | +30% | +16% |
| 2024 | +45% | +18% |
| 2025 | +54% | +21% |
Change since the first year shown. The grey line is how much prices rose overall, for comparison.
When one area grows much faster than prices, it is either doing more (which may be great) or paying more for the same thing. Residents deserve to know which.
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 Casselman? Send us your answer and we will publish it with this question.
Police, fire and safety: 2019 $1.1M, 2020 $1.1M, 2021 $1.1M, 2022 $1.4M, 2023 $1.4M, 2024 $1.6M, 2025 $1.7M.
Ontario Financial Information Return (FIR), 2019 to 2025 · Schedule 40 · archived copy
Biggest driver: Fire department, from $202K to $544K.
Ontario Financial Information Return (FIR), 2019 to 2025 · Schedule 40 · archived copy
+91%water, sewers and garbage, 2019 to 2025
Casselman spent $1.4M on water, sewers and garbage in 2019 and $2.6M in 2025. Prices only went up about 21% in that time.
| Year | Water, sewers and garbage | Prices (inflation) |
|---|---|---|
| 2019 | +0% | +0% |
| 2020 | +57% | +1% |
| 2021 | +28% | +4% |
| 2022 | +50% | +11% |
| 2023 | +73% | +16% |
| 2024 | +46% | +18% |
| 2025 | +91% | +21% |
Change since the first year shown. The grey line is how much prices rose overall, for comparison.
When one area grows much faster than prices, it is either doing more (which may be great) or paying more for the same thing. Residents deserve to know which.
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 Casselman? Send us your answer and we will publish it with this question.
Water, sewers and garbage: 2019 $1.4M, 2020 $2.1M, 2021 $1.7M, 2022 $2.0M, 2023 $2.3M, 2024 $2.0M, 2025 $2.6M.
Ontario Financial Information Return (FIR), 2019 to 2025 · Schedule 40 · archived copy
Biggest driver: Water treatment, from $372K to $823K.
Ontario Financial Information Return (FIR), 2019 to 2025 · Schedule 40 · archived copy
$3.7Min savings at the end of 2025
Towns keep savings (called reserves) to pay for new trucks, roof repairs and surprises. Casselman had $3.7M saved at the end of 2025, up from $3.4M in 2019. That is 40% of one year's spending. Only 4 of 29 similar towns had less, compared with what they spend.
| Year | Savings (reserves) |
|---|---|
| 2019 | $3.4M |
| 2020 | $3.5M |
| 2021 | $5.4M |
| 2022 | $4.4M |
| 2023 | $4.4M |
| 2024 | $3.2M |
| 2025 | $3.7M |
With little saved, a broken bridge or a storm has to be paid for with a sudden tax increase or a loan. Low savings can also mean past budgets were balanced by spending savings instead of facing the real cost.
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 Casselman? Send us your answer and we will publish it with this question.
Savings (reserves and reserve funds): 2019 $3.4M, 2020 $3.5M, 2021 $5.4M, 2022 $4.4M, 2023 $4.4M, 2024 $3.2M, 2025 $3.7M.
Ontario Financial Information Return (FIR), 2019 to 2025 · Schedule 70, line 6420 · archived copy
Typical among similar towns: savings equal to 78% of a year's spending. Casselman: 40%.
Ontario Financial Information Return (FIR), 2025, 29 similar municipalities · Schedules 40 and 70 · archived copy
$130per home on council, 2025
Casselman spent about $130 per home on council in 2025. The typical similar town spent $77. Only 4 of 29 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 Casselman? Send us your answer and we will publish it with this question.
Council per home: Casselman $130; typical similar town $77; ranked 5th highest of 30.
Ontario Financial Information Return (FIR), 2025, 29 similar municipalities · Schedule 40 and Schedule 2 · archived copy
$2,140,449depreciation in 2024, against $1,789,246 in the budget
The 2025 and 2026 budget summaries both print depreciation (the yearly cost of assets wearing out) as $1,789,246. The 2024 audited statements show the real 2024 cost was $2,140,449. The budget is built on a cash basis, so this is not a cash gap, but the printed figure does not follow the town's growing asset list.
Budget-to-actual comparisons can look like overspending when part of the gap is only depreciation. We do not call the 2024 gap overspending: the gap in total expenses (worked out by us, 452,058) is mostly this line (worked out by us, 351,203).
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 Casselman? Send us your answer and we will publish it with this question.
The 2025 budget summary prints "Depreciation" as 1,789,246 for the 2024 budget, the 2024 forecast and the 2025 budget.
Budget 2025 · PDF page 5, Budget Summary
The 2026 budget summary prints "Depreciation" as 1,789,246 for the 2025 budget, the 2025 forecast and the 2026 budget. It says "The budget is prepared using the cash basis of accounting."
Budget 2026 · PDF page 5 (Budget Summary) and page 3 (Budget Process)
The 2024 statement of change in net debt shows amortization of tangible capital assets at 1,789,246 budgeted and 2,140,449 actual for 2024 (1,937,567 in 2023).
Consolidated Financial Statements, December 31, 2024 · Statement of change in net debt, PDF page 7