$21,379,933surplus in 2025, against a budgeted $7,223,288
A surplus is what is left when a year's revenue is more than its spending. The 2025 budget planned for a surplus of $7,223,288. The audited statements show $21,379,933. The year before, the budget planned a deficit of $5,015,481 and the statements show a surplus of $13,029,678. Two lines explain much of it. Investment income (interest and gains on savings) was budgeted at $3,271,750 for 2025 and came in at $9,268,846. "Donations and contribution from others" was budgeted at $140,698 and came in at $15,621,289. The Municipality has explained the investment side: it says it does not count on large investment gains when it sets the budget.
$129,120,126owed on debentures at the end of 2025, up from $80,164,952
At the end of 2025 the Municipality owed $129,120,126 on debentures (long-term loans, issued for it by the Region of Durham), up from $80,164,952 a year before. In 2025 it raised $52,750,000, including a sinking fund debenture of $47,750,000. A sinking fund is a savings account that is built up to repay a loan at the end. The statements say no contributions had yet been made to it. Over the same year, investments rose to $226,108,263 and interest on the debt rose to $3,705,235 from $1,660,494. The 2026 budget book lists four more instalments of new debt totalling $142,305,000 (the first depot instalment of $47,750,000, issued in 2025, is part of that total).
$12,055,473estimated yearly payments on new debt, all planned to come from development charges
Development charges are fees the Municipality collects when new homes and buildings go up, to pay for the roads, parks and buildings that growth needs. The 2026 budget book says all the estimated $12,055,473 a year in payments on the new depot, training facility and aquatic centre debt will come from development charges, and none from the tax levy. In 2025 the Municipality collected $6,911,605 in development charges (against $4,975,087 in 2024). The development charge reserve fund held $67,010,618 at the end of 2025. The budget book says that in 2025 development charge revenue dropped sharply because fewer homes were started, and that staff are watching it.
$116,189,100held in principal protected notes at the end of 2025, up from $86,117,800
The Municipality's investments are $226,108,263. The note that lists them shows $116,189,100 in principal protected notes, up from $86,117,800, which is more than half of the $197,194,516 subtotal before the fair value adjustment. A principal protected note is a bank-issued investment that promises to return the money invested if it is held to the end of its term, with any extra return depending on how a market or index does. A new line, "Prudent Investments", holds $21,984,358. On top of the subtotal the statements add a fair value adjustment of $28,913,747, up from $12,164,793. The statements say the Municipality intends to hold the investments until they mature, and that they follow its investment policy.