Your town, in plain words
A clear, checkable guide to Cobalt's budget, taxes and council decisions. A small historic mining town in the Timiskaming District of northeastern Ontario, with a mayor and five councillors. Every figure links back to the public record.
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Each one is a question, not an accusation. Every one lists ordinary reasons it could be true, and the documents it comes from.
+133%town property tax, 2024 to 2025
In 2025, Cobalt collected $1.1M more in its own property tax than in 2024. That is a 133% jump, while prices went up about 2.1%. None of the 31 similar towns raised theirs by more.
Found automatically from the town's financial reports · 3 sources
$18,075in savings at the end of 2025
Towns keep savings (called reserves) to pay for new trucks, roof repairs and surprises. Cobalt had $18,075 saved at the end of 2025, down from $259K in 2019. That is 1% of one year's spending. None of the 31 similar towns had less, compared with what they spend.
Found automatically from the town's financial reports · 2 sources
$309Kowed in unpaid property tax, end of 2025
At the end of 2025, $309K of property tax had been billed but not paid. That is 16% of everything billed. Only 7 of 31 similar towns had a higher share. A year earlier it was $299K.
Found automatically from the town's financial reports · 2 sources
$595,737annual deficit in 2025, against a budgeted $327,197
The audited statements show an annual deficit (spending above income) of $595,737 for 2025, against a budget deficit of $327,197 and a 2024 deficit of $655,576. The gap to budget, $268,540 (worked out by us), is $170,894 of extra spending and $97,646 of missing income. Most of the extra spending is in three areas: environmental services (water, sewer and garbage) $1,380,502 against $1,282,013 budgeted, general government $776,986 against $711,350, and recreation and culture $247,268 against $210,350. The Town's own note explains that these statements count amortization (the yearly wearing-out of buildings, roads and equipment, $666,088) which is not cash. On the Town's own budget basis, the 2025 deficit was $90,090 against a budgeted $5,000, and $40,883 the year before. The accumulated surplus (everything the Town has built up over the years, mostly buildings, roads and pipes) fell from $14,373,961 at the start of 2024 to $13,122,648, which is $1,251,313 less (worked out by us).
Found by reading the town's own documents · 4 sources
$79,218capital assets added in 2025, against $317,243 budgeted in the statements and $360,443 in the capital budget
Capital spending is money spent on buildings, roads, pipes and equipment that last for years. The 2025 capital budget lists seven projects totalling $360,443, including $125,000 for a wetland sewer project under a Director's Order, $98,433 for water treatment plant upgrades and $73,010 for a road. The audited statements show only $79,218 of tangible capital assets added in 2025, of which $10,300 was donated land and $68,918 heavy equipment (worked out by us from the schedule). At the end of 2025 the Town held $391,968 of Ontario Community Infrastructure Fund (OCIF) money it had been given but not yet used, up from $194,683. The Town's cash rose by $229,581 in 2025 even though it ran a deficit.
Found by reading the town's own documents · 5 sources
$99,126all reserves, surpluses and deficits together at the end of 2025, down from $197,504
The Town's note on its accumulated surplus lists its reserves, surpluses and deficits together at $99,126 at the end of 2025, down from $197,504. The only named reserve is a library reserve of $18,075. The general municipal fund is $440,712 in deficit, up from $394,438, and waterworks is $88,048 in deficit. The Town also carries an asset retirement obligation of $664,082 (money it expects to spend someday on removing asbestos, $658,081, and a fuel tank, $6,001). The note lists it as "unfinanced", which means no money has been set aside for it. The Town holds $607,260 in cash, but $517,809 of the money it holds is deferred revenue: grant money it was given for projects (worked out by us from $437,377 and $80,432). It has a $250,000 bank line of credit with nothing borrowed.
Found by reading the town's own documents · 3 sources
$88,184waterworks deficit in 2025, up from $50,682
The Town's waterworks schedule shows total revenue of $602,422 and spending of $690,606, a deficit of $88,184, after a deficit of $50,682 in 2024. Revenue includes $111,418 of federal operating grants, the same amount as the Canada Community Building Fund money the Town used in 2025, so without it the deficit would have been $199,602 (worked out by us). Contracted services rose to $335,647 from $199,890, up $135,757 (worked out by us). The waterworks account went from a surplus of $136 to a deficit of $88,048. Water and sewer user fees came in at $611,476 against $609,312 budgeted, so the gap is not a shortfall in fees.
Found by reading the town's own documents · 3 sources
+81%water, sewers and garbage, 2019 to 2025
Cobalt spent $576K on water, sewers and garbage in 2019 and $1.0M in 2025. Prices only went up about 21% in that time.
Found automatically from the town's financial reports · 2 sources
$53,487interest paid on long-term debt in 2025, up from $25,069
The Town owed $1,462,300 on five loans at the end of 2025, down from $1,562,160. Interest paid on the debt was $53,487, up from $25,069 (more than double, worked out by us). The Town took on $713,201 of new debt in 2024. Its three Infrastructure Ontario loans carry rates of 1.43%, 2.47% and 4.41%. One vehicle loan with Ford Credit carries 0% and another 8.65%, with a balance of $82,530. The note says its payments are $948 a month, which is $11,376 a year (worked out by us), but the balance fell $16,739 in 2025.
Found by reading the town's own documents · 3 sources
$43,200gap between the posted capital budget and the capital budget in the audited statements (worked out by us)
The Town posts a one-page 2025 Operating Budget and a one-page 2025 Capital Budget. They differ from the budget the audited statements print as adopted by Council. The capital budget totals $360,443; the statements' budget has $317,243 of capital spending, a gap of $43,200 (worked out by us). The operating budget shows provincial grants of $993,540.00 and federal grants of $15,404.45; the statements show $1,017,970 and $68,174. It shows user charges of $194,254.24 against $202,274. Both budgets agree on property taxes ($881,929) and on water and sewer fees ($609,312).
Found by reading the town's own documents · 3 sources
$1,517,500provincial contribution the Town guaranteed in 2010, for a 20-year housing agreement
A contingent liability is money a town might have to pay if something happens. The audited statements disclose two. In March 2010 the Town became guarantor for an agreement between a non-profit housing organization and the Province of Ontario, to offer affordable housing for 20 years. The Province's contribution was $1,517,500. The statements also say the Town "has many old mine sites and tailing ponds", that the Province's mines ministry has always taken responsibility for the cost, and that management's opinion is that all contaminated sites have been remedied and the Town is not responsible for future liabilities. The statements record no amount for either.
Found by reading the town's own documents · 2 sources
−$2.0Mnet financial position, 2025
In 2019, Cobalt had $511K more in cash and money owed to it than it owed to others. By 2025 it was −$2.0M. About 26% of that change ($664K) 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 1 of 31 similar towns are in a weaker position.
Found automatically from the town's financial reports · 2 sources
A property tax bill in Cobalt pays for the town and schools. Only part of it goes to the town, and that part is what Cobalt council controls.
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