$1,251,686balance of the land loan at December 31, 2025, due March 1, 2027
The 2025 budget planned to buy $8,001,930 of new buildings, roads and equipment and to borrow $4,370,000 to help pay for it. The statements show $4,343,712 of purchases and $415,176 of new debt. The statements also show $861,620 of "unfunded capital" for transportation projects that "will be funded through a future debenture" (a debenture is a loan sold to investors or a lender). One existing loan, for land, had a balance of $1,251,686 at the end of 2025 and is due March 1, 2027. The Municipality's net financial assets (what it has in the bank and owed to it, less what it owes) fell from $1,256,768 to $249,169 in 2025.
$6,542,913asset retirement obligation at December 31, 2025, up from $4,342,412
The Municipality runs six landfill sites. The law and accounting rules make it record the future cost of closing them and looking after them for 25 years afterward. That total (the "asset retirement obligation") was $4,342,412 at the end of 2024 and is $6,542,913 at the end of 2025. Of the rise, $1,668,801 is a re-estimate of the landfill cost and $531,700 is "accretion" (interest added as the closing date gets closer). In 2024 the same re-estimate went the other way, down by $2,781,484. Spending on environmental services (sewers, waste and recycling) was $1,743,900 in 2024 and $4,291,087 in 2025, against a 2025 budget of $4,129,939. The increase of $2,200,501 in the obligation is worked out by us from the two printed balances.
$548,221"Rents and financial" in 2025, against a budget of $17,400
The statements break spending down by type. "Rents and financial" was budgeted at $17,400 for 2025 and came in at $548,221. In 2024 it was $150,671. The same table shows "Interest charges" of $84,230 in 2025 against $507,079 in 2024. Elsewhere the statements show "Accretion expense" of $531,700 in 2025 (from the landfill obligation). The statements do not say which line the accretion sits in. We noticed that the amount is close to the gap, but we cannot tell from the page whether they are the same money.
$635,464capital additions not previously recorded, found when 2024 was restated
The 2025 statements say the Municipality "restated its 2024 financial statements for tangible capital asset entries that were previously ommitted in error" (the word is spelled that way in the statements). The adjustments include capital additions of $635,464 not previously recorded and amortization (the yearly wearing-out charge) of $437,431 not previously recorded. The restated 2024 annual surplus is $3,162,303; it had been $3,174,827. The audit also changed hands. The 2025 statements were audited by Baker Tilly KDN LLP, who note that 2024 was audited by another auditor whose opinion was dated June 24, 2025. The 2025 opinion is dated July 30, 2026. The 2025 opinion is clean ("present fairly").