Not the full picture. Built from public records, which leave things out.Read by hand, Oct 2026DetailsThis is built from public records, which leave a lot out, and some of it may be wrong or out of date. Check the sources, and tell us if you spot a mistake. What this site can't tell you Read by hand. We read Ingersoll's own documents for this site in October 2026; the Sources page lists which ones. The comparisons with other places still come from the Province's yearly reports.
Questions · 9 so far
Things worth asking about
We read Ingersoll's financial reports and meeting minutes, and compared its numbers with 43 similar Ontario towns. These are the things that stood out.
What these are, and what they are not. A question here means a number or practice is unusual, or harder to see than it should be. It does not mean anyone did anything wrong. Most unusual numbers turn out to have ordinary explanations, and every question lists some. The only way to know is to ask.
Worth asking
Worth asking
There may well be a good reason. It is still worth asking what it is.
$38,000,000construction contract for the recreation centre, signed after the end of 2025
The Town is building a Multi-Use Recreation Centre (the "MURC"). Its 2026 budget book puts the construction contract at $38,000,000, and the 2025 statements say the Town signed that contract after the year ended. Beside it sit two servicing projects (roads, water and sewers) of $9,465,000 and $9,332,000, so the three biggest sheets add up to $56,797,000 (worked out by us). The way the Town plans to pay has moved from one budget to the next. The 2024 budget planned $29,170 thousand of new debt in 2026 and $5,000 thousand of fundraising. The 2026 budget now plans $8,200,000 of debt for construction, $3,000,000 of donations and $13,308,000 from land sales. The Town's own forecast shows its savings (reserves) falling to $14,917,557 by 2027, and it has raised the most new debt it thinks it could borrow from $50 million to $65 million.
Found by reading the town's own documents · 8 sources
$13,308,000of the recreation centre's cost planned to come from land sales in 2026 and 2027
The 2026 capital budget counts on $7.4 million of "land sale proceeds" in 2026, and the recreation centre sheet counts on $13,308,000 across 2026 and 2027. In 2024 the Town sold part of its industrial land for net proceeds of $5,790,057. At the end of 2025 the land it still held for resale was carried at $2,195,747 in the statements. The statements say that figure is the lower of cost and what the land could be sold for, and they do not print what the land is worth on the market. The budget does not say which land is expected to be sold.
Found by reading the town's own documents · 4 sources
$25,662,411owed to the Township of South-West Oxford at the end of 2025 (2024: $25,101,105)
When 786 hectares moved from the Township of South-West Oxford to the Town on January 1, 2021, the Town agreed to pay the Township every year. The statements record that promise as a liability (money owed) of $25,662,411 at the end of 2025, up from $25,101,105 a year earlier. The Town says it is "unfunded", meaning no savings are set aside to cover it. The amount depends on future tax levies and new development on the annexed land, so it will keep changing.
Found by reading the town's own documents · 4 sources
$5,489,456general government spending in 2025, against a budget of $3,818,661
The 2025 budget set aside $3,818,661 for general government (council, administration and corporate costs). The statements show $5,489,456 was spent, which is $1,670,795 more (worked out by us). In the same statements, "contributions to others" were budgeted at $107,243 and came in at $1,629,842. In 2024 that same line was a credit of $1,389,909 (a negative number). The statements do not say what these contributions were. Overall the Town still ended 2025 with a surplus of $3,157,939 against a budget of $774,959.
Found by reading the town's own documents · 3 sources
$1,506,931final settlement of the large taxpayer's appeals, accrued in 2025
The statements describe "a significant ratepayer" (a large taxpayer) that appealed its property assessment for the 2023, 2024 and 2025 tax years. The Town set aside $3,928,000 for 2023 and $2,312,185 in the 2024 statements. The appeals were settled in 2025 for $1,506,931, and the taxpayer then stopped production at its facility. The Town has also set aside $800,221 in case its assessment is cut further for 2026 and later years. The tax is shared between the Town, the County and school boards. The Town's 2026 budget lists large appeals as a risk.
Found by reading the town's own documents · 3 sources
$195,177added to the 2024 annual surplus by the restatement
The 2025 statements restate the 2024 numbers. The Town found that money released to building contractors in earlier years (called "holdbacks") had been recorded as extra capital costs, which counted some project costs twice and kept debts on the books that had been paid. The fix raised 2024's annual surplus from $8,488,215 to $8,683,392. The Town also says some amounts were wrongly shown as paid from the Industrial Land Reserve Fund, and that a set of investments was reclassified under a different accounting rule. The auditors added a note drawing attention to the restatement, and their opinion on 2025 is clean. The 2024 auditors' report is dated October 6, 2025.
Found by reading the town's own documents · 4 sources
Ingersoll spent $2.6M on running the town office in 2019 and $5.3M in 2025. Prices only went up about 21% in that time. Only 7 of 43 similar towns had faster growth here.
Found automatically from the town's financial reports · 3 sources
At the end of 2025, $3.8M of property tax had been billed but not paid. That is 10% of everything billed. Only 10 of 43 similar towns had a higher share. A year earlier it was $1.2M.
Found automatically from the town's financial reports · 2 sources
$13,608,976the Town's investment in ERTH Corporation at the end of 2025
The Town owns 30.16% of ERTH Corporation, a company incorporated in Ontario. The statements carry the stake at $13,608,976: a loan to ERTH (a promissory note) of $4,543,500 and shares of $9,065,476. The note earns 7.25% interest, which was $329,404 in 2025. ERTH declared dividends in 2025, of which the Town's share was $310,597, but the Town had not yet been paid. The note has no end date and no repayments are expected in the next year. The Town stopped treating ERTH as a business it controls on January 1, 2024, and now carries it at the cost it had on that date.
Found by reading the town's own documents · 2 sources
$38,000,000construction contract for the recreation centre, signed after the end of 2025
The Town is building a Multi-Use Recreation Centre (the "MURC"). Its 2026 budget book puts the construction contract at $38,000,000, and the 2025 statements say the Town signed that contract after the year ended. Beside it sit two servicing projects (roads, water and sewers) of $9,465,000 and $9,332,000, so the three biggest sheets add up to $56,797,000 (worked out by us). The way the Town plans to pay has moved from one budget to the next. The 2024 budget planned $29,170 thousand of new debt in 2026 and $5,000 thousand of fundraising. The 2026 budget now plans $8,200,000 of debt for construction, $3,000,000 of donations and $13,308,000 from land sales. The Town's own forecast shows its savings (reserves) falling to $14,917,557 by 2027, and it has raised the most new debt it thinks it could borrow from $50 million to $65 million.
Why it matters
This is by far the biggest project in the budget, and the money comes from four places at once: savings, new debt, donations and land sales. If donations or land sales come in lower or later than planned, the gap is filled by more debt or by the Town's savings, which residents repay through taxes.
It could be because…
Plans for a project this big change as designs, prices and grants become firm. The Town calls its early debt numbers "preliminary" in all three budgets.
The Town may have chosen to use more of its own reserves and land sales so it needs less debt, which would cost taxpayers less interest.
The $65 million figure is the most staff think the Town could borrow, not a plan to borrow it. The 2026 budget says no new debt is needed in 2026.
The servicing projects open up land for a school, a care facility and housing as well as the recreation centre, so not all of their cost may belong to the centre.
Questions you could ask
What is the total expected cost of the recreation centre and the servicing work together, and who pays each part?
How much of the $3,000,000 in donations has been promised in writing, and what happens if it falls short?
The construction sheet says it finishes in summer 2028, while the reserves page says 2027. Which date is right?
The 2026 budget says construction began in 2025, while the 2025 statements say the contract was signed after year end. What was built in 2025?
If debt is needed in 2027, how much, for how long and at what interest rate, and when will Council vote on 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 Ingersoll?Send us your answer and we will publish it with this question.
2024-2027 budget, funding sources table ($000's): for 2026, "Debt" 29,170 and "Fundraising" 5,000, with a 2026 total of $47,016. The text under it says the debt "is directly tied to the construction of the MURC" and the numbers are "preliminary".
2024-2027 budget, debt section: the Town "anticipates the ability to secure a maximum of $50 million in new debt annually", at a 6 percent interest rate.
2026-2027 budget, sheet "MURC - Clark Road Urbanization": total 9,465,000, funded by Debenture 7,040,000 and Land Sale Proceeds 2,262,000 and Reserves 163,000. Sheet "MURC - Internal Land Servicing & Stormwater Management": total 9,332,000, funded by Reserves 5,562,000, Grant 2,470,000, Debenture 655,000 and Land Sale Proceeds 645,000.
2026-2027 budget: reserves and reserve funds fall "reaching $14,917,557 by 2027", and "MURC construction has begun in 2025, with completion expected in 2027". Staff "anticipates the ability to secure a maximum of $65 million in new debt".
2025 statements, note 20, subsequent event: "Subsequent to year end, the Town has committed to a construction contract for a new multi-use facility. The total value of the contract is $38,000,000."
$13,308,000of the recreation centre's cost planned to come from land sales in 2026 and 2027
The 2026 capital budget counts on $7.4 million of "land sale proceeds" in 2026, and the recreation centre sheet counts on $13,308,000 across 2026 and 2027. In 2024 the Town sold part of its industrial land for net proceeds of $5,790,057. At the end of 2025 the land it still held for resale was carried at $2,195,747 in the statements. The statements say that figure is the lower of cost and what the land could be sold for, and they do not print what the land is worth on the market. The budget does not say which land is expected to be sold.
Why it matters
Land sales are one-time money. If the budget spends money that has not yet arrived, a late or low sale means borrowing more or drawing down savings.
It could be because…
The land held for resale is recorded at its accounting value, which can be far below what a buyer would pay. The 2024 sale brought in much more than the land's carrying amount of $212,156.
The land may include parcels the Town gained or serviced for development, so the sales could be agreed already.
The Town may plan to sell land beyond what is shown as "land for resale" (for example, lands around the recreation centre).
Questions you could ask
Which parcels does the budget expect to sell in 2026 and 2027, and for how much each?
Are any of those sales under signed agreements today?
If the sales come in lower or later, what is the fallback: debt, reserves or a smaller project?
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 Ingersoll?Send us your answer and we will publish it with this question.
The evidence
2026-2027 budget, capital overview: the 2026 capital plan of 60 projects, "$37.9 million", is funded by Reserves of $21.35 million, Reserve funds of $1.35 million, Grants and fundraising of $5.95 million, "Land sale proceeds: $7.4 million" and a County contribution of $65,000.
2024 statements, note 1, land for resale: "The net proceeds from the sale were $5,790,057, and the carrying amount of the land sold was $212,156. The gain on the sale of land, accounting for the cost to sell, amounted to $5,577,900".
2025 statements: "Land for resale" 2,195,747 on the statement of financial position. The policy note says "The Land for resale is zoned for industrial purposes. The land is recorded at net realizable value which is less than cost."
$25,662,411owed to the Township of South-West Oxford at the end of 2025 (2024: $25,101,105)
When 786 hectares moved from the Township of South-West Oxford to the Town on January 1, 2021, the Town agreed to pay the Township every year. The statements record that promise as a liability (money owed) of $25,662,411 at the end of 2025, up from $25,101,105 a year earlier. The Town says it is "unfunded", meaning no savings are set aside to cover it. The amount depends on future tax levies and new development on the annexed land, so it will keep changing.
Why it matters
A debt of this size is worth about as much as all of the Town's cash and savings. Payments come out of future tax revenue, so residents should know what the yearly payment is and how long it runs.
It could be because…
The Town gained land, industry and tax revenue from the annexation, and the liability is the price of that. The payments are tied to the tax the Town collects on that land.
A "present value" figure is a worked-out estimate of future payments. It rises a little each year as the Town gets closer to paying, even when nothing new has happened.
Spreading the payments over many years may be cheaper for taxpayers than paying a lump sum.
Questions you could ask
What is the yearly payment to the Township for 2026, and how many years does the arrangement run?
Why did the liability fall by about two million dollars in 2024 and rise again in 2025?
Is any money set aside to pay it, or will it come from each year's tax levy?
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 Ingersoll?Send us your answer and we will publish it with this question.
2025 statements, note 7: "a liability is recognized for the compensation due to the Township in the amount of $25,662,411 (2024 - $25,101,105)", worked out using "a current discount rate of 4.50% and an inflation rate of 2.0%". The Town pays a base amount each year, plus "24% of the Town's own-purpose taxes" on the CAMI plant lands and on new commercial or industrial development on the annexed lands.
2025 statements, note 7, first sentence: "On January 1, 2021, the Corporation of the Town of Ingersoll's boundary lines were expanded to include 786 hectares of land transferred from the Township of South-West Oxford ("the Township") to the Town's jurisdiction."
$5,489,456general government spending in 2025, against a budget of $3,818,661
The 2025 budget set aside $3,818,661 for general government (council, administration and corporate costs). The statements show $5,489,456 was spent, which is $1,670,795 more (worked out by us). In the same statements, "contributions to others" were budgeted at $107,243 and came in at $1,629,842. In 2024 that same line was a credit of $1,389,909 (a negative number). The statements do not say what these contributions were. Overall the Town still ended 2025 with a surplus of $3,157,939 against a budget of $774,959.
Why it matters
A line that swings from a credit of $1.4 million to a $1.6 million cost in a year is hard for a resident to follow, and the statements give no reason.
It could be because…
The line may include a one-time adjustment, such as a change in the estimate of the boundary payment owed to the neighbouring township (see the boundary question), which moves up and down with each year's estimate.
The budget is written on a different accounting basis from the statements, and the statements say it was adjusted to match, so some gap may be accounting only.
Revenue was also above budget, so overall the Town finished well ahead of plan.
Questions you could ask
What made up the $1,629,842 of contributions to others in 2025, and the credit of $1,389,909 in 2024?
Was the 2025 increase planned in a Council report, and where can residents read 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 Ingersoll?Send us your answer and we will publish it with this question.
The evidence
2025 statements, statement of operations: "General government" budget 3,818,661, actual 2025 5,489,456, actual 2024 2,356,676. "Annual surplus/(deficit)" budget 774,959, actual 3,157,939.
$1,506,931final settlement of the large taxpayer's appeals, accrued in 2025
The statements describe "a significant ratepayer" (a large taxpayer) that appealed its property assessment for the 2023, 2024 and 2025 tax years. The Town set aside $3,928,000 for 2023 and $2,312,185 in the 2024 statements. The appeals were settled in 2025 for $1,506,931, and the taxpayer then stopped production at its facility. The Town has also set aside $800,221 in case its assessment is cut further for 2026 and later years. The tax is shared between the Town, the County and school boards. The Town's 2026 budget lists large appeals as a risk.
Why it matters
One taxpayer's assessment can move the Town's revenue by millions of dollars. If the assessment stays lower, other taxpayers or other budget lines make up the difference.
It could be because…
An assessment appeal is a lawful process, and settling can be cheaper than a long hearing.
The set-aside amounts are estimates. The Town said it had "considerable uncertainty" in 2024 and later replaced the estimate with a settlement figure.
Part of the money affected belongs to the County and school boards, not only to the Town.
Questions you could ask
How much of the settlement and of the $800,221 is the Town's own share, and how much is the County's and school boards'?
Is the 2026 tax levy built on the lower assessment?
Are other large appeals still open, and how much money do they put at risk?
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 Ingersoll?Send us your answer and we will publish it with this question.
The evidence
2024 statements, note 15: the appeal covers "the taxation years between 2023 to 2024", and "an estimated amount of $2,312,185 (2023 - $3,928,000) has been recognized at this time".
2025 statements, note 15: the appeals "were resolved during 2025, with the final settlement amount determined to be $1,506,931". After the ratepayer "ceased production at its facility", "an estimated amount of $800,221 has been recognized" for possible future reassessments.
2026-2027 budget: "Large assessment appeals, particularly from industrial taxpayers, create financial uncertainty." The Town "continues to monitor outstanding appeals closely".
$195,177added to the 2024 annual surplus by the restatement
The 2025 statements restate the 2024 numbers. The Town found that money released to building contractors in earlier years (called "holdbacks") had been recorded as extra capital costs, which counted some project costs twice and kept debts on the books that had been paid. The fix raised 2024's annual surplus from $8,488,215 to $8,683,392. The Town also says some amounts were wrongly shown as paid from the Industrial Land Reserve Fund, and that a set of investments was reclassified under a different accounting rule. The auditors added a note drawing attention to the restatement, and their opinion on 2025 is clean. The 2024 auditors' report is dated October 6, 2025.
Why it matters
Audited numbers are what Council and residents rely on. A mistake that sat in the records for several years, and in an audited year, is worth understanding.
It could be because…
Restating is the right thing to do when an error is found, and it shows the Town's checks caught it.
The change is small next to the Town's totals. It moved accumulated surplus by $195,177.
The 2024 report may have been dated in October because the Town was also reviewing how to account for its ERTH investment.
Questions you could ask
How did the holdback error go unnoticed in prior audits, and what has the Town changed to catch it earlier?
Which reserve fund balances were corrected, and by how much?
Why was the 2024 report signed on October 6, 2025?
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 Ingersoll?Send us your answer and we will publish it with this question.
The evidence
2025 statements, note 1(a): "Accounts payable and accrued liabilities" $6,581,484 previously reported, adjustment $(390,354), adjusted $6,191,130. "Annual surplus" 8,488,215 previously reported, adjustment 195,177, adjusted 8,683,392. "Holdback amounts that had been released to contractors in prior years were not properly applied against the related holdback liabilities."
2025 statements, note 1: "amounts were also incorrectly allocated as being funded from the Industrial Land Reserve Fund". Note 1(b): "Investments" $10,500,048 previously reported, adjustment $498,402, adjusted $10,998,450.
Ingersoll spent $2.6M on running the town office in 2019 and $5.3M in 2025. Prices only went up about 21% in that time. Only 7 of 43 similar towns had faster growth here.
Why did the cost of running the town office grow 105% in 6 years?
Running the town office
Prices (inflation)
−100%+100%+300%+500%+700%+900%+1100%
+105%
2019202020212022202320242025
Show as a table
Year
Running the town office
Prices (inflation)
2019
+0%
+0%
2020
+16%
+1%
2021
+991%
+4%
2022
+53%
+11%
2023
+131%
+16%
2024
−16%
+18%
2025
+105%
+21%
Change since the first year shown. The grey line is how much prices rose overall, for comparison.
Why it matters
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.
It could be because…
The town added a service, a building or staff that residents asked for.
Costs were moved from another area, so the total did not really change.
Accounting rules changed how costs are sorted.
Large one-time costs, like a study, lawsuit or repair, landed in one year.
Questions you could ask
What did the extra $2.7M a year pay for?
Why did senior management go from $1.6M to $3.8M?
Was each increase approved by council as a separate decision, or did it happen through the yearly budget?
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 Ingersoll?Send us your answer and we will publish it with this question.
The evidence
Running the town office: 2019 $2.6M, 2020 $3.0M, 2021 $28.2M, 2022 $4.0M, 2023 $6.0M, 2024 $2.2M, 2025 $5.3M.
At the end of 2025, $3.8M of property tax had been billed but not paid. That is 10% of everything billed. Only 10 of 43 similar towns had a higher share. A year earlier it was $1.2M.
Why are so many property taxes unpaid?
$0$1.0M$2.0M$3.0M$4.0M
$3.8M
2019202020212022202320242025
Show as a table
Year
Unpaid property tax at year end
2019
$920K
2020
$731K
2021
$362K
2022
$662K
2023
$902K
2024
$1.2M
2025
$3.8M
Why it matters
When taxes go unpaid, everyone else carries the cost, and the town may borrow to cover the gap. The Province's financial indicators treat 10% to 15% as a moderate risk and more than 15% as a high risk. Collection is the town's job, so a rising number is worth asking about.
It could be because…
The final tax bill was due late in the year, so some payments simply arrived in January.
A few large properties are in dispute or being sold for back taxes.
Hard times for residents, which the town may be handling with payment plans.
Questions you could ask
How much is more than one year overdue, and from how many properties?
Are the rules for chasing unpaid taxes applied the same way to everyone?
Has the town registered tax arrears certificates on properties about two years behind? If still unpaid a year after that, Ontario law lets the town sell the property.
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 Ingersoll?Send us your answer and we will publish it with this question.
The evidence
Taxes receivable: 2019 $920K, 2020 $731K, 2021 $362K, 2022 $662K, 2023 $902K, 2024 $1.2M, 2025 $3.8M. Of the 2025 total, $190K was from earlier years.
$13,608,976the Town's investment in ERTH Corporation at the end of 2025
The Town owns 30.16% of ERTH Corporation, a company incorporated in Ontario. The statements carry the stake at $13,608,976: a loan to ERTH (a promissory note) of $4,543,500 and shares of $9,065,476. The note earns 7.25% interest, which was $329,404 in 2025. ERTH declared dividends in 2025, of which the Town's share was $310,597, but the Town had not yet been paid. The note has no end date and no repayments are expected in the next year. The Town stopped treating ERTH as a business it controls on January 1, 2024, and now carries it at the cost it had on that date.
Why it matters
This one stake is about 15% of the Town's total accumulated surplus (worked out by us from $13,608,976 and $91,197,960). Residents may want to know the loan's terms and whether the shares could be sold for more than they are carried at.
It could be because…
A loan with no end date is common for utility companies owned by several towns.
A carrying value is an accounting number, not a sale price. The shares could be worth more or less.
The Town gets steady interest and a dividend from the stake, which helps the budget.
Questions you could ask
What are the full terms of the promissory note, and can the Town ask for repayment?
Has the Town been paid the $310,597 dividend declared for 2025?
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 Ingersoll?Send us your answer and we will publish it with this question.
The evidence
2025 statements, note 3: "Promissory note receivable" 4,543,500 and "Investment in common shares of ERTH Corporation" 9,065,476, total 13,608,976. The note "bears interest at 7.25%", the "term of the note is undefined", and interest received was $329,404. Dividends declared were $1,030,000, of which the Town's share was $310,597.
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