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by hand, Oct 2026DetailsThis is built from public records, which leave a lot out, and some of it may be wrong or out of date.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 Kapuskasing'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 Kapuskasing's financial reports and meeting minutes, and compared its numbers with 16 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.
$8,824,835capital deficiency of the Town's solar companies at December 31, 2022 (up from $6,373,405)
The Town owns a company called Énergie Kapuskasing Energy Inc., which owns two solar power companies. These are kept apart from the Town's own books. The audited 2022 statements say their combined "capital deficiency" (what they owe beyond what they own) was $8,824,835 at the end of 2022, up from $6,373,405 a year earlier, after a net loss of $2,451,430 for the year. The statements say the Town, as the only owner, "is responsible for this excess of liabilities over assets". The loss was much larger than the year before ($814,793), mostly because of a line called "Other income (expenses)" of ($1,741,494), against $205,895 of income in 2021. The statements do not say what is in that line. These are the latest statements we could read: the 2023 and 2024 statements are posted, but only through a viewer that does not allow automated reading.
Found by reading the town's own documents · 3 sources
$14,813,519owed to the Town by its solar companies at December 31, 2022, unsecured, no set repayment terms
At the end of 2022 the Town was owed $14,813,519 by the two solar companies. The statements say these loans bear 4% interest, are "unsecured with no set terms of repayment", and that the Town charged $440,052 of interest on them. That is about 46% of the Town's financial assets of $32,184,377 (worked out by us). The Town has also guaranteed three bank loans of the energy and solar companies totalling $14,206,444. One of those loans, $1,051,167, was due in November 2023, and the other two, $6,416,906 and $6,738,371, are due in April 2027.
Found by reading the town's own documents · 3 sources
$5,753,361working capital reserve at December 31, 2022, down from $9,140,776
A reserve is money Council sets aside for later. The "working capital" reserve is the one that covers day-to-day cash needs. It was $9,140,776 at the end of 2021 and $5,753,361 at the end of 2022, a fall of $3,387,415 (worked out by us). Cash and cash equivalents fell from $8,231,859 to $5,113,795 over the same year. The Town also has a bank line of credit of $18,545,126 from January 1 to September 30, falling to $9,272,563 for the last three months of the year.
Found by reading the town's own documents · 3 sources
$6,440,191principal and interest due in 2027, against $2,456,427 due in 2023
The Town's long-term debt was $22,566,796 at the end of 2022. The statements list what must be paid in each of the next five years. In 2023 to 2026 the principal is about $1.5 to $1.7 million a year. In 2027 it is $5,871,887, and the total with interest is $6,440,191. The reason is one new loan in 2022, a 4.70% loan with a balance of $5,935,212 "due in 2027", whose monthly payments of $46,734 are far too small to pay it off by then (worked out by us). The statements say the Town's yearly payments are within the limit set by the province. The same statements show a $1,900,000 investment that matures in December 2027.
Found by reading the town's own documents · 3 sources
In 2024, Kapuskasing collected $1.2M more in its own property tax than in 2023. That is a 10% jump, while prices went up about 2.4%. Only 2 of 16 similar towns raised theirs by more. Almost all of it came from a higher tax rate (up 11% for homes); the value of homes on the tax roll grew only 0.5%.
Found automatically from the town's financial reports · 4 sources
Kapuskasing spent $2.3M on running the town office in 2019 and $6.7M in 2024. Prices only went up about 18% in that time. Only 0 of 16 similar towns had faster growth here.
Found automatically from the town's financial reports · 3 sources
$3,024dividends received from solar investments in 2022 (2021: $278,971)
Besides the companies in the first question, the Town is the majority owner of 7 companies and holds a limited partnership interest in two partnerships, all running solar projects. It received $3,024 in dividends from these in 2022, against $278,971 in 2021. The statements also say the Town "has agreements in place that indemnifies them for all costs, losses and liabilities related to these investments and projects" (the word means the Town promises to cover them). The statements say the fair market value of these investments "are currently not determinable". The Town's own budget for solar energy revenues in 2022 was $275,955 and the actual was $250,150.
Found by reading the town's own documents · 2 sources
42026 budgets listed as mayoral decisions (operating, capital, water, sewer)
The Town's Agendas and Minutes page says that "Strong Mayor Powers were expanded to the Mayor of Kapuskasing as of May 1, 2025". It lists the mayoral decisions made under them: MD-2025-01, MD-2026-01 "Approval of the 2026 Operating Budget", MD-2026-02 "Approval of the 2026 Capital Budget", MD-2026-03 "Approval of the 2026 Water Budget" and MD-2026-04 "Approval of the 2026 Sewer Budget". The page says there are no mayoral directives to date. The decisions themselves are posted as links to documents that we could not read, and the budget page does not say whether Council also voted on the budgets.
Found by reading the town's own documents · 1 source
$8,824,835capital deficiency of the Town's solar companies at December 31, 2022 (up from $6,373,405)
The Town owns a company called Énergie Kapuskasing Energy Inc., which owns two solar power companies. These are kept apart from the Town's own books. The audited 2022 statements say their combined "capital deficiency" (what they owe beyond what they own) was $8,824,835 at the end of 2022, up from $6,373,405 a year earlier, after a net loss of $2,451,430 for the year. The statements say the Town, as the only owner, "is responsible for this excess of liabilities over assets". The loss was much larger than the year before ($814,793), mostly because of a line called "Other income (expenses)" of ($1,741,494), against $205,895 of income in 2021. The statements do not say what is in that line. These are the latest statements we could read: the 2023 and 2024 statements are posted, but only through a viewer that does not allow automated reading.
Why it matters
Solar projects are meant to earn money for the Town. A growing deficit that the Town has said it is responsible for is a cost that could later land on taxpayers. Residents can only judge it if they can see what caused the 2022 loss and whether it has continued.
It could be because…
Solar projects often lose money in their early years because of loan interest and depreciation, and earn later. The 2022 statements describe the projects as operating solar generation projects.
Much of the loss may be a one-time accounting charge in "Other income (expenses)", not cash leaving the company. The statements do not say, so this is a guess.
The statements say the full financial statements of the energy company can be obtained from the Town's management, so the detail may already be available on request.
Questions you could ask
What is in the "Other income (expenses)" line of ($1,741,494) in 2022, and did the same items continue in 2023, 2024 and 2025?
What were the solar companies' net results for 2023, 2024 and 2025, and what does the Town expect them to earn each year from here?
At what level of deficit would Council step in, and has it been asked to?
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 Kapuskasing?Send us your answer and we will publish it with this question.
The evidence
Note 13: capital deficiency of Énergie Kapuskasing Energy Inc. and Solaire Kapuskasing Solar Inc. combined, beginning of 2022 $6,373,405, net loss $2,451,430, end of year $8,824,835. "The municipality, as the sole owner of the corporations, is responsible for this excess of liabilities over assets (capital deficiency)." The 2021 net loss was $814,793.
Note 23, summary statement of operations of the energy company: "SALE OF ENERGY" $1,665,603, "OPERATING EXPENSES" 2,375,539, "LOSS FROM OPERATIONS" (709,936), "OTHER INCOME (EXPENSES)" (1,741,494) (2021: 205,895), "NET LOSS AND COMPREHENSIVE LOSS" $ (2,451,430).
Note 23, continued: "The complete set of financial statements can be obtained from management of the municipality." (said of the energy company's own statements, which the note says are prepared under International Financial Reporting Standards).
$14,813,519owed to the Town by its solar companies at December 31, 2022, unsecured, no set repayment terms
At the end of 2022 the Town was owed $14,813,519 by the two solar companies. The statements say these loans bear 4% interest, are "unsecured with no set terms of repayment", and that the Town charged $440,052 of interest on them. That is about 46% of the Town's financial assets of $32,184,377 (worked out by us). The Town has also guaranteed three bank loans of the energy and solar companies totalling $14,206,444. One of those loans, $1,051,167, was due in November 2023, and the other two, $6,416,906 and $6,738,371, are due in April 2027.
Why it matters
Money lent with no repayment dates, to companies that are running a deficit, may not come back soon. If the companies could not pay their guaranteed bank loans, the Town could be asked to. Residents should be able to see how likely that is.
It could be because…
Loans between a town and companies it owns are often open-ended while the projects are paying down their bank debt first.
The 4% interest is being charged and recorded, which suggests the Town treats the loans as real.
The solar projects have long contracts to sell power, so repayment may be planned over many years even though the statements print no dates.
Questions you could ask
Is there a written repayment plan for the $14,813,519, and has any of it been repaid since 2022?
Was the $1,051,167 loan due in November 2023 repaid or renewed, and did the Town's guarantee stay in place?
How will the two loans due in April 2027 be paid or refinanced, and who is expected to pay if the solar companies cannot?
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 Kapuskasing?Send us your answer and we will publish it with this question.
Note 8: "Énergie Kapuskasing Energy Inc." $7,038,707 and "Solaire Kapuskasing Solar Inc." 7,774,812, total $14,813,519 (2021: 14,338,514). "The above notes receivable bear interest of 4%, are unsecured with no set terms of repayment. A total of $440,052 (2021 - $440,052) of interest was charged to these government business enterprises."
Note 23: "the municipality has guaranteed the following loans held by its government business enterprises": loan payable to la Caisse populaire Alliance Ltée., maturing in November 2023, $ 1,051,167; Solaire Kapuskasing Solar Inc., Concentra Bank, due in April 2027, 6,416,906; Solaire Kapuskasing Solar Inc., TD Equipment Finance Canada, due in April 2027, 6,738,371; total $14,206,444.
$5,753,361working capital reserve at December 31, 2022, down from $9,140,776
A reserve is money Council sets aside for later. The "working capital" reserve is the one that covers day-to-day cash needs. It was $9,140,776 at the end of 2021 and $5,753,361 at the end of 2022, a fall of $3,387,415 (worked out by us). Cash and cash equivalents fell from $8,231,859 to $5,113,795 over the same year. The Town also has a bank line of credit of $18,545,126 from January 1 to September 30, falling to $9,272,563 for the last three months of the year.
Why it matters
A cushion that shrinks quickly leaves less room for surprises, and may mean borrowing or higher taxes later. Residents can only see whether the cushion is being rebuilt by reading the later statements.
It could be because…
Council may have chosen to use reserves for a one-time purpose in 2022, which is what reserves are for. Capital project reserves rose from $3,012,926 to $3,573,282 and the water reserve from $3,290,538 to $3,833,957 in the same year.
The Town may hold a line of credit mainly to cover the months before tax bills are paid, as the lower limit in the last three months suggests.
The reserve may have recovered in 2023 and 2024. We could not read those statements.
Questions you could ask
What did Council use the $3,387,415 for, and which meeting approved it?
What were the working capital reserve and the line of credit balance at the end of 2023, 2024 and 2025?
Does the Town have a target size for this reserve?
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 Kapuskasing?Send us your answer and we will publish it with this question.
The evidence
Note 17, reserves set aside by Council: "Working capital" $5,753,361 (2021: $9,140,776), "Capital projects" 3,573,282 (3,012,926), "Water system" 3,833,957 (3,290,538); total reserves 19,278,197 (21,703,231).
Note 11: "The municipality has an authorized line of credit of $18,545,126 from January 1st to September 30th and reducing to $9,272,563 from October 1st to December 31st, bearing interest at prime".
$6,440,191principal and interest due in 2027, against $2,456,427 due in 2023
The Town's long-term debt was $22,566,796 at the end of 2022. The statements list what must be paid in each of the next five years. In 2023 to 2026 the principal is about $1.5 to $1.7 million a year. In 2027 it is $5,871,887, and the total with interest is $6,440,191. The reason is one new loan in 2022, a 4.70% loan with a balance of $5,935,212 "due in 2027", whose monthly payments of $46,734 are far too small to pay it off by then (worked out by us). The statements say the Town's yearly payments are within the limit set by the province. The same statements show a $1,900,000 investment that matures in December 2027.
Why it matters
A large payment due on one date has to be paid from savings, refinanced with new debt, or covered by taxes. The choice affects the 2027 budget, which will be set by the council elected in October 2026.
It could be because…
A loan with a short term and a large final payment is a common way to borrow, with the plan to renew it when it comes due.
The Town says its yearly debt payments are within the provincial limit, which suggests the 2027 amount was checked against it.
The $1,900,000 investment maturing in December 2027 may be meant to help with it. The statements do not say.
Questions you could ask
Was the 4.70% loan renewed, paid down or refinanced after 2022, and on what terms?
What is the plan for the 2027 payment, and has Council been shown it?
What is the Town's debt balance today compared with the $22,566,796 at the end of 2022?
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 Kapuskasing?Send us your answer and we will publish it with this question.
The evidence
Note 15, long-term debt: "4.70% loan payable in blended monthly instalments of $46,734, due in 2027" $5,935,212 at December 31, 2022 (nothing in 2021).
Note 15, continued: principal and interest payments required: 2023 $1,651,757 and $804,670, total $2,456,427; 2024 total 2,408,758; 2025 total 2,362,442; 2026 total 2,145,971; 2027 principal 5,871,887, interest 568,304, total 6,440,191. Total debt $22,566,796. "The annual principal and interest payments required to service these long-term liabilities are within the annual debt repayment limit as prescribed by the Ministry of Municipal Affairs and Housing."
Note 5, short-term investments: "GIC earning 4.35% maturing in December 2027" $1,900,000 and "GIC earning 3.50% maturing in December 2023" 500,000; total $2,400,000.
In 2024, Kapuskasing collected $1.2M more in its own property tax than in 2023. That is a 10% jump, while prices went up about 2.4%. Only 2 of 16 similar towns raised theirs by more. Almost all of it came from a higher tax rate (up 11% for homes); the value of homes on the tax roll grew only 0.5%.
Why did Kapuskasing's property tax go up 10% in 2024?
$0$5.0M$10M$15M
$13.5M
201920202021202220232024
Show as a table
Year
Town property tax
2019
$12.3M
2020
$11.9M
2021
$11.7M
2022
$11.9M
2023
$12.3M
2024
$13.5M
Why it matters
A big one-year jump usually means something changed: a new cost, a service that grew, savings being rebuilt, or a problem from earlier years being paid for now. Residents should be able to see exactly which. Spread across every home, it is about $301 more each year.
It could be because…
Costs the town cannot control went up, such as policing, insurance or county charges.
The town kept taxes too low in earlier years and is catching up.
The town is rebuilding savings or paying for a big project like a bridge or equipment.
Questions you could ask
What were the three biggest reasons for the 2024 increase, in dollars?
Is a similar increase planned for next year?
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 Kapuskasing?Send us your answer and we will publish it with this question.
The evidence
Town property tax: $12,256,100 in 2023, $13,493,467 in 2024.
Kapuskasing spent $2.3M on running the town office in 2019 and $6.7M in 2024. Prices only went up about 18% in that time. Only 0 of 16 similar towns had faster growth here.
Why did the cost of running the town office grow 195% in 5 years?
Running the town office
Prices (inflation)
−50%+0%+50%+100%+150%+200%
+195%
201920202021202220232024
Show as a table
Year
Running the town office
Prices (inflation)
2019
+0%
+0%
2020
−14%
+1%
2021
−11%
+4%
2022
−10%
+11%
2023
+17%
+16%
2024
+195%
+18%
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 $4.5M a year pay for?
Why did senior management go from $2.2M to $6.6M?
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 Kapuskasing?Send us your answer and we will publish it with this question.
The evidence
Running the town office: 2019 $2.3M, 2020 $2.0M, 2021 $2.0M, 2022 $2.1M, 2023 $2.7M, 2024 $6.7M.
Kapuskasing spent about $4,679 per home on long-term debt in 2024. The typical similar town spent $2,329. Only 2 of 16 similar towns spent more.
Why it matters
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.
It could be because…
Geography: more roads, more snow, a bigger area or a landfill of its own.
Accounting: some towns record the same cost in a different category.
A one-time cost in this year.
Questions you could ask
What makes this cost higher here than in similar towns?
When were the main contracts in this area last put out to competitive tender?
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 Kapuskasing?Send us your answer and we will publish it with this question.
The evidence
Long-term debt per home: Kapuskasing $4,679; typical similar town $2,329; ranked 3rd highest of 17.
$3,024dividends received from solar investments in 2022 (2021: $278,971)
Besides the companies in the first question, the Town is the majority owner of 7 companies and holds a limited partnership interest in two partnerships, all running solar projects. It received $3,024 in dividends from these in 2022, against $278,971 in 2021. The statements also say the Town "has agreements in place that indemnifies them for all costs, losses and liabilities related to these investments and projects" (the word means the Town promises to cover them). The statements say the fair market value of these investments "are currently not determinable". The Town's own budget for solar energy revenues in 2022 was $275,955 and the actual was $250,150.
Why it matters
A promise to cover all costs and losses of nine solar entities is open-ended. Residents cannot tell from the statements how large it could be, or why the payments to the Town dropped almost to nothing.
It could be because…
Dividends from flow-through shares (a tax-driven kind of investment) can be uneven from one year to the next.
The 2021 amount may have included a one-time payment.
The promise to cover costs may be a standard term of these joint projects and may have never been used.
Questions you could ask
What is the largest amount the Town could have to pay under the promise to cover costs and losses, and has it ever paid anything under it?
Why were dividends almost nothing in 2022, and what were they in 2023 to 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 Kapuskasing?Send us your answer and we will publish it with this question.
The evidence
Note 10: "The municipality is a majority shareholder in 7 corporations and owns a limited partnership interest in two partnerships that are all operating solar generation projects ... In addition, the municipality has agreements in place that indemnifies them for all costs, losses and liabilities related to these investments and projects. The fair market value of these investments are currently not determinable. During the year, the municipality received dividends of $3,024 (2021 - $278,971) from these investments."
Note 18, other revenues: "Solar energy revenues" budget $275,955, 2022 actual 250,150, 2021 actual 273,824; "Dividends from solar flow through shares" budget -, 2022 actual 3,024, 2021 actual 278,971.
42026 budgets listed as mayoral decisions (operating, capital, water, sewer)
The Town's Agendas and Minutes page says that "Strong Mayor Powers were expanded to the Mayor of Kapuskasing as of May 1, 2025". It lists the mayoral decisions made under them: MD-2025-01, MD-2026-01 "Approval of the 2026 Operating Budget", MD-2026-02 "Approval of the 2026 Capital Budget", MD-2026-03 "Approval of the 2026 Water Budget" and MD-2026-04 "Approval of the 2026 Sewer Budget". The page says there are no mayoral directives to date. The decisions themselves are posted as links to documents that we could not read, and the budget page does not say whether Council also voted on the budgets.
Why it matters
A budget is the main way voters can see how their money will be spent and who decided. Residents should be able to see what Council did, what the Mayor decided, and when, ahead of the October 26, 2026 election.
It could be because…
The mayoral decision may be a formal last step recorded after Council's own budget meetings, with Council's discussion and votes in minutes we could not read.
Listing the decisions on the page may simply be how the Town meets its duty to make them public.
Council may have been asked to amend the budgets first.
Questions you could ask
On what dates were the 2026 budgets presented to Council, amended or voted on, and on what date did the Mayor sign each decision?
Will the 2027 budget be handled the same way, and when will it be published?
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 Kapuskasing?Send us your answer and we will publish it with this question.
Agendas and Minutes page: "Strong Mayor Powers were expanded to the Mayor of Kapuskasing as of May 1, 2025". "The Mayor is required to exercise these powers in writing and make them available to the public". Mayoral decisions listed: MD-2025-01; MD-2026-01 "Approval of the 2026 Operating Budget"; MD-2026-02 "Approval of the 2026 Capital Budget"; MD-2026-03 "Approval of the 2026 Water Budget"; MD-2026-04 "Approval of the 2026 Sewer Budget". Mayoral Directives: "none to date".
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