$18,602,143surplus in 2025, against a budgeted $37,486
A surplus is what is left when a year's revenue is more than its spending. The 2025 budget in the statements planned a surplus of $37,486. The audited result is $18,602,143. The year before, the statements' budget planned a deficit of $1,766,030 and the result was a surplus of $36,798,997. Worked out by us, 2025 revenue came in $21,300,125 above the budget and spending $2,735,468 above it. Three lines explain most of the revenue gap: money from developers (budgeted at nothing, $9,490,225 received), government grants ($651,719 budgeted, $5,624,440 received) and user fees ($8,535,148 budgeted, $11,958,763 received). The Township explains part of the gap: it budgets on a cash-style "fund" basis and converts to the statements' accrual basis afterwards, and on its own budget basis it ended 2025 with a $139 thousand deficit.
$13,833,929property taxes unpaid at December 31, 2025, up from $7,225,326 in 2021
Taxes receivable is the property tax that has been billed and not yet paid. It was $7,225,326 at the end of 2021 and $13,833,929 at the end of 2025. As a share of the year's levy that is 8% in 2021 and 14% in 2025. The Township says the share has historically been over the 10% industry standard and that staff will work on targets. Penalties and interest on late taxes came in $651,430 above budget in 2025 because of the higher balance.
$63,770,490investments at December 31, 2025, against cash of $6,619,634
Cash fell from $54,474,692 at the end of 2024 to $6,619,634 at the end of 2025, while investments rose from $35,169,250 to $63,770,490. Of the 2025 total, $38,500,000 is held as principal protected notes (bank-issued notes that promise to return the money invested) recorded at fair value, with an unrealized gain of $3,470,490. The Township's own list shows 13 purchases from May 2024 to August 2025. Worked out by us, five of the 13 mature in 2034 or later (the latest in December 2039). The Township says staff "prioritized investment purchases during the year to lock-in high interest rates". It also has an unused $5,000,000 bank credit line.
$9,452,587negative balance in the parks and recreation development charge fund in 2024, per the Township
The Zancor Centre, King's new township-wide recreation centre, opened in 2025. The Township's budget book says the parks and recreation development charge fund (money collected from builders to pay for parks) had a negative balance of $9,452,587 in 2024, and plans $5,000,000 of debt in 2026 to cover the shortfall. In the first year of operations the Township reports that aquatics programs ran at a 30% fill rate against 70% budgeted, a shortfall of $385,206, and that hydro use was $447,237 over budget. On its own operating basis the Township ended 2025 with a $139 thousand deficit. It also reports that RecPass memberships rose from 500 to 1600.