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by hand, Oct 2026DetailsThis is built from public records, which leave a lot out, and some of it may be wrong or out of date.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 Marathon'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 Marathon's financial reports and meeting minutes, and compared its numbers with 9 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.
$3,639,801recorded for recreation and cultural services in 2025, against $7,105,193 in the budget column
The budget column in the 2025 statements shows $7,105,193 for recreation and cultural services (parks, the recreation complex and the library). The Town recorded $3,639,801. That is $3,465,392 less than planned, worked out by us. The same service cost $4,648,760 in 2024. The plan and the actual both include amortization (the yearly wearing-out of buildings), so the gap is not an accounting difference of that kind.
Found by reading the town's own documents · 4 sources
$6,598,599spent on capital assets in 2025, against $4,203,148 planned
The Town bought or built $6,598,599 of capital assets in 2025 against $4,203,148 in the budget column, which is $2,395,451 more (worked out by us). Schedule 1 shows $2,548,896 of debt proceeds "received subsequently" and $2,129,723 of capital spending not yet financed. The result is a general fund balance of $(2,026,835), meaning a shortfall to be covered later.
Found by reading the town's own documents · 3 sources
$15,190,299net financial debt at December 31, 2025, up from $11,724,193 a year earlier
Net financial debt (what the Town owes minus its financial assets such as cash and investments) grew from $11,724,193 to $15,190,299 in 2025. Debt on the books is $20,174,111. Interest charges on debt rose from $639,467 to $755,063. Two bank loans are amortized over 25 and 30 years but mature, and so must be renewed, in July 2027 and September 2028.
Found by reading the town's own documents · 3 sources
$3,802,646owed in accounts payable and accrued liabilities at December 31, 2025, up from $1,760,926
Accounts payable and accrued liabilities (bills received or owed but not yet paid) rose from $1,760,926 to $3,802,646. Cash was $2,237,462. The Town says all of these are expected to be paid within the next year.
Found by reading the town's own documents · 2 sources
$380,721the amount the note gives for the general fund without the transfers, against $(2,026,835) printed in the table
Schedule 1 prints a general fund balance of $(2,026,835). A note under it says that after year end Council authorized transfers of $287,000 and $93,721 to reserves, and that without them the balance "would have been $380,721". Those two transfers add up to $380,721 (worked out by us), so the note's number is the size of the transfers, and it does not match the balance printed above it.
Found by reading the town's own documents · 1 source
$4,494,741left in the water and sewer reserve fund at December 31, 2025, down from $5,467,044
Reserve funds (money set aside for later use) fell from $5,722,181 to $4,810,394. In 2025 $1,525,012 was moved from reserve funds to operations, after none in 2024. The water and sewer fund fell from $5,467,044 to $4,494,741. The reconciliation of the budget shows "Use of reserves" of $1,490,679 planned, so the use itself was planned.
Found by reading the town's own documents · 3 sources
$1,806,042from the Government of Canada in 2025, against $280,688 in 2024
Money from the Government of Canada recorded as revenue jumped from $280,688 to $1,806,042. The Town explains why in its notes: it records some federal money as revenue only when it is spent, and spending of Canada Community Building Fund money went from $23,405 to $1,067,670. The stored-up grant money (deferred revenue) fell from $2,074,530 to $735,687, so less is waiting to be used.
Found by reading the town's own documents · 2 sources
In 2019, Marathon had $6.8M more in cash and money owed to it than it owed to others. By 2025 it was −$15.2M. About 3% of that change ($686K) 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 0 of 9 similar towns are in a weaker position.
Found automatically from the town's financial reports · 2 sources
$3,639,801recorded for recreation and cultural services in 2025, against $7,105,193 in the budget column
The budget column in the 2025 statements shows $7,105,193 for recreation and cultural services (parks, the recreation complex and the library). The Town recorded $3,639,801. That is $3,465,392 less than planned, worked out by us. The same service cost $4,648,760 in 2024. The plan and the actual both include amortization (the yearly wearing-out of buildings), so the gap is not an accounting difference of that kind.
Why it matters
Recreation and culture is the largest line in the budget column ($7,105,193, against $3,225,665 for the next, transportation). A plan that is far off in either direction makes it harder for residents to judge what a budget promises. A gap this large is worth an explanation, and it is not a sign that money was overspent.
It could be because…
Projects planned in 2025 were delayed, or were counted as capital (building assets) rather than as expenses.
The budget put money into this line for work that, once done, was recorded as a purchase of a capital asset instead.
Materials spending fell from $2,861,446 to $2,016,010 and staff costs fell from $1,388,547 to $1,176,116, which may reflect a closure, a one-time 2024 cost or a change in programs.
Questions you could ask
What made up the $6,752,259 approved for recreation and cultural services, and which parts were not spent in 2025?
Were any of those projects carried into 2026, and where are they in the 2026 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 Marathon?Send us your answer and we will publish it with this question.
Note 13 reconciles the budget. Recreation and cultural services: Approved Fiscal Plan 6,752,259, PSAS Adjustments 352,934, Fiscal Plan per Financial Statements 7,105,193. The adjustment column adds amortization to every service line (total 2,435,303).
Statement of operations, Expenditures: "Transportation services 3,225,665 3,311,675 2,919,621" (Budget, 2025, 2024); the other budget lines are all below it except "Recreation and cultural services 7,105,193".
$6,598,599spent on capital assets in 2025, against $4,203,148 planned
The Town bought or built $6,598,599 of capital assets in 2025 against $4,203,148 in the budget column, which is $2,395,451 more (worked out by us). Schedule 1 shows $2,548,896 of debt proceeds "received subsequently" and $2,129,723 of capital spending not yet financed. The result is a general fund balance of $(2,026,835), meaning a shortfall to be covered later.
Why it matters
Building before the financing is in hand is common, but it leaves a gap that has to be covered by borrowing, grants or reserves. Residents can ask how large the gap is and how it will be covered.
It could be because…
Work on a large project, such as the Active Living Centre or the wastewater plant, moved faster than planned, with a loan or grant to follow.
Debt was approved but the lender had not yet advanced the money at December 31.
Grants expected for the work had not yet arrived.
Questions you could ask
Which projects account for the $2,395,451 above plan, and did Council approve the extra spending?
How and when will the $2,548,896 of debt and the unfinanced capital outlay be covered?
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 Marathon?Send us your answer and we will publish it with this question.
Schedule 1, note under the table: General Fund consists of Capital Fund 419,173; Debt proceeds received subsequently (2,548,896); Unexpended capital financing (unfinanced capital outlay) (2,129,723); total (2,026,835), against 71,525 in 2024.
$15,190,299net financial debt at December 31, 2025, up from $11,724,193 a year earlier
Net financial debt (what the Town owes minus its financial assets such as cash and investments) grew from $11,724,193 to $15,190,299 in 2025. Debt on the books is $20,174,111. Interest charges on debt rose from $639,467 to $755,063. Two bank loans are amortized over 25 and 30 years but mature, and so must be renewed, in July 2027 and September 2028.
Why it matters
When a loan matures before it is paid off, the Town must renew it at whatever rate is then on offer. Net debt that keeps growing means a larger share of future taxes and fees goes to interest.
It could be because…
Borrowing is spread over assets that will last decades, such as a recreation centre and water systems, which is a normal way to pay for them.
The Town may plan to renew at similar terms, as the note's own wording on future payments assumes.
Part of the debt is carried by the seniors housing corporation the Town controls, which collects rents.
Questions you could ask
What is the Town's plan to repay or renew the two loans that mature in 2027 and 2028?
What further borrowing is planned for 2026, and how much room is left under the provincial repayment limit?
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 Marathon?Send us your answer and we will publish it with this question.
The evidence
Net financial debt (15,190,299), 2024 (11,724,193). Debt 20,174,111, 2024 19,179,133.
Note 9: the Active Living Centre loan is "amortized over a 25-year period ending July 25, 2045, repayable in monthly payments of $16,336 including interest at 3.840% maturing July 2027" (3,115,608). The MSSHC loan is amortized over 30 years, "maturing September 30, 2028" (6,188,310). Total interest charges for the debt are $755,063 [2024 - $639,467].
Future principal payments "assuming refinancing at similar terms and conditions": 2026 739,048; 2027 768,355; 2028 798,862; 2029 830,613; 2030 863,668; Thereafter 16,587,218; total 20,587,764.
$3,802,646owed in accounts payable and accrued liabilities at December 31, 2025, up from $1,760,926
Accounts payable and accrued liabilities (bills received or owed but not yet paid) rose from $1,760,926 to $3,802,646. Cash was $2,237,462. The Town says all of these are expected to be paid within the next year.
Why it matters
A jump in unpaid bills at year end can be ordinary timing. It can also mean spending ran ahead of cash, which matters when the general fund is already in deficit.
It could be because…
Large capital invoices arrived near December 31 and were paid in January.
The extra capital work this year (see the question on capital spending) produced bills ahead of the loan money.
A one-time accrual, such as a holdback owed on a construction contract.
Questions you could ask
What makes up the $3,802,646, and how much of it is for capital work?
How much of it had been paid by the end of January 2026?
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 Marathon?Send us your answer and we will publish it with this question.
The evidence
Accounts payable and accrued liabilities 3,802,646 (2024: 1,760,926). Cash and cash equivalents 2,237,462 (2024: 2,321,518). Investments 6,572,865 (2024: 7,947,406).
"All accounts payable are expected to be paid within the next year." The cash flow statement shows an increase in accounts payable and accrued liabilities of 2,041,720.
Marathon spent about $12,306 per home on long-term debt in 2025. The typical similar town spent $963. None of the 9 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 Marathon?Send us your answer and we will publish it with this question.
The evidence
Long-term debt per home: Marathon $12,306; typical similar town $963; ranked 1st highest of 10.
$380,721the amount the note gives for the general fund without the transfers, against $(2,026,835) printed in the table
Schedule 1 prints a general fund balance of $(2,026,835). A note under it says that after year end Council authorized transfers of $287,000 and $93,721 to reserves, and that without them the balance "would have been $380,721". Those two transfers add up to $380,721 (worked out by us), so the note's number is the size of the transfers, and it does not match the balance printed above it.
Why it matters
Residents rely on the notes to understand the main table. A note that does not match the table is worth a short clarification, and may be a leftover sentence from an earlier draft.
It could be because…
A sentence kept from a draft that showed a different balance.
The note describes a different measure of the general fund that the statements do not define.
Questions you could ask
Is the $380,721 in the note correct, and if so, how does it relate to the printed balance of $(2,026,835)?
Where did the money for the two transfers come from, if the general fund is in deficit?
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 Marathon?Send us your answer and we will publish it with this question.
The evidence
"Subsequent to year-end, Council authorized a transfer of $287,000 to the reserve for the acquistion of capital assets and a transfer of $93,721 to the reserve for working capital. Had the transfers not been made, the balance of the general fund surplus would have been $380,721." The same page prints the general fund total as (2,026,835).
$4,494,741left in the water and sewer reserve fund at December 31, 2025, down from $5,467,044
Reserve funds (money set aside for later use) fell from $5,722,181 to $4,810,394. In 2025 $1,525,012 was moved from reserve funds to operations, after none in 2024. The water and sewer fund fell from $5,467,044 to $4,494,741. The reconciliation of the budget shows "Use of reserves" of $1,490,679 planned, so the use itself was planned.
Why it matters
Reserves are the Town's cushion for repairs and big water and sewer jobs. Drawing them down is allowed and was planned. The question is how long the fund can keep covering costs.
It could be because…
The fund was set aside for exactly this kind of work, and Council planned to use it.
Timing: money drawn in 2025 may be repaid from grants or debt proceeds that arrived after year end.
Questions you could ask
What was the reserve money used for in 2025, and what does the Town plan to take from the water and sewer fund in 2026?
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 Marathon?Send us your answer and we will publish it with this question.
The evidence
Reserve funds: Interest earned 269,977; Contributions to reserve funds 343,248; Contributions to operations (1,525,012) [2024: nil]; Balance of Reserve Funds, end of year 4,810,394, beginning 5,722,181.
$1,806,042from the Government of Canada in 2025, against $280,688 in 2024
Money from the Government of Canada recorded as revenue jumped from $280,688 to $1,806,042. The Town explains why in its notes: it records some federal money as revenue only when it is spent, and spending of Canada Community Building Fund money went from $23,405 to $1,067,670. The stored-up grant money (deferred revenue) fell from $2,074,530 to $735,687, so less is waiting to be used.
Why it matters
This helps explain why 2025 ended with a surplus of $520,331 after a deficit of $2,888,706 in 2024. A surplus built on stored-up grants does not repeat unless more grants arrive.
It could be because…
Ordinary timing: grants were received in earlier years and spent on projects in 2025, as the Town's accounting policy describes.
New federal programs are expected in 2026 that will replace the money that was used.
Questions you could ask
Which projects used the 2025 federal money, and how much remains committed for 2026?
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 Marathon?Send us your answer and we will publish it with this question.
The evidence
Government of Canada 1,806,042 (2024: 280,688); Province of Ontario 2,583,944 (2024: 2,216,360). Annual operating surplus (deficit) 520,331 (2024: (2,888,706)).
Deferred revenue: Unearned Canada Community Building Fund proceeds 279,731 (2024: 1,104,149); CMHC Housing Accelerator Fund 1,709 (2024: 237,687); total 735,687 (2024: 2,074,530). Canada Community Building Fund proceeds utilized (1,067,670) [2024: (23,405)].
In 2019, Marathon had $6.8M more in cash and money owed to it than it owed to others. By 2025 it was −$15.2M. About 3% of that change ($686K) 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 0 of 9 similar towns are in a weaker position.
Marathon went from having money in the bank to owing more than it has. What changed?
−$20M−$10M$0$10M
−$15.2M
2019202020212022202320242025
Show as a table
Year
Net financial position
2019
$6.8M
2020
$8.3M
2021
$7.1M
2022
$1.0M
2023
−$6.5M
2024
−$11.7M
2025
−$15.2M
Why it matters
This number is one of the clearest signs of whether a town is living within its means. The accounting-rule part is a bill that will come due when the landfill closes, not money already spent. The rest is real borrowing and spending of savings.
It could be because…
A new accounting rule (asset retirement obligations, from 2023) added a large future cost to the books all at once.
Borrowing for a planned project, such as sewage lagoons, which is paid back over many years.
Questions you could ask
What is the plan and timeline for paying the landfill closing cost?
Without the accounting change, is the town's position getting better or worse?
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 Marathon?Send us your answer and we will publish it with this question.
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