2 yearsof qualified audit opinions (2023 and 2024) for the same unfinished assessment
An audit ends with the auditor's opinion on whether the statements are fair. A qualified opinion means the auditor was happy with the statements except for one named problem. For both 2023 and 2024 the problem is the same: a rule called PS 3280 (asset retirement obligations) came into force on January 1, 2023. It asks a municipality to count what it will legally have to spend to take certain assets out of service, such as removing a building or closing a landfill. The auditors say management has not finished checking which assets are affected, so they could not say how much it changes the expenses, the surplus, the assets or the savings. The Municipality's own note says it "intends to complete an assessment" as part of a facilities review. The 2023 audit was by one firm and the 2024 audit by another, and both reached the same conclusion.
December 10, 2025date the auditor signed the statements for the year ended December 31, 2024
The 2024 consolidated statements were signed by the auditor on December 10, 2025, about eleven months after the year they cover ended (worked out by us). The 2023 statements were signed on December 18, 2024. On October 5, 2026 the Municipality's budget page listed statements for 2022, 2023 and 2024 but we did not find statements for 2025. The 2024 statements say the 2023 audit was done by another auditor.
$9,233,654capital assets acquired in 2024, against a budget of $17,522,770
Capital spending means buying or building things that last, such as roads, bridges and buildings. The 2024 budget planned $17,522,770 for capital assets; the statements show $9,233,654 acquired. The budget also planned to take $4,035,940 out of reserves (savings set aside by Council). Instead $3,868,053 went into them. The reserve fund for capital purposes grew from $18,149,900 to $22,387,671. Two capital-related income lines also came in far below budget: development charges recognized (fees paid by builders for growth, counted when spent) were budgeted at $2,426,570 and came in at $403,228, and government capital transfers were budgeted at $4,119,020 and came in at $3,147,208. The Municipality's statements do not explain the gap in the pages we read.