Questions · 7 so far
We read Meaford's financial reports and meeting minutes, and compared its numbers with 93 similar Ontario towns. These are the things that stood out.
These are unusual enough that residents deserve a clear answer from council.
+96%running the town office, 2019 to 2024
Meaford spent $3.1M on running the town office in 2019 and $6.1M in 2024. Prices only went up about 18% in that time. Only 8 of 93 similar towns had faster growth here.
Found automatically from the town's financial reports · 3 sources
There may well be a good reason. It is still worth asking what it is.
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.
Found by reading the town's own documents · 4 sources
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.
Found by reading the town's own documents · 2 sources
$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.
Found by reading the town's own documents · 4 sources
$1,611,451investment income in 2024, against a budget of $200,000
The Municipality holds cash and investments of about $34 million at the end of 2024: $15,513,424 in cash and $18,808,623 in investments, mostly guaranteed investment certificates (GICs, fixed-rate deposits). Interest on them was budgeted at $200,000 for 2024 and came in at $1,611,451, up from $1,048,293 in 2023.
Found by reading the town's own documents · 2 sources
$330,830.81spent on legal fees in the Legal department in 2024, against a budget of $100,000.00
The 2025 budget book shows the Legal department's account for legal fees at $330,830.81 for the previous year (2024), against a budget of $100,000.00. The 2025 budget is $120,000.00. Separately, the TC Energy project department (the Municipality's work on a proposed pumped storage project) spent $127,203.45 on legal fees against a budget of $50,000.00, and plans $360,000.00 for 2025. Together that is $458,034.26 (worked out by us) for 2024 against budgets of $150,000.00 (worked out by us). The budget pages we read do not say what the legal work was.
Found by reading the town's own documents · 2 sources
Background that helps make sense of the rest.
$8 millionalleged damages in a claim naming Meaford as a co-defendant, per the 2024 statements
The notes to both the 2023 and the 2024 statements say the Municipality "has been named as a co-defendant in a claim relating to building code and property matters for alleged damages of an estimated $8 million." The notes say the Municipality's share "is not determinable at this time." The Municipality's total savings and reserves at the end of 2024 were $28,042,583.
Found by reading the town's own documents · 2 sources
+96%running the town office, 2019 to 2024
Meaford spent $3.1M on running the town office in 2019 and $6.1M in 2024. Prices only went up about 18% in that time. Only 8 of 93 similar towns had faster growth here.
| Year | Running the town office | Prices (inflation) |
|---|---|---|
| 2019 | +0% | +0% |
| 2020 | +7% | +1% |
| 2021 | +18% | +4% |
| 2022 | +38% | +11% |
| 2023 | +95% | +16% |
| 2024 | +96% | +18% |
Change since the first year shown. The grey line is how much prices rose overall, for comparison.
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.
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 Meaford? Send us your answer and we will publish it with this question.
Running the town office: 2019 $3.1M, 2020 $3.3M, 2021 $3.7M, 2022 $4.3M, 2023 $6.1M, 2024 $6.1M.
Ontario Financial Information Return (FIR), 2019 to 2024 · Schedule 40 · archived copy
Biggest driver: Senior management, from $2.9M to $5.8M.
Ontario Financial Information Return (FIR), 2019 to 2024 · Schedule 40 · archived copy
Typical growth among similar towns: 46%. Meaford ranks 9th of 94.
Ontario Financial Information Return (FIR), 2024, 93 similar municipalities · Schedule 40 · archived copy
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.
A qualified opinion is a signal that some of the numbers could be off by an amount nobody has measured. The Municipality still carries a landfill liability of $201,730 under the older rule. If the new rule adds a large liability, the surplus and the savings that the 2026 budget relies on would look different.
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 Meaford? Send us your answer and we will publish it with this question.
Independent Auditor's Report on the 2024 statements (MNP LLP), "Qualified Opinion": "except for the possible effects of the matters described in the Basis for Qualified Opinion section". Basis: "Management has not completed its assessment of the tangible capital assets for potential asset retirement obligations. As a result, it is not possible to quantify the impact of this departure from Canadian public sector accounting standards" on expenses, annual surplus, tangible capital assets and accumulated surplus for 2024 and 2023.
Meaford consolidated financial statements, December 31, 2024 · Independent Auditor's Report, PDF page 3
Basis for Qualified Opinion: "Effective January 1, 2023, the Municipality was required to adopt PS 3280 Asset Retirement Obligations which requires the recognition of legal obligations associated with the retirement of tangible capital assets by public sector entities." (PS 3280 is the name of the accounting standard, not an amount.)
Meaford consolidated financial statements, December 31, 2024 · Independent Auditor's Report, Basis for Qualified Opinion, PDF page 3
Summary of Significant Accounting Policies, Asset Retirement Obligation: "Management intends to complete an assessment of the asset retirement obligation as part of the facilities review planned." Note 5: the landfill liability is "recorded at $201,730 (2023 - $201,730)", closed in 1992, estimated remaining monitoring period 17 years.
Meaford consolidated financial statements, December 31, 2024 · Summary of Significant Accounting Policies, PDF page 13; Note 5, PDF page 15
Independent Auditor's Report on the 2023 statements (BDO Canada LLP), "Qualified Opinion", for the same reason: "Management has not completed its assessment of the tangible capital assets for potential asset retirement obligations." Report dated December 18, 2024.
Meaford consolidated financial statements, December 31, 2023 · Independent Auditor's Report, PDF pages 3 and 5
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.
Residents and Council use audited statements to judge how the Municipality did with last year's money. The later they arrive, the less useful they are to a voter before an election on October 26, 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 Meaford? Send us your answer and we will publish it with this question.
Auditor's report on the 2024 statements, signed "Owen Sound, Ontario December 10, 2025" by MNP LLP. "Other Matter": the 2023 statements "were audited by another auditor who expressed a qualified opinion on those statements on December 18, 2024".
Meaford consolidated financial statements, December 31, 2024 · Independent Auditor's Report, PDF pages 4 and 5
Auditor's report on the 2023 statements, signed "Owen Sound, Ontario December 18, 2024" by BDO Canada LLP.
Meaford consolidated financial statements, December 31, 2023 · Independent Auditor's Report, PDF page 5
$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.
Taxpayers pay a capital levy every year. If the work is not done and the money builds up, residents are paying for roads and buildings that arrive later than promised, and cost inflation can erode what the saved money buys.
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 Meaford? Send us your answer and we will publish it with this question.
Statement of Changes in Net Financial Assets, 2024: "Acquisition of tangible capital assets" budget (17,522,770), actual (9,233,654) (2023 actual (6,976,175)).
Meaford consolidated financial statements, December 31, 2024 · Consolidated Statement of Changes in Net Financial Assets, PDF page 8
Note 11, Budgets: "Net transfers (to) from reserves" budget 4,035,940, actual (3,868,053). "Capital acquisitions, disposals and write-down" budget (17,522,770), actual (9,044,013). Note 10: reserve funds, capital purposes 22,387,671 (2023 - 18,149,900).
Meaford consolidated financial statements, December 31, 2024 · Notes 10 and 11, PDF page 22
Note 13, Other Income: "Development charges recognized" budget 2,426,570, actual 403,228. Note 12, Government Transfers: "Total capital transfers" budget 4,119,020, actual 3,147,208.
Meaford consolidated financial statements, December 31, 2024 · Note 12, PDF page 23; Note 13, PDF page 24
Note 18, Commitments: "contracts totaling $5,499,713 for the purchase and repairs of significant capital assets with $1,549,701 remaining to be spent." Note 8: asset under construction, net carrying amount, end of the year, 1,045,344.
Meaford consolidated financial statements, December 31, 2024 · Note 18, PDF page 26; Note 8, PDF page 19
$1,611,451investment income in 2024, against a budget of $200,000
The Municipality holds cash and investments of about $34 million at the end of 2024: $15,513,424 in cash and $18,808,623 in investments, mostly guaranteed investment certificates (GICs, fixed-rate deposits). Interest on them was budgeted at $200,000 for 2024 and came in at $1,611,451, up from $1,048,293 in 2023.
Interest earned above the budget is money the Municipality did not plan to use. If the real figure is likely to stay near $1.5 million, the budget may be asking taxpayers for more than the work needs. If it will fall as interest rates fall, a lower budget figure may reflect that.
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 Meaford? Send us your answer and we will publish it with this question.
Note 13, Other Income: "Investment income" budget 200,000, actual 1,611,451 (2023 actual 1,048,293).
Meaford consolidated financial statements, December 31, 2024 · Note 13, PDF page 24
Statement of Financial Position: cash 15,513,424 and investments 18,808,623. Note 2: guaranteed investment certificates "interest rates of 4.03% to 5.69%, maturity dates January 2025 to November 2025" 15,772,900.
Meaford consolidated financial statements, December 31, 2024 · Statement of Financial Position, PDF page 6; Note 2, PDF page 14
$330,830.81spent on legal fees in the Legal department in 2024, against a budget of $100,000.00
The 2025 budget book shows the Legal department's account for legal fees at $330,830.81 for the previous year (2024), against a budget of $100,000.00. The 2025 budget is $120,000.00. Separately, the TC Energy project department (the Municipality's work on a proposed pumped storage project) spent $127,203.45 on legal fees against a budget of $50,000.00, and plans $360,000.00 for 2025. Together that is $458,034.26 (worked out by us) for 2024 against budgets of $150,000.00 (worked out by us). The budget pages we read do not say what the legal work was.
Legal fees are one of the few costs that can swing a lot in a small municipality. A bill much larger than planned is worth a plain explanation, especially when the 2025 budget does not appear to allow for a repeat of 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 Meaford? Send us your answer and we will publish it with this question.
The records that would answer this can be requested: Legal fees paid in 2024 and 2025, by matter, with wording you can copy.
0508 - Legal, expenses: "Legal Fees - 6050" previous year actual (330,830.81), previous year budget (100,000.00), current year budget (120,000.00). Department total: actual (349,180.81), budget (119,350.00). The table is printed so that labels and rows sit on separate lines; the legal fees row is the one that adds with the payroll charge of (18,350.00) to the (349,180.81) total.
Meaford 2025 Operating & Capital Budget · 0508 - Legal Department Budget, PDF page 33
0694 - TC Energy Project, expenses: "Legal Fees - 6050" previous year actual (127,203.45), previous year budget (50,000.00), current year budget (360,000.00).
Meaford 2025 Operating & Capital Budget · 0694 - TC Energy Project Department Budget, PDF page 22
$8 millionalleged damages in a claim naming Meaford as a co-defendant, per the 2024 statements
The notes to both the 2023 and the 2024 statements say the Municipality "has been named as a co-defendant in a claim relating to building code and property matters for alleged damages of an estimated $8 million." The notes say the Municipality's share "is not determinable at this time." The Municipality's total savings and reserves at the end of 2024 were $28,042,583.
A claim of this size would matter to the budget if it went badly, even if the Municipality is one of several defendants and has insurance. Two years of the same note, with no change in wording, means residents have no update 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 Meaford? Send us your answer and we will publish it with this question.
Note 19, Contingent Liabilities (b): "The municipality has been named as a co-defendant in a claim relating to building code and property matters for alleged damages of an estimated $8 million. The municipality's liability with respect to this action is not determinable at this time." Note 10: reserves and reserve funds 28,042,583.
Meaford consolidated financial statements, December 31, 2024 · Note 19, PDF page 26; Note 10, PDF page 22
Note 20, Contingent Liabilities (b) in the 2023 statements uses the same wording: "co-defendant in a claim relating to building code and property matters for alleged damages of an estimated $8 million."
Meaford consolidated financial statements, December 31, 2023 · Note 20, PDF page 26