$95 millionthe Town's share of the overage on the Collingwood plant, per the 2025 audited statements
New Tecumseth is paying for part of a larger water treatment plant in Collingwood, so that the Town has enough water for new homes. The audited 2025 statements say the plant's cost rose from a $121 million budget to a revised $270 million after tenders came in, and that the Town's share of the overage would be $95 million. The 2026 budget book says the plant has "an estimated cost of $120M". The statements say the project is 100% growth related and, if no other outside money is found, would be paid for from development charges (fees builders pay when they build new homes). The Town has published an explanation for part of this: provincial funding of up to $70 million was approved, about 63% of it for New Tecumseth's share, and the Town is still talking to the Province about up to $80 million more.
$6,998,844development charges added to the reserve in 2025, against $21,228,639 expected in the long range plan
Development charges are fees a builder pays the Town when new homes go up. They are meant to pay for roads, water and other things growth needs. The Town's audited statements show that $6,998,844 of development charges was added to the reserve in 2025, down from $15,135,187 the year before, and that the development charge balance fell from $14,549,397 to $7,899,396. The Town's June 2025 long range plan expected collections of $21,228,639 for 2025, then $65,363,094 for 2026 and $154,326,450 for 2029, when more water should be available. The Town has published its own explanation: collections "have trended downward" since 2018 and 2025 collections were "trending lower than the anticipated $21M forecast". The plan also shows the water development charge reserve below zero in every year to 2034, and about $37M of development charge credits still outstanding.
$82,489,267long-term and short-term debt together at the end of 2025, against $59,530,144 a year earlier
The audited statements show long-term debt of $66,412,167 at the end of 2025, up from $52,050,508, and a short-term construction loan of $16,077,100, up from $7,479,636. Schedule 1 puts the two together as "Debt associated with tangible capital assets" of $82,489,267 (2024: $59,530,144), a rise of $22,959,123 worked out by us, about 39%. The cash flow statement shows $20,044,877 of new debentures and $8,597,464 of new short-term loan money in 2025. The budget book says the repayment limit (the share of the Town's own revenue the Province lets it spend on debt payments) will climb to 23% over five years, against a limit of 25%. Separately, Schedule 1 lists "Unfunded short-term debt" of $34,445,538, which is more than twice the $16,077,100 short-term loan described in Note 7. The Town has published part of its explanation: the loan is for the Tottenham transmission main and will be turned into a long-term debenture, and the statements say repayments are within the Ministry's limit.
$14,081,128contributions from developers in 2025, against a budget of $73,104,579
The 2025 statement of operations compares the budget with what actually happened. Budgeted revenue was $165,969,262 and actual revenue was $144,294,333. The biggest gap is "Contributions from developers": $73,104,579 budgeted, $14,081,128 actual. Other lines went the other way: "Donations and contributed assets" were budgeted at $237,578 and came in at $21,239,453, and the "Gain (loss) on sale of tangible capital assets" was budgeted at $295,284 and came in at $9,567,378. The annual surplus was $57,834,395 against a budgeted $76,923,097. The Town has published a general explanation: the budget is prepared on a different basis from the statements, with all capital spending counted as an expense and no amortization, and the statements adjust it. It does not say what was sold or why the developer figure was so much higher.