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by hand, Oct 2026DetailsThis is built from public records, which leave a lot out, and some of it may be wrong or out of date.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 Parry Sound'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 · 10 so far
Things worth asking about
We read Parry Sound's financial reports and meeting minutes, and compared its numbers with 15 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.
March 28, 2025the date of the auditor's report on the year ended December 31, 2023
Audited financial statements are the Town's yearly books, checked by an outside accountant. The 2023 statements carry a clean opinion from BDO Canada LLP, but the auditor's report is dated March 28, 2025. That is about 15 months after the December 31, 2023 year end (worked out by us). When we read the Town's statements page on October 5, 2026, the 2023 statements were the newest posted. We did not find statements for 2024 or 2025.
Found by reading the town's own documents · 3 sources
$3,007,038spent on Planning and Development in 2023, against a budget of $1,198,506
The Town groups its spending into services. The statements show Planning and Development, which covers planning and zoning, economic development and the downtown improvement area, spending $3,007,038 in 2023. The budget for it was $1,198,506. That is about 2.5 times the budget (worked out by us). Every other service came in at or under its budget. Inside the Planning and Development column, the line for "Materials" is $1,903,104. We did not find an explanation in the statements.
Found by reading the town's own documents · 3 sources
$7,200,000of new external debt in the 2023 plan, while long-term debt fell from $18,124,514 to $17,154,034
A capital project is a big, long-lived purchase such as a road, a building or a pipe. The Town's note explaining its 2023 budget shows planned capital expenditures of $12,743,772 and "Proceeds from external debt" of $7,200,000. The statements show the Town's long-term debt falling from $18,124,514 to $17,154,034, and additions to capital assets of $4,907,350. So the borrowing in the plan does not appear to have happened in 2023, and the capital spending was well below the plan.
Found by reading the town's own documents · 3 sources
$2,300,000loaned to the airport in 2023, with 25 years to repay
In 2023 the Town passed a by-law to lend $2,300,000 to the Parry Sound Area Municipal Airport (PSAMA) to finish a runway project. The loan has a 25-year amortization with 5-year terms. The interest rate is set between the rate the Town's bank accounts earn and Scotiabank's composite prime. The Town's statements show the loan and $60,451 of interest owed as part of long-term receivables of $3,038,324. The Town's yearly contribution to the airport commission, listed in note 23, was $10,000.
Found by reading the town's own documents · 3 sources
$1,763,895contributed to the recreation centre in 2023, against $454,324 in 2022
The Town is one of six municipalities behind the West Parry Sound Recreation and Cultural Centre, a joint board planning a new pool and recreation centre. In 2023 the Town made a capital contribution of $1,763,895, up from $454,324 in 2022. After year end it also agreed to a non-interest-bearing loan to buy a property for the Centre at a purchase price of $2,000,000. One note gives the Town's ownership as 25% and another says it has committed to 26.7% of the Centre's yearly contributions. The "Parks and recreation" reserve fell from $3,683,237 to $625,320 in 2023 (a fall of $3,057,917, worked out by us), and a "Pool - Town Only" reserve grew from $153,399 to $378,519 in 2024.
Found by reading the town's own documents · 4 sources
$9,847,048paid to the West Parry Sound Health Centre in 2023 under an agreement that ended December 31, 2020
The Town runs land ambulance for the Parry Sound district and pays the West Parry Sound Health Centre to provide it. The Town's statements say the operating agreement ran from January 1, 2016 to December 31, 2020 and "remains in place until a new contract is negotiated". In 2023 the Town paid the Health Centre $9,847,048 in contract fees, against $9,128,326 in 2022, a rise of 7.9% (worked out by us). That is the largest single payment named in the commitments note.
Found by reading the town's own documents · 2 sources
Parry Sound spent $1.9M on running the town office in 2019 and $2.9M in 2024. Prices only went up about 18% in that time. Only 3 of 15 similar towns had faster growth here.
Found automatically from the town's financial reports · 3 sources
$7,120,473surplus in 2023, against a planned deficit of $716,529
A surplus is what is left when a year's revenue is more than its spending. The 2023 statements show a surplus of $7,120,473 against a planned deficit of $716,529. The Town explains part of this itself: note 26 says the budget was prepared on a different basis from the statements, for example by counting all capital spending as an expense. The gap is also helped by revenue above budget. Revenue from other municipalities was $7,562,817 against $5,306,060, and the Town's note says land ambulance contributions from municipalities were $4,840,777. Investment income was $2,535,390 against a budget of $438,125, in a year when its guaranteed investment certificates paid rates from 1.34% to 5.12%. The general funds part of the accumulated surplus rose from $270,559 to $3,677,440.
Found by reading the town's own documents · 3 sources
$162,592taken out of the Legal-Insurance Claim reserve in 2024
A reserve is money Council sets aside for a purpose. The Town's 2024 reserve report shows the "Legal-Insurance Claim" reserve falling from $213,441 to $50,849, with $162,592 taken out and nothing put in. The reserve report does not say what the money was for. The 2023 statements say that claims are covered by insurance where possible and that management believes the Town has valid defences, without describing any claim.
Found by reading the town's own documents · 2 sources
March 28, 2025the date of the auditor's report on the year ended December 31, 2023
Audited financial statements are the Town's yearly books, checked by an outside accountant. The 2023 statements carry a clean opinion from BDO Canada LLP, but the auditor's report is dated March 28, 2025. That is about 15 months after the December 31, 2023 year end (worked out by us). When we read the Town's statements page on October 5, 2026, the 2023 statements were the newest posted. We did not find statements for 2024 or 2025.
Why it matters
Voters go to the polls on October 26, 2026. Audited statements are the best check on what the Town spent and owns. If the newest ones on the page are for 2023, voters have a three-year-old picture.
It could be because…
The 2023 statements were the first to apply two new accounting rules (asset retirement obligations and financial instruments). Note 2 and note 3 say so, and the prior year was restated. That work can take longer.
The 2024 and 2025 statements may be finished but not yet posted to the page.
The audit firm or the Town's finance staff may have had a heavy workload or staff changes. We did not find an explanation.
Questions you could ask
When will the audited 2024 and 2025 consolidated statements be posted, and before the October 26, 2026 election?
What caused the 2023 audit to be signed in March 2025?
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 Parry Sound?Send us your answer and we will publish it with this question.
The evidence
The auditor's report is signed by BDO Canada LLP, Barrie, Ontario, and dated "March 28, 2025". It says the statements "present fairly, in all material respects" the Town's position at December 31, 2023.
Note 2 says that effective January 1, 2023 the Town adopted the new Asset Retirement Obligations standard, with the prior year restated, and a new Financial Instruments standard.
The Financial Report and Statements page lists consolidated statements for 2023, 2022, 2021, 2020 and 2015 to 2019. We did not find 2024 or 2025 statements there when we read it on October 5, 2026.
$3,007,038spent on Planning and Development in 2023, against a budget of $1,198,506
The Town groups its spending into services. The statements show Planning and Development, which covers planning and zoning, economic development and the downtown improvement area, spending $3,007,038 in 2023. The budget for it was $1,198,506. That is about 2.5 times the budget (worked out by us). Every other service came in at or under its budget. Inside the Planning and Development column, the line for "Materials" is $1,903,104. We did not find an explanation in the statements.
Why it matters
A line that runs far over its budget can mean the budget was wrong, the money came from somewhere unplanned, or a one-time project landed in the wrong line. The statements do not say which.
It could be because…
The budget is built on a different basis from the statements (note 26). A project budgeted as a capital item or in another line could show up here as an expense.
Spending may have been paid for by grants, reserves or deferred revenue received for that purpose, so it did not cost the tax levy.
The Town's planning and economic development work may include one-time programs, such as the facade improvement program, that were funded separately.
Questions you could ask
What projects or programs make up the $1,903,104 of materials in Planning and Development in 2023?
Which of the $3,007,038 was paid by grants or reserves rather than property taxes?
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 Parry Sound?Send us your answer and we will publish it with this question.
Statement of operations, 2023: "Planning and development" expenses, budget 1,198,506, actual 3,007,038 (2022 actual 1,302,824). Total expenses: budget 39,475,405, actual 39,040,202.
Schedule 1, Planning and Development column, 2023: Salaries, wages and benefits 579,786; Materials 1,903,104; Contracted services 358,369; Rents and financial services 15,954; External transfers to others 133,156; Amortization 16,669; total expenses 3,007,038; net deficit (2,122,344).
Note 28 describes the segment: "This department provides general planning and zoning services and review of all property development plans through its application process." It also facilitates commercial and economic development and operates the Business Improvement Area. The note does not explain the 2023 total.
$7,200,000of new external debt in the 2023 plan, while long-term debt fell from $18,124,514 to $17,154,034
A capital project is a big, long-lived purchase such as a road, a building or a pipe. The Town's note explaining its 2023 budget shows planned capital expenditures of $12,743,772 and "Proceeds from external debt" of $7,200,000. The statements show the Town's long-term debt falling from $18,124,514 to $17,154,034, and additions to capital assets of $4,907,350. So the borrowing in the plan does not appear to have happened in 2023, and the capital spending was well below the plan.
Why it matters
Residents are told what projects are planned and how they will be paid for. When a plan counts on borrowing that does not happen, the projects may have been delayed or paid for another way, such as from reserves or grants. That affects future tax rates and debt.
It could be because…
The big projects were delayed into 2024 or later, and the borrowing will come when they are built. Assets under construction rose from $3,679,980 to $5,587,269, so some work was under way.
The Town may have paid for projects from reserves, grants or cash instead of borrowing.
Note 26 says the budget was prepared on a different basis from the statements, so the two lists are not meant to match line for line.
Questions you could ask
Which of the 2023 capital projects planned with the $7,200,000 of debt were delayed, and when will the borrowing happen?
What did the Town do instead in 2023 to pay for the projects it did build?
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 Parry Sound?Send us your answer and we will publish it with this question.
The evidence
Note 26 (Budget) reconciles the Financial Plan to the statements: Capital expenditures 12,743,772; Principal repayments on long-term debt 946,330; Budget transfers to reserves 4,783,150; less Amortization (5,302,387), Capital Grants (2,290,138), Budget transfers from reserves (4,364,077) and Proceeds from external debt (7,200,000). The Financial Plan was adopted by Council on March 28, 2023.
Note 14: long-term debt $17,154,034 at the end of 2023 against $18,124,514 at the end of 2022. Principal repayments over the next five years are 976,256 (2024), 982,549 (2025), 988,381 (2026), 894,743 (2027) and 843,813 (2028).
Note 19: tangible capital assets, additions in 2023 of 4,907,350, of which assets under construction 2,532,347. Assets under construction: 3,679,980 at the start of the year, 5,587,269 at the end.
$2,300,000loaned to the airport in 2023, with 25 years to repay
In 2023 the Town passed a by-law to lend $2,300,000 to the Parry Sound Area Municipal Airport (PSAMA) to finish a runway project. The loan has a 25-year amortization with 5-year terms. The interest rate is set between the rate the Town's bank accounts earn and Scotiabank's composite prime. The Town's statements show the loan and $60,451 of interest owed as part of long-term receivables of $3,038,324. The Town's yearly contribution to the airport commission, listed in note 23, was $10,000.
Why it matters
A loan of $2,300,000 is a large sum for a town of this size, and it is about 230 times the yearly $10,000 contribution (worked out by us). It is repaid only if the airport can pay it back. The statements do not say who else pays for the airport or what happens if it cannot.
It could be because…
The airport may serve the whole district, and a loan at an interest rate set by formula may cost the Town little.
A loan can be repaid with interest, so the Town may come out whole. It also gets money in rather than giving a grant.
The loan may let the airport use grants that need the runway to be finished.
Questions you could ask
What is the interest rate on the airport loan, what has the airport paid so far, and is the loan secured?
Who else funds the airport runway project, and what did the Town's by-law say about repayment if the airport cannot pay?
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 Parry Sound?Send us your answer and we will publish it with this question.
Note 7: "the Town passed a By-Law to loan the Parry Sound Area Municipal Airport (PSAMA) $2,300,000 for the completion of the Runway Project". The loan "has a 25-year amortization with 5-year terms"; "A total of $2,300,000, plus accrued interest of $60,451" is in long-term receivables.
$1,763,895contributed to the recreation centre in 2023, against $454,324 in 2022
The Town is one of six municipalities behind the West Parry Sound Recreation and Cultural Centre, a joint board planning a new pool and recreation centre. In 2023 the Town made a capital contribution of $1,763,895, up from $454,324 in 2022. After year end it also agreed to a non-interest-bearing loan to buy a property for the Centre at a purchase price of $2,000,000. One note gives the Town's ownership as 25% and another says it has committed to 26.7% of the Centre's yearly contributions. The "Parks and recreation" reserve fell from $3,683,237 to $625,320 in 2023 (a fall of $3,057,917, worked out by us), and a "Pool - Town Only" reserve grew from $153,399 to $378,519 in 2024.
Why it matters
A new recreation centre can cost a town many millions over years. Residents pay through taxes, reserves and debt. The two share figures are different, and the statements do not say what the Town's total commitment is.
It could be because…
25% may be the Town's ownership of the board, while 26.7% may be its share of operating and capital contributions. These can differ.
The $2,000,000 loan is non-interest-bearing but may be repaid when the Centre is built, so it is a bridge and not a cost.
The Centre's own cash was $7,152,800 at the end of 2023, so the partners may already have raised much of the early money.
The fall in the parks and recreation reserve may be the Town's planned share of this project.
Questions you could ask
What is the Town's total share of the recreation centre's cost, and how will it be paid for (reserves, debt, taxes)?
Is the Town's share 25% or 26.7%, and which costs does each number apply to?
When is the $2,000,000 property loan to be repaid?
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 Parry Sound?Send us your answer and we will publish it with this question.
The evidence
Note 17: "the Town has committed to 26.7% of the total annual contributions to the operating and capital budgets of the Centre". In 2023 the Town made a capital contribution of $1,763,895 (2022 - $454,324). "Subsequent to year end, the Town entered into a non-interest bearing loan agreement with the Centre to purchase a property, with a purchase price of $2,000,000".
Note 1 lists the "West Parry Sound Recreation and Cultural Centre 25%" as a partnership proportionately consolidated. Note 27: the Centre's cash was $7,152,800 and its accumulated surplus $10,012,276 at December 31, 2023; "The Centre is currently in its design phase."
$9,847,048paid to the West Parry Sound Health Centre in 2023 under an agreement that ended December 31, 2020
The Town runs land ambulance for the Parry Sound district and pays the West Parry Sound Health Centre to provide it. The Town's statements say the operating agreement ran from January 1, 2016 to December 31, 2020 and "remains in place until a new contract is negotiated". In 2023 the Town paid the Health Centre $9,847,048 in contract fees, against $9,128,326 in 2022, a rise of 7.9% (worked out by us). That is the largest single payment named in the commitments note.
Why it matters
Ambulance is a large cost shared by the Town and its neighbours, which contributed $4,840,777 in 2023. A contract that expired years ago has no fixed price or end date.
It could be because…
Talks on a new contract may be under way, and carrying on the old terms in the meantime is common.
The province pays most of the cost, with grants of $6,715,544, so the Town may have little to gain by changing the terms.
The agreement may allow for yearly price changes, which would explain the rise without a new contract.
Questions you could ask
Is a new land ambulance contract being negotiated, and when will Council see it?
How is the yearly fee set while the old agreement stays in place?
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 Parry Sound?Send us your answer and we will publish it with this question.
Note 17: the operating agreement with the West Parry Sound Health Centre "is effective for the period January 1, 2016 to December 31, 2020 and remains in place until a new contract is negotiated". "In the year, the Town paid $9,847,048 (2022 - $9,128,326) in contract fees to the WPSHC."
Note 25: grants from the Ministry of Health and Long-term Care of $6,715,544 (2022 - $6,246,358) and municipal contributions of $4,840,777 (2022 - $4,610,264). Actual expenses before amortization and capital additions were $11,003,454 (2022 - $10,832,933).
Parry Sound spent $1.9M on running the town office in 2019 and $2.9M in 2024. Prices only went up about 18% in that time. Only 3 of 15 similar towns had faster growth here.
Why did the cost of running the town office grow 52% in 5 years?
Running the town office
Prices (inflation)
+0%+20%+40%+60%
+52%
201920202021202220232024
Show as a table
Year
Running the town office
Prices (inflation)
2019
+0%
+0%
2020
+23%
+1%
2021
+17%
+4%
2022
+15%
+11%
2023
+49%
+16%
2024
+52%
+18%
Change since the first year shown. The grey line is how much prices rose overall, for comparison.
Why it matters
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.
It could be because…
The town added a service, a building or staff that residents asked for.
Costs were moved from another area, so the total did not really change.
Accounting rules changed how costs are sorted.
Large one-time costs, like a study, lawsuit or repair, landed in one year.
Questions you could ask
What did the extra $985K a year pay for?
Why did senior management go from $240K to $2.6M?
Was each increase approved by council as a separate decision, or did it happen through the yearly 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 Parry Sound?Send us your answer and we will publish it with this question.
The evidence
Running the town office: 2019 $1.9M, 2020 $2.3M, 2021 $2.2M, 2022 $2.2M, 2023 $2.8M, 2024 $2.9M.
Parry Sound spent about $5,331 per home on long-term debt in 2024. The typical similar town spent $2,368. Only 1 of 15 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 Parry Sound?Send us your answer and we will publish it with this question.
The evidence
Long-term debt per home: Parry Sound $5,331; typical similar town $2,368; ranked 2nd highest of 16.
$7,120,473surplus in 2023, against a planned deficit of $716,529
A surplus is what is left when a year's revenue is more than its spending. The 2023 statements show a surplus of $7,120,473 against a planned deficit of $716,529. The Town explains part of this itself: note 26 says the budget was prepared on a different basis from the statements, for example by counting all capital spending as an expense. The gap is also helped by revenue above budget. Revenue from other municipalities was $7,562,817 against $5,306,060, and the Town's note says land ambulance contributions from municipalities were $4,840,777. Investment income was $2,535,390 against a budget of $438,125, in a year when its guaranteed investment certificates paid rates from 1.34% to 5.12%. The general funds part of the accumulated surplus rose from $270,559 to $3,677,440.
Why it matters
A surplus can mean taxes were higher than needed, or it can be accounting and one-time money. The Town has explained a good part of it, so we rate this a note. The part still open is how much of the $3,406,881 rise in general funds (worked out by us) is free for the Council to use.
It could be because…
The budget and the statements use different accounting, as the Town's note says.
Land ambulance revenue from other municipalities is passed on to the ambulance contractor, so it is not free money.
The Town held about $44 million in cash, and its interest rates ranged up to 5.12%, so higher investment income fits.
Some of the surplus may be one-time grants spent on projects over later years.
Questions you could ask
How much of the 2023 surplus on the Town's budget basis was left over, and what did Council decide to do with it?
Why was investment income budgeted at $438,125 when the Town held about $44 million in cash?
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 Parry Sound?Send us your answer and we will publish it with this question.
The evidence
Statement of operations, 2023: Annual surplus (deficit) budget (716,529), actual 7,120,473 (2022 actual 4,891,557). Revenue from other municipalities budget 5,306,060, actual 7,562,817. Investment income budget 438,125, actual 2,535,390. Total revenue budget 38,758,876, actual 46,160,675.
Note 26: the budget "was prepared on a modified accrual basis" and "expensed all tangible capital expenditures rather than including amortization expense". Note 25: Land Ambulance "municipal contributions in the amount of $4,840,777" and grants from the Ministry of Health and Long-term Care of $6,715,544. Note 5: guaranteed investment certificates at interest rates from 1.34% to 5.12%.
Note 21, accumulated surplus: General funds 3,677,440 at the end of 2023 against 270,559 a year earlier; Investment in tangible capital assets 105,140,796; total accumulated surplus 156,544,781.
$162,592taken out of the Legal-Insurance Claim reserve in 2024
A reserve is money Council sets aside for a purpose. The Town's 2024 reserve report shows the "Legal-Insurance Claim" reserve falling from $213,441 to $50,849, with $162,592 taken out and nothing put in. The reserve report does not say what the money was for. The 2023 statements say that claims are covered by insurance where possible and that management believes the Town has valid defences, without describing any claim.
Why it matters
Voters can see that money was taken out, but not what it paid for. This is a low-key question: the statements describe no specific claim.
It could be because…
The money may have covered an insurance deductible or a routine legal bill.
The reserve may have been meant to be used up this way.
The expense may have been settled and closed already.
Questions you could ask
What was the $162,592 paid from the Legal-Insurance Claim reserve in 2024 used for?
Does the Town plan to top the reserve up, or let it run down?
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 Parry Sound?Send us your answer and we will publish it with this question.
The evidence
Table 1, 2024 year-end reserve balances: "Legal-Insurance Claim" opening balance 213,441, transfers out (162,592), ending balance 50,849. Table 2 projects 50,849 at the end of 2025.
Note 16 says the Town "is subject to claims and other lawsuits that arise in the ordinary course of business" and that "management believes that the Town has valid defences and appropriate and adequate insurance coverage in place." No claim is described.
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