Questions · 8 so far
We read Spanish's financial reports and meeting minutes, and compared its numbers with 24 similar Ontario towns. These are the things that stood out.
These are unusual enough that residents deserve a clear answer from council.
$205Kowed in unpaid property tax, end of 2025
At the end of 2025, $205K of property tax had been billed but not paid. That is 22% of everything billed. Only 1 of 24 similar towns had a higher share. A year earlier it was $160K.
Found automatically from the town's financial reports · 2 sources
There may well be a good reason. It is still worth asking what it is.
$332,627landfill closure and post-closure liability at December 31, 2025, up from $207,779 at the start of 2024
The Town's landfill has about seven years of use left. The Town now books what it expects closing and watching the site afterward will cost, and that number has grown each year. The statements say it is still to be recovered from taxes and user charges, and the Town's cash at the end of 2025 was about three times that amount.
Found by reading the town's own documents · 4 sources
$321,136net financial assets at December 31, 2025, down from $1,207,623 at the end of 2023
Net financial assets is what a town owns in cash and money owed to it, less what it owes. It was $1,207,623 at the end of 2023, $508,277 at the end of 2024 and $321,136 at the end of 2025. Cash fell over the same period. The Town spent heavily on capital projects in 2024 and 2025.
Found by reading the town's own documents · 4 sources
$205,361owed to the Town in taxes, interest and penalties at December 31, 2025, up from $160,413 a year earlier (about 28% more, worked out by us)
The amount owed to the Town in unpaid taxes, interest and penalties was $153,164 at the end of 2023, $160,413 at the end of 2024 and $205,361 at the end of 2025. The statements say the Town sets aside no allowance for amounts it may not collect.
Found by reading the town's own documents · 3 sources
24 of 28minutes files we downloaded (June 25, 2025 to September 16, 2026) had no text in them, by our count
Council's July 2, 2026 agenda lists the proposed tax rates, the changes made to the operating budget, the capital funding and a treasurer's report. The agenda file on the Town's site is two pages long and includes none of those reports. The Treasury page links only the 2025 and 2024 financial statements. We did not find a 2026 budget on the pages we read. Most minutes posted for 2025 and 2026 are pictures of pages with no readable text.
Found by reading the town's own documents · 2 sources
Background that helps make sense of the rest.
$(282,478)annual deficit for 2025 in the audited statements, against a budgeted surplus of $94,204
The 2025 statements show an annual deficit of $282,478 against a budgeted surplus of $94,204. The Town's own budget note explains the main reason: the budget leaves out amortization (the yearly wear on buildings, roads and pipes), which the audited statements include. Taking amortization of $524,652 out of spending gives $2,241,804 (worked out by us), below the $2,294,308 budget.
Found by reading the town's own documents · 3 sources
$37,391gap between Note 5 ($358,527) and the statement ($321,136), worked out by us
Note 5 breaks down net assets at the end of 2025 as $358,527. The statement of financial position shows net financial assets of $321,136 for the same date. The two differ by $37,391 (worked out by us). For 2024, both show $508,277.
Found by reading the town's own documents · 2 sources
July 15, 2026date of the auditors' report on the 2025 statements
The auditors signed the 2024 statements on November 19, 2025 and the 2025 statements on July 15, 2026. Council accepted the 2025 statements at its July 15, 2026 meeting, according to the draft minutes. Both opinions are clean.
Found by reading the town's own documents · 3 sources
$205Kowed in unpaid property tax, end of 2025
At the end of 2025, $205K of property tax had been billed but not paid. That is 22% of everything billed. Only 1 of 24 similar towns had a higher share. A year earlier it was $160K.
| Year | Unpaid property tax at year end |
|---|---|
| 2019 | $163K |
| 2020 | $140K |
| 2021 | $162K |
| 2022 | $213K |
| 2023 | $153K |
| 2024 | $160K |
| 2025 | $205K |
When taxes go unpaid, everyone else carries the cost, and the town may borrow to cover the gap. The Province's financial indicators treat 10% to 15% as a moderate risk and more than 15% as a high risk. Collection is the town's job, so a rising number is worth asking about.
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 Spanish? Send us your answer and we will publish it with this question.
Taxes receivable: 2019 $163K, 2020 $140K, 2021 $162K, 2022 $213K, 2023 $153K, 2024 $160K, 2025 $205K. Of the 2025 total, $90,139 was from earlier years.
Ontario Financial Information Return (FIR), 2019 to 2025 · Schedule 70, lines 0610 to 0699 · archived copy
Typical among similar towns: 9.4% of taxes billed.
Ontario Financial Information Return (FIR), 2025, 24 similar municipalities · Schedules 26 and 70 · archived copy
$332,627landfill closure and post-closure liability at December 31, 2025, up from $207,779 at the start of 2024
The Town's landfill has about seven years of use left. The Town now books what it expects closing and watching the site afterward will cost, and that number has grown each year. The statements say it is still to be recovered from taxes and user charges, and the Town's cash at the end of 2025 was about three times that amount.
A landfill has to be capped and monitored for years after it closes. A small town with eight employees and a small tax base has to plan early, or a large bill lands on a few ratepayers at once.
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 Spanish? Send us your answer and we will publish it with this question.
Note 4: "As at December 31, 2025, the landfill had an estimated remaining useful life of 7 years."
2025 Consolidated Financial Statements · Note 4, Asset Retirement Obligation, PDF page 13
Note 4 reconciliation of the liability: Opening balance $ 280,791 $ 207,779; Change in estimate 38,002 64,378; Accretion expense 13,834 8,634; Closing balance $ 332,627 $ 280,791 (2025, then 2024).
2025 Consolidated Financial Statements · Note 4, PDF page 13
Note 5 lists "Landfill site closure and post-closure liabilities" of 332,627 (2025) and 280,791 (2024) under amounts "to be recovered from taxation and user charges".
2025 Consolidated Financial Statements · Note 5, Net Assets, PDF page 13
Statement of financial position: "Cash and temporary investments" $ 992,145 at December 31, 2025.
2025 Consolidated Financial Statements · Statement of financial position, PDF page 4
$321,136net financial assets at December 31, 2025, down from $1,207,623 at the end of 2023
Net financial assets is what a town owns in cash and money owed to it, less what it owes. It was $1,207,623 at the end of 2023, $508,277 at the end of 2024 and $321,136 at the end of 2025. Cash fell over the same period. The Town spent heavily on capital projects in 2024 and 2025.
A shrinking cushion leaves less room for surprises such as a repair, a grant that is not renewed, or the landfill closure cost.
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 Spanish? Send us your answer and we will publish it with this question.
Statement of changes in net financial assets: "Net Financial Assets, end of Year" $ (498,136) $ 321,136 $ 508,277 (budget, 2025, 2024).
2025 Consolidated Financial Statements · Statement of changes in net financial assets, PDF page 6
Statement of changes in net financial assets: "Net Financial Assets, end of Year" $ 82,143 $ 508,277 $ 1,207,623 (budget, 2024, 2023).
2024 Consolidated Financial Statements · Statement of changes in net financial assets, PDF page 6
Statement of cash flows: "Cash and cash equivalents, beginning of year" 1,063,564 (2025) and 1,729,442 (2024); "Acquisition of tangible capital assets" (444,393) in 2025 and (1,428,269) in 2024.
2025 Consolidated Financial Statements · Statement of cash flows, PDF page 7
Note 3, deferred revenue and obligatory reserve funds: "Contributions used" (66,564) in 2025 and (768,777) in 2024.
2025 Consolidated Financial Statements · Note 3, PDF page 12
$205,361owed to the Town in taxes, interest and penalties at December 31, 2025, up from $160,413 a year earlier (about 28% more, worked out by us)
The amount owed to the Town in unpaid taxes, interest and penalties was $153,164 at the end of 2023, $160,413 at the end of 2024 and $205,361 at the end of 2025. The statements say the Town sets aside no allowance for amounts it may not collect.
Unpaid taxes are money the Town has already counted on. If the amount keeps growing, either more people are struggling to pay or collection is slowing, and the Town has no cushion for losses.
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 Spanish? Send us your answer and we will publish it with this question.
Note 2: "Taxes receivable" $ 168,211 (2025) and $ 137,355 (2024); "Interest and penalty receivable on outstanding tax balances" 37,150 and 23,058; total $ 205,361 and $ 160,413.
2025 Consolidated Financial Statements · Note 2, Taxes Receivable, PDF page 12
Statement of financial position: "Taxes receivable (note 2)" 160,413 (2024) and 153,164 (2023).
2024 Consolidated Financial Statements · Statement of financial position, PDF page 4
Note 14: "The Town has no allowance for doubtful accounts with respect to its accounts receivable."
2025 Consolidated Financial Statements · Note 14, Financial Instruments, PDF page 21
24 of 28minutes files we downloaded (June 25, 2025 to September 16, 2026) had no text in them, by our count
Council's July 2, 2026 agenda lists the proposed tax rates, the changes made to the operating budget, the capital funding and a treasurer's report. The agenda file on the Town's site is two pages long and includes none of those reports. The Treasury page links only the 2025 and 2024 financial statements. We did not find a 2026 budget on the pages we read. Most minutes posted for 2025 and 2026 are pictures of pages with no readable text.
The budget is where council decides how much to tax and what to spend. Residents can only check it, or compare it with the audited results, if they can read 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 Spanish? Send us your answer and we will publish it with this question.
Item 8e of the July 2, 2026 agenda lists: "2026 Proposed Tax Rates"; "Changes Made to Operating Budget Since June 24, 2026"; "2026 Budget Operating Costs - Expenditures and Revenues Compared to Previous Years"; "2026 Proposed Capital Funding"; and "Treasurer's Report, re: O. Reg 284/09". The posted file is two pages long and holds the agenda list only.
Council agenda, July 2, 2026 · Item 8e, PDF pages 1 to 2
The Treasury page links "Town of Spanish 2025 Financial Statement", "Town of Spanish 2024 Financial Statement" and a heading "2024 Tax Rates". It does not link a budget.
Town of Spanish, Treasury page · Treasury page, top section
$(282,478)annual deficit for 2025 in the audited statements, against a budgeted surplus of $94,204
The 2025 statements show an annual deficit of $282,478 against a budgeted surplus of $94,204. The Town's own budget note explains the main reason: the budget leaves out amortization (the yearly wear on buildings, roads and pipes), which the audited statements include. Taking amortization of $524,652 out of spending gives $2,241,804 (worked out by us), below the $2,294,308 budget.
It shows why a headline deficit in a small town's audited statements does not always mean overspending. We note it so readers do not misread the figure.
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 Spanish? Send us your answer and we will publish it with this question.
Statement of operations: "TOTAL EXPENDITURES" 2,294,308 (budget) 2,766,456 (2025) 2,916,571 (2024); "ANNUAL SURPLUS" 94,204 (282,478) 207,370.
2025 Consolidated Financial Statements · Statement of operations, PDF page 5
Note 6, Budget Reconciliation: "Plus: Budgeted amortization expense NIL NIL"; "Budget per Consolidated Statement of Operations $ 2,388,512 $ 2,294,308".
2025 Consolidated Financial Statements · Note 6, PDF page 14
Statement of cash flows: "Annual amortization" 524,652 (2025) and 512,318 (2024).
2025 Consolidated Financial Statements · Statement of cash flows, PDF page 7
$37,391gap between Note 5 ($358,527) and the statement ($321,136), worked out by us
Note 5 breaks down net assets at the end of 2025 as $358,527. The statement of financial position shows net financial assets of $321,136 for the same date. The two differ by $37,391 (worked out by us). For 2024, both show $508,277.
A note should add up to the number it explains. A gap this size is small, but readers cannot tell which figure is right from the documents alone.
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Spanish? Send us your answer and we will publish it with this question.
Statement of financial position: "NET FINANCIAL ASSETS (note 5)" 321,136 (2025) and 508,277 (2024).
2025 Consolidated Financial Statements · Statement of financial position, PDF page 4
Note 5, Net Assets, total line: "$ 358,527 $ 508,277" (2025, 2024), made up of $(1,252,516), 332,627, 7,076 and 1,271,340 for 2025.
2025 Consolidated Financial Statements · Note 5, PDF page 13
July 15, 2026date of the auditors' report on the 2025 statements
The auditors signed the 2024 statements on November 19, 2025 and the 2025 statements on July 15, 2026. Council accepted the 2025 statements at its July 15, 2026 meeting, according to the draft minutes. Both opinions are clean.
Residents see the audited results months after the year ends. A known target date lets them judge whether it is slipping.
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 Spanish? Send us your answer and we will publish it with this question.
Auditors' report on the 2025 statements: "present fairly, in all material respects"; dated "July 15, 2026".
2025 Consolidated Financial Statements · Independent Auditors' Report, PDF pages 2 to 3
Auditors' report on the 2024 statements: dated "November 19, 2025".
2024 Consolidated Financial Statements · Independent Auditors' Report, PDF page 3
Draft minutes of July 15, 2026: "the 2025 Financial Statements for the Town of Spanish be accepted as presented."
Council draft minutes, July 15, 2026 · Delegations, PDF page 2