Questions · 11 so far
We read Wellesley's financial reports and meeting minutes, and compared its numbers with 92 similar Ontario towns. These are the things that stood out.
These are unusual enough that residents deserve a clear answer from council.
$127per home on council, 2024
Wellesley spent about $127 per home on council in 2024. The typical similar town spent $51. Only 8 of 92 similar towns spent more.
Found automatically from the town's financial reports · 1 source
There may well be a good reason. It is still worth asking what it is.
$1,658,382spent on capital assets in 2025, against a budget of $2,864,820
Capital spending is money for roads, buildings and equipment that last many years. A reserve is money the Township sets aside for later. The 2025 budget planned $2,864,820 of capital work, all paid from reserves. The audited statements show $1,658,382 spent on tangible capital assets (a figure that is 58% of the budget, worked out by us). Over the same year the reserves on the Township's books rose from $6,576,447 to $7,988,508 (a rise of $1,412,061, worked out by us). The 2026 budget again says all capital spending will be paid from reserves.
Found by reading the town's own documents · 5 sources
$1,668,711annual surplus in 2025, of which $2,539,475 was money for capital projects
The Township's 2025 budget planned for no surplus. The audited statements show an annual surplus of $1,668,711. But the same statements show $2,539,475 of "grants and transfers related to capital": money that can only be spent on building and fixing things. Without it, the year would have been a shortfall of $870,764 (worked out by us). In 2024 the same sum was worked out by us as a shortfall of $1,229,173 (a surplus of $5,970,002 less $7,199,175 of capital grants and gifts). One large cost in the statements is amortization, which is the yearly share of what the Township's buildings and roads are said to lose in value. It was $3,361,643 in 2025 and is not a cash payment.
Found by reading the town's own documents · 3 sources
$708,184left in the tax rate stabilization reserve at the end of 2025, against a $277K draw in the 2026 budget
A tax-rate stabilization reserve is a savings account that lets a town smooth out tax increases. The balance fell from $858,021 at the end of 2023 to $795,019 at the end of 2024 and $708,184 at the end of 2025. The 2026 budget slides say general revenue includes a "$277K Tax Rate Stabilization draw". The 2025 slides listed the same $277K but called it a "Reserve Contribution". At $277,000 a year, the $708,184 balance would last about two and a half years (worked out by us).
Found by reading the town's own documents · 4 sources
$1,015,653operating fund deficiency to be recovered in future years, end of 2025
The audited statements list, among the pieces that make up the Township's accumulated surplus, a negative line called "Operating fund deficiency to be recovered in future years": $1,015,653 at the end of 2025 and $2,342,233 at the end of 2024. The notes do not say what it is made of or when it will be recovered. In the 2024 statements the same pieces were shown differently: a single line of $12,926,233 called "Operating fund deficiency", which also covered the Township's long-term debt (worked out by us: $10,584,000 plus $2,342,233).
Found by reading the town's own documents · 3 sources
$5,567,472spent on salaries, wages and benefits in 2025, up from $5,051,646 in 2024
Salaries, wages and employee benefits were $5,567,472 in 2025, against $5,051,646 in 2024 and $4,583,037 in 2023. That is a rise of 10.2% in 2025 and 21.5% over two years (both worked out by us). The Township paid into the OMERS pension plan for 63 staff in 2025 (60 in 2024). Its pension contribution rose from $290,175 to $347,337 (worked out by us: 19.7%).
Found by reading the town's own documents · 3 sources
$5,136,661owed to the Township at the end of 2025, up from $1,935,154 two years earlier
Accounts receivable is money other people or governments owe the Township. It was $1,935,154 at the end of 2023, $3,954,511 at the end of 2024 and $5,136,661 at the end of 2025. That is more than two and a half times the 2023 balance (worked out by us). The cash-flow statement shows the Township had $1,182,150 less cash in 2025 because of this rise.
Found by reading the town's own documents · 3 sources
+75%parks, arena and library, 2019 to 2024
Wellesley spent $1.5M on parks, arena and library in 2019 and $2.6M in 2024. Prices only went up about 18% in that time. Only 13 of 92 similar towns had faster growth here.
Found automatically from the town's financial reports · 3 sources
$3,085per home on long-term debt, 2024
Wellesley spent about $3,085 per home on long-term debt in 2024. The typical similar town spent $1,237. Only 13 of 92 similar towns spent more.
Found automatically from the town's financial reports · 1 source
Background that helps make sense of the rest.
$4,801,244transportation cost in 2025, against a budget column of $3,839,659
The statements compare each service's actual 2025 cost with a budget. For transportation (roads, bridges and the roads crew) the budget column shows $3,839,659 and the actual cost $4,801,244. The gap of $961,585 is worked out by us. The Township's explanation is not in a note, but the numbers point to a likely reason. Its budget slides show the same $3,839,659 for public works, and the budget also lists $2,401,962 for reserves and $935,582 for debt repayments as spending. The statements' actual costs include amortization ($1,889,930 for transportation). The two sets of numbers are on different bases, so the gap does not mean the roads crew overspent by that much.
Found by reading the town's own documents · 4 sources
$12,108,608the Township's investment in Enova at the end of 2025
Wellesley owns 2.78% of Enova Energy Corporation, a local electricity company formed in 2022. The Township's books value its stake at $12,108,608, 47% of the $25,934,974 of financial assets the Township holds (worked out by us). In 2025 it received a dividend of $336,000 and interest of $81,798 on a loan to Enova. The 2026 budget slides expect $338K of interest and dividends, "down from $403K" in the 2025 budget.
Found by reading the town's own documents · 4 sources
$127per home on council, 2024
Wellesley spent about $127 per home on council in 2024. The typical similar town spent $51. Only 8 of 92 similar towns spent more.
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.
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 Wellesley? Send us your answer and we will publish it with this question.
Council per home: Wellesley $127; typical similar town $51; ranked 9th highest of 93.
Ontario Financial Information Return (FIR), 2024, 92 similar municipalities · Schedule 40 and Schedule 2 · archived copy
$1,658,382spent on capital assets in 2025, against a budget of $2,864,820
Capital spending is money for roads, buildings and equipment that last many years. A reserve is money the Township sets aside for later. The 2025 budget planned $2,864,820 of capital work, all paid from reserves. The audited statements show $1,658,382 spent on tangible capital assets (a figure that is 58% of the budget, worked out by us). Over the same year the reserves on the Township's books rose from $6,576,447 to $7,988,508 (a rise of $1,412,061, worked out by us). The 2026 budget again says all capital spending will be paid from reserves.
If planned projects are not built, the roads and equipment they were meant to fix keep ageing, and the money saved for them sits. Residents are asked to pay into reserves each year, so they have a right to know whether the work is happening on time.
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 Wellesley? Send us your answer and we will publish it with this question.
The records that would answer this can be requested: Status of the 2025 capital budget projects, with wording you can copy.
Statement of change in net financial assets: "Acquisition of tangible capital assets" budget (2,864,820), 2025 actual (1,658,382), 2024 actual (7,903,730).
Financial Statements, December 31, 2025 (MNP LLP) · Statement of Change in Net Financial Assets, PDF page 8 (printed page 3)
Note 16, Accumulated surplus, "Reserve and Reserve Funds" total 7,988,508 at the end of 2025 (2024: 6,576,447). Infrastructure - roads, equipment and structures 3,636,652 (2024: 3,080,052); Fire 1,408,916 (2024: 1,063,724).
Financial Statements, December 31, 2025 (MNP LLP) · Note 16, Accumulated surplus, PDF page 18 (printed page 13)
Schedule 1, Schedule of Tangible Capital Assets: assets under construction, balance at end of year 1,261,727 (beginning of year 4,281,638).
Financial Statements, December 31, 2025 (MNP LLP) · Schedule 1, PDF page 22 (printed page 17)
Capital budget slide: "Total Capital Budget" 2,864,820. Next slide: "100% of the Capital Spend is funded by Reserves."
Township of Wellesley 2025 Budget (slide deck) · Capital budget slides, PDF pages 3 and 4
"100% of the Capital Spend is funded by Reserves." The slide also says "the purchase of a front-line pumper" is "responsible for ~ 31% of the overall budget."
Township of Wellesley 2026 Budget (slide deck) · Capital budget slides, PDF pages 3 and 4
$1,668,711annual surplus in 2025, of which $2,539,475 was money for capital projects
The Township's 2025 budget planned for no surplus. The audited statements show an annual surplus of $1,668,711. But the same statements show $2,539,475 of "grants and transfers related to capital": money that can only be spent on building and fixing things. Without it, the year would have been a shortfall of $870,764 (worked out by us). In 2024 the same sum was worked out by us as a shortfall of $1,229,173 (a surplus of $5,970,002 less $7,199,175 of capital grants and gifts). One large cost in the statements is amortization, which is the yearly share of what the Township's buildings and roads are said to lose in value. It was $3,361,643 in 2025 and is not a cash payment.
A surplus headline can look healthy when it depends on one-time money for projects. Residents are asked to cover the everyday costs from taxes and fees, so it matters whether those costs are covered each year on their own.
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 Wellesley? Send us your answer and we will publish it with this question.
Statement of operations, 2025: "Annual surplus" budget nil, actual 1,668,711 (2024 actual 5,970,002). Grants and transfers related to capital: "Grants - Ontario" 1,353,523 (2024: 4,124,623); "Deferred revenue earned" 693,966 (2024: 1,975,679); "Donations and other, capital" 491,986 (2024: 1,098,873).
Financial Statements, December 31, 2025 (MNP LLP) · Statement of Operations and Accumulated Operating Surplus, PDF page 7 (printed page 2)
Schedule of segmented disclosure, 2025 totals: "Grants and transfers related to capital" 2,539,475; "Amortization" 3,361,643; "Annual surplus (deficit)" 1,668,711.
Financial Statements, December 31, 2025 (MNP LLP) · Schedule 2, Schedule of Segmented Disclosure, PDF page 23 (printed page 18)
Operating budget summary: "Transfers to Reserves" 2,401,962; "Long Term Debt Repayments" 935,582; "Total Operating Expenditures" 12,321,514.
Township of Wellesley 2025 Budget (slide deck) · Operating expenditure slide, PDF page 9
$708,184left in the tax rate stabilization reserve at the end of 2025, against a $277K draw in the 2026 budget
A tax-rate stabilization reserve is a savings account that lets a town smooth out tax increases. The balance fell from $858,021 at the end of 2023 to $795,019 at the end of 2024 and $708,184 at the end of 2025. The 2026 budget slides say general revenue includes a "$277K Tax Rate Stabilization draw". The 2025 slides listed the same $277K but called it a "Reserve Contribution". At $277,000 a year, the $708,184 balance would last about two and a half years (worked out by us).
Using savings to keep this year's tax bill low means a bigger step up later, once the savings are gone. Residents should know whether the plan is to replace the savings or to raise taxes more later.
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 Wellesley? Send us your answer and we will publish it with this question.
Note 16, Accumulated surplus: "Tax rate stabilization" 708,184 at the end of 2025 (2024: 795,019).
Financial Statements, December 31, 2025 (MNP LLP) · Note 16, Accumulated surplus, PDF page 18 (printed page 13)
Note 17, Accumulated surplus: "Tax rate stabilization" 795,019 at the end of 2024 (2023: 858,021).
Financial Statements, December 31, 2024 · Note 17, Accumulated surplus, PDF page 18 (printed page 13)
Note on the revenue slide: "Main sources of General Revenue includes $338K from Interest and Dividends from Enova (down from $403K), $277K Tax Rate Stabilization draw, Interest & Penalties $340K (up from $285K), & Other $287K".
Township of Wellesley 2026 Budget (slide deck) · Revenue slide note, PDF page 8
Note on the revenue slide: "Main sources of General Revenue includes $403K from Interest and Dividends from Enova, $277K Reserve Contribution, Interest & Penalties $285K, & Other $210K".
Township of Wellesley 2025 Budget (slide deck) · Revenue slide note, PDF page 8
$1,015,653operating fund deficiency to be recovered in future years, end of 2025
The audited statements list, among the pieces that make up the Township's accumulated surplus, a negative line called "Operating fund deficiency to be recovered in future years": $1,015,653 at the end of 2025 and $2,342,233 at the end of 2024. The notes do not say what it is made of or when it will be recovered. In the 2024 statements the same pieces were shown differently: a single line of $12,926,233 called "Operating fund deficiency", which also covered the Township's long-term debt (worked out by us: $10,584,000 plus $2,342,233).
A deficiency "to be recovered in future years" is a bill that will be paid by future taxpayers. It fell by $1,326,580 in a year (worked out by us), so it is moving, and residents can reasonably ask what moves 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 Wellesley? Send us your answer and we will publish it with this question.
The records that would answer this can be requested: 2025 year-end budget to actual report, with wording you can copy.
Note 16, General surplus: "Operating fund deficiency to be recovered in future years" (1,015,653); 2024 (2,342,233). "Net long-term liabilities" (10,066,000); 2024 (10,584,000).
Financial Statements, December 31, 2025 (MNP LLP) · Note 16, Accumulated surplus (continued), PDF page 19 (printed page 14)
Note 10, Asset retirement obligation: the Township "is required to remove asbestos from certain buildings"; balance at end of year 258,152.
Financial Statements, December 31, 2025 (MNP LLP) · Note 10, Asset retirement obligation, PDF page 17 (printed page 12)
Note 17, General surplus: "Operating fund deficiency" (12,926,233); 2023 (13,335,585).
Financial Statements, December 31, 2024 · Note 17, Accumulated surplus (continued), PDF page 19 (printed page 14)
$5,567,472spent on salaries, wages and benefits in 2025, up from $5,051,646 in 2024
Salaries, wages and employee benefits were $5,567,472 in 2025, against $5,051,646 in 2024 and $4,583,037 in 2023. That is a rise of 10.2% in 2025 and 21.5% over two years (both worked out by us). The Township paid into the OMERS pension plan for 63 staff in 2025 (60 in 2024). Its pension contribution rose from $290,175 to $347,337 (worked out by us: 19.7%).
Pay and benefits are the largest cost that continues from year to year. When the bill rises faster than taxes, either services expand or something else gives.
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 Wellesley? Send us your answer and we will publish it with this question.
Note 12, Expenses by object: "Salaries, wages and employee benefits" 5,567,472 (2024: 5,051,646). Total expenses 13,419,315 (2024: 12,900,343).
Financial Statements, December 31, 2025 (MNP LLP) · Note 12, Expenses by object, PDF page 18 (printed page 13)
Note 5, OMERS: contributions "on behalf of 63 (2024 - 60) members of its staff". Amount contributed for 2025 was $347,337 (2024 - $290,175).
Financial Statements, December 31, 2025 (MNP LLP) · Note 5, Ontario Municipal Employees' Retirement Fund, PDF page 14 (printed page 9)
Note 13, Expenses by object: "Salaries, wages and employee benefits" 5,051,646 (2023: 4,583,037).
Financial Statements, December 31, 2024 · Note 13, Expenses by object, PDF page 18 (printed page 13)
$5,136,661owed to the Township at the end of 2025, up from $1,935,154 two years earlier
Accounts receivable is money other people or governments owe the Township. It was $1,935,154 at the end of 2023, $3,954,511 at the end of 2024 and $5,136,661 at the end of 2025. That is more than two and a half times the 2023 balance (worked out by us). The cash-flow statement shows the Township had $1,182,150 less cash in 2025 because of this rise.
Money owed but not yet received cannot pay for roads or staff. If it is a grant that is certain to arrive, there is little risk. If it is something else, residents should know.
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 Wellesley? Send us your answer and we will publish it with this question.
Statement of financial position: "Accounts receivable" 5,136,661 (2024: 3,954,511). "Taxes receivable" 887,554 (2024: 582,618).
Financial Statements, December 31, 2025 (MNP LLP) · Statement of Financial Position, PDF page 6 (printed page 1)
Statement of cash flows, changes in working capital: "Accounts receivable" (1,182,150) in 2025 and (2,019,357) in 2024.
Financial Statements, December 31, 2025 (MNP LLP) · Statement of Cash Flows, PDF page 9 (printed page 4)
Statement of financial position, 2023 comparative: "Accounts receivable" 1,935,154.
Financial Statements, December 31, 2024 · Statement of Financial Position, PDF page 6 (printed page 1)
+75%parks, arena and library, 2019 to 2024
Wellesley spent $1.5M on parks, arena and library in 2019 and $2.6M in 2024. Prices only went up about 18% in that time. Only 13 of 92 similar towns had faster growth here.
| Year | Parks, arena and library | Prices (inflation) |
|---|---|---|
| 2019 | +0% | +0% |
| 2020 | −19% | +1% |
| 2021 | −18% | +4% |
| 2022 | +19% | +11% |
| 2023 | +43% | +16% |
| 2024 | +75% | +18% |
Change since the first year shown. The grey line is how much prices rose overall, for comparison.
When one area grows much faster than prices, it is either doing more (which may be great) or paying more for the same thing. Residents deserve to know which.
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 Wellesley? Send us your answer and we will publish it with this question.
Parks, arena and library: 2019 $1.5M, 2020 $1.2M, 2021 $1.2M, 2022 $1.8M, 2023 $2.1M, 2024 $2.6M.
Ontario Financial Information Return (FIR), 2019 to 2024 · Schedule 40 · archived copy
Biggest driver: Arena and buildings, from $1.5M to $2.6M.
Ontario Financial Information Return (FIR), 2019 to 2024 · Schedule 40 · archived copy
Typical growth among similar towns: 38%. Wellesley ranks 14th of 93.
Ontario Financial Information Return (FIR), 2024, 92 similar municipalities · Schedule 40 · archived copy
$3,085per home on long-term debt, 2024
Wellesley spent about $3,085 per home on long-term debt in 2024. The typical similar town spent $1,237. Only 13 of 92 similar towns spent more.
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.
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 Wellesley? Send us your answer and we will publish it with this question.
Long-term debt per home: Wellesley $3,085; typical similar town $1,237; ranked 14th highest of 93.
Ontario Financial Information Return (FIR), 2024, 92 similar municipalities · Schedule 40 and Schedule 2 · archived copy
$4,801,244transportation cost in 2025, against a budget column of $3,839,659
The statements compare each service's actual 2025 cost with a budget. For transportation (roads, bridges and the roads crew) the budget column shows $3,839,659 and the actual cost $4,801,244. The gap of $961,585 is worked out by us. The Township's explanation is not in a note, but the numbers point to a likely reason. Its budget slides show the same $3,839,659 for public works, and the budget also lists $2,401,962 for reserves and $935,582 for debt repayments as spending. The statements' actual costs include amortization ($1,889,930 for transportation). The two sets of numbers are on different bases, so the gap does not mean the roads crew overspent by that much.
A reader who compares the budget column with the actual column will think the Township overspent by $1,097,802 in total (worked out by us). Because the two sides are built differently, that reading is misleading, and only a person who reads the budget slides would find out.
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 Wellesley? Send us your answer and we will publish it with this question.
Statement of operations, 2025: "Transportation services" budget 3,839,659, actual 4,801,244. Total expenses budget 12,321,513, actual 13,419,315.
Financial Statements, December 31, 2025 (MNP LLP) · Statement of Operations and Accumulated Operating Surplus, PDF page 7 (printed page 2)
Note 13, Budget information: "The budget figures reported on the Statement of Operations and Accumulated Surplus are the 2025 municipal operating and capital budgets as approved by Council during 2024." The note does not mention amortization or reserve transfers.
Financial Statements, December 31, 2025 (MNP LLP) · Note 13, Budget information, PDF page 18 (printed page 13)
Schedule of segmented disclosure: transportation services, "Amortization" 1,889,930.
Financial Statements, December 31, 2025 (MNP LLP) · Schedule 2, Schedule of Segmented Disclosure, PDF page 23 (printed page 18)
Operating budget slide: "Operating Expenses" 8,983,970; "Transfers to Reserves" 2,401,962; "Long Term Debt Repayments" 935,582; "Total Operating Expenditures" 12,321,514. The next slide lists "Public Works" 3,839,659.
Township of Wellesley 2025 Budget (slide deck) · Operating expenditure slides, PDF pages 9 and 10
$12,108,608the Township's investment in Enova at the end of 2025
Wellesley owns 2.78% of Enova Energy Corporation, a local electricity company formed in 2022. The Township's books value its stake at $12,108,608, 47% of the $25,934,974 of financial assets the Township holds (worked out by us). In 2025 it received a dividend of $336,000 and interest of $81,798 on a loan to Enova. The 2026 budget slides expect $338K of interest and dividends, "down from $403K" in the 2025 budget.
This income helps keep taxes lower. Residents should know how much of the Township's money is tied up in one company and how steady its payments are.
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 Wellesley? Send us your answer and we will publish it with this question.
Note 6: "the Township holds 2.78% of the common shares of Enova Energy Corporation" and "$2,532,446 of long-term notes receivable" bearing interest at 3.23%. Interest received in 2025 was $81,798. Investment 11,983,017 at the start of 2025, share of earnings 461,591, dividends received (336,000), end of year 12,108,608.
Financial Statements, December 31, 2025 (MNP LLP) · Note 6, Investment in Enova Energy Corporation, PDF page 15 (printed page 10)
Statement of financial position: "Total of financial assets" 25,934,974; "Investment in Enova Energy Corporation" 12,108,608.
Financial Statements, December 31, 2025 (MNP LLP) · Statement of Financial Position, PDF page 6 (printed page 1)
Enova summary: "Total revenue" 113,647,000; "Total expenses" 97,043,000; "Net income" 16,604,000. Enova's short-term bank debt was 161,466,000.
Financial Statements, December 31, 2025 (MNP LLP) · Note 6, Enova summary, PDF pages 15 and 16
Note on the revenue slide: "$338K from Interest and Dividends from Enova (down from $403K)".
Township of Wellesley 2026 Budget (slide deck) · Revenue slide note, PDF page 8