$4,257,778surplus in 2025, against a budget figure of $243,160
A surplus is what is left when a year's revenue is more than its spending. The audited 2025 statements show an annual surplus of $4,257,778. The budget figure printed beside it is $243,160. In 2024 the statements show $3,384,305 against a budget figure of $1,322,830. Revenue in 2025 was $25,683,343 against a budget figure of $22,037,416. The Municipality's budget book says a municipal budget must be balanced, so the budget figures in the statements are a restated version, not the amount Council voted on.
$2,643,445investment income in 2025, against a budget figure of $482,900
Investment income is the interest and gains the Municipality earns on money it has saved. In 2025 it printed at $2,643,445 against a budget figure of $482,900. In 2024 it was $961,946 against $386,900. At the end of 2025 the Municipality held cash and cash equivalents of $24,341,338 and investments of $8,359,361. The statements say the principal protected notes, which are most of the investments, earn a return "determined upon maturity", so we do not know what made up the 2025 figure.
$2,930,332owed to CIBC at December 31, 2025, due in 2026
The Municipality borrowed $3,000,000 in 2024 from a bank (CIBC) at 4.74% interest, for land. The statements show the loan at $2,930,332 at the end of 2025 and say it is due in 2026. The land is held as "Land inventory held for sale" at $4,518,169, the same amount at the end of 2024 and 2025. The 2025 statements show "Industrial land sales and miscellaneous" of 13,162. The Municipality's budget book says the loan "will be repaid when lots are sold within the Heron Business Park". The 2026 Mayor's Budget lists development of the Heron Business Park as a capital priority.
$15 millionice pad replacement planned for 2027, with a $20 million wastewater plant expansion in 2028
Capital means building and replacing things that last, like roads and arenas. The 10-year capital plan staff gave Council in February 2025 shows spikes: an ice pad replacement ($15 million, 2027), a wastewater treatment plant expansion ($20 million, 2028), a water standpipe ($5 million, 2030) and a landfill ($4.5 million, 2032). Staff say they expect grants for these, "or the use of debt will be required". The 2025 statements show reserves and reserve funds of $24,868,670 and municipal debt of $6,375,783. The 2026 Mayor's Budget says the operating budget "accounts for required Arena debt payments", but the 2025 statements list no loan for an arena.