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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by hand, Oct 2026DetailsThis is built from public records, which leave a lot out, and some of it may be wrong or out of date.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 Whitchurch - Stouffville'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 · 9 so far

Things worth asking about

We read Whitchurch - Stouffville's financial reports and meeting minutes, and compared its numbers with 14 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.

Worth askingOpenness

What did the speed camera program collect and cost, and will the $2.5 million of unpaid tickets be collected now that it has ended?

$2,539,861rise in accounts receivable in 2025, which the Town says came from unpaid speed camera tickets

The Town's annual report says a new Automated Speed Enforcement (ASE) program lifted 2025 revenue above budget, produced about $1.5 million of the operating surplus, and ended in November 2025. It also says accounts receivable rose by $2.5 million because of tickets "still pending payment" at year end. The budget book shows a "Fines" line of 3.80 (millions) in the 2025 budget, against 0.36 actual in 2024 and 0.64 in the 2026 budget. We did not find, in the documents we read, how much ASE was budgeted at, what it cost to run, or how much of the unpaid tickets has since been paid.

Found by reading the town's own documents · 6 sources

Worth askingMoney health

Why does the 2026 budget put $3.77 million less into reserves and defer the capital levy, when its own asset plan calls for $16.4 million a year of renewal?

$3.9 millionannual funding gap for asset renewal in 2026, per the Town (a separate figure of $8.3 million appears in the same book)

A reserve is money set aside for later, such as replacing a road or a roof. The Town's 2026 budget cuts the "Transfer to Reserves" from 16.45 to 12.68 (millions), a fall of 22.94%. The budget book says the 3% capital levy, a part of the tax increase meant to build those reserves, "has been deferred to help reduce the property tax impact". It also says that after 2026 reserve contributions of $7.4 million and grants of $5.1 million, "a funding gap of $3.9 million remains" against the $16.4 million a year its 2025 Asset Management Plan recommends. Elsewhere in the same book, the executive summary names a different number: an annual infrastructure investment gap of $8.3 million.

Found by reading the town's own documents · 4 sources

Worth askingMoney health

How will the Town pay for $226.6 million of listed projects with no funding found, when development charge collections are below plan and the fire fund is overdrawn?

$226.6 millionof projects in the 10-year capital plan are unfunded, per the 2026 budget book

Development charges are fees collected when new homes and buildings go up, to pay for what growth needs. The 2026 budget book says $226.6 million of projects in the 10-year plan are unfunded, including three fire stations ($43.6 million), a library branch ($38.2 million) and a leisure centre ($139.5 million). It says development charge collections "have been below projections". The Town's Treasurer's statement shows the fire protection part of the development charge reserve fund closed 2025 at (1,073,007), a negative balance. The Town reports no new debt in the plan.

Found by reading the town's own documents · 4 sources

Worth askingRising costs

Why did the cost of police, fire and safety grow 92% in 6 years?

+92%police, fire and safety, 2019 to 2025

Whitchurch - Stouffville spent $9.0M on police, fire and safety in 2019 and $17.2M in 2025. Prices only went up about 21% in that time.

Found automatically from the town's financial reports · 2 sources

Worth askingMoney health

Why are so many property taxes unpaid?

$19.6Mowed in unpaid property tax, end of 2025

At the end of 2025, $19.6M of property tax had been billed but not paid. That is 14% of everything billed. Only 3 of 14 similar towns had a higher share. A year earlier it was $18.8M.

Found automatically from the town's financial reports · 2 sources

Good to know

Good to know

Background that helps make sense of the rest.

Good to knowMoney health

Why does the 2025 audited surplus ($12,395,534) differ so much from the $3,376,400 operating surplus the Town reports?

$12,395,534audited annual surplus in 2025, against a budget of $3,302,976 and a reported operating surplus of $3,376,400

A surplus is what is left when a year's revenue is more than its spending. The audited statements show an annual surplus of $12,395,534 for 2025, against a budgeted $3,302,976. The year before, the statements show $14,095,564 against a budget of $4,000,315. The Town's own annual report and the Mayor's message give a different number for 2025, an "operating surplus" of $3,376,400, up from "just over $29,000" in 2024. The Town has explained that the budget and the statements are built on different bases. What we did not find is a table that walks from one number to the other. The gap is $9,019,134 (worked out by us).

Found by reading the town's own documents · 5 sources

Good to knowMoney health

How are the Town's $32,141,113 of principal protected notes valued, and why do the statements call them "Level 1"?

$32,141,113held in principal protected notes at the end of 2025, up from $18,949,980

A principal protected note is a bank-issued investment that promises to return the money put in if it is held to the end of its term, with any extra return depending on a market formula. The Town's principal protected notes (PPN) rose from $18,949,980 to $32,141,113 in 2025, about a quarter of its $124,104,550 of portfolio investments (worked out by us). The statements put them in "Level 1", which the same note defines as prices from active markets for identical assets. The note then says the value comes from "discounted cash flow analysis" using the credit risk of counterparties, which sounds more like a model than a quoted price. In 2025 the notes lost $379,866 in fair value, after a gain of $1,840,680 in 2024.

Found by reading the town's own documents · 4 sources

Good to knowOpenness

Why does the budget book show property tax revenue up 2.55% in 2026 and 7.32% in 2027, when the levy increase is 3.50%?

7.32%projected rise in property tax revenue for 2027, against a 3.50% levy increase in 2026

The Town's executive summary says the Mayor tabled a 3.50% tax levy increase for 2026, and the operating summary gives a net levy increase of $1,661,710. The revenue table in the same book shows "Property Taxation" rising from 51.83 to 53.15 (millions), or 2.55%, for 2026. For 2027 it projects 57.04, a rise of 3.89 or 7.32%. A footnote says the 2027 figure includes "the prior year(s) proposed tax levy increase". The book does not say what increase the 2027 projection assumes, or what explains the 2.55%.

Found by reading the town's own documents · 4 sources

Good to knowHow decisions are made

How much could the Town owe members of Council as retirement allowances if they are not re-elected on October 26, 2026?

$1,440,284accrued salary, benefits and severance payable at the end of 2025 (covers staff as well as Council)

The Town's statements say a 2021 by-law gives every member of Council a retirement allowance of one month's salary for each year of continuous service, up to 12 months, if they are not re-elected. The statements say management estimates the cost and reserves are set aside, but they do not give the amount for Council. They list one combined line, "Accrued salary, benefits and severance payable", of $1,440,284 at the end of 2025, down from $2,714,486, which also covers staff.

Found by reading the town's own documents · 3 sources

Each question in full

Worth askingFound by reading the town's documents

What did the speed camera program collect and cost, and will the $2.5 million of unpaid tickets be collected now that it has ended?

$2,539,861rise in accounts receivable in 2025, which the Town says came from unpaid speed camera tickets

The Town's annual report says a new Automated Speed Enforcement (ASE) program lifted 2025 revenue above budget, produced about $1.5 million of the operating surplus, and ended in November 2025. It also says accounts receivable rose by $2.5 million because of tickets "still pending payment" at year end. The budget book shows a "Fines" line of 3.80 (millions) in the 2025 budget, against 0.36 actual in 2024 and 0.64 in the 2026 budget. We did not find, in the documents we read, how much ASE was budgeted at, what it cost to run, or how much of the unpaid tickets has since been paid.

Why it matters

The Town counted a one-time program as revenue and built reserves from it. Residents can fairly ask how much came in, how much went out, and how much of the money still owed is expected to arrive, since the cameras are no longer running.

It could be because…

  • Tickets issued before the program ended can still be paid after it ended, so the receivable may be collected in 2026.
  • The 2025 budget may have carried ASE as a placeholder line matched by program costs, which the budget book does not break out.
  • The Town says the program surplus was moved to reserves for road safety, so the money was not spent on something unrelated.

Questions you could ask

  1. How much was budgeted for the speed camera program in 2025, how much did it collect, and what did it cost to run?
  2. How much of the $2,539,861 in unpaid tickets has been paid since December 31, 2025, and how much does the Town expect to collect?
  3. Did the 2025 "Fines" budget of 3.80 (millions) include speed camera revenue, and if so why is it not named in the budget book?

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 Whitchurch - Stouffville? Send us your answer and we will publish it with this question.

The records that would answer this can be requested: Speed camera program revenue, costs and unpaid tickets, with wording you can copy.

The evidence

  1. "Accounts Receivable: The increase of $2.5 million from the prior year was driven by the new Automated Speed Enforcement (ASE) program. This was a one-time program, and the balance represents tickets issued that were still pending payment as of December 31, 2025."

    Town of Whitchurch-Stouffville, 2025 Annual Financial Report · Report from the Treasurer, Significant Variances, Financial Assets, PDF page 17

  2. "User Fees, Licenses and Fines: Revenue increased by $7.2 million compared to 2024, driven by several factors. A major contributor was the new Automated Speed Enforcement (ASE) program, and associated revenues exceeded the budget in 2025. As the program ended in November 2025, this was a one-time revenue source, and the surplus was transferred to reserves to support future road safety initiatives."

    Town of Whitchurch-Stouffville, 2025 Annual Financial Report · Report from the Treasurer, Revenues, PDF page 18

  3. "In 2025, the Town generated an operating surplus of $3,376,400, including approximately $1.5 million from the ASE program." $1,025,800 of it went to the Rehab & Replacement reserve "for road safety initiatives".

    Town of Whitchurch-Stouffville, 2025 Annual Financial Report · Report from the Treasurer, Reserves, Debt, and Financial Sustainability, PDF page 19

  4. Accounts receivable 15,548,065 (2024: 13,008,204). Cash flow line "Accounts receivable" (2,539,861).

    The Corporation of the Town of Whitchurch-Stouffville, Consolidated Financial Statements, December 31, 2025 (KPMG LLP, June 17, 2026) · Consolidated Statement of Financial Position, PDF page 6; Statement of Cash Flows, PDF page 10

  5. Revenue table, "Fines": Dec. 31 2024 Actual (Audited) - 0.36; 2025 Budget - 3.80; 2026 Approved Budget - 0.64; budget change over prior year ($) 3.16, (%) -83.19%; 2027 projected - 0.59. $ rounded to millions.

    Town of Whitchurch-Stouffville, 2026-2027 Operating and Capital Budget (budget book) · 2026-2027 revenues, PDF page 34

  6. The budget book's description of the Fines line says: "The Town of Whitchurch-Stouffville's By-Law Department is responsible for enforcing Municipal By-Laws", and that fines and permit fees "all contribute to our Operating Budget funds." It does not mention speed cameras.

    Town of Whitchurch-Stouffville, 2026-2027 Operating and Capital Budget (budget book) · Fines, PDF page 35

↑ All questions

Worth askingFound by reading the town's documents

Why does the 2026 budget put $3.77 million less into reserves and defer the capital levy, when its own asset plan calls for $16.4 million a year of renewal?

$3.9 millionannual funding gap for asset renewal in 2026, per the Town (a separate figure of $8.3 million appears in the same book)

A reserve is money set aside for later, such as replacing a road or a roof. The Town's 2026 budget cuts the "Transfer to Reserves" from 16.45 to 12.68 (millions), a fall of 22.94%. The budget book says the 3% capital levy, a part of the tax increase meant to build those reserves, "has been deferred to help reduce the property tax impact". It also says that after 2026 reserve contributions of $7.4 million and grants of $5.1 million, "a funding gap of $3.9 million remains" against the $16.4 million a year its 2025 Asset Management Plan recommends. Elsewhere in the same book, the executive summary names a different number: an annual infrastructure investment gap of $8.3 million.

Why it matters

Roads, buildings and pipes wear out whether or not the money is set aside. Deferring the levy keeps this year's tax increase lower but leaves the work for later budgets. The Town has been open about this, so the question is how large the gap really is and when the levy returns.

It could be because…

  • The Town's reserves grew in 2025, from $61,841,710 to $71,814,743, so the 2026 cut may follow a year in which reserves were topped up.
  • The $3.9 million and the $8.3 million may measure different things (renewal of existing assets against all infrastructure investment); the book does not say.
  • The book says staff expect to ask for capital levy support in future years, so the deferral may be one year only.

Questions you could ask

  1. Is the $3.9 million gap or the $8.3 million gap the right measure of what the Town is short each year, and what is the difference?
  2. What are the Town's reserve targets, and how far below them are the capital reserves after the 2026 deferral?
  3. In which year does the Town plan to bring the capital levy back, and at what rate?

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 Whitchurch - Stouffville? Send us your answer and we will publish it with this question.

The evidence

  1. "Transfer to Reserves": Dec. 31 2024 actual 15.11; 2025 budget 16.45; 2026 approved 12.68; change over prior year -3.77, -22.94%; 2027 projected 12.97 ($ rounded to millions).

    Town of Whitchurch-Stouffville, 2026-2027 Operating and Capital Budget (budget book) · Operating budget, expenses table, PDF page 28; 2026 - 2027 expenses, PDF page 29

  2. "In 2020, Council endorsed a 3% annual capital levy to build reserves toward target levels. This was reduced to 1% in 2021 due to pandemic-related fiscal constraints. The levy was deferred in 2022." "For 2026, the levy has been deferred to help reduce the property tax impact while continuing to advance key capital priorities." "2026 reserve contributions of $7.4 million, along with federal and provincial grant funding of $5.1 million, provide $12.5 million for rehabilitation. While significant, a funding gap of $3.9 million remains when compared to the $16.4 million annual investment recommended by the 2025 AMP".

    Town of Whitchurch-Stouffville, 2026-2027 Operating and Capital Budget (budget book) · Asset management, PDF page 84

  3. "In 2025, Whitchurch-Stouffville completed an Asset Management Plan that identified an annual infrastructure investment gap of $8.3 million and underscored the need to invest in the Town's aging infrastructure."

    Town of Whitchurch-Stouffville, 2026-2027 Operating and Capital Budget (budget book) · Executive summary, PDF page 9

  4. "Reserves and reserve funds" $ 71,814,743 (2024: $ 61,841,710). Capital reserves 49,023,314 (2024: 41,822,028).

    The Corporation of the Town of Whitchurch-Stouffville, Consolidated Financial Statements, December 31, 2025 (KPMG LLP, June 17, 2026) · Note 9, Accumulated surplus, PDF page 32

↑ All questions

Worth askingFound by reading the town's documents

How will the Town pay for $226.6 million of listed projects with no funding found, when development charge collections are below plan and the fire fund is overdrawn?

$226.6 millionof projects in the 10-year capital plan are unfunded, per the 2026 budget book

Development charges are fees collected when new homes and buildings go up, to pay for what growth needs. The 2026 budget book says $226.6 million of projects in the 10-year plan are unfunded, including three fire stations ($43.6 million), a library branch ($38.2 million) and a leisure centre ($139.5 million). It says development charge collections "have been below projections". The Town's Treasurer's statement shows the fire protection part of the development charge reserve fund closed 2025 at (1,073,007), a negative balance. The Town reports no new debt in the plan.

Why it matters

A growing town needs fire stations and a library for new neighbourhoods. If the fees expected from builders arrive more slowly, the Town must find the money elsewhere, delay the projects or borrow. Residents will want to know the plan, and what a negative fire fund means.

It could be because…

  • A negative balance in a development charge account can be ordinary: the Town may have paid for a growth project from another source and will be repaid as fees arrive. The Treasurer's statement shows a fire project, Station 52 in Ballantrae, among its 2025 draws.
  • Putting projects in a plan as "unfunded" is how a town shows what it needs before a funding source exists.
  • The Town's overall development charge reserve fund still holds $27,736,778, and other parts of the fund (parks and recreation, roads) are positive.

Questions you could ask

  1. What is the plan to fund the three fire stations, the library branch and the leisure centre if development charge collections stay below projections?
  2. What caused the fire protection development charge balance to be negative at (1,073,007), and when is it expected to be repaid?
  3. The same page says "high debt levels" while the Town's other documents say debt is well within limits. Which describes the Town's position?

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 Whitchurch - Stouffville? Send us your answer and we will publish it with this question.

The evidence

  1. "In the face of uncertainties and high debt levels, only projects with identified funding sources are included in the recommended 2026-2035 Capital Plan. Unfunded projects include the $43.6 million for three fire stations to be located in Linconville, Gormley and Ringwood areas, $38.2 million Library Branch and $139.5 million Leisure Centre in the Highway 48 corridor. While a portion of these projects is expected to be funded through Development Charges, collections have been below projections, and there is uncertainty whether future collections will meet anticipated levels." "$226.6 million in projects remain unfunded".

    Town of Whitchurch-Stouffville, 2026-2027 Operating and Capital Budget (budget book) · Debt forecast, PDF page 89

  2. "For 2026 to 2035, the departments have identified $81 million worth of projects that require the collaboration of the development community. Additionally, there are around $226.6 million worth of projects categorized as "unfunded," meaning that their full funding has yet to be identified within the 10-year capital program."

    Town of Whitchurch-Stouffville, 2026-2027 Operating and Capital Budget (budget book) · 2026 - 2035 capital budget, PDF page 78

  3. Services Related to Fire Protection: Opening Balance, January 1, 2025 $ (1,217,442); Development Charge Collections $ 442,988; Closing Balance, December 31, 2025 $ (1,073,007). Growth-Related Studies (Corporate) closing balance 657,040; Provincial Offences Act (By-Law) closing balance (21,090); Total closing balance 27,736,778.

    Town of Whitchurch-Stouffville, 2025 Annual Treasurer's Statement of Development Charges · Annual Treasurer's Statement of Reserve Funds, PDF page 1, Closing Balance, December 31, 2025

  4. "...development-related user fees, which were approximately $2.3 million below budget in 2025 due to market conditions and lower application volumes."

    Town of Whitchurch-Stouffville, 2025 Annual Financial Report · Report from the Treasurer, Revenues, PDF page 18

↑ All questions

Worth askingFound automatically from financial reports

Why did the cost of police, fire and safety grow 92% in 6 years?

+92%police, fire and safety, 2019 to 2025

Whitchurch - Stouffville spent $9.0M on police, fire and safety in 2019 and $17.2M in 2025. Prices only went up about 21% in that time.

Why did the cost of police, fire and safety grow 92% in 6 years?
+92%
Show as a table
YearPolice, fire and safetyPrices (inflation)
2019+0%+0%
2020+6%+1%
2021+8%+4%
2022+24%+11%
2023+31%+16%
2024+43%+18%
2025+92%+21%

Change since the first year shown. The grey line is how much prices rose overall, for comparison.

Why it matters

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.

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

  1. What did the extra $8.2M a year pay for?
  2. Why did fire department go from $6.5M to $9.8M?
  3. 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 Whitchurch - Stouffville? Send us your answer and we will publish it with this question.

The evidence

  1. Police, fire and safety: 2019 $9.0M, 2020 $9.5M, 2021 $9.7M, 2022 $11.1M, 2023 $11.8M, 2024 $12.8M, 2025 $17.2M.

    Ontario Financial Information Return (FIR), 2019 to 2025 · Schedule 40 · archived copy

  2. Biggest driver: Fire department, from $6.5M to $9.8M.

    Ontario Financial Information Return (FIR), 2019 to 2025 · Schedule 40 · archived copy

↑ All questions

Worth askingFound automatically from financial reports

Why are so many property taxes unpaid?

$19.6Mowed in unpaid property tax, end of 2025

At the end of 2025, $19.6M of property tax had been billed but not paid. That is 14% of everything billed. Only 3 of 14 similar towns had a higher share. A year earlier it was $18.8M.

Why are so many property taxes unpaid?
$19.6M
Show as a table
YearUnpaid property tax at year end
2019$10.7M
2020$11.8M
2021$14.1M
2022$15.4M
2023$17.1M
2024$18.8M
2025$19.6M

Why it matters

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.

It could be because…

  • The final tax bill was due late in the year, so some payments simply arrived in January.
  • A few large properties are in dispute or being sold for back taxes.
  • Hard times for residents, which the town may be handling with payment plans.

Questions you could ask

  1. How much is more than one year overdue, and from how many properties?
  2. Are the rules for chasing unpaid taxes applied the same way to everyone?
  3. Has the town registered tax arrears certificates on properties about two years behind? If still unpaid a year after that, Ontario law lets the town sell the property.

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 Whitchurch - Stouffville? Send us your answer and we will publish it with this question.

The evidence

  1. Taxes receivable: 2019 $10.7M, 2020 $11.8M, 2021 $14.1M, 2022 $15.4M, 2023 $17.1M, 2024 $18.8M, 2025 $19.6M. Of the 2025 total, $8.0M was from earlier years.

    Ontario Financial Information Return (FIR), 2019 to 2025 · Schedule 70, lines 0610 to 0699 · archived copy

  2. Typical among similar towns: 10.5% of taxes billed.

    Ontario Financial Information Return (FIR), 2025, 14 similar municipalities · Schedules 26 and 70 · archived copy

↑ All questions

Good to knowFound by reading the town's documents

Why does the 2025 audited surplus ($12,395,534) differ so much from the $3,376,400 operating surplus the Town reports?

$12,395,534audited annual surplus in 2025, against a budget of $3,302,976 and a reported operating surplus of $3,376,400

A surplus is what is left when a year's revenue is more than its spending. The audited statements show an annual surplus of $12,395,534 for 2025, against a budgeted $3,302,976. The year before, the statements show $14,095,564 against a budget of $4,000,315. The Town's own annual report and the Mayor's message give a different number for 2025, an "operating surplus" of $3,376,400, up from "just over $29,000" in 2024. The Town has explained that the budget and the statements are built on different bases. What we did not find is a table that walks from one number to the other. The gap is $9,019,134 (worked out by us).

Why it matters

Residents see two surplus numbers and may not know which one is the money available to the Town. The Town's notes say the budget is prepared on a different basis from the statements, so a gap is expected. What is not published is how much of the $12.4 million is cash that can be spent and how much is money for building projects or non-cash accounting entries.

It could be because…

  • The statements count money received for capital projects (grants and developer contributions) as revenue when it is used, while the budget-basis operating surplus leaves capital items out. The budget book says the budget "does not expense transactions related to tangible capital assets".
  • The Town says its 2025 budget was set on a different basis from the statements and was adjusted to show a budgeted surplus of $3,302,976, which is close to the $3,376,400 operating surplus.
  • The 2025 revenue above budget partly came from one-time sources, such as speed camera fines, and the Town moved that money into reserves.

Questions you could ask

  1. Can the Town publish a short table that walks from the $3,376,400 operating surplus to the $12,395,534 audited surplus?
  2. How much of the $12,395,534 is cash the Town can spend, and how much is already committed to capital projects or held in restricted funds?
  3. Why was the 2024 operating surplus just over $29,000 when the audited surplus was $14,095,564?

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 Whitchurch - Stouffville? Send us your answer and we will publish it with this question.

The records that would answer this can be requested: Reconciliation of the 2025 operating surplus to the audited surplus, with wording you can copy.

The evidence

  1. Annual surplus: budget 3,302,976, actual 12,395,534, 2024 actual 14,095,564. Total revenue: budget 102,682,560, actual 110,409,174. Total expenses: budget 99,379,584, actual 98,013,640. Government grants: budget 3,035,190, actual 5,960,703. Investment income: budget 3,410,980, actual 5,637,639. Developer contributions: budget 1,923,690, actual 4,277,813.

    The Corporation of the Town of Whitchurch-Stouffville, Consolidated Financial Statements, December 31, 2025 (KPMG LLP, June 17, 2026) · Consolidated Statement of Operations and Accumulated Surplus, PDF page 7

  2. "The budget adopted on November 29, 2024 by the Town for 2025 was not prepared on a basis consistent with that used to report actual results". Adjustments: budgeted principal repayments 1,737,960; budgeted transfers to reserves 19,185,530; budgeted transfers from reserves (2,529,110); amortization (15,091,404); "Budgeted surplus for the year, per consolidated statement of operations and accumulated surplus" $ 3,302,976 (2024: $ 4,000,315).

    The Corporation of the Town of Whitchurch-Stouffville, Consolidated Financial Statements, December 31, 2025 (KPMG LLP, June 17, 2026) · Note 14, Budget, PDF page 37

  3. Mayor: "In 2025, we achieved an operating surplus of $3.4 million--an increase from just over $29,000 in 2024". Treasurer: "In 2025, the Town generated an operating surplus of $3,376,400, including approximately $1.5 million from the ASE program." Of it, $1,025,800 went to the Rehab & Replacement reserve, $500,000 to the new Winter Maintenance Stabilization reserve, $1,375,900 to the Tax Rate Stabilization reserve and $474,700 to the New Infrastructure reserve.

    Town of Whitchurch-Stouffville, 2025 Annual Financial Report · Mayor's Message, PDF page 3; Report from the Treasurer, Reserves, Debt, and Financial Sustainability, PDF page 19

  4. "These gains were partially offset by development-related user fees, which were approximately $2.3 million below budget in 2025 due to market conditions and lower application volumes."

    Town of Whitchurch-Stouffville, 2025 Annual Financial Report · Report from the Treasurer, Revenues, PDF page 18

  5. "The budget does not expense transactions related to tangible capital assets, including amortization, except for the operating contributions to reserves required to fund the capital budget."

    Town of Whitchurch-Stouffville, 2026-2027 Operating and Capital Budget (budget book) · Appendix IV, Basis of budgeting & accounting, PDF page 174

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Good to knowFound by reading the town's documents

How are the Town's $32,141,113 of principal protected notes valued, and why do the statements call them "Level 1"?

$32,141,113held in principal protected notes at the end of 2025, up from $18,949,980

A principal protected note is a bank-issued investment that promises to return the money put in if it is held to the end of its term, with any extra return depending on a market formula. The Town's principal protected notes (PPN) rose from $18,949,980 to $32,141,113 in 2025, about a quarter of its $124,104,550 of portfolio investments (worked out by us). The statements put them in "Level 1", which the same note defines as prices from active markets for identical assets. The note then says the value comes from "discounted cash flow analysis" using the credit risk of counterparties, which sounds more like a model than a quoted price. In 2025 the notes lost $379,866 in fair value, after a gain of $1,840,680 in 2024.

Why it matters

These investments hold public money, and their value moves with markets and with the issuing banks' credit. Residents can reasonably ask who issues them, how they are valued and how much of the reported value is a paper figure.

It could be because…

  • The note may simply use "Level 1" loosely, or the notes may be priced from dealer quotes in an active market in addition to a model.
  • The Town says its investment policy limits issuer type and credit quality and that it follows Ontario Regulation 438/97, which suggests the holdings are within the rules.
  • If the notes are held to the end of their term, the principal comes back whatever the market does in between, so a fair value loss may not become a cash loss.

Questions you could ask

  1. Who issues the $32,141,113 of principal protected notes, how long do they run, and what happens to the principal if an issuer fails?
  2. How is the fair value of these notes found each year, and who provides the prices?
  3. Is the Town's investment policy, and a yearly report on what it holds, available to the public? We did not find it on the pages we could read.

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 Whitchurch - Stouffville? Send us your answer and we will publish it with this question.

The records that would answer this can be requested: List of investments held at December 31, 2025, with wording you can copy.

The evidence

  1. "Investments reported at fair market value: PPN 1 32,141,113 18,949,980"; total portfolio investments $ 124,104,550 (2024: $ 109,934,556). "The market value of the portfolio investments at December 31, 2025 was $128,453,884".

    The Corporation of the Town of Whitchurch-Stouffville, Consolidated Financial Statements, December 31, 2025 (KPMG LLP, June 17, 2026) · Note 3, Portfolio investments, PDF page 25

  2. "Level 1 - fair value measurements are those derived from quoted prices in active markets for identical assets or liabilities using the last bid price". "All of the Town's financial instruments are classified as Level 1, including the Town's investments in PPN." "The classification for disclosure purposes has been determined in accordance with generally accepted pricing models, based on discounted cash flow analysis, with the most significant inputs being the contractual terms of the instrument and the market discount rates that reflect the credit risk of counterparties."

    The Corporation of the Town of Whitchurch-Stouffville, Consolidated Financial Statements, December 31, 2025 (KPMG LLP, June 17, 2026) · Note 17, Financial instruments, PDF pages 38 and 39

  3. PPN carrying value $ 30,534,000, fair value $ 32,141,113 (2024: $ 16,963,000 and $ 18,949,980). Unrealized gains (losses), Investments (principal protected notes): (379,866) in 2025 and 1,840,680 in 2024.

    The Corporation of the Town of Whitchurch-Stouffville, Consolidated Financial Statements, December 31, 2025 (KPMG LLP, June 17, 2026) · Note 17, table of carrying and fair values, PDF page 40; Statement of Remeasurement Gains and Losses, PDF page 9

  4. "The Town's investments are risk-managed under the Town's investment policy, which operates within the constraints of the investment guidelines issued by the Ontario Municipal Act and specifically Ontario Regulation 438/97."

    The Corporation of the Town of Whitchurch-Stouffville, Consolidated Financial Statements, December 31, 2025 (KPMG LLP, June 17, 2026) · Note 17, Credit risk and investment policy, PDF page 41

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Good to knowFound by reading the town's documents

Why does the budget book show property tax revenue up 2.55% in 2026 and 7.32% in 2027, when the levy increase is 3.50%?

7.32%projected rise in property tax revenue for 2027, against a 3.50% levy increase in 2026

The Town's executive summary says the Mayor tabled a 3.50% tax levy increase for 2026, and the operating summary gives a net levy increase of $1,661,710. The revenue table in the same book shows "Property Taxation" rising from 51.83 to 53.15 (millions), or 2.55%, for 2026. For 2027 it projects 57.04, a rise of 3.89 or 7.32%. A footnote says the 2027 figure includes "the prior year(s) proposed tax levy increase". The book does not say what increase the 2027 projection assumes, or what explains the 2.55%.

Why it matters

Residents compare tax numbers from year to year. When three figures (3.50%, 2.55% and 7.32%) appear without a bridge between them, it is hard to know what the 2027 increase would be.

It could be because…

  • Tax revenue also rises with new homes and buildings added to the tax roll, so it can rise by more than the levy increase.
  • The book says staff expect to seek capital levy support in future years, which may be in the 2027 figure.
  • The 2027 figures are labelled "projected" and described as "a reference for Council", not a proposal.

Questions you could ask

  1. What levy increase and what assessment growth does the 2027 projection of 57.04 (millions) assume?
  2. Why does "Property Taxation" rise 2.55% in 2026 when the levy increase is 3.50%?

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 Whitchurch - Stouffville? Send us your answer and we will publish it with this question.

The evidence

  1. "On November 5, 2025, Mayor Lovatt tabled a 3.50% tax levy increase." Page 29: "Net levy increase: $1,661,710" and "Tax levy increase: 3.50%".

    Town of Whitchurch-Stouffville, 2026-2027 Operating and Capital Budget (budget book) · Executive summary, PDF page 9; 2026 - 2027 expenses, PDF page 29

  2. Revenue table, "Property Taxation": Dec. 31 2024 actual - 48.65; 2025 budget - 51.83; 2026 approved -53.15, change -1.32, 2.55%; 2027 projected -57.04, change -3.89, 7.32% ($ rounded to millions).

    Town of Whitchurch-Stouffville, 2026-2027 Operating and Capital Budget (budget book) · 2026 - 2027 revenues, PDF page 34

  3. Footnote: "** 2027 Property Taxation include the prior year(s) proposed tax levy increase". Page 25: "The projected 2027 budget is presented as a reference for Council, providing an early indication of future financial needs and priorities."

    Town of Whitchurch-Stouffville, 2026-2027 Operating and Capital Budget (budget book) · Consolidated financial schedule, PDF page 28; Operating budget, PDF page 25

  4. "Looking ahead, staff anticipates seeking capital levy support in future years to further sustain the 10-year capital infrastructure plan and address long-term funding needs."

    Town of Whitchurch-Stouffville, 2026-2027 Operating and Capital Budget (budget book) · Asset management, PDF page 84

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Good to knowFound by reading the town's documents

How much could the Town owe members of Council as retirement allowances if they are not re-elected on October 26, 2026?

$1,440,284accrued salary, benefits and severance payable at the end of 2025 (covers staff as well as Council)

The Town's statements say a 2021 by-law gives every member of Council a retirement allowance of one month's salary for each year of continuous service, up to 12 months, if they are not re-elected. The statements say management estimates the cost and reserves are set aside, but they do not give the amount for Council. They list one combined line, "Accrued salary, benefits and severance payable", of $1,440,284 at the end of 2025, down from $2,714,486, which also covers staff.

Why it matters

Council members approved this rule for themselves, and an election is on October 26, 2026. Residents may want to know what it could cost in a year when members leave. The Town has disclosed the rule in its audited notes, which is why this is a note and not a question about wrongdoing.

It could be because…

  • A retirement allowance of this kind is common and is recorded openly in the notes.
  • The liability can fall when staff severance is paid out, so the drop to $1,440,284 may say nothing about Council.
  • The amount for Council is only known after an election, and reserves have been set aside for it.

Questions you could ask

  1. How much of the $1,440,284 is for retirement allowances to members of Council, and how much is for staff?
  2. What would the allowance cost in total if every member who is eligible is not re-elected, and where in the budget is that paid from?

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 Whitchurch - Stouffville? Send us your answer and we will publish it with this question.

The records that would answer this can be requested: Estimate of retirement allowances under By-law 2021-081-EM, with wording you can copy.

The evidence

  1. "Accrued salary, benefits and severance payable (c)" $ 1,440,284 (2024: $ 2,714,486). Page 29: "In 2021, Council approved By-law 2021-081-EM regarding Councils' retirement allowance, repealing By-law 2002-91-EM and 2003-42-EM. According to the By-law, the amount of retirement allowance payable to all Members of Council is one-month salary per year of continuous service to a maximum payment of 12 months should they not be re-elected. Management estimates future severance, based on service and salary, and reserves are set aside for this purpose."

    The Corporation of the Town of Whitchurch-Stouffville, Consolidated Financial Statements, December 31, 2025 (KPMG LLP, June 17, 2026) · Note 6, Employee benefits payable, PDF pages 27 and 29

  2. "Post employment/severance and WSIB obligation" (2,313,332) (2024: (2,139,611)).

    The Corporation of the Town of Whitchurch-Stouffville, Consolidated Financial Statements, December 31, 2025 (KPMG LLP, June 17, 2026) · Note 9, Accumulated surplus, PDF page 32

  3. Council Representation expenses: 2024 actual 726,271; 2025 budget 793,090; 2026 approved 814,010. Election Management expenses: 2025 budget 10,000; 2026 approved 400,000.

    Town of Whitchurch-Stouffville, 2026-2027 Operating and Capital Budget (budget book) · Council Representation and Election Management, PDF page 69

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