Financial StatementsFinancial statements – 2023 (available in French only)
Summary of Key Financial Points
1. General Operating Fund Surplus: $171,504
- The General Operating Fund recorded a surplus of $171,504 for the 2023 fiscal year, reflecting effective management of resources and operational expenses.
2. Water & Wastewater Fund Deficit: $ 14,878
- The Water and Wastewater Fund shows a deficit of $ 14,878, primarily due to several system breakdowns. Cost management measures will be necessary to address this situation.
3. Transfer to General Capital Reserve Fund: $163,000
- An amount of $163,000 has been transferred to the General Capital Reserve Fund, designated for future capital projects and to strengthen financial capacity for long-term initiatives.
Major Variances between Budget and Financial Statements
1. Hiring Delays and Unfilled Positions:
- Hiring delays and unfilled positions in human resources contributed significantly to the variances between the budgeted amounts and the actual financial statements.
2. Subsidies and Fund Programs:
- Subsidies and fund programs covered part of the budgeted expenses, thereby reducing the initially anticipated financial impact.
3. Interest Received:
- Interest received from a new agreement with UNI Financial Cooperation improved revenues.
4. Reduced Recreational Services Expenditures:
- The recreational services in former local service districts (LSD) did not fully utilize their budget, contributing to additional savings.