Title
2025 Draft Q4 Financial Statements, Carryforward Approval, Restricted Surplus Transfers, and Allowance Transfers
Proposed Motions
1. That the 2025 Q4 Financial Update be received for information, as presented.
2. That the Draft December 31, 2025 Financial Statements be received for information, as presented.
3. That Council direct Administration to carryforward incomplete programs and tax-funded projects in the amount of $1,656,751 to 2026 as presented.
4. That Council direct Administration to transfer $6,609,785 of 2025 tax surplus to restricted surplus, including $1,489,679 of tax-funded incomplete programs and projects, as presented.
5. That Council direct Administration to decrease the Allowance for Uncollectible Accounts by $4,060.
6. That Council direct Administration to reallocate $20,000 from Parks Lifecycle to Future Operating in 2025.
7. That Administration be directed to transfer the remaining 2025 surplus to Long Term Sustainability.
Body
Administration Recommendation
Administration supports the proposed motions.
Purpose
To provide Council with the draft financial statements as at December 31, 2025, and to obtain approval for restricted surplus transfers and carryforward programs and projects. Funds approved will be carried forward into future budget years.
Summary
As part of the 2025 year end process, projects are reviewed to determine if any were not completed and are to be completed in 2026, if additional funding is available or required, and if any future needs are identified requiring restricted funds to be allocated. The balance in Allowance for Uncollectible Accounts are also assessed to provide for accounts deemed uncollectible.
The financial statements will be available once they have been audited and approved by in April.
Attachment 1 includes the Year End Financial Update, Restricted Surplus Update, and Carryforward Presentation.
Attachment 2 includes the Draft Q4 2025 Financial Statements.
Attachment 3 includes the ...
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