TOWNSHIP OF ESQUIMALT MEMORANDUM
MEETING DATE: May 4, 2026 Report No. FIN-26-011
TO: Council
FROM: Kristi Bilodeau, Manager of Financial Services
SUBJECT: 2025 Audited Financial Statements
INFORMATION:
Each year, the Financial Services Department compiles an audit file and prepares the financial statements to be audited by an external auditor. The Township’s current appointed external auditor is KPMG.
In accordance with the Community Charter Sections 167 and 171, the auditor is required to report to Council on the annual financial statements and Council is required to accept the annual audited financial statements that are prepared in accordance with generally accepted accounting principles for local governments. The audited financial statements are required to be submitted to the Province of BC by May 15 each year.
This year’s audit was conducted during March and April 2026, with the financial statements being finalized shortly thereafter. Based on fieldwork and testing, the auditors did not identify any significant or material errors. In their opinion, the financial statements attached to this report are prepared in accordance with Canadian Public Sector Accounting Standards. They are also of the opinion that the financial statements fairly present the financial position and operating results of the Township for the year ended December 31, 2025.
Staff recommend that Council accepts the 2025 audited financial statements for the year ended December 31, 2025.
RECOMMENDATION:
Recommendation
That Council accept the 2025 audited financial statement for the year ended December 31, 2025, as attached to Staff Report No. FIN-26-01.
Body
REVIEWED BY:
1. Ian Irvine, Director of Finance, Reviewed
2. Deb Hopkins, Director of Corporate Services, Reviewed
3. Dan Horan, Chief Administrative Officer, Concurrence
LIST OF ATTACHMENTS:
1. 2025 Audited Financial Statements
2. 2025 Audit Findings Report