PERIOD REPORT
DATE: September 29, 2025 Report No. FIN-25-010
TO: Dan Horan, Chief Administrative Officer
FROM: Ian Irvine, Director of Financial Services
SUBJECT:TITLEFinancial Services and IT Departments - 2025 Second Period ReportBody
The following is a report on the activities pertaining to the Financial Services and Information Technology Departments from May 1, 2025 to August 31, 2025.
I. DIVISION ACHIEVEMENTS AND ACTIVITIES
1. Budgeting, Accounting and Financial Reporting
* The 2024 financial statements were approved by Council in May. The Township's auditors, KPMG, addressed Council regarding the statements and outlined the basis for their clean audit opinion.
* The Township's 2024 Statement of Financial Information (SOFI) was approved by Council in June and was forwarded to the provincial government in advance of the annual statutory reporting deadline.
* The ability to remit amounts to suppliers and other payees via electronic fund transfer (EFT) was implemented. The timing of this initiative was accelerated due to the postal strike in late 2024 and the impact that had on the receipt of vendor invoices and the issuance of cheque payments. To date, approximately 85% of payees have been set up and this number will increase as future invoices are received. Additionally, the process has migrated from a weekly occurrence to a bi-weekly occurrence, making it a more efficient and consistent process.
* In preparation for the 2026-2030 Financial Plan, instructions were provided to all departments to assist with operating and capital budget entry. This is intended to provide sufficient time for the budget consolidation and presentation to Council in October.
2. Property Taxation
The following property tax statistics are analysed each year, and the 2025 results remain consistent with the previous two years.
* Property tax folios fully collected as of July 2 - 71.3%; August 31 - 94.6%.
* Total deferments - 545, including 492 renewals, totalling $2,...
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