REQUEST FOR DECISION
DATE: April 30, 2018 Report No. FIN-18-008
TO: Laurie Hurst, Chief Administrative Officer
FROM: Ian Irvine, Director of Financial Services
SUBJECT:
Title
2017 Audited Financial Statements
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RECOMMENDATION:
Recommendation
That Council approve and receive the Township's audited financial statements for the year ended December 31, 2017 attached to Staff Report FIN-18-008.
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RELEVANT POLICY:
Community Charter s171
STRATEGIC RELEVANCE:
The request for decision does not relate to any specific strategic priority or objective.
BACKGROUND:
At the end of each fiscal year the Financial Services department completes the required analysis, compiles an audit file and prepares financial statements which satisfy the criteria set out by KPMG, the Township's auditors. This year the annual audit work was conducted during March and April with the statements finalized on April 17, 2018. As a result of their fieldwork and testing, the auditors indicated no significant issues were noted and no material adjustments were required.
In the auditor's opinion, the financial statements were prepared in compliance with legislation and in accordance with Canadian public sector accounting standards. As well, the statements fairly present the financial position and operational results of the Township for the year ended December 31, 2017.
ISSUES:
1. Rationale for Selected Option
The Community Charter requires the auditor of the municipality to report to Council on the annual financial statements.
2. Organizational Implications
There are no organizational implications of this decision.
3. Financial Implications
There are no financial implications of this decision.
4. Sustainability & Environmental Implications
There are no sustainability or environmental implications of this decision.
5. Communication & Engagement
The audited financial statements will form part of the 2017 Annual Report. This report will be available for vie...
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