REQUEST FOR DECISION
DATE: May 25, 2020 Report No. FIN-20-010
TO: Laurie Hurst, Chief Administrative Officer
FROM: Ian Irvine, Director of Financial Services
SUBJECT:
Title
2019 Audited Financial Statements
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RECOMMENDATION:
Recommendation
That Council receive and approve the Township's audited financial statements for the year ended December 31, 2019 as attached to Staff Report FIN-20-010.
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RELEVANT POLICY:
Community Charter s.171
STRATEGIC RELEVANCE:
This request for decision does not relate to any specific 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 work was conducted during March and April with the statements finalized on April 17, 2020. As a result of their fieldwork and testing, the auditors noted no significant issues and no material unadjusted errors were identified.
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, they are of the opinion that the statements fairly present the financial position and operational results of the Township for the year ended December 31, 2019.
ISSUES:
1. Rationale for Selected Option
The Community Charter requires the auditors of each 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 Township's 2019 Annual Report. Typically this repor...
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