TAMRMS#: B06
4.2
REQUEST FOR DECISION
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Preliminary Year End Surplus & Reserve Transfer
Presented by: Stanley Chan, Manager of Financial Operations and Reporting, Finance and Strategic Services
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RECOMMENDED MOTION(S)
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That the 2025 Municipal operating surplus, estimated to be $3,560,569, be allocated as follows: $1 Million to the Stabilization reserve and the remaining balance to the Capital Reserve.
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SUMMARY
The purpose of this report is to bring forward the City's 2025 preliminary year end position, and to make a recommendation for disposition of the operating surplus.
ALIGNMENT TO COUNCIL DIRECTION OR MANDATORY STATUTORY PROVISION
Annual audited financial statements are required to be submitted to Municipal affairs by May 1st of each year.
BACKGROUND AND DISCUSSION
Administration is currently finalizing the 2025 financial statements. Upon completion of the audit, the final 2025 financial statements will be presented to Council for review and approval on April 17, 2026, with a complete explanation of the financial results.
Based on preliminary review, Administration anticipates reporting a municipal operating surplus of approximately $3,560,569, which is 1.46% of the 2025 approved budget.
2025 Preliminary Operating Surplus $3,500,000
2025 Municipal Operating Budget $240,133,200
Over the next several weeks, there will be some adjusting entries that may impact the final operating position. The surplus is reflective of all carryforwards being requested for approval by Council. These adjustments will be finalized as accounting cut-off dates are realized and further direction regarding various issues is received from the Auditors. Further details of the City's year end position are provided in the 4th Quarter Report, which is being presented concurrently with this report.
In the past, surplus funds have been transferred to either the Stabilization Reserve or Capital Reserve.
10% of the 2025 Municipal Operating ...
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