Town of Caledon scoops three financial reporting awards
The Town of Caledon won three awards for financial reporting from the Government Finance Officers Association (GFOA) of North America. The awards were given for the 2015 budget, 2014 financial statements and the 2014 popular annual financial report.
“I congratulate and thank our staff on behalf of the municipality,” said Mayor Allan Thompson. “I am extremely proud of their accomplishments. To win three GFOA awards for financial reporting is just fantastic!”
Today, the 2015 Financial Statements, along with a number of financial reports for fiscal 2015, will be presented at Council for review. Within those reports – a couple of which are listed below – highlights include an increase in reserves, a manageable deficit that will be offset by those reserves, and a healthy rate of return on long-term investments.
Healthy returns and sound planning
· The Treasurer’s Investment Report highlights the Town’s investment activity in 2015, including returns of 2.27% on long-term investments.
· The Town’s Reserve Fund Report outlines the year-end balances in the Town’s reserve funds from 2010 to 2015. With an overall reserve balance of $32.2 million in 2010, the Town’s reserves have increased to $96.2 million as of December 31, 2015 with significant growth in development charge reserve funds, asset replacement reserves, and contingency reserves.
The Town remains committed to providing transparent and understandable financial information to all Town of Caledon stakeholders. The Town will be submitting its 2015 Financial Statements for an award again this year. To view the award-winning reports, caledon.ca/budget