2025 STATEMENT OF FINANCIAL INFORMATION

Origin Section 2(2) and (3) of the Financial Information Act states that a municipality must prepare the “Statement of Financial Information” within six months of the end of each fiscal year. Furthermore, Section 9(2) of the Financial Information Regulation requires that the statement be approved by its Council and by the officer assigned responsibility for financial administration under the Local Government Act. The following statements and schedules of financial information must be prepared: e astatement of assets and liabilities; © an operational statement; e aschedule ofdebts; e aschedule of guarantee and indemnity agreements; e aschedule showing remuneration and expenses paid to or on behalf of each employee as required by the Act; e aschedule showing the payments for each supplier of goods and services; e aschedule ofgrants and subsidies. The current prescribed amounts for the purpose of reporting under the Financial Information Regulation for employee remuneration/expenses and payments to suppliers are $75,000 and $25,000 respectively. Analysis Sections | to 4 of the required schedules for the Statement of Financial Information are captured in the City’s 2025 audited consolidated financial statements. There were no guarantee and indemnity agreements provided under the Guarantees and Indemnities Regulation (BC Reg. 258/87) reported for Section 5.

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