2025 CONSOLIDATED FINANCIAL STATEMENTS

The consolidated financial statements include the following statements:  Consolidated Statement of Financial Position summarizes the assets (financial and non-financial), liabilities, net debt and accumulated surplus as at December 31, 2025 and 2024.  Consolidated Statement of Operations outlines revenues, expenses, surplus for the year and accumulated surplus at year-end. This statement reflects the combined operations of the general, utility, capital and reserve funds for the City and its consolidated entities.  Consolidated Statement of Changes in Net Financial Assets outlines the changes in net financial assets as a result of annual operations, tangible capital asset transactions, as well as changes in other non-financial assets.  Consolidated Statement of Cash Flows summarizes the City’s cash position and changes during the year by outlining the City’s sources and uses of cash.

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