The Town of Gravenhurst remains in a “healthy and stable financial position” following its 2025 audit.
According to a report presented by Wayne Campbell, the Town’s Director of Financial Services, during the July 21 committee of the whole meeting, Gravenhurst continues to maintain positive net financial assets and reduce its external debt.
Campbell said the audit, conducted by Pahapill and Associates Professional Corporation, the Town’s external auditor, showed an operating surplus of $817,164 as of May 2025 on a modified accrual basis.
Since then, he said the Town allocated $217,164 of the surplus to the Tax Stabilization Reserve to replenish funds used to cover the previous year’s deficit, while the remaining $600,000 was allocated to the Community Reinvestment Reserve.
The report also highlights significant investments in municipal infrastructure and strong investment income.
Campbell said that while the annual surplus increased significantly from the previous year, it is important to recognize that the result includes several non-cash items, most notably contributed tangible capital assets.
Additionally, he said the reported annual surplus should not be interpreted as additional cash available for future spending but rather reflects the Town’s overall financial position in accordance with Public Sector Accounting Standards.
The report states the Town will continue investing in capital assets and maintaining existing infrastructure to ensure high-quality municipal services for residents while maintaining a financially responsible approach.
