Financial Reporting

Financial Reports


After the end of the year, the District's financial statements are prepared by staff and are audited by an independent accounting firm. By June 30th in each year, a municipality must hold a council or other public meeting for the purpose of presenting the statements. Notice of this meeting is given by publication in the local paper.

2018 Financial Statements



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- 2018 Financial Statements
- 2018 Statement of Financial Information

2017 Financial Statements



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2017 Financial Statements
2017 Statement of Financial Information

2016 Financial Statements



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2016 Financial Statements
2016 Statement of Financial Information

2015 Financial Statements



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2015 Financial Statements
2015 Statement of Financial Information


2014 Financial Statements



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2014 Financial Statements
2014 Statement of Financial Information


2013 Financial Statements



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2013 Financial Statements
2013 Statement of Financial Information


2012 Financial Statements



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2012 Financial Statements
2012 Statement of Financial Information


2011 Financial Statements



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2011 Financial Statements
2011 Statement of Financial Information


2010 Financial Statements



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2010 Financial Statements
2010 Statement of Financial Information


2009 Financial Statements



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2009 Financial Statements
2009 Statement of Financial Information


Additional information is available a the District Office.

Additional Resources 

  1. Financial Plan 2019
    Asset Management Plan 
    Long Term Financial Plan
    Sustainable Highlands
    Strategic Plan 



    Long Term Financial Framework 

    The municipality has a long-term financial framework focused on five areas:

    1. Recognized value for services
    2. Predictable infrastructure investment
    3. Competitive property taxes
    4. Responsible debt management
    5. Improved reserves and reserve funds

    Financial stability is fundamental to the health of the community. Only with stable and sufficient revenues, and careful planning of expenditures, will the District be able to provide the important services residents need and enjoy.

     

    Annual Budget and Five-Year Financial Plan

    Every year, we develop an annual budget outlining how tax dollars are invested to support our businesses and residents. We include a five-year balanced financial plan to guide our strategic investments and service plans while keeping property tax, utility fees, and user fees affordable over the long term.

    To balance the budget, we carefully analyze the level of services required to meet the expectations of the community, and we balance those against realistic taxation and user fees levels.

     

    Sustainable Infrastructure Replacement 

    A challenge facing our community is that many of our existing assets were constructed in the 1970s with significant funding support from senior levels of government. These assets will need replacing in the coming decades, and a renewal investment is required to maintain service to the community and protect the next generation. Council recently approved a long-term approach to gradually reach sustainable infrastructure replacement levels within fifteen years. We expect to use a gradual approach to increase the annual $4.2 million of capital investment to the minimum $6.2 million sustainable infrastructure replacement level.

    To achieve this goal, we have the following in place:

    •  Asset Levy: A separate Asset Levy was established in 2017 to clearly identify infrastructure funding for taxpayers. 
    • General Capital Program: A fifteen-year plan to increase infrastructure spending equal to 1.25% property tax increase to average homeowner each year. ($25 dollars per year to average home)
    • Water System: A ten-year plan to increase infrastructure spending equal to 1.50% water utility rate increase to average homeowner each year. ($8 dollars per year)
    • Sewer System: A fifteen-year plan to increase infrastructure spending equal to 5% sewer utility rate increase to average homeowner each year. Some debt financing will be required to bridge the first few years as funding is gradually increased and we begin replacement of aging sewer mains and lift stations. ($13 dollars per year)
    Budget FAQs
    How do I have input into the budget?
    How do you fund the budget?
    How do you build the budget?
    Can you incur debt?