HomeMy WebLinkAbout2025 Annual Report2025
ANNUAL FINANCIAL REPORT
1
For the year endingDecember 31, 2025
COUNTY OF NEWELL
ALBERTA, CANADA
County of Newell, Alberta, Canada
2025
Annual Financial Report
For the fiscal period ending
December 31, 2025
Produced by the Finance Department in cooperation with
all County Departments
For information on Programs and Services, or to obtain a
copy of this document, contact:
Administration
Telephone: 403-362-3266
Email: administration@newellmail.ca
The 2025 Annual Financial Report is available online at
www.countyofnewell.ab.ca
Cover Photo: Whispy Wheat Field by Tammy Karasek
Cover and other credited photos used throughout this document were
submitted to the #myCountyofNewell photo challenge through
Newell Connect.
2
SECTION 1
Introduction
SECTION 3
Financial & Statistical Section
TABLE OF CONTENTS
2025 Annual Financial Report
Vision and Mission ............................................................................................................................................... 5
Guiding Principles .................................................................................................................................................. 6
County Profile ............................................................................................................................................................. 7
County Council .......................................................................................................................................................... 9
Organizational Chart ....................................................................................................................................... 10
GFOA Canadian Award for Financial Reporting .................................................................. 11
Message from the Reeve .............................................................................................................................. 12
Report from the Controller ........................................................................................................................... 17
Agricultural Services Report ...................................................................................................................... 29
Municipal Services Report ........................................................................................................................... 34
Planning & Development Report .......................................................................................................... 38
SECTION 2
Consolidated Financial Statements
Independent Auditors’ Report .................................................................................................................. 43
Management’s Responsibility for the Consolidated Financial Statements . 45
Consolidated Statement of Financial Position .......................................................................... 46
Consolidated Statement of Operations .......................................................................................... 47
Consolidated Statement of Remeasurement Gains and Losses ........................... 48
Consolidated Statement of Change in Net Financial Assets ...................................... 49
Consolidated Statement of Cash Flows .......................................................................................... 50
Notes to Consolidated Financial Statements .............................................................................. 51
Schedule of Segmented Disclosures .................................................................................................. 68
Schedule of Tangible Capital Assets ................................................................................................... 69
Demographics & Other Statistics .......................................................................................................... 70
Expenses by Object ............................................................................................................................................. 72
Expenses by Function ......................................................................................................................................... 74
Revenues by Source ............................................................................................................................................ 75
Capital Expenditures - by Group ............................................................................................................ 76
Capital Expenditures - by Function ....................................................................................................... 77
3
INTRODUCTION
SECTION ONE
2025 Annual Financial Report 4
To encourage and attract
sustainable growth and
support a high quality of life.
Vision
Rebecca Arndt Tammy Karasek
Lena Neufeld
2025 Annual Financial Report
Mission
Through leadership, partnership.
and effective policy, the County
provides services, structure, and
stability to its residents.Leslie Smith
MISSION & VISION
Danielle LaPointe
5
Seek cooperation
with individuals,
governments
& organizations
Strive for long-term
financial stability
Preserving land for
agriculture
Plan for future growth
& development
Support development
& sustainability of
strong infrastructure
Provide consistent
& efficient services
Promote open
communication between
staff, Council
& public
2025 Annual Financial Report
GUIDING PRINCIPALS
6
2025 Annual Financial Report
The County of Newell is a rural municipality
located central to Calgary, Medicine Hat, and
Lethbridge with less than 190 kilometers of
separation between each city. The County is a
growing transportation hub with the TransCanada
(Highway #1) and Highway #36 intersecting within
our boundaries. CP Rail’s mainline runs through the
County on its track from Montreal to Vancouver,
and our geographical position provides ease of
access to the oil sands to the north and the United
States to the south, creating an ideal trade location
for businesses.
The population of the Newell region, inclusive of
our urban counterparts, is over 25,000. The
largest urban communities in the region are the
City of Brooks and the Town of Bassano. We have
positive working relationships with these urban
neighbours, which improves the quality of services
provided to all Newell residents.
The County is home to the Eastern Irrigation District
(EID), which provides an extensive water supply,
storage, and drainage network throughout the
region. Water diverted from the Bow River at the
Bassano Dam provides for irrigated agriculture,
industrial, household and livestock use, as well as
many recreational opportunities and enhanced
environmental conditions.
The County has a dynamic and diverse economy
driven by three pillars: Agriculture, Oil and Gas, and
Tourism. There are approximately 500 primary
agricultural producers in the County, and
approximately 1,500 non-agricultural business
enterprises.
The region boasts extraordinary crop quality with
over 300,000 acres of irrigated farmland,
600,000 acres of cultivated dry land, and
600,000 acres of native and improved rangeland.
We are home to some of the most profitable farms
in Alberta.
COUNTY PROFILE
L. Clancy
Tammy Karasek
7
County Hamlet Populations
Bow City 16
Cassils 22
Gem 29
Lake Newell Resort 437
Patricia 101
Rainier 22
Rolling Hills 273
Scandia 169
Tilley 318
Total 1387
1. TORXEN ENERGY LTD.
2. CANADIAN NATURAL RESOURCES LTD.
3. NGTL GP LTD.
4. ATCO ELECTRIC LTD.
5. JBS FOOD CANADA ULC.
6. CARDINAL ENERGY LTD.
7. ALTALINK MANAGEMENT LTD.
8. FOOTHILLS PIPE LINES (ALTA) LTD.
9. IPC CANADA LTD.
10. ASTARA ENERGY CORP
TOP 10 TAX PAYERS
Population (2025): 7846
Unemployment Rate (2021): 7%
Increase in population from 2021: 1.08%
Median Household Income (2023): $101,060
Median Age (2021): 39
Number of Farms: 727
A fourth sector, utility scale renewable energy
facilities, are beginning to emerge within the County
with solar projects at varying stages that range
from application submitted through to fully
constructed operational facilities.
The County has one of Alberta’s most active natural
gas fields; there are roughly 20,400 wells, which
accounts for almost 9% of all wells in Alberta.
Key tourism anchors include Lake Newell Reservoir
- one of Canada’s largest man-made lakes,
Dinosaur Provincial Park - a UNESCO World
Heritage Site, and recreation activities as diverse
as golfing, boating, camping, fishing, hunting, and
wildlife watching.
2025 Annual Financial Report
Leslie Smith
8
Neil Johnson
403-793-4206
johnsonn@newellmail.ca
DIVISION 7
North & East of Brooks
Ben Hofer
403-793-0457
hoferb@newellmail.ca
DIVISION 8
Duchess
Arno Doerksen - Reeve
403-363-0253
doerksena@newellmail.ca
DIVISION 9
Gem/Rosemary
Kelly Christman - Deputy Reeve
403-793-0014
christmank@newellmail.ca
DIVISION 6
Bassano
Holly Johnson
403-363-4701
johnsonh@newellmail.ca
DIVISION 4
Scandia/Rainier/Bow
City/Cassils
Dan Baumgarten
403-829-7608
baumgartend@newellmail.ca
DIVISION 1
Rolling Hills
Adena Skanderup
403-633-2224
skanderupa@newellmail.ca
DIVISION 2
Tilley
Lynette Kopp
403-363-5677
koppl@newellmail.ca
DIVISION 3
Patricia/Millicent
Greg Skriver
403-409-4281
skriverg@newellmail.ca
DIVISION 5
South of Brooks/Lake
Newell Resort/
Kinbrook
2025 Annual Financial Report
COUNTY COUNCIL
9
Chief
Administrative
Officer
Executive
Assistant
Manager of
Personnel &
Safety Services
Reeve
&
Council
Director of
Agricultural
Services
Manager of
Agricultural
Services
Manager of
Parks & Facilities
CDC SouthProject Coordinator
Director of
Municipal
Services
Municipal
Enforcement
Supervisor
Manager ofPlanning,Development &EngineeringServices
Manager of
Operations
Director of
Corporate
Services
Corporate
Services
Supervisor
Controller
Newell Regional
Fire Chief
Director of
Information &
Technology
Services
Information &
Technology
Supervisor
Communications
Officer
ORGANIZATIONAL CHART
2025 Annual Financial Report 10
2025 Annual Financial Report
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a
Canadian Award for Financial Reporting to County of Newell for its annual financial report for the
fiscal year ended December 31, 2024. The Canadian Award for Financial Reporting program was
established to encourage municipal governments throughout Canada to publish high quality
financial reports and to provide peer recognition and technical guidance for officials preparing
these reports.
To be awarded a Canadian Award for Financial
Reporting, a government unit must publish an
easily readable and efficiently organized annual
financial report, whose contents conform to
program standards. Such reports should go
beyond the minimum requirements of generally
accepted accounting principles and
demonstrate an effort to clearly communicate
the municipal government’s financial picture,
enhance an understanding of financial reporting
by municipal governments, and address user
needs.
A Canadian Award for Financial Reporting is
valid for a period of one year only. We believe
our current report continues to conform to the
Canadian Award for Financial Reporting
program requirements, and we are (will be)
submitting it to GFOA to determine its eligibility
for another award.
GFOA CANADIAN AWARD FOR FINANCIAL REPORTING
11
Our primary responsibility as a Council is to set the overall
direction for the County of Newell while considering all
aspects of the municipality to ensure we maintain safe and
sustainable communities for our constituents. We do this by
developing and evaluating our programs and policies to
ensure that they are operating in the best interests of
County residents. In October of 2025, Council began the first
year of a four-year term with two new Councillors, and has
recently completed a strategic planning session to set the
priorities for this term.
Several items identified by previous Council have been
completed, and significant progress has been made towards
achieving other goals that have been reaffirmed as
priorities. Here are some of the highlights from 2025.
The Municipal Election in October 2025 and electoral
division boundary changes resulted in some changes to
County Council. Three Council members chose not to run
again – we thank Councillors Dan Short, Ellen Unruh, and
Amanda Philpott for their years of service and wish them
the best in their future endeavors. Councillors Dan
Baumgarten (acclaimed), Division 1 – Rolling Hills and
Benjamin Hofer (elected), Division 8 - Duchess were
welcomed to Council and introduced to the public via
livestream during the October 30, 2025 Organizational
Meeting.
Council is proud of the strong regional collaboration we’ve
built and the positive relationships we continue to
maintain with our urban neighbours. The former Joint
Services Committee has been reconstructed into the
Intermunicipal Affairs Committee with a Terms of
Reference outlining objectives that include collaboration,
strengthening positive intermunicipal relations, discussing
matters of mutual interest, and communicating each
municipality’s unique priorities and challenges. The
Intermunicipal Affairs Committee will provide a shared
forum for delegations to present matters of common
interest to all participating municipalities, rather than
meeting with each Council separately. Another goal is to
provide regional training opportunities, which started off
strong with a Council orientation by George Cuff
immediately following the Municipal Election.
2025 Annual Financial Report
A MESSAGE FROM THE REEVE
Tammy Karasek
12
Efforts to revitalize the Crop Diversification Centre South started with a dedicated Projects Coordinator
hired in January 2025 to manage the initiative and the progress has been impressive. Significant
renovations and clean up were required to get the facilities ready for future tenants and by the end of
2025, several office and greenhouse spaces were occupied with formal agreements in place. The CDC
South has received significant attention from the media and is well on its way to reclaiming its status as a
center for agricultural research and innovation. Council is pleased with the progress made by the County’s
Agricultural Services department, and we look forward to what the future may bring. More information
and updates can be found at https://countyofnewell.ab.ca/cdcsouth.
2025 Annual Financial Report 13
Photos courtesy of Brooks Newell Region
During a review of Agricultural Services policies in February, the 100 Year Farm Awards program was
discussed. The recommendation from staff was to rescind the policy as the program had been in place for
approximately twenty years with no applications ever having been received.
Each family was invited to a Council meeting where
they were presented with a commemorative award
and asked to share some history about their farm.
2025 Annual Financial Report
Instead of discontinuing the program, Council provided
direction that the 100 Year Farm Awards be
advertised to the public. As a result, we were able to
celebrate families who have been farming in the
County of Newell for 100 or more years.
14
2025 Annual Financial Report
While celebrating the past is important, so too is
ensuring we are prepared for the future of our
communities. The County’s Fire & Emergency Services
Department expanded with the addition of the
Newell Regional Deputy Fire Chief position who assists
the Newell Regional Fire Chief with inspections and
day-to-day activities. A request from the City of
Brooks to join the Newell Regional Emergency
Advisory Committee was also approved, joining the
County, Town of Bassano, and the Villages of Duchess
and Rosemary, allowing for coordinated efforts in
emergency prevention, mitigation, preparedness,
response, and recovery.
At the request of the Alberta Emergency
Management Agency, a Special Meeting of Council
was held in May, where they approved the
deployment of County fire personnel and equipment
to assist with wildfires in Northern Alberta.
Alongside these efforts to keep our communities safe,
Council continues to support the programs and
spaces that bring people together.
The Recreation Facility Improvement policy was
updated to include definitions for urgent and
emergency situations, and funding applications must
include clear budgets with specific funding sources
and usage statistics wherever possible. Funding
applications approved under this policy in 2025
include the upgrade and/or replacement of the ice
plants at the rinks in Duchess, Rolling Hills, and
Rosemary. Council also approved Regional
Enhancement Reserve funding to install new lockers
at the JBS Canada Centre in the City of Brooks.
Recreation is an important part of life in our region,
and we are working toward sustainable funding for
facilities and services. Ian McNiven
We also strive to provide consistent funding for
recreation providers through Recreation Service
Agreements with our urban municipal partners and
local agricultural societies. For the most part,
recreation services in the County are provided by
volunteers, and we are so appreciative of their efforts.
Several major infrastructure projects made progress
in 2025. The Lake Newell Resort Pathway project
was awarded, and significant progress was made
towards its construction. Once completed, this
pathway will directly connect to the Kinbrook
Connection Pathway, expanding recreational
opportunities for both residents and visitors by
enhancing access to our region’s natural beauty. In
addition, the 2025 Street Improvement Program at
Lake Newell Resort included major infrastructure
upgrades to Blue Heron Drive (Block 1) and White
Pelican Way (Block 4), as engineering assessments of
road conditions, drainage, and underground
services, deemed these roadways as having
reached end of life.
15
2025 Annual Financial Report
Council has many opportunities throughout the year to meet with neighbouring municipalities and
representatives from other levels of government to bring attention to issues and topics that are unique to
our region. This year, the County’s own Councillor Kelly Christman was elected to the Rural Municipalities
of Alberta Board of Directors representing District 1 (southern Alberta). Preventing the spread of aquatic
invasive species is important to maintaining the health of our irrigation systems, so Council provided a
letter encouraging the province to install boat dip tank technology to prevent contaminated watercraft
from entering our waters. Other letters were provided in support of:
widening SH873 south of Brooks to PR103
the development of additional rental housing units in Brooks by the Brooks Housing Society
expansion of the Silver Sage grounds
construction of a building to house antique tractors at the Brooks & District Museum and
Historical Society
Council would like to recognize and thank the dedicated staff of the County of Newell for their continued
service. Under the leadership of CAO Matt Fenske, their commitment and professionalism provide a strong
foundation for the work we do and the services we deliver.
We also remain committed to open and transparent communication with our residents. Whether through
Council meetings, community engagement, or direct conversations, we value your input and encourage you
to stay connected and involved.
It is together that we continue to build a strong, resilient, and connected County of Newell.
The County also joined as a project partner for a Regional Transportation Study initiated by the City of
Brooks.
16
Tammy Karasek
2025 Annual Financial Report
Introduction
Consolidated Statement of Financial Position
The County improved its already strong financial position in 2025. Financial assets increased by $8.3
million, while liabilities decreased by $1.1 million, resulting in an overall increase in net financial assets of $9.4
million. Cash and cash equivalents increased by $2.83 million due to the increase in funds held in the
current account and temporary investments. Investments increased by $4.17 million related to the increase
in the long-term portfolio. Trade and other receivables increased by $1.07 million due to a significant
outstanding receivable from the Province. Unearned revenue decreased $1.49 million due to a decrease in
deferred tax revenue and grant funds awarded for capital projects that were recognized as revenue in
2025. Non-financial assets, which consist primarily of tangible capital assets and inventory for
consumption, increased by $6.27 million. The changes in net financial assets and non-financial assets
resulted in a net $15.63 million increase in the accumulated surplus.
Consolidated Statement of Operations
REPORT FROM THE CONTROLLER
The annual financial report provides readers with an opportunity to assess the County’s financial activities
and available resources. It also provides an opportunity to analyze and comment on the principal features
of the financial information contained in the 2025 audited Consolidated Financial Statements, and to
highlight key financial results that occurred during the year. Management at the County of Newell is
responsible for the information contained in the annual financial report.
2025 FINANCIAL HIGHLIGHTS
Overall revenues were $4.02 million higher than
projected coming in at 109.5% of budget, which
was an increase of $1.89 million over 2024.
Noteworthy items on the revenue side included
return on investments that was $2.43 million
more than budget and $560 thousand less than
2024 investment income earned. Special levies
were $604 thousand more than budget and
$1.355 million more than 2024 due to local
improvement levies recognized in 2025. Net
property taxes increased over 2024 by $826
thousand due in part to a $1.34 million increase
in property tax revenue over that generated in
the previous year combined with an additional
$571 thousand in requisitions submitted.
17
Catherine Siakaluk
2025 Annual Financial Report
While overall expenses were $2.59 million lower than projected (92.95% of budget), they were higher than
2024 levels by $1.61 million. Staffing costs were slightly under budget but were $687 thousand higher than
previous year due to cost-of-living adjustments approved during the year and the addition of new positions
in 2025. Contracted services came in under budget and $239 thousand above 2024 due to an increase in
conference and membership fees, an increase in IM professional services as well as a decrease in contracted
repairs and maintenance. Materials, goods supplies and utilities were under budget, but higher than the 2024
amount by $221 thousand, primarily due to an increase in electricity costs and an increase in water usage
with the completion of the water project and additional meters hooked up.
Administrative expenses in 2025 were lower than budget and the previous year due to lower-than-expected
IM professional services, IM hardware and IM software costs.
Roads, streets, walks and lighting expenses were lower than budget by $1.07 million due to lower-than-
expected gravel and paved road maintenance costs, fuel costs and gravel usage. Expenses for 2025 were
lower than 2024 due to a decrease in costs for bridge materials; decrease in operating costs for vehicles and
machinery which includes fuel, repairs and maintenance; and there was an increase in staffing costs due to
cost-of-living adjustments.
Disaster and Emergency Services expenses for 2025 were higher than 2024 due to an increase in staffing
costs with the addition of the Deputy Fire Chief position and one time contribution to other local government
agencies.
Subdivision land and development expenses for 2025 were higher than 2024 by $1.132 million due to the
County assuming operation of the Crop Diversification Centre (CDC) in April 2025.
The County processed payments in the amount of $735 thousand in 2025 to the Province for policing costs.
The final outcome was that the County ended 2025 with an Annual Surplus of $15.63 million.
Bill ChristiansonBryce UrzadaLaurie Baron
18
2025 Annual Financial Report
Consolidated Statement of Change in Net Financial Assets
Consolidated Statement of Change of Cash Flows
Budget Process
Accounting Procedures
The County’s accounting system and related
internal controls are designed to provide
reasonable assurance that financial records are
complete and accurate, and that assets are
safeguarded against loss from unauthorized use
or disposition. The County’s Purchasing and
Budget Variance policies ensure that controls and
reporting requirements are appropriate.
Generally accepted accounting principles for
local governments are adhered to. External Audit
Net financial assets increased by $9.4 million, for a total of $158 million in net financial assets at the end of the
year. This indicates the County can afford to settle its liabilities and is positioned well for replacing or
rehabilitating its tangible capital assets as they reach the end of their useful lives.
Cash and cash equivalents increased by $2.83 million in 2025. Operations generated cash of $26.2 million
with $15.08 million allocated to purchase tangible capital assets, $4.17 million was invested in interest
generating instruments and $733 thousand was added to long term debt which included $825 thousand
debt received and $92 thousand was applied to pay down debt.
MANAGEMENT REPORTING AND CONTROL
The major components of the County’s financial management and control programs include the budget
process, accounting procedures, external audit, and various policies which are described below.
On an annual basis, Council considers a proposed operating budget and a ten-year capital forecast and
adopts the operating and capital budgets for the coming year. The budget process involves Council,
Department Heads, Staff and input from the public. Council approves the budget taking into account current
economic conditions, provincial policy changes and service needs within the County. It should be noted that
under provincial legislation, sufficient revenues must be raised to meet all budgeted expenditures.
After the budget is adopted by Council, expenditures are controlled against budget by formal policies and
financial systems designed specifically to prevent budget overruns.
Council is required by the Municipal Government Act to
engage independent auditors to express an opinion as
to whether the County’s financial statements present
fairly, in all material respects, the County’s operating
results and financial position. The auditors have full
and free access to all County records, and they meet
periodically with staff to discuss matters arising from
the audit or from new policies and procedures. The
auditors also provide the County with a management
letter that comments on internal controls.
Gail Volek
Natalie Sturch
19
2025 Annual Financial Report
While Council engages an independent auditor to express an opinion on the financial statements, the County’s
management is responsible for the preparation of the financial statements and the integrity and objectivity of
the financial information and representations contained in the financial statements.
Purchasing Policy
The County ensures that consistent procedures are followed for purchases through Purchasing Policy 2018-
PAD-051 which sets expenditure limits for the County. The policy ensures that items purchased have been
approved through the budget process or by separate resolution of Council.
Investment Policy
The County’s excess funds are invested in accordance with Investment Policy POL-052-24. This policy has as
its objectives, the preservation of capital, maintenance of liquidity and the realization of a competitive rate of
return. Municipal investments are governed by restrictive legislation under the Municipal Government Act.
The County’s investment policy meets all of these requirements.
Restricted Surplus Policy
The County has established specific restricted surplus funds, through Restricted Surplus Policy POL-014-025, to
provide for emergent financial needs, stabilize tax rates, set aside funds for the replacement of vehicles,
machinery, equipment, infrastructure and facilities and to minimize its financing needs. Maintaining financial
health and stability is the guiding principle behind this policy.
FINANCIAL INDICATORS DISCUSSION AND ANALYSIS
The 2025 Consolidated Financial Statements are prepared in compliance with Public Sector Accounting
Standards (PSAS). While the consolidated financial statements provide a snapshot of the County’s financial
position at year end (December 31), including results of operations and changes in cash flow and net assets,
they do not present a complete picture of the County’s overall financial health. They also do not indicate how
well the County is performing in relation to its broader economic and fiscal environment.
The Annual Financial Report seeks to expand on and explain information in the financial statements by
applying PSAS’s Statement of Recommended Practices (SORPs), specifically SORP-4 Indicators of Financial
Condition. This information may help financial statement users better understand the risks facing the County
in maintaining the programs and services it currently provides, as well as the policy and operational decisions
it must make in light of its financial health.
This SORP does not form part of the generally accepted accounting principles (GAAP) and there is no
requirement for governments to implement its recommendations. Although there are numerous indicators to
assess a government’s financial condition, SORP-4 recommends that at a minimum, indicators related to
sustainability, flexibility, and vulnerability be considered. Definitions of these indicators follow, as well as a
selection of indicators related to each.
20
Annual Surplus or Deficit
2025 Annual Financial Report
SUSTAINABILITY
Sustainability measures the County’s ability to maintain its existing programs and services, including
maintaining its financial obligations to creditors, without increasing its debt or raising taxes. The following
indicators have been selected to assess sustainability.
This annual result indicates the extent to which the County’s revenue is more than its expenses during that
year. A surplus means revenues exceed expenses while a deficit may indicate the County has not lived within
its means. Long-term financial sustainability is dependent upon ensuring that on average, over time, expenses
are less than revenues. This requires current taxpayers to fully meet the cost of services.
The presence of a surplus does not necessarily represent financial sustainability. When a surplus is achieved,
the amount is available for capital expenditures over and above amortization expense. Amortization expense
is based on historic cost and does not reflect the increased cost of future asset replacements. Taking future
asset replacement costs into account in determining the appropriate level of surplus is a critical step toward
financial sustainability.
Karma HeningerLaurie BaronVanessa Plett
21
2025 Annual Financial Report
Financial Assets-to-Liabilities
This indicator shows the extent to which the County’s future revenues will be required to pay for past
transactions or events. A ratio greater than one indicates that financial assets are sufficient to meet
obligations and to finance future operations while a ratio less than one may mean a reliance on future
revenues or increasing debt to pay for past decisions.
This ratio increased by 1.97 in 2025. The County remains in a very strong financial position with $15.01 in
financial assets for every $1.00 of financial liability. These financial assets support the County’s long-term
financial plan for replacing and rehabilitating its capital assets as they reach the end of their useful lives.
Susie Martens
22
2025 Annual Financial Report
Taxes Receivable as a % of Taxes Levied
The following chart reflects the total uncollected property taxes as a percentage of the total tax levy. Every
year, a percentage of property owners are unable to pay property taxes for a variety of reasons. If this
percentage increases over time, it may indicate an overall decline in the County’s economic health.
Additionally, as uncollected property taxes rise, liquidity decreases.
23
2025 Annual Financial Report
Debt Servicing Costs-to-Revenues
FLEXIBILITY
Flexibility is the degree to which the County can change its debt burden or raise taxes to respond to rising
commitments. Increasing debt and taxation reduces flexibility and the County’s ability to respond to changing
circumstances.
The ratio of debt servicing costs-to-revenues indicates the amount of current revenue that is required to
service past borrowing decisions and, as a result, is not available for programs and services.
24
2025 Annual Financial Report
Debt Limits and Debt Payments
The County is limited in the amount of debt that it can incur beyond the limitations specified in Alberta
Regulation 255/00. The maximum allowable debt the County could hold within this regulation is
approximately $69.8 million. The County held outstanding debt balances representing 5.1% of this maximum
allowable amount at the end of 2025. This leaves the County with approximately $66.19 million of borrowing
room.
Debt per capita increased in 2025 as the County borrowed funds to finance the Lake Newell Resort
Community Pathway project, which cost will be recovered through a local improvement tax.
25
Restricted Surplus
2025 Annual Financial Report
Restricted surplus funds are included as part of the County’s accumulated surplus. Restricted surplus funds are
a critical component of the County’s long-term financing and capital plan. The County’s Restricted Surplus
Policy POL-014-25 establishes specific restricted surplus funds to:
Stabilize tax rates in the face of variable and uncontrollable factors (consumption, interest rates,
unemployment rates, changes in subsidies)
Provide financing for one-time or short-term requirements without permanently impacting the tax
and utility rates.
Make provisions for replacement or acquisitions of assets and infrastructure that are currently
being consumed and amortized.
Avoid spikes in capital plan funding requirements by reducing the reliance on long-term debt
borrowings.
Provide flexibility to manage debt levels and protect the municipality’s financial position.
Provide for future payment on liabilities incurred in the current year.
Provide a source of internal financing.
Ensure adequate cash flows.
Restricted surplus provides liquidity, enhancing the County’s flexibility to meet operating needs and
temporarily fund capital projects internally while it accesses debt markets under favourable conditions. The
level of restricted surplus funds to retain may vary for a number of reasons, including:
A change in services provided by the County.
Age and condition of infrastructure, fleet equipment and vehicles supporting County operations.
Economic conditions and projections.
Internal debt and restricted surplus policies.
Restricted Surplus Policy POL-014-25 specifies minimum balances to be maintained for the restricted surplus
funds listed below. The County is in compliance with this policy as of December 31, 2025.
26
2025 Annual Financial Report
Tangible Capital Assets
Net Book Value of Tangible Capital Assets-to-Cost of Tangible Capital Assets
$18.20 million – Water Distribution System (transferred to capital)
$705 thousand – Buildings (transferred to capital)
$5.43 million – Road Reconstruction
$1.90 million – Land Improvements
$358 thousand – Drainage
$291 thousand - Bridges
No tangible capital assets were contributed to the County during the 2025 calendar year.
Net book value of TCA compared to total cost of TCA measures the extent to which the estimated useful lives
of the County’s tangible capital assets are available to provide its products and services.
As of December 31, 2025 approximately 64.66% of the useful life of the County’s assets remains available to
provide future services.
The County’s tangible capital assets (TCA) increased by a net $6.46 million in 2025. Key changes included new
asset acquisitions of $15.3 million, transfers from WIP of $18.93 million, $8.46 million in amortization expense
and asset disposals with a net book value of $275 thousand.
Significant acquisitions included:
$1.83 million - Vehicles
$889 thousand – Machinery and equipment
$584 thousand – IT Infrastructure
$423 thousand – Lagoon upgrades
$365 thousand – Fire Apparatus
$316 thousand – Road reconstruction
Work-in-Progress (WIP) decreased by a net $8.14 million in 2025. Key changes included:
27
2025 Annual Financial Report
Government Transfers-to-Total Revenue
VULNERABILITY
Vulnerability is the degree to which the County
becomes dependent on, and therefore vulnerable to
sources of funding outside its control or influence. The
lower the County’s own-source revenue is, the more it
relies on fiscal decisions of others.
This indicator demonstrates the level of government transfers compared to total revenues. The higher the
percentage, the more reliance the County puts on receipt of funds from other levels of government. These
transfers are dependent on policy decisions, which are outside the County’s control.
The inset chart illustrates that a significant portion of total revenues in some years are attributable to
government transfers. It is important to note that the majority of these government transfers have been used
for financing major capital projects. The County’s ability to undertake such projects is dependent in large part
on grant funding from other levels of government.
It is management’s opinion that the County is not exposed to significant risk in terms of its reliance on
government transfers for operating to support its products and services.
Respectfully Submitted,
Stephanie Hanson, CPA, CGA
Controller
Debbie Lea
28
2025 Annual Financial Report
2025 Programming
CP line (66 miles, cost recovery): GPS/inspect/control
Road network: 1528.5 Km sprayed – 1231.5 km of local roads and 297 km of highways (under
contract), selective control
Bow River (60 miles of control work) - spraying and picking
Inspected EID delivery system
520 acres controlled under the Private Weed Control policy
Controlled weeds in 8 Grasslands Public School Grounds (Cost recovery)
Controlled weeds in parks, municipal owned land, and cemeteries (Bassano, Brooks and Duchess -
cost recovery)
Major weeds of concern include but are not limited to: Scentless Chamomile, Black Henbane, Downy Brome,
Baby’s Breath, Yellow Toadflax, Canada Thistle, Burdock, Diffuse and Spotted Knapweed, Tall Buttercup and
Hound’s Tongue.
AGRICULTURAL SERVICES REPORT
The ASB manages vegetation in municipal rights of ways, municipal owned land, hamlet open spaces and
within our partner municipalities. Regulated weed species under the Weed Control Act are top priority and
present a constant battle. For this reason, the ASB employs four Seasonal Vegetation Management
Technicians to aid ratepayers in their control efforts as well as identify risks and maintain established
infestations. Invasive species spread via transportation corridors and water ways and the ASB keeps a close
eye on those vectors.
If you have tough to control weeds or are having trouble identifying threats, please call the ASB team for
help.
Weed Control
Diffuse Knapweed Pale Yellow Iris Burdock Yellow Toadflax
The Agricultural Services Board (ASB) and the Agricultural Services Department is guided by four Acts of the
Alberta Government: the Agricultural Services Board Act, the Weed Control Act, the Agricultural Pests Act,
and the Soil Conservation Act.
With guidance from this legislation, your ASB enacts policy and programming to support the agriculture
industry and residents. Although environmental programming and vegetation management are part of the
day-to-day tasks, programming revolving around weed, pest, and soil control are still the priority.
29
Pest Control
2025 Annual Financial Report
Environmental Programming
The ASB offers environmental programming through a partnership with the Alberta Government. This
programming promotes information sharing and helps us partner with others to provide different learning
opportunities. It also requires the allocation of time to Environmental Farm Plans and pursue Sustainable
Canadian Agricultural Partnership (SCAP) Grants.
Soil Conservation
Well prepared producers (with some help from Mother nature) kept soil erosion concerns to a minimum.
While specific pest species may change over time, the ASB’s commitment to monitoring and reporting remains
consistent. This season, the ASB surveyed:
226 canola fields for signs of Clubroot
100 locations for grasshopper populations
825 sites for Coyote RAI (Relative Abundance Index)
5 potato fields for signs of Bacterial Ring Rot
7 wheat fields for signs of Fusarium graminearum
The ASB also offers programming and sells pest control products to
help mitigate the negative effects pests have on our County. They
include:
Trap Rentals: six skunk/racoon for 141 rental days
Magpie traps: one renter for 136 rental days, one trap sold
Grain bugs and Richardson Ground Squirrels – Sold 14 Phostoxin
Flasks to 3 landowners
Built one new hawk pole for a producer, monitored three on
County lands, 2 new nests
Disinfected 3 potato cellars for storage pests
Teena KetchmarkColette Jako
30
In 2025, local programs supported learning, sustainability, and
community engagement through the following initiatives:
37 Environmental Farm Plans completed; 9 others started.
Grasslands Know your Food Ag day – 120 Participants
Tree Health seminar – 79 Participants
Pollinator Week seminar – 15 participants
Mowing
2025 Annual Financial Report
The ASB offers a range of equipment rentals, priced near cost recovery. In 2025, usage included:
Loading Chute & Panels – 9 renters
Calf table – 3 renters
Livestock scale – 3 renters
Boomless sprayers (2) – 3 renters
Insecticide sprayer – 1 renter
Weed wipe applicator – 1 renters
Three point hitch sprayer – 3 renters
Double disc drill - 11 renters, 1460.6 acres
No till drills (2) – 51 renters, 2455 acres
Brillion seeders (2) – 7 renters, 105.1 acres
Tandem axle BBQ – 25 users
Your ASB is also proud to sponsor and work with:
Farm Safety Center
Alberta Invasive Species Council
Ag For Life
Brooks Fish and Game (Aqueduct site): replaced dead trees,
helped irrigate tree planting and site maintenance
EID Tree Planting : aided in planting and mulching six sites, and
helped with maintenance of 12 sites
The ASB runs two mowing programs: roadside rights-of-way and County-owned properties. These support
weed control, improve drainage and safety, and enhance aesthetics. In 2025, 6347.29 miles (one way) on the
roadsides and invested over 2400 hours maintaining vegetation in hamlets, subdivisions, and airports.
Rental Equipment
Samantha Plett
31
Emerson Bridge Park Campground
Emerson Bridge Campground, nestled where Highway 36 meets the Red Deer River, offers spacious sites,
towering cottonwoods, and a peaceful natural setting. The campground is owned by the County and operated
by the ASB. It has 12 full-service sites, 51 power sites, 21 non-power sites, and 7 overflow spots.
The 2024 season saw favourable camping weather, and many visitors took advantage of the longer-term rental
options. Overall seasonal occupancy reached 27.65%, with powered sites at 34.6% and non-powered sites at 6.9%.
2025 Annual Financial Report
Despite strong usage, revenue declined compared to the previous year, totaling $108,270 in 2025, down from
$125,341 in 2024.
32
Other Programming
2025 Annual Financial Report
The ASB continues to promote and protect agriculture through a variety of programs, including the Calgary
Stampede Farm Family Award, Rural Beautification Program, seed plant inspections and licensing, roadside
seeding, and pest and agronomic support.
If you have questions or want more information, contact the ASB
office at 403-362-3266, visit www.countyofnewell.ab.ca, and follow
the County on social media for updates. ASB matters are addressed
during regular Council meetings.
2025 Calgary Stampede Farm Family
Retzlaff family - Saddleridge Farming Co.
We proudly collaborate with partners such as the Alberta
Conservation Association, Newell Regional Solid Waste
Management Authority, Partners in Habitat Development, CPKC Rail,
Volker Stevin, Alberta Infrastructure, Grasslands Public Schools, the
local oil and gas industry, and neighboring municipalities on projects
of mutual benefit.
2025 Rural Beautification Winners
1st Place
Winners
John & Teena
Ketchmark
2nd Place
Winners
David & Kathlyn
Peltzer
3rd Place
Winners
Mark & Krista
Kasdorf
33
2025 Annual Financial Report
Municipal Services includes several departments: Fleet Services, Municipal Enforcement, Public Works and
Engineering (Transportation/Roads), Airport, Water, Wastewater (Sewer), Stormwater, Solid Waste Services, and
Planning and Development. Together, these departments support sustainable growth and enhance quality of
life. Through responsible management, innovation and teamwork, these departments strive to provide
dependable, high levels of service at reasonable costs.
The following are key highlights and accomplishments from Municipal Services departments in 2025.
Municipal Enforcement Services
MUNICIPAL SERVICES REPORT
Municipal Enforcement Department continues providing service in partner jurisdictions including the Town of
Bassano, Villages of Duchess and Rosemary, and the Eastern Irrigation District. Partnership services are cost
recovered on an hourly rate basis under contract. The Department continues to engage and educate the
public. Monthly priorities for the Department match that of the Selective Traffic Enforcement Program (STEP)
of the Province, which are identified on the Alberta Traffic Safety Calendar.
Patrols in partner jurisdictions totalled 668 hours, down from 765 hours in 2024 due to the retirement of
Municipal Enforcement Supervisor J. Nesbitt and the subsequent recruitment process. Enforcement staff also
continued patrols throughout the County, including rural areas, multi-lot subdivisions, and hamlets.
Bylaw-related investigations accounted for 61% of all enforcement actions, with the highest volumes tied to the
Traffic Bylaw (87), Community Standards Bylaw (55), and Dog Control Bylaw (52), along with activity related to
the AIS program and parking.
Provincial offences made up 57% of all Provincial Act violations, most commonly under the Traffic Safety Act.
These included speeding (146), speeding in an active construction zone (34), stop sign infractions (13),
unregistered vehicles (13), and uninsured motor vehicles (12).
In 2025, 497 investigations were completed, resulting in 294 violations and 90 warnings issued across the
County and partner jurisdictions. These were issued under County bylaws, municipal partner bylaws, and
applicable provincial legislation.
34
2025 Annual Financial Report
Completed gravel road improvements to the following:
Range Road 142 from Township Road 191 to Township Road 193
Range Road 161 from Township Road 162 south for 800 meters (drainage only)
Public Works & Engineering Services
The Public Works and Engineering Departments work together to manage 1,457 km of gravel roads and 233
km of paved surfaces through established preventative maintenance and capital improvement programs.
These departments are committed to maintaining high-
quality gravel road surfaces. Eight grader operators are
each responsible for an average of 185 km of roadway,
with one full maintenance cycle per beat completed
over approximately 20 working days.
Dust abatement services covered 130,812 linear metres
(130.8 km) of gravel roads in 2025, up from 125,818
linear metres (125.8 km) in 2024.
Carried forward to 2026, due to timing of the year and contractor availability, road improvements to the
following:
Township Road 194 from Range Road 145 to Highway 1
Range Road 143 from Township Road 192 to Township Road 193
During the spring, summer, and fall maintenance
seasons, operators completed 10,629 km of gravel road
maintenance, compared to 9,936 km in 2025. In
addition, 326.4 km, or 22.4% of the County’s gravel road
network, was resurfaced, compared to 359.0 km, or
24.7%, in 2024.
The 2025 program utilized 37,137 cubic metres of
crushed aggregate at a total cost of $581,603,
averaging $1,781 per kilometre. This compares to 40,386
cubic metres at a total cost of $642,318, averaging
$1,789 per kilometre in 2024.
Including County Aggregate Haul Roads and
intersection treatments, the 2025 program applied
2,558,504 litres of dust abatement product over 18
working days using two active crews. The total cost
was $523,843, averaging $4.00 per linear metre.
In comparison, the 2024 program applied 2,710,211
litres over 13 working days at a total cost of $481,165.66,
averaging $3.82 per linear metre.
The program included 384 applications, consisting of
347 residential and 37 non-residential locations,
compared to 367 applications in 2024 (332 residential
and 35 non-residential).
35
2025 Annual Financial Report
The Kinbrook Connection Pathway Partnership, a 12.4 km pathway linking Kinbrook Island Provincial Park
and the City of Brooks, was completed in 2025. A grand opening ceremony was held on September 25
with project partners, invited dignitaries, and members of the public.
The County also maintains a ban-free paved road network, allowing producers to transport commodities
from field to market year-round without restriction. Preserving this infrastructure requires timely upgrades
and strategic planning.
In 2025, planning and design were completed for Range Road 150, from Highway 1 south to Highway 542
(Cassils Road). This project will bring the roadway up to the standards established by Council for the truck
route around the west and south of Brooks. The improvements will enhance connections to industrial
subdivisions and provide an alternative route for industrial traffic, including hazardous materials,
overweight, and over-dimensional loads, around the City of Brooks. Land acquisition is currently underway
to secure the necessary right-of-way for construction.
Now in its fourteenth year of partnership with the Eastern Irrigation District (EID), the County continues to
advance joint infrastructure improvements through an annual $2 million investment, shared equally
between both parties.
In 2025, work included 3.20 km of roadside ditch improvements as part of Rosemary Phase III. With this
phase now complete, efforts have shifted to Rolling Hills Phase II, focusing on improvements to the southern
and eastern areas.
36
2025 Annual Financial Report
Water Services
Closing Remarks
The County’s Rural Water System consists of 1,435 km of waterline servicing residences and businesses, an
increase from 1,321 km in the previous year. As of December 31, 2025, there were 1,540 active users out of
2,032 registered users, representing 76% active participation. Both active and registered user numbers
increased following the completion of CNWP Phase II.
The Municipal Services team’s role within municipal government involves overseeing the infrastructure and
essential services that residents depend on each day. This accountability calls for strategic asset
management, efficient use of resources, and a steadfast focus on public safety. Efforts are consistently
directed toward delivering dependable, value-driven services while preserving the quality of life within the
community.
In comparison, 2024 recorded 1,427 active users out of 1,820 registered users, representing 78% active
participation.
Respectfully Submitted,
Mark Harbicht
Director of Municipal Services
Construction of the Lake Newell Resort Pathway, a 4.3 km connection between the Hamlet and the Kinbrook
Connection Pathway, is nearing completion. Remaining work is limited to landscaping and seeding, with
completion anticipated in late spring.
37
2025 Annual Financial Report
Development activity in the County of Newell remains strong. 2025 saw an 18% increase in Development Permits
compared to last year and a 66% increase in approved subdivisions. Construction Permit revenue remained
comparable to 2024 and reflects an 84% increase over 2023. This sustained growth demonstrates continued
investment and confidence in the County.
Development
In 2025, a total of 13 Development Permits were
approved for new businesses, reflecting continued
economic growth and diversification across the
County.
Three new retail businesses were approved, including
a market garden, an online retail operation, and a
storefront in Patricia specializing in locally raised beef
and other goods. In addition, three new self-storage
businesses were established this year.
The County approved two new agricultural processing
businesses focused on producing organic fertilizer; one
in Martin Industrial and another north of Bassano.
Additional approvals included an auto wrecking and
parts sales business in the Ralore subdivision and a
vehicle repair business specializing in paintless dent
repair. The County issued 11 Development Permits for
oversized ground-mounted solar installations,
demonstrating continued interest in renewable energy
development.
Two Home-Based Businesses were approved; one for
small engine repair in Rolling Hills and another for a
dog and cat grooming business located north of the
City of Brooks.
Residential growth remained steady, with 10 new
single-family dwellings and 9 manufactured homes
approved.
This year’s strong performance across residential,
commercial, agricultural, and renewable energy
sectors highlights a healthy and diversifying local
economy. With increased permit activity and new
business development, the County is well-positioned
for continued growth in the year ahead.
PLANNING & DEVELOPMENT REPORT
Rachelle Undershute
38
2025 Annual Financial Report
In Alberta, construction permits are required to ensure that all new construction, renovations, and structural
changes comply with provincial safety standards and local bylaws. Proper permitting and inspections protect
property owners and the public by confirming work meets applicable building, electrical, plumbing, gas, and
fire codes. Without the required permits, developers may face stop-work orders, complications during
property sales, and potential denial of insurance claims related to unpermitted work.
Electrical permits were the most frequently issued permit type in 2025, consistent with previous years. Any
electrical work, including new construction, renovations, panel installations, or service upgrades, requires an
electrical permit to ensure compliance and safety.
39
2025 Annual Financial Report
Revenue generated from electrical permits also exceeded that of other disciplines. This is largely attributable
to the high volume of irrigation projects across the County, as well as continued growth in solar
development, including the industrial solar project located north of Duchess.
The County hired a new Alberta Safety Codes Inspection Agency this year. This change reinforces our
commitment to safe, compliant, and efficient development practices.
In 2025, the County processed four Land Use Amendments, supporting responsible growth while improving
regulatory clarity and flexibility.
The County worked collaboratively with the Town of Bassano to establish a new Direct Control District for the
Bassano Airport. In addition, policies within the Land Use Bylaw were updated to strengthen and support
airport-related development, benefiting all airports within the County.
Several text amendments to the Land Use Bylaw were adopted to streamline processes and introduce
flexibility where appropriate. Notably, amendments now allow the Development Authority to consider
applications on nonconforming parcels without requiring a change to the Land Use District. Such applications
may only be approved if the proposed development does not interfere with neighbourhood amenities, does
not materially affect the use, enjoyment, or value of neighbouring properties, and conforms to the uses
prescribed in the Land Use Bylaw. The definition of “Secondary Suite” was also updated to provide greater
clarity.
Land Use Amendments
Debbie Lea Darla Wiebe Ashley Ferguson
40
2025 Annual Financial Report
Further amendments increased the allowable size of Solar (Freestanding) installations to better reflect the
scale of renewable energy development occurring within the County. This change enables a more efficient
and streamlined permitting process. Setback requirements from subdivision roads were also revised to
maximize the developable area on parcels accessed by local subdivision roads.
Additionally, one site-specific Land Use Amendment was approved in Scandia. The amendment
redesignated two parcels from Business, Hamlet District to Residential, Rural District, allowing an existing
building to be used as a residence.
These amendments reflect the County’s commitment to responsive planning, economic development, and
regulatory efficiency.
In 2025, the County received 17 subdivision applications. Of these, 15 were presented to the Municipal
Planning Commission, and all 15 were approved. By year end, 9 subdivisions were finalized and endorsed for
registration at Land Titles.
Under Alberta’s planning framework, subdivision approval is governed by the Municipal Government Act,
which requires that proposed subdivisions demonstrate appropriate access, servicing, and compliance with
the Land Use Bylaw before final endorsement. Registration at the provincial Land Titles Office legally creates
the new parcels, allowing them to be sold or developed.
Road Closures
Road allowances running north–south are called
range roads and occur at one-mile intervals.
Township roads run east–west and are spaced
every two miles.
The department continues to work together with the
EID to ensure that road allowances are being closed
prior to the installation of new irrigation systems. This
will reduce County liability and ensure exclusive use
of the lands for the lease holder. Six road closure and
lease applications were approved by Council in
2025.
Subdivisions
Allison Hickey
41
2025 Annual Financial Report
CONSOLIDATEDFINANCIALSTATEMENTS
SECTION TWO
42
2025 Annual Financial Report 43
2025 Annual Financial Report 44
2025 Annual Financial Report 45
2025 Annual Financial Report 46
2025 Annual Financial Report 47
2025 Annual Financial Report 48
2025 Annual Financial Report 49
2025 Annual Financial Report 50
2025 Annual Financial Report 51
2025 Annual Financial Report 52
2025 Annual Financial Report 53
2025 Annual Financial Report 54
2025 Annual Financial Report 55
2025 Annual Financial Report 56
2025 Annual Financial Report 57
2025 Annual Financial Report 58
2025 Annual Financial Report 59
2025 Annual Financial Report 60
2025 Annual Financial Report 61
2025 Annual Financial Report 62
2025 Annual Financial Report 63
2025 Annual Financial Report 64
2025 Annual Financial Report 65
2025 Annual Financial Report 66
2025 Annual Financial Report 67
2025 Annual Financial Report 68
2025 Annual Financial Report 69
2025 Annual Financial Report
FINANCIAL &STATISTICAL
SECTION THREE
70
2025 Annual Financial Report
Genevieve Marie Darla Wiebe
71
2025 Annual Financial Report
Expenses by Object
Salaries, wages and benefits:
Contracted and general services:
Materials, goods, supplies and utilities:
Transfers to organizations:
Other expenditures:
Amortization:
Significant items driving variances in total expenses trends across the period include:
Increased in 2022, 2023, 2024 and in 2025 due to cost-of-living adjustments.
Increasing Membership, Conference Fees ($93 thousand in 2021 to $287 thousand
in 2025).
Increasing water usage charges from NRSC as additional water users access the
rural system ($607 thousand in 2021 to $894 thousand in 2025).
Transfers to other municipalities in the County under the Regional Enhancement &
Cooperation Agreements & ICF agreements. 2021 ($1.91 million), 2022 ($2.02
million), 2023 ($2.65 million), 2024 ($2.59 million), 2025 ($3.063 million).
Policing costs transferred to Province. 2021 ($390 thousand), 2022 ($531
thousand), 2023 ($695 thousand), 2024 ($788 thousand), 2025 ($735 thousand).
Adjustment to the allowance for doubtful property taxes receivable in 2021 ($212
thousand); 2022 ($92 thousand), 2023 ($253 thousand), 2024 ($75 thousand),
2025 ($334 thousand).
Discounts on taxes in 2021 ($687 thousand); 2022 ($608 thousand), 2023 ($719
thousand), 2024 ($635 thousand), 2025 ($520 thousand).
Total cost of tangible capital assets (net of work-in-progress assets) has increased
from $287 million in 2021 to $334 million in 2025 which had been contributing to
the increase in annual amortization expense.
72
2025 Annual Financial Report
Expenses by Object (con’t)
Laurie Baron
73
2025 Annual Financial Report
Expenses by Function
74
Revenues by Source
2025 Annual Financial Report
Property taxes continue to be the most significant source of revenue for the County, comprising from 72.86% to
78.6% of total operating revenues over the period reported above. A few of the more significant items driving
variances in total revenue trends across the period include:
Government transfers for operating and capital, which are dependent on other levels of
government
Investment Income which is dependent on the return on investment of the County’s temporary
and long-term portfolio investments
Special levies, which include local improvement taxes, depend on local improvement projects
completed in a given year
User fees and sales of goods, included well drilling tax, which the Province cancelled in 2021
Other revenue in 2023, 2024 & 2025 includes revenue received from the County’s response to
wildfires in the Province.
75
Leslie Smith Samantha Plett Laurie Baron
2025 Annual Financial Report
Capital Expenditures
76
2025 Annual Financial Report 77