Region of Queens Municipality’s Audited Financial Statement Released for 2021- 2022 Fiscal Year

August 9, 2022; Liverpool, NS:  The audited financial statement for the fiscal year ending March 31, 2022 was adopted by Region of Queens Municipality’s Council at their August 9, 2022 Regular Council meeting.  An overview of the audited financial statements from the 2021 – 2022 fiscal year was presented by Kelsey Murphy, Senior Auditor at Grant Thornton, the independent external auditor appointed by the Municipality, at the August 8, 2022 Audit and Internal Control Committee (AICC) meeting.  The AICC, consisting of two members of Council and three independent members of the public, recommended that the Audited Financial statement be adopted by Council.

“Careful financial management with commitment to reserves for known projects, strategic investments in our community, cautious financial planning and careful budgeting by Council and staff are always top of mind in making decisions.  Region of Queens Municipality continues to remain in a strong financial position,” said Darlene Norman, Mayor of the Region of Queens Municipality.

General operations ended the fiscal year, March 31, 2022 with an operating surplus of $3,645,214. This was the result of unexpected funding through double Canada Community Building Fund (Federal) and double Municipal Equalization Grant, Pension Surplus and higher than anticipated deed transfer tax from a robust housing market, coupled with Council’s decision to stay within the parameters of the budget and not spend the excess funds. 

Significant investment of infrastructure continued upgrades to the Municipal water systems on Court Street and Union Street.

The 2021 – 2022 Audited Financial Statement will be posted on the Region of Queens website at http://www.regionofqueens.com/municipal-services/finance/financial-statement/audited-statement as soon as the authorized final version is available