KIM BURTON-SCHRAM
Local journalism initiative reporter
South Glengarry ended 2024 with an operating surplus of $1,247,161, down from its surplus of $4,602,634 recorded at the end of 2023.
The figures were contained in a statement presented by Jamie Pollock, from MNP’s Assurance and Accounting group in Cornwall, at the most recent council meeting.
Expenses in 2024 were $17,783,108, up from $16,666,442 in 2023. However, revenues, including taxation, grants, investment income, fees and service charges, were up from $16,139,596 to $17,365,263. Taxation generated $14,529,690 in revenues, up from $10,745,010 in 2023.
The township completed 2024 with $11.9 million in reserves. When added to the equity in tangible capital assets, the municipality has an accumulated surplus of $69 million.
The Township has an asset retirement liability for landfill closing costs and makes annual contributions to the reserves that will be used for the closing, maintaining and monitoring sites for 25 years. South Glengarry has two landfill sites, including the North Lancaster site with approximately 12 years of remaining life and the Beaverbrook landfill site with 16 years remaining life. These closure costs are recovered from future taxation revenue and reserves. The balance in this reserve at the end of 2024 was $5,254,626.
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