Operating Budget Preparation
The operating budget shows the day-to-day costs of delivering programs and services for the next year. These costs are similar to your everyday household expenses such as mortgage payments, utilities or groceries.
The Chief Administrative Officer develops a preliminary operating budget for presentation to Council during its Regular Council Meeting for Council to review, make recommendations, and adopt.
In addition to the current year, the operating budget adopted each year will include the projected operating budgets for the following two years, ensuring that the Town of Nobleford is adopting a three-year operating budget each year in compliance with the new Municipal Government Act requirements. The projected operating budgets included in the three-year operating budget will be adopted in-principle, meaning that they are not final and will be reviewed through the same process outlined above.
To view the Budget Release for 2022, please click here.
Audited Financial Statements
Financial statements provide information on a municipality's financial position in terms of its assets and liabilities, its net debt, its accumulated surplus or deficit, and its tangible capital assets and other non-financial assets. Financial statements also provide a meaningful summary of the sources, allocation and consumption of municipal economic resources, how the activities of the period have affected the municipality’s net debt, how municipal activities were financed, and how cash requirements were met.
The consolidated financial statements of the Town of Nobleford are prepared by the Town's appointed auditing firm in accordance with Canadian public sector accounting standards. The Town's current auditing firm is Avail.
The consolidated financial statements reflect the assets, liabilities, revenues, expenses, and change in net financial assets (net debt) of the Town of Nobleford.
*To view the 2021 Audit Financial Statement, click here.
Reading the Audited Financials
Statement of Financial Position
The Statement of Financial Position reports on a municipality’s assets, liabilities and accumulated surplus. A review of the Statement of Financial Position should be in the context of a long-term view of the municipality’s financial health, and not focus solely on how much money is currently in the bank.
Statement of Operations
The Statement of Operations reports on revenues, expenses and the results for a fiscal year or reporting period. The Statement of Operations provides detailed information on what transactions have impacted the accumulated surplus from the beginning of the year to the end of the year.
Statement of Change in Net Financial Assets (Debt)
The Statement of Change in Net Financial Assets (Debt) explains the difference between the annual surplus or deficit and the change in net financial assets (debt). It tracks what the municipality has spent to acquire tangible capital assets and inventories of supplies.
Statement of Cash Flow
The Statement of Cash Flow identifies where cash comes from, shows how cash was used, and provides details on changes to cash and cash equivalents since the last reporting period.