Audit report demonstrates prudent financial management maintains Halton Region’s strong financial position

Audit report demonstrates prudent financial management maintains Halton Region’s strong financial position

Release Date: May 29, 2018

Halton Regional Council approved the Region’s financial statements for 2017 at the Council meeting on May 23, 2018 following presentation of the Audit Results Report prepared by the accounting firm Deloitte. The audit report highlights the main findings from Deloitte’s external audit of the financial statements which are used to review and assess the Region’s financial position to ensure compliance with Public Sector Accounting Standards.

“Council is pleased once again with the results of the annual audit of the Region’s financial statements,” said Halton Regional Chair Gary Carr. “Our strong financial position allows us to provide high-quality programs and services while at the same time investing in the future and keeping taxes low. Our approach to financial planning ensures we can meet the needs of Halton residents while preserving a high quality of life in our community.”

The audit report highlighted:

  • Deloitte is prepared to issue the opinion (by letter) that the consolidated financial statements present fairly, in all material aspects, the consolidated financial position of the Region at year end in 2017;
  • the Statement of Financial Position which demonstrates the Region has the resources to finance its future operations and capital requirements, as evidenced by having net financial assets of $1.2 billion; and
  • Halton Region continues to receive the Canadian Award for Excellence in Financial Reporting, most recently with the 2016 Annual Financial Report.

The approval of the Financial Statements at Council and the Deloitte Audit Results Report are important steps in the development of the Region’s Annual Financial Report, which will go to Council for approval in July. To learn more about the Region’s finances, visit halton.ca.

The Regional Municipality of Halton serves more than 550,000 residents in the City of Burlington, the Town of Halton Hills, the Town of Milton, and the Town of Oakville. Halton Region is committed to meeting the needs of its residents through the delivery of cost-effective, quality programs and services, including water and wastewater; Regional roads and planning; paramedic services; waste management; public health; social assistance; children’s and seniors’ services; housing services; heritage programs; emergency management and economic development. For more information, call 311 or visit Halton Region’s website at halton.ca.

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Media Contact:
Stacey Hunter
Acting Communications Advisor
Halton Region
905-825-6000 ext. 7529
stacey.hunter@halton.ca