Pelham’s first-ever Annual Report now available
FOR IMMEDIATE RELEASE
July 29, 2020
Pelham, ON – The Town of Pelham issued its first-ever annual report, for the year ending December 31, 2019.
The report provides details about the Town’s financial performance and strategic goal achievements in the 2019 fiscal year, of which there were many.
Highlights from 2019 include award-winning communications initiatives, updating and developing financial policies such as reserves, debt, and cash management, establishing an audit committee and a utility sustainability committee, and developing a capital asset strategic policy.
“The 2019 financial results continue to demonstrate Pelham’s commitment to strengthening its financial sustainability,” said director of corporate services and treasurer, Teresa Quinlin. “Maintaining financial strength continues to be a focus for the Town. This report provides a high-level overview of the 2019 financial results for Pelham.”
As the Town works on an asset management plan including service delivery reviews and new budget software, the focus on balancing service levels, sustainability and affordability remain important goals towards ensuring informed decision making and the management of financial pressures facing the Town. The Town achieved a positive surplus in both the Consolidated Financial Statements per Canadian Public Sector Accounting Standards and the budget on a modified cash basis.
Also included in the report are financial processes, consolidated financial statements, independent auditor’s reports, a statement of financial position and a statistical review for the five-year period of 2015-2019.
The report is dedicated to the late Councillor Mike Ciolfi, who passed away earlier in 2020. Ciolfi’s business acumen and leadership were tremendous assets in developing the Town’s new approach to financial issues and helping put Pelham on a positive financial track.
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For more information, please contact:
Marc MacDonald
Communications and Public Relations Specialist
905-892-2607 x309
mmacdonald@pelham.ca