Paradise given a clean bill of financial health

By Mark Squibb

The Town of Paradise’s 2025 financial statements have been audited and given a clean bill of health.

Council was presented with the audited statements during a private meeting on June 15, and the matter was brought forward for public discussion during the June 23 public committee of the whole meeting.

“The auditor provided a clean audit report for the year ending December 31, 2025,” said Deputy Mayor Kimberley Street.  “There were no issues or concerns with the values reported. Once again, the Town remains in a strong, financial position, with the net financial position essentially balanced with a small net debt position, reflecting the Town’s significant investment in long term infrastructure assets and financial stability.”

The audit had to take into account insurance proceeds and costs associated with rebuilding the town hall and public works depot.

Councillor Tommy Maher extended his appreciation to staff for getting the financials ready to be audited ahead of the June 30 deadline.

“During the presentation last week, a lady did mention that we were one of the few municipalities that got it done on time,” said Maher. “With all that we’ve had on the go over the past year, year-and-half, it’s spectacular that staff pulled this off.”

Councillor Glen Carew also praised staff for their work but also posed a few questions.

Among them was a query about what was driving two years’ worth of overdue taxes.

Street replied the Town is following its collection policy and the auditor expressed no concern about the amount owing.

Carew also questioned an additional $8.3 million in capital assets, which he assumed was related to the St. Thomas Line Pump Station. Street confirmed that was indeed the case.

Carew also noted an additional $9.2 million in machinery and equipment, which he also assumed was related to the St. Thomas Line Pump Station, which Street also confirmed.

Carew then asked about the additional $1.4 million earmarked for general government services last year. Street explained the figure represented the additional cost of ‘business continuity’ following the Town Hall and depot fire, including rent and office purchases.

Contract services was also up $1.2 million. That increase, said Street, was also related to the fire.

Regional services, including fire protection, water supply, and garbage collection, meanwhile, accounted for 24 percent of the total budget.

“We went through a lot of anguish, a lot of turmoil, a lot of money, a lot of hard work, over the last year, year-and-a-half, with the fire, and the lift station failure, and replacing our old lift station with a new one, and these statements reflect all of that,” said Carew. “It’s important for residents to understand that staff have dealt with a lot, and it takes a lot of money to maintain infrastructure, and to keep a growing town like Paradise going”.”

Councillor Sheldon Antle meanwhile asked about a new long term debt line item valued at $7.8 million. That debt, said Street, was also related to the St. Thomas Line Pump House.