The City of Wrenford's audited financial statements for 2024 were presented to Council on April 14 and are available to the public today. The report covers the city's income, spending and financial position for the full year.
An independent firm of auditors reviewed the city's books and issued a clean audit opinion. This result confirms that the city's financial reporting is accurate and that public funds were managed responsibly throughout the year.
“Receiving a clean audit opinion for 2024 is a strong reflection of the hard work our finance teams put in throughout the year,” says Mayor Danielle Okafor-Price. “It shows we are tracking our budget closely and keeping our books accurate so we can keep delivering the programs and services you need.”
Revenue exceeded projections by $1.9 million, driven primarily by user fees and utility charges. Day-to-day spending finished $1.4 million below forecast, thanks to efficiency gains in contracted services and supply purchases.
City Manager Robert Eng noted that the surplus is a direct result of careful planning and daily monitoring of the operating budget. The total surplus will be divided equally. Half will support operating reserves for ongoing city services, and half will flow into capital reserves for long-term infrastructure upgrades.
You can view the full 2024 audited financial statements and related audit findings on the View audited financial statements page. The city releases these statements every spring after Council reviews them.
For more information on how the city plans and tracks its money, visit View financial facts and insights.