Budget and Financial Statements
The Township of Edwardsburgh Cardinal is responsible for managing and investing your property tax dollars to meet the needs of the community.
Key areas of responsibility include:
| Asset Management Plan |
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The Township's Asset Management Plan (AMP) complies with current provincial guidelines for its infrastructure assets. The assets identified by the Township for the purpose of this plan include:
The AMP is updated on a regular basis and is the primary source of information for the development of the Operating and Capital Budgets as well as any long-term financial planning. |
| Budget |
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Each year, the Township develops a budget to determine the cost of providing services to our residents. When developing the budget, economic, demographic, taxation and service levels are taken into consideration. Our Finance department analyzes spending trends and ensures the budget meets the needs of the community. The annual budget process begins early November with a presentation to committee on the potential impacts to the upcoming budget followed by several budget discussion meetings to review all departmental operating budgets and the capital budget. The final budget is approved by Council by bylaw. |
| Financial Statements |
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The Township's financial statements are prepared in accordance with Canadian Public Sector Accounting Standards. We maintain high quality systems of internal accounting and administrative controls. These systems are designed to provide reasonable assurance that the financial information is relevant, reliable and accurate, and that the Township's assets are accounted for and protected. Council reviews and approves the Township's financial statements annually. Our statements have been audited by MNP LLP in accordance with generally accepted auditing standards of Canada. |
| Reserve Funds |
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Each year Council budgets to set aside tax dollars to help reduce the need to incur debt to fund capital expenditures. Council adopted a Reserve and Reserve Fund Policy to provide guidance with respect to the development, maintenance and use of Township reserves and reserve funds. |