Waiting for financial statements for 2024

Clearwater County, Alberta, has released information regarding its 2024 operating and capital budgets, but the full 2024 Annual Financial Statement is not yet available in the provided search results. Below is a summary of the available financial data for 2024, along with relevant historical financial information from 2022 and 2023 to provide context.

2024 Budget Overview

Clearwater County Council approved the 2024 operating and capital budgets on December 6-7, 2023. The operating budget includes revenues of $62,513,392 and expenses of $51,713,665 (excluding $23,500,000 in amortization). Additionally, $4,500,545 of restricted funds are allocated for operations. The capital budget comprises revenue of $10,849,300 and expenses of $40,366,896, with $29,517,596 of restricted funds designated for capital projects. These budgets reflect the County's efforts to address inflation and meet community needs, as noted by Reeve Michelle Swanson3.

Historical Financial Data

Since the complete 2024 Annual Financial Statement is not available, the following sections summarize key financial data from the 2023 and 2022 consolidated financial statements for context.

2023 Financial Highlights

• Revenue: Total revenue for 2023 was $52,838,602 from net municipal taxes, with additional income from user fees ($4,677,800), investment income ($3,324,022), and government transfers for operating purposes ($1,696,376)1.

• Annual Surplus: The County reported an annual surplus of $5,929,733, compared to a budgeted deficit of $1,924,5851.

• Accumulated Surplus: By the end of 2023, the accumulated surplus reached $490,153,507, up from $484,223,774 in 20221.

• Net Financial Assets: Net financial assets saw changes due to the purchase of tangible capital assets ($38,002,204) and amortization ($23,570,500)1.

• Cash and Cash Equivalents: Cash and cash equivalents decreased to $52,563,032 by the end of 2023, down from $62,261,125 in 20221.

2022 Financial Highlights

• Revenue: Total revenue included $46,121,733 from net municipal taxes, $5,127,217 from user fees and sales of goods, and $2,469,490 from investment income2.

• Annual Surplus: The annual surplus was $4,827,576, against a budgeted surplus of $8,284,4782.

• Accumulated Surplus: The accumulated surplus at the end of 2022 was $484,223,774, up from $477,392,458 in 2021 (restated)2.

• Net Financial Assets: Net financial assets decreased to $98,915,945 from $105,572,145 in 20212.

• Cash and Cash Equivalents: Cash and cash equivalents were $62,261,125 at year-end, down from $65,442,034 in 20212.

• Tangible Capital Assets: The net book value of tangible capital assets was $374,837,150, with significant investments in roadways and bridges ($228,216,712)2.

Notes on Availability

The full 2024 Annual Financial Statement for Clearwater County is not included in the provided search results. The auditors' report for 2023 indicates that the annual report is expected to be made available after April 23, 20241. For the most current and complete financial statement for 2024, it is recommended to check the official Clearwater County website or contact the County administration directly for updates on the release of the 2024 Annual Financial Statement.

If you require further details or specific breakdowns from the 2023 or 2022 statements, or if additional information becomes available, I can assist with that analysis.

Citations:

1. https://www.clearwatercounty.ca/Home/DownloadDocument?docId=b78598a2-45a5-4f89-98c4-1e42d96f6630
2. https://www.clearwatercounty.ca/Home/DownloadDocument?docId=d5087a98-12b0-493c-a213-3bea97f7d15b
3. https://www.clearwatercounty.ca/Home/DownloadDocument?docId=86f4956a-6a38-4c99-bc75-8411ae8d53e3
4. https://open.alberta.ca/dataset/9c81a5a7-cdf1-49ad-a923-d1ecb42944e4/resource/6d4b2e7f-0d65-4e32-b8b1-8ef318e428c5/download/tbf-goa-2023-2024-final-results-year-end-report.pdf
5. https://www.clearwatercounty.ca/p/budget
6. https://www.clearwatercounty.ca/p/financial-services
7. https://centralalbertaonline.com/articles/clearwater-county-holds-tax-rates-steady-for-2025
8. https://www.alberta.ca/government-and-ministry-annual-reports
9. https://www.clearwatercounty.ca/Home/DownloadDocument?docId=618e9149-0a38-46ce-a680-33dc3c76a3fe
10. https://www.clearwatercounty.ca
11. https://www.clearwatercounty.ca/Home/DownloadDocument?docId=291add8f-6aa3-431c-97f3-3523cd05bf7a
12. https://www.reddeeradvocate.com/local-news/final-clearwater-county-caroline-amalgamation-report-now-available-7418187
13. https://regionaldashboard.alberta.ca/region/clearwater-county/
14. https://www.clearwatercounty.ca/p/property-taxes
15. https://www.clearwatercounty.ca/p/news-releases
16. https://open.alberta.ca/dataset/2c12785f-b426-44dc-aea5-f4be2e8f97ec/resource/fa1a8ce5-33c5-4091-b804-c50c6771e055/download/ma-annual-report-2020-2021.pdf

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