May 14, 2026Board meeting
City Of Kawartha Lakes Audit Committee Audit Committee Meeting
The committee discussed the city's 2025 budget pressures and deficit strategy, noting an $18.3 million deficit driven by factors including ice storm recovery, road operations, interest shortfalls, and policing costs. Strategies to mitigate the deficit include closing completed capital projects and utilizing city reserves. Furthermore, the committee reviewed the audit results for the 2025 fiscal year, covering audit scope, internal controls, and the treatment of revenue streams such as government grants and restricted contributions.