Clean audit for SF

Jeff Green | Aug 23, 2023

Council heard from Lori Huber of KPMG, over Zoom, that the 2022 audited financial statements have been audited.

At the start of her presentation, Huber said her video was not working, so it was a voice only presentation, aided by a series of charts.

The auditors at KPMG delivered a clean report, fiding no substantial discrepancies in the reporting by township corporate services staff.

Huber also reported that the township currently maintains reserves that total over 80% of the amount in the annual budget, which was down from 100% the year before, but still well over the ministry of municipal affairs benchmark of 20%.

“The amount is down because a number of capital projects that had been budgeted came to fruition in 2022,” Huber said.

She also reported that 27% of township spending goes to salaries, which is on the low end of the target for a township of its size. But unlke some other townships of its size, South Frontenac contracts out waste collection instead of doing that work in house. South Frontenac spends 32% of its money on contracted services.

After the report was complete, Mayor Vandewal said that he would find it easier to understand the audit findings if a representative from the auditing company could appear live at the council meeting, instead of virtually.