Oakville’s Annual Report highlights achievements and strong financial position

Thu, 02 Jul 2015

The Town of Oakville released its 2014 Annual Report (pdf, 10 MB) today outlining the town’s fiscal strength and key achievements in meeting the needs of the community.

“Council is successfully tackling the issues that matter most to the community and keeping our financial promises to achieve promised results,” said Mayor Rob Burton. “The 2014 annual report is a great reflection of our progress and the major milestones we hit over the past year.”

The town’s external auditors, KPMG, have again provided an unqualified audit opinion on the Consolidated Financial Statements. An unqualified, or “clean” audit opinion indicates that the financial statements prepared by the town are a fair presentation of the financial position and financial results for the past year.

The annual report also highlights the progress made towards the priorities outlined in the town’s 2011–2014 Strategic Plan and Vision 2057 Master Plans.

In 2014, the town made great progress on the exciting Downtown Plan to rejuvenate the downtown streetscapes, transportation and cultural facilities. After months of extensive public and stakeholder meetings a staff report went forward to Council to consider options for Lakeshore Road and themes for cultural and performing arts spaces. The new Zoning By-law 2014-14 and inZone Conformity Official Plan Amendment were also approved in February 2014 to guide what, when and how buildings can be constructed in Oakville.

The town is also committed to creating an inclusive community and delivering programs and services accessible to all. As such, the town continued to take steps outlined in our Multi-Year Accessibility Plan (2012–2017) and developed the new Oakville Universal Design Standards for Town Facilities to ensure all town-owned facilities are accessible and barrier-free.

Other highlights from 2014 include the Cultural Heritage Landscape Strategy, the redevelopment design for the historic Oakville Arena, the Heritage Grant Pilot Program, as well as the launch of our first-ever Oakville Children’s Festival which drew over 15,000 visitors to beautiful Coronation Park. The 2015 festival is sure to be another hit.

“We’re continually evaluating town services to make them efficient and affordable. Together, we will continue to create Canada’s most livable town,” added Burton.

The audited financial statements are presented in accordance with the Canadian Public Sector Accounting Standards, and prescribed policies issued by the Ministry of Municipal Affairs and Housing. An annual report with its audited Consolidated Financial Statement presents the financial position of the town and its consolidated entities for the 2014 fiscal year, and in addition provides the reader with 2014 achievements, areas of focus, and 2015 key strategic initiatives.

The financial statements attest to Oakville’s continued solid financial position which allows the town to be well positioned to face future economic and growth challenges.

The 2014 Annual Report can be accessed from the Annual Reports page.