Norfolk County has posted a $10.7 million surplus for its levy-supported operations in 2024, according to the municipality’s latest audited financial statements.
Presented during a recent Council-in-Committee meeting, the surplus was attributed to staffing vacancies, lower-than-expected contract costs, and higher revenue collections.
An additional $2.1 million surplus was recorded in rate-supported services, with funds used to avoid new debt and bolster reserves.
The County also received a record $16.5 million capital grant to upgrade the Port Dover Water Treatment Plant.
Despite the strong financial finish, officials cautioned that the results are largely one-time in nature and that a $33.6 million annual infrastructure funding gap remains.
Staff noted that Norfolk continues to have one of the highest rate-supported debt levels per capita in Ontario, particularly affecting water and wastewater affordability.