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Norfolk County says it is continuing to strengthen its long-term financial position after presenting its 2025 Audited Financial Statements and Investment Update to Council-in-Committee.
The reports show the County ended 2025 with a $9.68 million operating surplus for tax-supported services. Officials say the surplus will build reserves, prepare for emergencies, improve roads and reduce future borrowing costs.
Reserve balances have grown from about $14 million in 2020 to more than $147 million in levy reserves and reserve funds by the end of 2025.
The County also reported strong investment returns, earning $10.4 million from short- and medium-term investments and $10.3 million through the Legacy Fund, a 12.8 per cent return in 2025. Officials say the investment income supports reserves, capital projects and operating budgets while avoiding more than $2.4 million in future debt financing.
Positive water and wastewater results will also help fund future infrastructure needs, driven by growth, higher-than-expected usage and operational efficiencies.
Chief Administrative Officer Al Meneses said the progress reflects careful planning and responsible decision-making.
“Through careful planning and responsible decision-making, Norfolk County is better positioned to support important infrastructure investments and maintain the services residents rely on,” said Meneses. “Norfolk should be proud of the financial progress made during this term of Council. Momentum is building towards a solid financial base for generations to come.”
The reports were received by Council-in-Committee on July 14 and will go to Norfolk County Council for final approval on July 28.
Written by Jeremy Hall
