That Council of the Township of Whitewater Region approve the 2020 Audited Financial Statements prepared by MacKillican & Associates and accept the Management Letter for information purposes.
Treasurer Sean Crozier reported that the audit provided a “clean opinion” on behalf of the financial staff of the Township.
“The biggest misconception of any audit is that the auditor’s do everything and then catch every mistake. That’s not really the case.” he said. “All financial staff are responsible for fair presentation of our financial statements.”
“The auditor is simply expressing an opinion, and it is are responsibility to present a clear assessment of our finances.”
He said that Accounts Receivable had gone down from 1,112,264 to 613,000 from 2019 to 2020.
He said deferred revenue was down because they did not defer any OCIF funds, for a different of 241,000
The total assets were 87,316,556.
Councillor Nicholson asked if they ever tried to correlate the assets ‘by segment’.
He said there had some “discrepancies” regarding landfill fees due to the written nature of it.
‘It’s pen to paper in the landfill.” Crozier said. “It’s chicken scratches sometimes. This is just a note to have a care.”
The motion was carried.
