Published by Lakefront Utilities, this is primarily a report on operations with minimal Financial information.  Audited financial statements are available but are not on the Utilities web site but instead are on the Town’s web site – see links below.  This is no doubt appropriate since the Town of Cobourg is the majority shareholder but as recently as the last Municipal election, many were not aware that this information was available.  The Annual report does include a single page of financial numbers and this would be sufficient for most.  But the full statements do list the full “profit” and the “dividend” paid out – to Cobourg.  The profit not used for the dividend appears to be used to add to… Read complete articleHoldco Releases Annual Report for 2018