Town of Cobourg reports 2020 Financials

At last Monday’s Committee of the Whole Council meeting, the audited financial statements for 2020 were presented.  The audit was clean – KPMG signed off saying that the statements were truthful (that’s really what an audit does – looks for untruths or errors).  Jennifer Heslinga, from the Town’s Finance Department made a long presentation and apart from a few interesting items, it was all about esoteric accounting details with an emphasis on what the pandemic did to the numbers and how the reserves work.  Frankly, I did not understand the details on reserves so I’ll just report the interesting items. For example, where did the money come from and where did it go. Big picture? Cobourg gets only 47% of… Read complete articleTown of Cobourg reports 2020 Financials