Contact(s)
An outside firm reviews the City's financial statements on an annual basis to ensure accuracy. Included in the audit are a consolidated balance sheet, statement of operations, and cash flow documents. Recent Audited Financial Statements:
- 2012 Audited Financial Statement
- 2013 Audited Financial Statement
- 2014 Audited Financial Statement
- 2015 Audited Financial Statement
- 2016 Audited Financial Statement
- 2017 Audited Financial Statement
- 2018 Audited Financial Statement
- 2019 Audited Financial Statement
- 2020 Audited Financial Statement
- 2021 Audited Financial Statement
- 2022 Audited Financial Statement
- 2023 Audited Financial Statement
Financial Statements are created by a third Party and may not be completely accessible. If you require assistance, please contact the City of Orillia at 705-329-7239.
Financial Statement Definitions
What does 'consolidated' mean? We are required to combine financial activities of all sub-organizations that make up the municipality, including boards and commissions.
What is a Consolidated Statement of Financial Position? This statement used to be called a Balance Sheet. It reports the assets (what the City has or is owed to the City) and liabilities (what the City owes to others).
What is a Consolidated Statement of Operations? This statement used to be called an Income Statement. It lists the revenue and expenses of the City. The statement shows the budget, current year and previous year.
What is the Accumulated Surplus? The accumulated surplus represents the value of the assets that are available to provide the wide range of services required in a municipality. It is primarily made up of capital assets such as roads, water and sewer system, buildings, arenas, vehicles and equipment all used to provide services. A small portion of the accumulated surplus is also invested in reserves. The remainder of the surplus provides ongoing cash flow for current operations.
