The City of Leduc ended 2024 with a minimal budget variance of 2.7% demonstrating accurate budgeting and responsible spending throughout the year. The year-end accounting and financial results also received a clean audit opinion from MNP LLP, an independent third party, at City Council on April 14.
“The clean audit of the City’s 2024 year-end financial results confirms our strong fiscal management and reporting accuracy while delivering the services residents rely on” says Bob Young, Mayor of the City of Leduc. “Through careful stewardship of public funds, we have maintained a balanced financial position that allows us to provide essential services and plan responsibly for the future.”
Surplus breakdown:
• $1.7 million in revenue surplus primarily from sale of services and utility services
• $1.6 million in expense savings primarily from contracted services, and materials and supplies
The surplus will go into the City’s operating reserves (50%) and capital reserves (50%).
The City of Leduc submits its year-end results for an independent audit at the end of each year, and the audited financial statement is released each spring after the results are presented to Leduc City Council.
More info:
• 2024 Audited Financial Statement
• Learn more about Leduc’s municipal budget
You may also be interested in...
