Demonstrating Halton’s strong financial position

financialreport2015Each summer, Halton Region publishes its Annual Financial Report for the previous calendar year, and I am pleased to announce that the 2015 report is now available on halton.ca. The report includes audited financial statements, as well as a year-end analysis of Halton’s financial position. Halton Region is committed to being a transparent, accountable and fiscally responsible government­—this report helps us deliver on that commitment.

The report demonstrates our accountability to residents and builds international confidence in Halton Region as we keep taxes low and foster a high quality of life. By providing financial data for the credit rating assessments completed by external rating agencies, the report contributes to preserving our AAA credit rating. This top rating allows the Region and its four Local Municipalities to finance major infrastructure projects at the lowest possible cost to tax and rate payers.

The Annual Financial Report also helps guide strategic investment by providing a look back at some of our achievements last year, all of which align with the resident priorities identified in the Strategic Action Plan. Highlighted achievements in the 2015 report include:

  • investment of over $3.7 billion in infrastructure capital over the next 10 years;
  • ongoing investment in our transportation network to strengthen the economy and reduce traffic;
  • introduction of new initiatives, such as the Region-wide Basement Flooding Mitigation Study, to increase the resilience of our infrastructure;
  • approval and implementation of long-term planning projects, such as the Burlington Beach Waterfront Master Plan; and
  • an annual investment of $35.9 million in social infrastructure, which will have created a projected 1,323 new assisted housing opportunities by the end of 2016.

On July 13, Regional Council approved the 2017 Budget Directions Report, and development of the 2017 Budget and Business Plan is now well underway. The 2015 Annual Financial Report will assist us in preparing this essential document by providing valuable insight that will help drive our strategic investments in the coming year.

To learn more, please visit halton.ca/annualreport.

As always, if you have any Regional concerns or comments you would like to share, please feel free to email me at gary.carr@halton.ca. You can also find me on Twitter, LinkedIn or Facebook. To receive further updates on Regional issues, please subscribe to my quarterly e-newsletter, “The Carr Report”.