Municipal Reports & Financials

Access the Town of Magrath’s financial documents, including audited financial statements, annual reports, and budget reports. These documents provide transparency on municipal spending, revenue, and strategic priorities, helping residents stay informed about how public resources are managed and allocated.

Reports	Documents	Description
Budget Reports	2025	Budget reports present the municipality’s planned expenditures, anticipated revenues, and strategic priorities for the upcoming fiscal year. They provide transparency on how public funds will be allocated across services, infrastructure, and initiatives, helping residents understand municipal decision-making and fiscal planning.
Annual Reports	2022 2023 2024	Annual reports summarize the Town’s operations, achievements, and performance over the previous year. They highlight completed projects, service delivery, strategic initiatives, and community programs, giving residents insight into how the municipality meets its goals and serves the community.
Financial Statements	2015 \| 2016 2017 \| 2018 2019 \| 2020 2021 \| 2022 2023 \| 2024	Financial statements provide a comprehensive record of the Town of Magrath’s financial position, including revenues, expenditures, assets, and liabilities. They are audited annually to ensure accuracy and accountability, offering residents a transparent view of how municipal funds are managed and the overall financial health of the community.

Understanding and Reading Financial Statements

Municipal financial statements provide residents with a transparent view of how public funds are managed and the overall financial health of the Town of Magrath. Key components include:

Financial Position Statement
The Financial Position Statement presents an overview of a municipality's assets, liabilities, and accumulated surplus. It is essential to consider this statement in the broader context of the municipality's long-term financial well-being rather than solely focusing on its current bank balance.

Operations Statement
The Operations Statement provides a comprehensive account of a municipality's revenues, expenses, and financial results for a specific fiscal year or reporting period. It offers detailed insights into the transactions that have influenced the accumulated surplus from the beginning to the end of the year.

Change in Net Financial Assets (Debt) Statement
The Change in Net Financial Assets (Debt) Statement elucidates the discrepancy between the annual surplus or deficit and the alteration in net financial assets (debt). This statement tracks the municipality's expenditure on acquiring tangible capital assets and inventory supplies.

Cash Flow Statement
The Cash Flow Statement identifies the sources of cash inflow, demonstrates the utilization of cash, and provides a breakdown of changes in cash and cash equivalents since the previous reporting period.