Photo by Emily Chatwood / MBC News
Greater Napanee’s financial position improved in 2025, according to draft audited financial statements presented to town council Tuesday.
The statements were prepared by KPMG and presented by Katie Mahon during council’s Sept. 22 meeting.
Mahon highlighted an increase in the town’s reserves, which grew from $17.4 million to $20.8 million. Net financial assets also increased to $6.3 million.
The statements included a new line for land held for resale, with $1.6 million reclassified from capital assets.
Property tax receivables remained consistent compared with the previous year, while accounts receivable related to government grants increased slightly.
Coun. Michael Schenk asked how Greater Napanee compares financially with other municipalities. Mahon said municipal comparisons can be difficult because each community has different needs and capital plans.
She said Greater Napanee’s financial record-keeping and overall financial health have improved compared with 2024.
