Williams Lake's city council received a report from their financial auditor at their regular meeting on April 15, 2025.
Kane Fraser, of MNP Chartered Professional Accountants, attended in person to present his auditor's report, highlighting some differences from previous years and responding to questions from council and staff.
He directed council first to the consolidated financial position and net financial assets of the city up to the end of 2024, which showed cash being greater than liabilities for the city.
Fraser said the opinion on the report constitutes a "clean audit opinion."
He pointed to the consolidated statement of the city's financial position, which shows the city had $47.2 million in financial assets at the end of 2024 and $16.1 million in liabilities, which then balances out to $31.1 million in net positive financial assets.
"I would say that is a pretty significant improvement in the city's net financial position over the last decade," said Fraser, noting there were times when the city's liabilities were greater than their cash or claims to cash.
Gary Muraca, chief administrative officer for the city, asked about the Pioneer Complex building, which the city has become the owner of as a result of a failure to pay taxes. The building will represent an unknown liability for the city, as the building has multiple problems including damage from the historic landslide it is built on.
Fraser said the liability associated with the building is not included in the report because the cost is not yet known or reasonably estimated, only the asset value would so far be included in the current financials.
Fraser then also drew the council's attention to some changes over previous years including the purchase of some tangible assets such as the new snowblower for the airport.
The report was received by council.
"It's not done by one person, council or staff, the community, we are all together in this," said Mayor Surinderpal Rathor, though he did thank Vitali Kozubenko, chief financial officer, for his work.
"Overall I'm so happy and delighted on behalf of the council the way our financial house is in order," said Rathor.
