Annual required financial reporting includes:
- Five-Year Financial Plan bylaw and Annual budget
- Revenue Anticipation bylaw
- Audited Financial Statements
- Statement of Financial Information
The Five-Year Financial Plan Bylaw and annual budget, and the revenue anticipation bylaw are reviewed and approved annually by the Ministry of Municipal Affairs.
Audited Financial Statements
Islands Trust undergoes an independent financial statement audit on an annual basis. Trust Council approves these audited financial statements and makes them available to the public.
Islands Trust Conservancy also undergoes an independent financial statement audit on an annual basis. The Islands Trust Conservancy Board approves their audited financial statements before they are received by Trust Council. These audited financial statements are also made available to the public.
The audited financial statements for both Islands Trust and the Islands Trust Conservancy include:
- The independent auditor’s report on our annual financial statements.
- Our financial position at the end of the fiscal year with comparative information for the year prior
- Our financial operations for the fiscal year against approved budget, with comparative information for the year prior, and the fiscal year
- Changes in Islands Trust net financial assets and cash balances in the year
- Information on our significant accounting policies and additional notes to help the reader better understand the financial reports.
Islands Trust Audited Financial Statements for the Last Five Years
Islands Trust Conservancy Audited Financial Statements for the Last Five Years
Islands Trust Conservancy Financial Statement March 31, 2021VIEW (PDF 549 KB) VIEW (PDF 549 KB)
Islands Trust Conservancy Financial Statement March 31, 2020VIEW (PDF 246 KB) VIEW (PDF 246 KB)
Islands Trust Conservancy Financial Statement March 31, 2019VIEW (PDF 291 KB) VIEW (PDF 291 KB)
Islands Trust Conservancy Financial Statement March 31, 2018VIEW (PDF 253 KB) VIEW (PDF 253 KB)
Statement of Financial Information
The Islands Trust Statement of Financial Information is a supplementary financial report that contains additional financial information not outlined in the audited financial statements. This statement is not audited but is reviewed by the Islands Trust Financial Planning Committee and approved by Islands Trust Council. It includes spending on items such as salaries, goods and services, technology, etc. that are paid by Islands Trust on behalf of Island Trust Conservancy.
The Statement of Financial Information shows:
- A schedule of guarantee and indemnity agreements (if applicable).
- A statement of severance agreements (if applicable).
- Schedules of remuneration and expenses paid to, or on behalf of, trustees and employees.
- A schedule of payments to suppliers for goods and services.