By TERRY PUGH
The City of Warman ended the 2025 calendar year with a $7.7 million surplus, according to an audited financial report by Deloitte LLP that was approved by Warman City Council during a meeting on Monday, June 22.
The year-end surplus was a result of stronger-than-budgeted investment income, growth-related taxation revenue, grant funding and fire response revenues.
The audited financial statement is prepared annually and reflects the city’s financial position and results of operations.
According to the report, the City of Warman brought in total revenues of $33,111,053 in 2025, compared to a budget of $28,437,710.
As noted in a city administration backgrounder to the June 22 council meeting: “Key contributors to the favourable variance included:
* approximately $2 million in unbudgeted investment income;
* approximately $500,000 in additional property tax revenue resulting from assessment growth and development activity;
* approximately $700,000 in additional grant revenue above budget, including approximately $400,000 of Canada Community-Building Fund revenue recognized in accordance with accounting standards following approval of the Warman Home Centre Communiplex expansion project;
* approximately $1 million in additional fire rescue revenue associated with northern fire support activities.”
On the expenses side, the city also paid out $3,313,176 more than budgeted in 2025. Total expenditures amounted to $27,492,507 compared to a budget of $24,179,331. The actual expenditures include $6.99 million in amortization expense.
The city’s total financial assets as of December 31, 2025 stood at $70,998,520; this compares with $71,465,058 in 2024. According to the auditors, “overall financial asset levels remained relatively consistent with the prior year.”
And while overall total financial assets were down slightly; so too were the city’s total liabilities, which amounted to $15,851,581 in 2025, compared to $18,601,364 in 2024. The reduction in liabilities was due primarily to continued repayment of the long-term debt on the Warman Home Centre Communiplex, which decreased from $12.95 million to $12.12 million over the course of the year.
The city’s non-financial assets, meanwhile, continue to increase – from $201,819,063 in 2024 to $207,211,089 in 2025 – as a result of continued investment in capital infrastructure. The biggest projects in 2025 included the completion of Lift Station 3 and the Warman Home Centre Communiplex expansion.
The city’s accumulated surplus also increased last year, from $254,682,757 in 2024 to $262,358,028 in 2025.
As the audited financial statement noted: “The majority of the accumulated surplus is invested in tangible capital assets and is not available for general operating purposes. The accumulated surplus consists of:
*$195 million invested in tangible capital assets;
* $29.9 million in unappropriated surplus available to temporarily finance operations until planned revenues are received or for other purposes as determined by Council.
* $37.5 million in appropriated reserves.”