Tillsonburg’s finances given passing grade by auditor

Jeff Helsdon, Editor

The town’s auditor gave a thumbs-up to the town’s financial position at the end of 2025.

Whitney Dean of Millard, Rouse and Roseborough provided an overview of the report to council at the Aug. 10 meeting. The town’s financial assets were $4.68 million at the end of 2025. The non-financial assets, including buildings and equipment, were valued at $47.9 million.

Coun. Bob Parsons questioned why accounts receivable were over $7 million, which is 250 pe rcent higher than at the end of 2024.

Tillsonburg’s deputy treasurer/manager of finance, Cheyne Sarafinchin, explained that several grants for capital projects were still to be received at year-end, totaling $4 million. There was also $1.5 million in transfer payments owing from Oxford County.

“It was just some timing of some of the grants owing,” he said.

Parsons also questioned the increase in amount owing for water and sanitary sewer usage, and if this would be collected.

Dean said if accounts are over the 90-- or 365-day mark, there is uncertainty about whether the amount owed will be collected, but noted it’s Oxford County that writes this down, not the town.

Mayor Deb Gilvesy asked if a report on the $1.7-million year-end surplus will be coming to council at a future meeting. Sarafinchin confirmed this would occur.

Council received the report as information.