It is necessary to review the financial statements before the meeting
If you have ever attended a presentation of financial statements and balance sheets, you know very well that if you are not sent the reports at least two or three days before the meeting, you will not be able to understand them and ask relevant questions during the meeting. Besides, having financial statements read to you that you have not analyzed beforehand is just useless and boring.uyant.
Avoid attending a financial statement meeting for no reason
In fact, as many of us know, it is better not to attend this meeting. Moreover, it is strongly recommended that a municipality’s financial statements be made available 7 to 14 days before the public meeting to allow citizens, the media, and elected officials to prepare questions and comments. Most citizens also have full-time jobs, children, and activities other than municipal management. It therefore takes a little time to calmly review the financial statements after the children have gone to bed. I speak from experience, as I have three children under the age of 6, and several of my friends living in North Hatley do too.
No official financial report available before the meeting on September 16
To my knowledge and that of my friends, I did not see or receive any financial statements prior to the municipality’s financial presentation on September 16. Honestly, for me, it’s like going to meet an author to ask him questions without having read his book first. As my father used to say, “It’s all nonsense!”
It’s better to be absent at the “financial” presentation on September 16
So, if you ask me why I didn’t attend the “financial” presentation on September 16, it was simply because it was pointless. What’s more, someone who invites you to a financial presentation without providing you with the reports is showing a blatant lack of respect for your time.
Financial reports that are completely unsuitable for citizens
Without taking anything away from our elected officials, if you have tried to understand the financial reports available at the ministry, you quickly realize that it is a complex task even for those who are most familiar with them. In fact, I challenged two accountants with extensive expertise and experience in similar financial reports at the municipality, and both gave up after 45 minutes of reading. It is very dense, complex, and full of footnotes that refer to other footnotes. It is clearly not accessible to citizens. This is unfortunate, because the financial report is intended for citizens who cannot understand it. Is this intentional or simply a habit? Incidentally, was a representative of the auditing firm present at this meeting? Without detracting from our current administration, I do not believe it is capable of simplifying official financial reports. Please note that I am not talking about sending me an entertaining or purely distracting PowerPoint presentation. I want to see financial statements and a balance sheet in proper form.
It is impossible to obtain proper financial reports because they do not exist!
It is difficult to give a presentation on the 2024 financial reports, as they are still unavailable despite the fact that they must be submitted to the ministry by June 30 of each year. Municipalities usually have a fiscal year ending on December 31 of each year.
Inaccurate figures from citizens are possible!
Obviously, citizens do not have access to the official 2024 financial reports, and the current reports available are complex. It is highly likely that the figures provided by citizens and those provided by the mayor could differ, such as the comparison of net debt, long-term debt, and municipal debt. With subsidies, amounts allocated to public utilities, and various financial maneuvers, even the most experienced will get lost in the game. It’s a big 15,000-piece puzzle, some of which can only be found when you put part of the puzzle together! In fact, some citizens have been reminded that the auditors’ figures are much more credible than those of citizens. Allow me to politely say, “At the price the municipality pays the auditors, I certainly hope so!”
Several citizens requested official financial information but did not receive a response
For several weeks, friends and colleagues have been requesting financial information from the municipality. None of them have obtained this information despite formal requests for access to information protected by the Access to Information Act. This certainly does not encourage citizens to take time off work to attend a financial presentation meeting.
Complex financial reports or a PowerPoint presentation that only shows the positive aspects
There are significant discrepancies between the official financial reports available at the ministry and the famous PowerPoint presentation shown to citizens. There is a big shortfall between the two, demonstrating the poor financial qualifications of elected officials. And that’s normal! However, the auditing firm or an experienced person must provide concrete, useful, and unbiased financial data in the public interest. In my opinion, a two-hour presentation of this PowerPoint is, as my father says, “bullshit!”
Conclusion
I don’t know anyone, no matter how qualified they may be, who can quickly understand and explain the municipality’s financial reports in layman’s terms. I was absent from this famous financial presentation because I have a very good idea of how it will unfold and how useless the information presented will be. In fact, anyone with even minimal experience in finance would not go to a PowerPoint presentation without having seen the financial reports beforehand in order to ask effective questions during the presentation. There is no point in wasting two hours of your time listening to partisan information.
In fact, it’s the same thing for me with city council meetings. Decisions are made in advance without consulting citizens, and you’re invited to attend to make it legal. I’d rather listen to old Expos tapes than sit through that! What’s more, the municipality submits the minutes and audio recordings several months later. Is this negligence or malice? The last minutes posted on the municipality’s website date back to April, and the last audio recording to July 7…
And the famous PowerPoint presentation given to citizens after the meeting has little to do with financial reports, apart from a series of very positive figures that highlight the achievements of the current administration. You will notice that it is all positive! To me, this is a sign that the information is biased, partisan, and not in the public interest. Of course, it may be customary in North Hatley and other municipalities to present reports of this quality. However, this custom is not very healthy for citizens who want to know what is going on. Perhaps it is time to review the way things are done, and why not in North Hatley!
On that note, happy voting on November 2!
