Financial Statements

Town of Cobourg Financial Statements

The consolidated financial statements of The Corporate of The Town of Cobourg are the representations of management. They have been prepared in accordance with Canadian Public Sector Accounting Standards.

The consolidated financial statements reflect the assets, liabilities, revenue, expenses, fund balances of the current, capital, and reserves of the reporting entity. The reporting entity is made up of all organizations, committees and local boards which are owned or controlled by the Town.

Interdepartmental or interorganizational transactions and balances between these organizations are eliminated. These consolidated financial statements include:

Downtown Business Improvement Area (DBIA)
Library Board
Waterworks of The Town of Cobourg

These consolidated financial statements also include the assets, liabilities, revenue and expenses of the Northam Industrial Park which is 100% owned by the Town.

Town of Cobourg Holdings Inc. Financial Statements

Town of Cobourg Holdings Inc. (“Holdco”) is a holding company which wholly owns Lakefront Utilities Inc. (“LUI”) and Lakefront Utility Services Inc. (“LUSI”).

Lakefront Utilities Inc. (LUI) – regulated utility company which distributes electricity and promotes energy conservation.
Lakefront Utility Services Inc. (LUSI) – non-regulated company which includes two divisions – Water and Fibre Optic Services.

Lakefront Utilities Inc. (LUI) owns and operates an electricity distribution system which delivers electricity to approximately 10,000 customers in the Town of Cobourg and Township of Cramahe. The electrical system is proudly operated by the employees of Lakefront Utility Services Inc. (LUSI).

Lakefront Utility Services Inc. (LUSI) provides the human resources, administrative, financial and operational services to Holdco and the utility subsidiaries. LUSI also operates the Water Systems for the Town of Cobourg and the Hamlet of Grafton.

The Corporation of the Town of Cobourg is the majority shareholder of the Town of Cobourg Holdings Inc. with the Township of Cramahe (Colborne) owning one share.

For more information please visit Lakefront Utilities.

Contact Us

Town of Cobourg
55 King Street West
Cobourg, ON K9A 2M2

Phone: 905-372-4301
Toll Free: 1-888-972-4301

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