Annual Financial Report

Overview

The report provides a comprehensive summary of the Region’s key activities and financial performance. It includes audited financial statements from the past year and highlights Regional initiatives, accomplishments and performance statistics.

Highlights of strategic investments

• Water and wastewater infrastructure: $2.2 billion to fund projects such as water and wastewater services for new developments, ensuring a state of good repair and maintenance for plants and facilities.
• Transportation infrastructure: $1.7 billion to support Regional transportation projects such as road widening, grade separations, sound barriers, storm pump stations and road resurfacing.

Credit rating

In January 2022, Moody’s Investors Service affirmed its top credit rating for Halton Region, providing the Region and its Local Municipalities with continued access to the best capital financing rates available. Moody’s report indicated a stable outlook for the years to come and praised Halton’s ability to achieve positive results despite external pressures, such as the COVID-19 pandemic. The Region has maintained its top credit rating from Moody’s Investors Service for the last 34 years. To learn more about Moody’s review and analysis, please read the report presented to Halton Regional Council from the February 16 meeting (PDF file).

Moody’s rating analysis included the following rationale in support of the Aaa rating:

• the community’s diversified economy and strong population growth;
• Halton’s low debt burden and exceptional levels of liquidity;
• the Region’s stable and predictable revenue sources that cushion operating pressures including those related to the COVID-19 pandemic; and
• Halton’s strong management and mature institutional framework.

On June 7, 2022, S&P Global Ratings (S&P) also completed their annual review and maintained their highest rating of AAA for Halton Region. To learn more about S&P’s review, please read the report presented to Halton Regional Council from the June 15 meeting (PDF file).

Maintaining a top credit rating ensures that Halton Region and its four Local Municipalities continue to access the best possible financing rates available, which minimizes long-term infrastructure capital financing costs. This allows public funds to go further when investing in essential Regional works, including road, water and wastewater projects that help build healthy, complete communities.

To learn more about Halton Region’s 2021 Annual Financial Report (PDF file) and Consolidated Financial Statements (PDF file), or request a hard copy, please email accesshalton@halton.ca or call 311.