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Annual Financial Report

Annual Financial Report

Overview

The Annual Financial 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.

Financial Report (PDF File)

Financial Statements (PDF File)

If you require these documents in an alternate format, please call:

The cover of the 2024 Annual Financial Report.

Highlights of strategic investments

Water and wastewater infrastructure:

$4.2 billion to support services for new developments and ensure a state-of-good-repair and maintenance for facilities.

Transportation infrastructure:

$4.1 billion to support development and maintenance of Regional transportation infrastructure, including road widening, grade separations, road resurfacing, road studies, bridges and culvert projects.

Credit rating

Halton Region has maintained top credit ratings from S&P Global Ratings (AAA) since 2002 and Moody’s Investors Service (Aaa) since 1989. Achieving a top credit rating:

  • unlocks the lowest possible financing rates, which helps public funds go further;
  • minimizes the long-term costs of large-scale construction; and
  • allows the Region to deliver maximum value for tax and rate payers when investing in major public works projects.

Maintaining a top credit rating from Moody’s Investors Service and S&P Global Ratings is critical to preserving Halton’s strong long-term financial position as the Region works to build and enhance infrastructure. This distinction is a key objective in the 2025 Budget and Business Plan, and allows public funds to go further when investing in essential Regional works, including road, water and wastewater projects that help build healthy, complete communities.

Moody’s Investor Services Aaa rating

On March 13, 2025, Moody’s Investors Service affirmed its top credit rating for Halton Region for the 37th consecutive year, providing the Region and its Local Municipalities with continued access to the best funding rates in the capital market.

Moody’s report highlighted the following credit strengths as rationale for their decision:

  • a diversified economy and a growing population underpin a rising tax base;
  • exceptional levels of liquidity and low debt burden;
  • stable revenue sources and conservative fiscal management support strong operating margins; and
  • very strong budget and fiscal management practices and a strong institutional framework.

To learn more about Moody’s review and analysis, please read the report presented to Halton Regional Council from the March 19, 2025 meeting:

Report to Council: March 19, 2025 (external link)

S&P Global Rating AAA rating

On June 16, 2025, S&P Global Ratings (S&P) also completed their annual review and maintained their highest rating of AAA for Halton Region.

S&P’s rating analysis included the following rationale in support of the AAA rating:

  • steady population growth, high income levels, and a broad economy foster stability in the Region’s property tax base;
  • prudent financial management efforts and solid economic base;
  • very strong budget performance; and
  • exceptional liquidity position and satisfactory access to external liquidity for financing needs.

To learn more about S&P’s review, please read the report presented to Halton Regional Council from the June 18, 2025 meeting:

Report to Council: June 18, 2025 (PDF File)

Past reports

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