By Lexi McFarlane, Times Chronicle

The Town of Oliver’s financial update for Quarter 4 of 2025 was presented, offering a year-end review of the Town’s revenues and expenditures throughout 2025.

The fourth quarter update looks at the financials for the entire calendar year; in this case, January through December of 2025. There were a couple of notes made in the report, the most significant one being that there is an audit that still has to be taken into account. Otherwise, the report showcased where everything stood as of December 31, 2025.

Total revenue was at 77 per cent of budget, though Chief Financial Officer John Kurvink pointed out that transfers of reserve funds, which count as revenue “per the Financial Plan”, had not been accounted for yet. 

Expenditures were at 84 per cent of budget, though similarly to the revenue category, this was not a final number, as some factors still had to be taken into account. 

Overall, Kurvink said, there were “not a lot of comments” on the update, and “the year went well, according to plan.”

Revenue and expenditure numbers did vary by each sub-category, but a few of those sub-categories that exceeded budgeted figures were noteworthy. Corporate Services revenue, which includes several different grants along with victim services and traffic revenue sharing, was listed at 275 per cent. 

Financial services expenditures came in at 125 per cent, but aligned with year-to-date revenue. Capital expenditures came in at 109 per cent of budget, but included the purchase of the 7057 Meadows Drive property.

Likewise, a couple of the sub-categories had significantly lower numbers than expected, which caught the eye of Councillor Petra Veintimilla. 

“Are we thinking that was an anomaly last year?” Veintimilla asked. “Or are we adjusting our expected revenues this year, to reflect the current reality?”

Both Kurvink, and Director of Development Services Paul Sizemore, agreed that it seemed low, but Sizemore offered reasons why that number ended up at 54 per cent.

“We tracked throughout the year, and saw that we were coming in at a lower rate than the preceding year; when looking at the revenues going forward, we used a three-year running average.”

Council voted unanimously to receive the report as presented.