The Corporation of the Municipality of Chatham-Kent

24 Deloitte LLP 195 Joseph Street   Kitchener ON N2G 1J6 Canada Tel: 519-650-7600 Fax: 519-650-7601 www.deloitte.ca     Independent Auditor’s Report To the Members of Council, and the Citizens of The Corporation of the Municipality of Chatham-Kent Opinion We have audited the accompanying consolidated financial statements of The Corporation of the Municipality of Chatham-Kent (the “Municipality”),. [...] In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of The Corporation of the Municipality of Chatham-Kent as at December 31, 2021 and the results of its operations, changes in net financial assets, and its cash flows for the year then ended in accordance with Canadian public sector accounting standards. [...] Significant aspects of the accounting policies adopted by the Municipality are as follows: Basis of consolidation These consolidated financial statements reflect the assets, liabilities, revenues and expenses of the reporting entity and include the activities of all committees of Council and the following local boards and municipal entities which are under the control of Council: Chatham-Kent Pu. [...] Significant accounting policies (continued) Management estimates The preparation of these financial statements in conformity with Canadian public sector accounting standards requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amoun. [...] Net long-term liabilities (a) The balance of net long-term liabilities reported on the Consolidated statement of financial position is made up of the following: 2021 2020 $ $ Total long-term liabilities incurred by the Municipality including those incurred on behalf of former municipalities and municipal enterprises and outstanding at the end of the year.