Perth ended 2025 with a surplus of about $399,000, according to financial statements presented to council on Tuesday, Sept. 22.
KPMG audit partner Katie Mahon told council the audit found no corrected or uncorrected misstatements and no significant deficiencies in the town’s financial controls.
“It is a very clean audit and very clean audit findings,” Mahon said.
Mahon said the audit took longer this year because of turnover in the town’s finance department. The additional time allowed staff to prepare the books before the auditors arrived.
The town reported revenues of about $21.6 million and expenses of $21.2 million. Reserves rose from $12.9 million to $13.5 million, and net financial assets stood at about $5.6 million at year’s end.
Mahon said the town’s cash holdings increased after guaranteed investment certificates matured and were not reinvested. Accounts receivable also rose, largely because of the timing of government grants. She said the risk of not collecting those amounts was minimal.
Council also heard that a new accounting standard taking effect in 2027 will change how financial statements are presented, but will not change how the figures are calculated.
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