Sooke receives clean audit as surplus grows to $163M

Sooke receives clean audit as surplus grows to $163M

Published 4:30 pm Friday, April 24, 2026

The District of Sooke has received a clean audit for its 2025 financial statements, with external auditors confirming the municipality’s finances are accurate, well-managed, and free of significant issues.

According to the audited financial statements presented to council, Sooke ended 2025 with an accumulated surplus of $163 million, up from $159 million in 2024. The municipality also recorded an annual surplus of $4.1 million.

While the total surplus figure appears large, most of it reflects the value of long-term municipal assets—such as roads, sewer systems, and public buildings—rather than cash available for spending.

Sooke reported total revenues of $28.6 million in 2025, driven largely by property taxes, government transfers, and development-related contributions. Expenses totalled $24.5 million, with the largest costs tied to protective services, development services, and general government operations.

The municipality’s financial position remains stable, with net financial assets of nearly $6 million and relatively low long-term debt at approximately $1.3 million. At the same time, Sooke continues to invest heavily in infrastructure, with more than $5.3 million spent on capital assets during the year.

Despite the positive audit, the financial report comes amid broader budget pressures. Recent council discussions have highlighted rising service demands, infrastructure needs, and affordability concerns for residents.

The audited statements are required annually under the Community Charter and must be submitted to the province by June 30.