What this page is and why it exists.
This is an interactive, plain-English walkthrough of the Township of Langley’s 2025 audited financial statements. The numbers come straight from the draft annual report signed by KPMG LLP in June 2026. I have simply translated the line items into language anyone can follow.
The page covers five things most residents ask about when they see a municipal budget for the first time. Where did the money come from? Property taxes, water bills, development fees and a few one-time land sales together brought in about $601 million. Where did it go? Roads, police, recreation, utilities and general government operations accounted for roughly $398 million in spending. What was left over? The annual surplus was about $203 million, though most of that is already committed to projects or tied up in physical assets. How much does the Township owe? Total debt climbed to about $584 million, driven largely by new borrowing to build infrastructure. And the figure that catches everyone’s eye: net debt went from roughly $9 million to $131 million in a single year. I explain what that means and why it happened.
Net debt is the difference between what the Township owes and what it holds in financial assets like investments and cash. A negative number is normal for a growing municipality because roads, pipes and fire halls get built before the tax revenue to pay for them rolls in. The jump in 2025 reflects both new borrowing and a change in how much cash was on hand at year-end compared to bills still outstanding. It does not mean the Township is in crisis. It does mean anyone watching local finances should pay attention to how that debt gets paid down over the next twenty to thirty years.
As a note you will see on this page I have included the Financial Statement year end debt and elsewhere I have referred to the debt load being closer to $860M. Here is why – the housing trust society has committed to spending $177M in borrowed money and this had not been spent as of the year end. Also, I included internal borrowing and the financial statements only show external borrowing. Internal borrowing though still requires annual debt servicing.
This explainer was built by Langley Tomorrow, an independent local news project run by Mike Parker. It is not affiliated with the Township of Langley. Full annual report is here: https://www.tol.ca/en/the-township/annual-reports.aspx
