NEWS RELEASE

HRM Council Accepts Audited Financial Statements

(November 13, 2009) - Halifax Regional Council has accepted the Audited Consolidated Financial Statements of the municipality, for the fiscal year ended March 31, 2009.

HRM received an unqualified audit opinion from KPMG, external auditors for the Halifax Regional Municipality. Councillor Gloria McCluskey, Chair of the Audit Committee, and Mayor Peter Kell,y commended the work of HRM Finance staff as well as the audit team from KPMG, in ensuring the financial reporting of the municipality is complete and fairly presented.

"Council is very focused on prudent fiscal management and ensuring all decisions we make are well thought out with financial implications fully disclosed and considered," said Mayor Kelly following Tuesday evening’s Council vote to accept the statements.

HRM Chief Administrative Officer Dan English, and Chief Financial Officer Cathie O'Toole are pleased that HRM was able to close out the 2008/09 fiscal year with an operating surplus of $825,000.

“While modest, this surplus will help offset some significant budget risks for this year, particularly as we head into the snow and ice season,” said CAO Dan English. “I am grateful to all HRM staff who contributed to sound financial management throughout the year".

- 30 -

Contacts:
Shaune MacKinlay
Manager, Public Affairs
Halifax Regional Municipality
(902) 490-6531

Cathie O’Toole
Director of Finance/CFO
Halifax Regional Municipality
(902) 490-6308