Annual Reports by Subject

Auditor General's Comments 

State of New Brunswick’s Financial Condition

Results – Audit of the Province of New Brunswick and Crown Agencies Financial Statements

Annual Deficit, Net Debt and Funded Debt

State of New Brunswick’s Financial Condition

Results – Audit of the Province of New Brunswick and Crown Agencies Financial Statements

FREDERICTON (GNB) – Auditor General Paul Martin tabled a report today in the legislative assembly on his office’s financial statement audit of the provincial government for the 2024-25 fiscal year and other key findings.

While his office issued an unqualified audit opinion, Martin did report on the Province’s $104 million deficit and said, “This is the first recorded deficit in eight years, while net debt increased marginally.”

Martin said this year’s deficit was driven by a $1.1 billion dollar increase in spending, primarily in the Departments of Health and Social Development. His report also noted the Province recorded $156 million in revenue related to the tobacco settlement, arising from litigation against tobacco companies for healthcare-related costs.

The report includes chapters on the Province’s financial condition and findings from financial audits of the government and its Crown agencies.

“I am pleased to report we issued an unqualified, or clean, audit opinion on the Province’s financial statements,” said Martin.