{"id":216059,"date":"2026-02-25T14:17:00","date_gmt":"2026-02-25T19:17:00","guid":{"rendered":"https:\/\/doppleronline.ca\/huntsville\/?p=216059"},"modified":"2026-02-25T14:18:54","modified_gmt":"2026-02-25T19:18:54","slug":"huntsville-to-absorb-212200-revenue-shortfall-from-anticipated-lakeland-dividends","status":"publish","type":"post","link":"https:\/\/doppleronline.ca\/huntsville\/huntsville-to-absorb-212200-revenue-shortfall-from-anticipated-lakeland-dividends\/","title":{"rendered":"Huntsville to absorb $212,200 revenue shortfall from anticipated Lakeland dividends"},"content":{"rendered":"\n<p>At the February 25 General Committee meeting, Huntsville Councillors were informed that the Town will only receive half of the anticipated dividends from Lakeland Holding Ltd.<\/p>\n\n\n<div style=\"float: left; margin-right: 14px;\"><strong><broadstreet-zone zone-id=\"45658\" keywords=\"\" soft-keywords=\"true\" zone-alias=\"\"><\/broadstreet-zone><\/strong><\/div>\n\n\n\n<p>According to a report to committee by Town CAO Denise Corry, the reduction amounts to $212,200, compared to $424,400 in revenue identified in the municipality&#8217;s 2026 Budget.<\/p>\n\n\n\n<p>&#8220;Staff will bring back recommendations to fund this one-time reduction in revenue for 2026 in the Q1 update. It may be recommended that this shortfall be funded from the Working Funds reserve if other operational savings are not expected to be realized in 2026,&#8221; states the report.<\/p>\n\n\n\n<p>The Town of Huntsville is a shareholder of Lakeland Holding Ltd. The municipality owns 22.12% of the company, along with five other municipalities that, collectively and at varying percentages, own Lakeland Holding Ltd.: Bracebridge, Parry Sound, Burk&#8217;s Falls, the Village of Sundridge, and the municipality of Magnetawan.<\/p>\n\n\n\n<p>Huntsville Mayor Nancy Alcock said a special shareholders meeting was convened, &#8220;and as you can imagine, everyone was concerned, partially because of the speed with which it happened and the lack of sort of notice&#8230; and certainly from one shareholder&#8217;s perspective, Bracebridge, they were quite aghast because they were in the middle of their budget process and they&#8217;re a much larger shareholder than we are in Huntsville.&#8221;<\/p>\n\n\n\n<p>The Mayor described the shortfall as a &#8220;confluence of events.&#8221;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A reduction in hydro generation revenue due to drought conditions in both years, 2024 and 2025.<\/li>\n\n\n\n<li>A major equipment failure at the Centennial Station in Bracebridge, and<\/li>\n\n\n\n<li>Significant costs associated with two ice storm events.<\/li>\n<\/ul>\n\n\n\n<p>Alcock said it resulted in an estimated $5.1M in unanticipated revenue reductions. She said the internet provision side of the company is doing well and is growing. She said they continue to work on efficiencies and have rationalized operations to ensure the company is not in the same position again.&#8221;So they are very hopeful that they bring that back.&#8221;<\/p>\n\n\n\n<p>She said shareholder representatives will have more frequent and in-person meetings with the Lakeland board.<\/p>\n\n\n\n<p>Municipal staff is expected to return in April with recommendations on addressing the shortfall in the 2026 budget.<\/p>\n\n\n\n<p>According to the report, Lakeland Holding Inc. has indicated that it plans to return to higher dividends in 2027 and may even issue a special dividend depending on conditions.<\/p>\n\n\n\n<p>&#8220;I like the fact that there is a potential for a special dividend should circumstances allow. So, you know I think there was some discussion about how secure is this investment. Moving forward, is it the right thing to do? And I think if these things come to fruition, then I feel a little more comfortable,&#8221; said Councillor Jason FitzGerald.<\/p>\n\n\n\n<p>&#8220;That&#8217;s how we felt. I think there was a sense when we all got together for that special meeting that we were loaded with questions and they were also loaded with answers and equally concerned,&#8221; said Alcock, adding that company representatives &#8220;really drilled down&#8221; to find savings.  <\/p>\n\n\n<h5 style=\"text-align: center;\">Don\u2019t miss out on Doppler!<\/h5>\n<p style=\"text-align: center;\"><strong>Sign up <a href=\"https:\/\/doppleronline.ca\/huntsville\/dont-miss-out-on-doppler\/\"><u>here<\/u><\/a> to receive our email digest with links to our most recent stories.<br \/>\nLocal news in your inbox so you don&#8217;t miss anything!<\/strong><\/p>\n<p style=\"text-align: center;\"><a style=\"background: #5cb85c url('https:\/\/d1iczxrky3cnb2.cloudfront.net\/red_logo.png') no-repeat 37px; color: #fff; text-decoration: none; font-family: Verdana,sans-serif; display: inline-block; font-size: 16px; padding: 15px 38px; padding-left: 75px; -webkit-border-radius: 2px; -moz-border-radius: 2px; border-radius: 2px; box-shadow: 0 1px 0 0 #1f5a89; text-shadow: 0 1px rgba(0, 0, 0, 0.3);\" href=\"https:\/\/donorbox.org\/support-huntsville-doppler\">Click here to support local news<\/a><\/p>\n<p style=\"text-align: center;\"><broadstreet-zone zone-id=\"45657\" keywords=\"\" soft-keywords=\"true\" zone-alias=\"\"><\/broadstreet-zone>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>At the February 25 General Committee meeting, Huntsville Councillors were informed that the Town will only receive half of the anticipated dividends from Lakeland Holding Ltd. According to a report [&#8230;]<\/p>\n","protected":false},"author":1904,"featured_media":181486,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10],"tags":[],"class_list":["post-216059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Huntsville to absorb $212,200 revenue shortfall from anticipated Lakeland dividends - Huntsville Doppler<\/title>\n<meta name=\"description\" content=\"On February 25, Huntsville Councillors were informed that the Town will only receive half of the anticipated Lakeland dividends.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/doppleronline.ca\/huntsville\/huntsville-to-absorb-212200-revenue-shortfall-from-anticipated-lakeland-dividends\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Huntsville to absorb $212,200 revenue shortfall from anticipated Lakeland dividends - 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