Nunavut has posted a new plain-language “Public Accounts at a Glance 2025” summary, updated Sept. 16, alongside its full 2024–25 public accounts. The detailed accounts cover the fiscal year ending March 31, 2025 and were audited by the Auditor General of Canada. The auditor found the consolidated statements fairly presented Nunavut’s financial position in all material respects and found transactions that came to its attention complied, in all material respects, with the specified legal authorities. Source↗ Source↗

The accounts show actual results rather than planned spending. Nunavut recorded $3.47 billion in revenue and $3.27 billion in expenses. Health was the largest expense area at $917.7 million, or 28 per cent of total spending. The government attributes the health increase over budget partly to higher demand for medical services and costs for medical travel, including medevac-related air charters. Housing spending was $374.7 million, $28.9 million above budget, while Family Services spent $246.9 million, $39.7 million above budget. Source↗

The 2024–25 accounts are completed audited results, not a new spending approval. The next annual public accounts will report on the fiscal year ending March 31, 2026, after the government completes its year-end reporting and external audit process.

The $196.9-million surplus was $153.5 million above the original budgeted surplus. Total revenue was $161.2 million higher than budget, including $151.6 million more in Government of Nunavut-generated revenue. The government says $60.9 million in tobacco-settlement proceeds contributed to the result, but notes that the size and timing of future payments are uncertain. Total liabilities stood at $1.56 billion on March 31, 2025, up from $1.39 billion a year earlier. Source↗