The Government of Nunavut’s 2024–25 Public Accounts, posted Jan. 20, 2026, report $3.47 billion in consolidated revenue and $3.27 billion in expenses for the year ended March 31, 2025. That left a $196.9-million surplus, compared with a budgeted surplus of $43.4 million. The independent audit says the consolidated financial statements fairly present the government’s financial position and results in accordance with Canadian public-sector accounting standards. Source↗

The surplus does not mean every department had money left over. Health spent $917.7 million, or $198.5 million above budget. Family Services was $39.7 million above budget and Housing was $28.9 million above budget. The government says higher demand for medical and social services, staffing needs, inflation and contracted services contributed to the pressures. Source↗

These accounts are retrospective: they report the audited results of 2024–25 and do not approve new spending. The next Public Accounts will cover the fiscal year that ended March 31, 2026, but were not posted on the Government of Nunavut’s Public Accounts page when checked Oct. 2, 2026. Source↗

Revenue was $161.2 million above budget, including $60.9 million from a tobacco settlement. The government reported $742.0 million in net financial assets at March 31, 2025, up $6.2 million from a year earlier, and said it added $339.0 million in tangible capital assets during the year. Total expenses rose $320.9 million, or 10.9 per cent, from 2023–24. Source↗