The Intermodal Agricultural Processing Facility was a municipally sponsored initiative intended to deliver grain storage infrastructure and related economic development benefits to the Town of Cochrane. The project involved multiple financial transactions, contractual arrangements, approvals, and external parties over its lifecycle. The project’s anticipated budget was approx. $2 million. The Town of Cochrane’s average annual budget is approx. $20 million with an annual capital envelope ranging from $4 to $8 million).
The grain bin project did not result in the delivery of a functioning asset and has since been the subject of civil proceedings, insurance review, and external investigative interest. As a result, the Town requires a comprehensive, independent forensic audit to retrospectively examine and document the financial, procurement, and administrative aspects of the project.
The purpose of this forensic audit is to reconstruct the flow and use of public funds, assess compliance with applicable approvals and controls, and clearly document the circumstances surrounding the project’s financial management and outcomes.