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Annual reports

The City of Calgary’s annual reports have consistently won the Government Financial Officers Association (GFOA) award for financial reporting.

2016 Annual Report

City of Calgary 2016 Annual Report cover page
 
 

The City of Calgary’s 2016 Annual Report provides consolidated financial statements prepared in accordance with Canadian Public Sector Accounting Standards.

The report’s theme – Making Life Better Every Day – underscores our common purpose for more than 1.2 million Calgarians we take pride in serving. It also acknowledges the hardships faced by many Calgarians in 2016 and highlights accomplishments delivered to show continued progress being made in building a great city.

The 2016 Annual Report is part of The City’s commitment to provide effective governance, increased accountability, transparency, and a well-run City. It provides a comprehensive view of the 2016 consolidated financial statements consistent with Canadian best practices applicable to municipalities.

The Canadian Public Sector Accounting Standards reporting model prescribes five indicators of performance. Together, these indicators help the reader understand how well The City has managed its finances in the year and where it stands in terms of resources held and debts owed at the end of the year.

Financial statements

Despite the changing economic environment, The City’s 2016 consolidated financial statements continued to reflect a strong financial picture of a municipality investing in infrastructure.

Strong fiscal management is also confirmed by The City’s current credit ratings - identified among the best for Canadian Municipalities by Standard & Poor’s and the Dominion Bond Rating Service.

In 2016, The City was able to implement its business plans and budgets essentially as expected. The City is entering 2017 as the third year of a four-year plan reflecting long-term goals and continues to monitor its financial performance so it can address local effects resulting from the recent economic downturn.

Highlights

The report features numerous examples of The City’s efforts to quickly switch our focus to supporting the economy, keeping Calgarians working and reducing the cost of local government. Four stories are highlighted to address rapid swings in the economic environment while continuing to deliver programs and services to meet citizen needs and planning for the community’s long-term development and growth:

  • Working to address the needs of Calgarians – five initiatives to help ensure the needs of citizens are being met, including, the Fair Entry Program - one initiative that shows The City’s commitment to focusing on citizens and ensuring all Calgarians have access to City services, regardless of their income level. The City’s partnership with a number of not-for-profit agencies to provide safe, quality after school programs. The acquisition of East Village Place to help maintain the supply of affordable housing as well as the creation of the Housing Incentive Program to encourage the development of affordable housing units and help stimulate Calgary’s economy. Additionally, a Newcomers Guide to Calgary was created to enable new citizens to navigate the city, access City services and to build a social network.
  • Putting Capital and Calgarians to work – the creation of Infrastructure Calgary and the new Capital Investment Plan has helped to increase the quality and speed of capital investment in our city. This stimulates the economy, creates jobs, delivers value to citizens and attracts new investment to Calgary.
  • Helping Calgary’s Business Community - City staff worked closely with members of industry to streamline The City’s planning approvals process, better communicate submission requirements and identify issues earlier in the process. Overall, the frequency in which timelines are being met has improved significantly.
  • Running a More Efficient City – reducing the cost of local government has been a significant contributor in The City’s efforts to support Calgary’s economy. The way we’ve been able to do this is by intentionally managing our financial position.

Previous annual reports

View the consolidated financial statements and accomplishments achieved in prior years:

2015 Annual Report

2014 Annual Report

2013 Annual Report

2012 Annual Report

2011 Annual Report

2010 Annual Report

2009 Annual Report

 


More plans and budgets information

Action Plan 2015-2018 - In December 2014, City Council passed a budget that kept tax increases below the rate of inflation plus growth and found over $50 million in savings for 2015–2018.

Business plans and budgets accountability reports

Plans, budgets and financial reports