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Annual reports

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Annual reports

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City of Calgary annual reports and financial statements

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Annual Reports

City of Calgary annual reports and financial statements

 

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

2017 Annual Report


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City of Calgary 2017 Annual Report
 

The City of Calgary’s 2017 Annual Report provides consolidated financial statements prepared in accordance with Canadian Public Sector Accounting Standards.

The report’s theme – Delivering value for citizens – underscores our common purpose for more than 1.2 million Calgarians we take pride in serving. The report shows that although this downturn has been difficult, The City continues to be financially stable and fiscally responsible.

The 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 2017 consolidated financial statements consistent with Canadian best practices applicable to municipalities.

The Canadian Public Sector Accounting Standards reporting model prescribes four objectives for government financial statements. Together, these objectives 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.

Highlights

The report acknowledges that although 2017 was a year of recovery, Calgary’s most recent economic downturn has had a significant impact on the community. It also shows how The City delivered value for citizens by quickly switching its focus from accommodating rapid growth to supporting the economy, keeping Calgarians working, and reducing the cost of local government:

  • managing our costs and making our organization as efficient as possible,
  • strategically managing our infrastructure projects and investments, and
  • ensuring we provide services that are of value to citizens and collectively strive to
    make life better every day for Calgarians.

Financial statements

Despite the changing economic environment, The City’s 2017 consolidated financial statements continue to reflect a strong financial picture of a municipality investing in infrastructure to facilitate economic growth, stimulate job creation, prepare for growth and build a more resilient city.

Strong fiscal management is 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 2017, The City was able to implement its business plans and budgets essentially as expected. The City is entering 2018 as the fourth and final year of a four-year plan and budget cycle that reflects its long-term goals, and continues to monitor its financial performance so that it can address local effects resulting from the recent economic downturn.

Previous annual reports


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

2016 Annual Report

2015 Annual Report

2014 Annual Report

2013 Annual Report

2012 Annual Report

2011 Annual Report

2010 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