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 consolidated financial statements in accordance with Canadian generally accepted accounting principles for local governments.
2020 annual report
The City of Calgary’s 2020 Annual Report provides consolidated financial statements prepared in accordance with Canadian Public Sector Accounting Standards.
Despite the changing economic environment, The City’s 2020 consolidated financial statements continued to reflect a strong financial picture of a municipality investing in infrastructure to facilitate economic growth, stimulate job creation, and build a more resilient city. This was achieved through:
- $26 million in net 2021 base budget savings as part of the SAVE program.
- Over $90 million in reductions from the previously approved budget for 2021, including SAVE program savings, found to contribute to a decrease in municipal tax rate.
- Continued investment in the #BuyLocalYYC campaign.
Strong fiscal management is confirmed by The City’s maintaining of its Double A+ and Double A high credit ratings - identified among the best for Canadian Municipalities by Standard & Poor’s and the Dominion Bond Rating Service respectively. Calgarians’ overall satisfaction with the level and quality of City services and programs also continues to remain strong. And our 2020 Citizen Satisfaction Survey indicates that 79 per cent of Calgarians rate their quality of life as good.