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 consistent with Canadian best practices applicable to municipalities.
2019 annual report
The City of Calgary’s 2019 Annual Report provides consolidated financial statements prepared in accordance with Canadian Public Sector Accounting Standards.
Despite the changing economic environment, The City’s 2019 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:
- Investing in the #BuyLocalYYC campaign
- Investing $100 million to support organizations through the Opportunity Calgary Investment Fund Creating the Major Capital Projects reserve, setting aside $424 million for projects, such as the Event Centre.
- Provided $130 million one-time tax mitigation through the 2019 Phased Tax Program
- Set up a Financial Task Force to find innovative solutions to improve the City’s financial strength.
Strong fiscal management is confirmed by The City’s maintaining 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.In 2019, the Economist Intelligence Unit ranked Calgary as the most livable city in North America. Calgarians’ overall satisfaction with the level and quality of City services and programs also continue to remain strong. And our 2019 Citizen Satisfaction Survey indicates that 83 percent of Calgarians rate their quality of life as good.
"At The City of Calgary we are working hard to build a great city. With our purpose, drive and passion we strive to provide Calgarians with access to great opportunities, prosperity and an unbeatable quality of life. Moving forward, adapting to change and seizing every opportunity to improve is what we do. We remain committed to economic recovery. We are here to make life better every day for citizens, communities and businesses. We are taking actions to support economic recovery that will move us forward and help maintain our status as a great place to live and work."
- David Duckworth, City Manager