Annual reports

The Annual Financial Report reflects The City of Calgary’s commitment to strong governance, accountability and transparency. It provides a comprehensive view of the consolidated financial statements in accordance with Canadian generally accepted accounting principles, established by the Public Sector Accounting Board and published by the Chartered Professional Accountants Canada.

2024 Annual Financial Report

In 2024, The City remained focused on enhancing financial sustainability, driving innovation and modernizing service delivery. With continued population growth, demand for City services remained high, while inflation remains a concern for households and businesses alike. The City continues to manage these factors while working hard to support Calgarians and businesses in a fiscally sustainable manner.

The 2024 year was the second year of the 2023-2026 Service Plans and Budgets. The budget reflects and addresses the ongoing economic challenges The City is facing while continuing to advance the Council priorities laid out in the roadmap for advancing Resilient Calgary: Council’s Strategic Direction 2023-2026, keeping the ongoing expenses in line with inflation and population growth.

We continue to have one of the best municipal credit ratings in Canada. Our strong fiscal management is confirmed by  AA+, Aa1 stable and AA (high) credit ratings  by S&P Global Ratings, Moody’s and DBRS Morningstar, respectively. Calgarians’ quality of life is reflected in The City being recognized as one of the world’s most livable cities—ranked 7th in 2023 and rising to 5th place in 2024 in the Economist Intelligence Unit’s (EIU) annual list of the most livable cities in 2024.

Previous Annual Financial reports

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

View the 2024 annual report
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