Calgary’s 2017 Corporate Annual Report and Its Economy

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Ward

The City of Calgary has been working hard to deliver value for citizens. Although the current economic downturn has been difficult, the City continues to be financially stable and fiscally responsible. City Manager Jeff Fielding has led the way by reducing the operating budget by over $409 M, a decrease of 20%.

I think it’s a great disservice when individuals within Council and some media sources report that the City continually spends and doesn’t react to the economic downtown. This is a myth. I find it disappointing when accurate information is not presented to Calgarians.

The 2017 Corporate Annual Report 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, by:

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

Despite the changing economic environment, the City’s 2017 consolidated financial statements continued 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.

I strongly encourage you to read the Annual Report, which can be found at www.Calgary.ca/ward1. The 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.