TAMRMS#: B06
8.2
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Audited Financial Statements & Annual Report
Presented by: Kerry Hilts, Chief Administrative Officer (Interim)
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RECOMMENDATION(S)
recommendation
That the City’s 2021 Annual Report, including the audited Consolidated Financial Statements for the fiscal year ended December 31, 2021, be approved.
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PURPOSE OF REPORT
The Annual Report includes 2021 operational highlights, progress achieved towards implementing the City of St. Albert Strategic Plan, statistical information and discussion of the financial statements, as well as the 2021 audited consolidated financial statements.
ALIGNMENT TO PRIORITIES IN COUNCIL’S STRATEGIC PLAN
N/A
ALIGNMENT TO LEVELS OF SERVICE DELIVERY
Public Communication and Corporate Reporting to Community:
The annual report provides progress updates on Council’s Strategic Plan, financials and key performance indicators to support transparency to the community through regular reporting of the City's achievements. The report is prepared annually to provide update on progress toward achieving established goals and to report on City’s financial position, in accordance with the below service level:
Community, Business, and Financial Reporting
H.1.2a City's Annual Report: Audited Financial Statements are provided annual by an external auditor. The City's Annual Report is published in June each year.
ALIGNMENT TO COUNCIL DIRECTION OR MANDATORY STATUTORY PROVISION
As per section 276 of the MGA, a municipality must prepare annual financial statements for the immediately preceding year. Once approved the municipality must make its financial statements and the auditors report available to the public by May 1 of the current year.
BACKGROUND AND DISCUSSION
The Annual Report is an important element of the City’s transparency and communication efforts, providing residents and stakeholders with quality information on the City’s performance. The report highlights the City’s major accomplishments and it presents the...
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