TAMRMS#: B06
11.1
REQUEST FOR DECISION
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Audited Financial Statements and Year-End Annual Report **TIME SPECIFIC 9:30 AM
Presented by: Bill Fletcher, Chief Administrative Officer
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RECOMMENDED MOTION(S)
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That the City's 2025 Annual Report, including the audited Consolidated Financial Statements for the fiscal year ended December 31, 2025, be approved.
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SUMMARY
The purpose of this report is to bring forward the City's 2025 Annual report including the Consolidated Financial Statements for approval.
ALIGNMENT TO COUNCIL DIRECTION OR MANDATORY STATUTORY PROVISION
Section 276 of the MGA provides as follows:
Annual financial statements
276(1) Each municipality must prepare annual financial statements of the municipality for the immediately preceding year in accordance with
(a) Canadian generally accepted accounting principles for municipal governments, which are the standards approved by the Public Sector Accounting Board included in the CPA Canada Public Sector Accounting Handbook, and
(b) any modification of the principles or any supplementary accounting standards or principles established by the Minister by regulation.
(2) The municipality's financial statements must include
(a) the municipality's debt limit, and
(b) the amount of the municipality's debt as defined in the regulations under section 271.
(3) Each municipality must make its financial statements, or a summary of them, and the auditor's report of the financial statements available to the public in the manner the council considers appropriate by May 1 of the year following the year for which the financial statements have been prepared.
BACKGROUND AND DISCUSSION
The Annual Report is an important element of the City's communication efforts, providing residents and stakeholders with transparent and quality information on the City...
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