TAMRMS#: B06
title
2018 Audited Consolidated Financial Statements
Presented by: Stella Tam, Senior Financial Analyst
label
RECOMMENDATION(S)
recommendation
1. That the “City of St. Albert Consolidated Financial Statements December 31, 2018 and the 2018 Financial Statement, Discussion and Analysis (FSD&A)”, provided as an attachment to the April 23, 2019 agenda report titled “2018 Audited Consolidated Financial Statements” be approved.
2. That Administration bring to Council by June 17, 2019, the 2018 Annual Report that includes the City of St. Albert Consolidated Financial Statements December 31, 2018 and 2018 FSD&A.
body
PURPOSE OF REPORT
The Audited Consolidated Financial Statements are produced yearly as required by the Municipal Government Act (MGA). This report documents the City’s 2018 financial position and is an important element of the City’s commitment to transparency and communication.
ALIGNMENT TO PRIORITIES IN COUNCIL’S STRATEGIC PLAN
N/A
ALIGNMENT TO LEVELS OF SERVICE DELIVERY
Public Communication and Corporate Reporting to Community:
Provision of progress update on Council’s Strategic Plan, financials and key performance indicators to support transparency to the community through regular reporting of the City's achievements.
Report is prepared annually to provide update on progress toward achieving established goals and to report on City’s financial position.
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 City’s appointed auditors, KPMG, are responsible to express an opinion on the City’s consolidated financial statements, in accordance with Canadian Generally Accepted Auditing Standards (Canadian GAAS) and Ca...
Click here for full text