TAMRMS#: B06
title
Audited Financial Statements & Annual Report - Time Specific 2:00 p.m.
Presented by: Brenda Barclay, Manager, Financial Operations and Reporting
label
RECOMMENDATION(S)
recommendation
That the City’s 2020 Annual Report, including the audited Consolidated Financial Statements for the fiscal year ended December 31, 2020, be approved.
body
PURPOSE OF REPORT
The Annual Report includes 2020 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 2020 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:
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 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 Corporation’s major accomplishments and is presented with the City’s audited consolidated financial statements, statistics and management commentary.
Highlights from the 2020 Annual Report across the six Council priority areas include:
Growth Policy Framework
The revision of F...
Click here for full text