Budget and Financial Statements

City Financial Statements

The Audited Financial Statements represent a financial snapshot of the City’s financial position on December 31 of each year and a financial summary of the operations of the municipality for the year, taking into consideration all City funds, associated City boards, and business enterprises. They are prepared in compliance with legislation and in accordance with generally accepted accounting principles established by the Public Sector Accounting Board of the Chartered Professional Accountants of Canada. They have been audited by Baker Tilly.

2020 Audited Financial Statements

2021 Audited Financial Statements

2022 Audited Financial Statements

2023 Audited Financial Statements

City Budget

The City prepares and adopts a budget annually that ensures the long-term financial stability of our community. This budget covers both Operating and Capital expenditures. Every year, draft budgets are prepared by staff with input from their supporting committees. This draft budget is presented to Council for deliberation during special budget meetings. After deliberations, the final budget is presented to Council for adoption, and the associated property tax, garbage/waste management, water, and sewer rates are set for the year. See below for a typical budget timeline and the approved annual budget information for the City.