Financial Support plan and budget
This service provides sound leadership in financial planning & budgeting, reporting, cash-flow forecasting, measuring services' financial performance and monitoring adherence to financial plans.
This service also provides investment management, non-tax revenue billing and collection, and payments for goods and services provided to The City.
Our customers
- Members of the public
- Council
- Service Owners
- City employees
- Various levels of government
- Vendors
- Banking and investment partners
- External parties that hold financial information
Our partners
- Service Owners
- Executive Leadership Team
- Infrastructure Calgary
- Audit Committee
- Investment Advisory Committee
- Pension Governance Committee
- Information Technology
- Communications
- Law and Internal
- External Reporting agencies
Value to Calgarians
- stewards The City's financial position
- safeguards economic assets for long-term sunstainability
- monitors and mitigates financial risks
- ensures finance-related Municipal Government Act and legislative requirements are met
- provides guidance, advice, systems, tools and standards to ensure a disciplined and responsible fiscal framework and healthy organization
What we deliver
- A financially well managed City as demonstrated by the preparation of comprehensive annual Financial and Investment reports.
- Evidence of transparency and full disclosure for Calgarians.
- Financial expertise and analysis to inform decision support, budget recommendations and strategic planning.
Budget breakdown
Operating and capital budgets explained
The budgets you see here are expenditures net of recoveries.
The City develops two budgets to create impact aligned with Council’s Strategic Direction:
- The four-year (2023-2026) operating plans and budgets
- The five-year (2023-2027+) capital plans and budgets
The operating budget includes revenues, recoveries and spending related to ongoing operations. These include:
- Salaries, wages and benefits.
- Day to day programs, maintenance and services.
- Administration costs (e.g., insurance).
- Fuel
- Utilities
- Capital financing costs.
The City's total net operating budget is zero. This means we budget to collect the revenue needed to deliver services to Calgarians — no more, no less. We collect this revenue through property taxes and other sources.
The capital budget pays for long-lived assets. These provide the foundation for the services Calgarians rely on. They include:
- Maintenance of current infrastructure (e.g., bridges, buildings and playgrounds).
- Upgrades to existing community infrastructure.
- New infrastructure to provide services in areas that are underserved (e.g., Green Line).
- New infrastructure for growing areas of the city.
Learn more about our 2023-2026 Service Plans and Budgets.
See how the budget has been adjusted since November 2022
Measuring performance
We are measuring our performance in five areas. Each value is the goal we expect to reach by 2026.
What we've heard
Through ongoing interaction with our customers and collaborators, Finance understands there are ever-increasing expectations for timely and meaningful information to support analytics, drive performance and inform decision-making.
This has been especially prevalent as we worked to support our customers through the Corporate Realignment. This process has highlighted a growing need for financial and related information that will support the organization's successful transition from the previous state to the recently realigned state. Service and deptid owners have identified partnering with Finance will be critical to enable them to fulfill the expectations and accountabilities that accompany those roles.
Finance will continue to evolve its service provision to ensure expectations of timely and meaningful information are delivered.
What we're watching
- The economic environment impacting The City 's finances, and long range financial planning and resilience, including operating and capital budgets.
- Future provincial capital funding and its implications to The City's debt financing and ability to maintain infrastructure.
- New funding agreements with the Provincial Government (City Charter).
- Council decisions and service level changes that impact operating and capital budgets; Changes in legislative requirements (Municipal Government Act, Public Sector Accounting Standards) impacting City compliance, processes and systems.
- Increasing demand for financial leadership and information to minimize risks to financial sustainability and resilience.
- Evolving customer expectations of the services offered by Finance and the way in which they are delivered.
- Attraction, retention, and succession management of key talent as a major contributor to service success.
Our initiatives
What we plan to do
Continue to provide financial expertise and analysis to inform decisions, budget recommendations and strategic planning. We will focus on the timely delivery of financial information through the development of a comprehensive suite of financial reports and implementation of process efficiencies.
How we're going to get there
- Implementation of prudent investment strategies and preventative internal controls to mitigate risk to ensure The City's economic assets are safeguarded for long-term sustainability.
- Support The City's financial sustainability by monitoring and responding to the changing economic and political environment.
- Ensure Finance support can be efficient and effective now and in the future by prioritizing process and system improvements.
- Minimize The City's financial risk by providing analysis, preparing reports, and make recommendations to operations that support decision-making.
- Support and inform the Executive Leadership Team and Council decision-making by preparing a comprehensive suite of financial reports.