At the Council meeting on April 16, City Council reviewed and accepted the City’s 2018 audited financial statements.
“We are committed to open and transparent government and were pleased to see new additions to the financial presentation,” says Mayor Marshall Chalmers. “While we can always improve, Council is pleased with our overall financial situation and confident that we are in a stable position as a municipality.”
The City included new components in the presentation to provide a more robust view on the City’s finances, including off-site levy accounting and departmental breakdowns.
“As a municipality, we are in a strong financial position when you look at the low amount of debt we carry compared against the significant number of assets we own,” says Brenda Hewko, the City’s Chief Financial Officer. “As we continue to work towards finding more efficiencies and accounting for our levels of service, we believe our financial position will continue to be strong in the years to come.”
The City’s auditors, KPMG, confirmed that the financial statements accurately reflect the City’s current position. In an effort to provide increased service to residents, the auditors also stayed for Question Period to address any concerns from community members.
To read the 2018 Financial Statements and view the presentation, visit www.chestermere.ca/financials.