2020 Audited Financial Statements and Annual Report

Posted On Monday May 03, 2021

Now available online

Council approved the 2020 Annual Report on April 27 and the report has been posted on the City’s website.

In 2020, the City’s operations were significantly impacted by the COVID-19 pandemic and resulting public health orders and safety measures required to mitigate the impacts to the public. Some of the more significant impacts that impacted the City’s financial position included facility closures, changes to programming, deferral of projects, and staffing reductions and redeployments.

“In 2020, the City had an $875,000 surplus variance compared to its operating budget, excluding the receipt of $2,804,000 through the Municipal Operating Support Transfer (“MOST”) program from the Government of Alberta and the Government of Canada.

Pandemic related revenue shortfalls in user fees and charges, court fine revenue, and investment income were largely offset by the MOST grant. The City acted early in the pandemic to reduce operational expenditures by reducing staffing hours, deferring operating projects and discretionary maintenance, and reducing spending on training, advertising, materials, and supplies,” stated Jeremy Emann, CFO City of Fort Saskatchewan.

The City responded to the pandemic by providing financial relief to residents and businesses through a reduction to taxes, deferrals of tax and utility penalties, and providing new or expanded supports to businesses.

During the pandemic, the City also had a number of accomplishments in 2020, including:

  •  Completion of the annexation and the on-boarding of new residents to City programs;

  •  Further work on updating the Land Use Bylaw and Municipal Development Plan;

  •  Adoption of the Heartland Tax Incentives Bylaw, which is expected to drive new industrial investment in the City; and

  •  Expansion of outdoor recreation opportunities such as the skating oval at the West Rivers’ Edge Pavilion.

View the 2020 Annual Report

The City of Fort Saskatchewan annual financial statements are prepared in accordance with Canadian public sector accounting standards. Council appoints external auditors to audit and report on the financial statements.

The consolidated financial statements reflect the assets, liabilities, revenues, expenses, and change in net financial assets (net debt) of the City and the Fort Saskatchewan Public Library.

View the 2020 Audited Consolidated Financial Statements