The City of Fort Saskatchewan got its finances in order, so to speak.
Council was presented with the 2017 audit report by Carlie Persson with Partner Assurance at the Tuesday (Apr.24) meeting. The audit is done annually.
“That just helps us ensure that we have the proper processes in place. We reviewed the audit report, nothing substantial came back and the city is in a great financial position and the residents should be very confident about the processes we have at City Hall,” said councillor Lisa Makin.
The report indicated an accumulated surplus for 2017 which can be seen below.
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“We had a slight operating surplus last year which was to be expected,” said Makin. “What happens with those funds is they go in the financial stabilization reserve to ensure that if something ever happens that we’re in a good position to deal with them as they come.”
She boasted confidence in their senior management having the proper processes in place.
“Nothing was found in any departments that should be causing concern, so I think that confidence in our city staff is something that is key to residents,” she added.
Council unanimously passed the motions to approve the 2017 audted consolidated financial statements and approved the 2017 annual report and allocation of the 2017 operationg budget surplus.