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Financial Management

The Municipal Government Act (MGA) requires that each municipality:

  • adopts an operating budget for the year 
  • adopts a capital budget (to include an estimate amount needed to acquire, construct, remove or improve capital assets)
  • must have the operating and capital budget for the year passed by Council
  • must prepare financial statements in accordance with accepted Canadian accounting standards
  • must submit audited financial reports to the Minister (Alberta Government)
  • must ensure that the actual revenues and expenditures incurred by the Town are compared with the budgeted estimates and are reported to Council

The CFO is responsible for ensuring operation and timely completion of:

  • annual operating and capital budgets
  • year-end financial preparations
  • accounting & audit standards 
  • financial transactions & reconciliations
  • taxation & payroll 
  • procurement & cost controls
  • financial system upgrades
  • utility billing services