Financial Sustainability

It was a tough balancing act this past term as we faced financial challenges head on. Recovery from the pandemic is still being managed as we address the impacts from that time.

We tasked our Administration to find cost savings in operational efficiencies and reduce costs of non-core services. This has paid off as Standard & Poor's increased the City's credit rating to AA+ in July 2025. 

While funding had been allocated for a number of new and expanded projects like Terwillegar Drive and Yellowhead Trail, we learned that the city faces an infrastructure renewal gap of $1.5 billion. That means that as our facilities like bridges, roads and buildings age, the city has not kept up with their maintenance and now it's time to play catch-up.

Critical infrastructure is being prioritized and Council is establishing a dedicated renewal fund to care for these assets going forward.