2019 Annual Report

Shaping Our Financial Future 2019 ANNUAL REPORT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2019 SASKATCHEWAN, CANADA Shaping Our Financial Future We are committed to building a better city 2019 Budget at a Glance and ensuring a great quality of life for all citizens of Saskatoon. • A combined Operating and Capital Investment of over $1.1 billion The economic future of our city is bright. We continue our dedicated work on improving • Total Civic Operating Expenditures of our service delivery, building amenities, $510.4 million wisely managing expenditures and growing • Land Development Operating Expenditures our revenues. of $6.1 million The 2019 Annual Report details our • Total Utility Operating Expenditures of investments, major projects and initiatives, $359.4 million and gives an overview of what we accomplished in 2019 based on the priorities • Capital Budget Investment of $260.4 million of citizens and the goals set forth in our Strategic Plan. Snapshot of Saskatoon in 2019 Population of Saskatoon Unemployment Rate Single Family 275,242 5.85% Housing Starts 654 Median Age City Area 35.8 236.34 km2 Total Building Permits Issued Population Growth 3,369 5,931 2019 ANNUAL REPORT GUIDING DOCUMENTS 2018 - 2021 Strategic Plan In 2012, City Council adopted a ten-year Strategic Plan that reflected the visionary ambitions of the people of Saskatoon. Over the last half decade, we have worked to bring the Plan to life. The city has evolved, and with it, the Strategic Plan has evolved. We have gained a better understanding of what our seven Strategic Goals mean to the city and the role they play in achieving our collective vision. In 2019, our teams refreshed the Strategic Plan to guide us as we work together to realize our vision for the future and shift our resources to Council’s ten priority areas. The updated Plan refocuses our resource requirements and identifies business planning and budgeting based on the priorities and initiatives therein. The 2018–2021 Plan reflects the insights of the current City Council — elected in late 2016 — and, of course, those of their constituents. Our Strategic Goals ASSET & FINANCIAL ENVIRONMENTAL SUSTAINABLE SUSTAINABILITY LEADERSHIP GROWTH Investing in Growing in harmony Ensuring smart & what matters with nature sustainable growth CULTURE OF CONTINUOUS MOVING IMPROVEMENT AROUND The best-managed A city on Our Strategic Goals are city in Canada the move based on areas that the community and City ECONOMIC Council identified in order DIVERSITY & QUALITY to realize our vision and PROSPERITY OF LIFE accomplish our mission. A thriving, diverse A warm, local economy welcoming place Our Values Strategic Plan Workplace How We Will Our values are part & Goals Transformation Achieve Our of who we are, what Our Community Our Corporate Vision we stand for and Strategy Strategy how we behave Saskatoon is a great towards each other. place to live, work, learn and play. People Matter Our Culture Respect One Another Alignment of Purpose Act & Communicate Governance and with Integrity Decision-making Safety in All We Do Our People Trust Makes Us Stronger Our Tools Courage to Move Forward View details at saskatoon.ca/strategicplan 2019 ANNUAL REPORT Table of Contents Introduction Letter of Transmittal 4 City of Saskatoon Organizational Chart 2019 5 Message from the Mayor 6 City Council 2019 7 Message from the City Manager 8 How Do Others See the City? 10 Public Engagement Highlights 2019 12 Our Workplace Transformation Journey 13 Our Performance Measures 17 Business Lines Introduction to Business Line Reporting 19 Arts, Culture and Events Venues 21 Community Support 23 Corporate Asset Management 26 Corporate Governance and Finance 29 Environmental Health 34 Fire Services 37 Land Development 40 Policing 43 Recreation and Culture 46 Taxation and General Revenues 49 Transportation 51 Urban Planning and Development 54 Utilities 58 Services Provided Services Provided by the City of Saskatoon 64 Financial Section Financial Management and Control 73 Financial Discussion and Analysis Financial Discussion and Analysis 74 Canadian Award for Financial Reporting 84 Consolidated Financial Statements Management’s Report 86 Independent Auditor’s Report 87 Consolidated Statement of Financial Position 89 Consolidated Statement of Operations 90 Consolidated Statement of Cash Flows 91 Consolidated Statement of Changes in Net Financial Assets (Debt) 92 2019 ANNUAL REPORT Notes Notes to the Consolidated Financial Statements 93 Schedules (Unaudited) Schedule 1 – Schedule of Funds to Offset Taxation or User Charges in Future Years 121 Schedule 2 – Schedule of Capital Operations 122 Schedule 3 – Schedule of Reserves 123 Schedule 4 – Schedule of Revenues and Expenditures 127 Appendices (Unaudited) Appendix 1 – Schedule of Revenues 128 Appendix 2 – Schedule of Expenses 130 Appendix 3 – Water Utility Statement of Revenues and Expenses 134 Appendix 4 – Wastewater Utility Statement of Revenues and Expenses 135 Appendix 5 – Storm Water Management Utility Statement of Revenues and Expenses 136 Appendix 6 – Saskatoon Light & Power Utility Statement of Revenues and Expenses 137 Appendix 7 – Waste Services Utility Statement of Revenues and Expenses 138 Appendix 8 – Land Operations Statement of Revenues and Expenses 139 Statistical (Unaudited) Consolidated Revenues and Expenses 140 Summary of Operating Revenues 141 Summary of Operating Expenses 142 Summary of Capital Operations 143 Summary of Public Utilities Operating Results 144 Summary of Reserves and Surplus 144 Summary of Term Debt and Required Sinking Fund Consolidation of All Obligations 145 Summary of Term Debt and Required Sinking Fund by Responsibility Centre 146 Term Debt Maturing with Percentages 147 Summary of Property Assessment and Tax Levy 148 Saskatoon Economic Statistics 149 Major Taxpayers 150 Summary of Expenses by Object 151 Summary of Accumulated Surplus and Net Financial Assets (Debt) 151 City of Saskatoon 2019 Ward Map 152 Our Guiding Values 153 City of Saskatoon 2019 Annual Report Year ended December 31, 2019 Saskatoon, Saskatchewan, Canada Prepared and produced by the Corporate Financial Services, and Strategy and Transformation Departments. Financial Statements presented to City Council on June 29, 2020 2019 ANNUAL REPORT | INTRODUCTION Letter of Transmittal June 30, 2020 City Council appointed the accounting firm of Deloitte LLP to perform an independent audit of His Worship the Mayor and Members of City Council, the City’s 2019 financial statements, and its report is included herein. The accuracy and reliability of the I am pleased to submit the City of Saskatoon’s Annual financial information is ensured by the City’s system Financial Report for the year ended December 31, 2019. of internal controls. The Standing Policy Committee The Annual Financial Report is submitted pursuant on Finance reviews the external auditor’s plan and to Section 155 of The Cities Act. The financial report ensures corrective action is taken for weaknesses includes Consolidated Financial Statements for the City identified in the City’s internal control system. An of Saskatoon (City) reporting entity as required by the internal audit function through the services of Public Sector Accounting Standards Board (PSAB). PricewaterhouseCoopers also reports to the Standing The purpose of this report is to provide financial, Policy Committee on Finance, ensuring internal statistical, and other information about the City controls and procedures are in place and adhered to and related entities to allow readers to gain an through a series of internal audits and reviews, with a understanding of the City and the resources available focus on the City’s Risk Management program. to the City. As noted, the Consolidated Financial Statements The Annual Report consists of the following sections: include information on the City’s financial position and operating results, along with those of several related • The introduction familiarizes readers with the entities. The City’s operations are typically segmented political and organizational structure of the City, (General Operating, General Capital, Utility Operating, reviews the City’s accomplishments over the past and Capital) for budgeting and reporting purposes. For year, and describes the nature and scope of the the purpose of the Consolidated Financial Statements, services provided by the City. the financial position and results of all the segments are brought together. • A Financial Discussion and Analysis section and the Consolidated Financial Statements. The financial statements included herein reveal that the City ended the year with an operational surplus of • The Financial Statement Discussion and the $0.518 million (see Schedule 4 within the Consolidated Statistical Section provide additional explanation Financial Statements on page 127). and trend analysis to support a broader understanding of the financial statements. The City’s 2019 capital program included planned expenditures of $260.4 million. These expenditures The preparation and presentation of the financial were financed from reserves, development levies, statements and related information contained in this contributions from developers, federal and provincial report is the responsibility of the City of Saskatoon’s grants, gas tax revenues from the federal government, management. The statements have been prepared on and borrowing. a basis consistent with the reporting requirements of PSAB. Included in the consolidated financial statements The City continues to receive positive reviews from are

Load more