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The Way We Finance: Edmonton’s Financial Sustainability Plan

The Way We Finance is one of six corporate directional plans that set the course for the City to achieve its 10-year goals and ultimately the City Vision. The Vision and goals provide a clear focus for the future and are set out in The Way Ahead, Edmonton’s Strategic Plan.

Strategically, the Finance and Treasury Department is taking a lead role in developing The Way We Finance, focused on the City’s goal of ensuring Edmonton’s financial sustainability. This is a significant undertaking given the magnitude and complexity of the City’s financial framework. In  2010 the City had a combined operating and capital budget over $3 billion with a $2.4 billion investment portfolio.

The Way We Finance will provide a framework for decision-making around the City’s finances, including:

  • An integrated long-range financial planning and analytical model.
  • Financial policies that facilitate resource planning and decision-making across the City.
  • A 10-year long-range financial plan that provides guidance for operating and capital budgets.

The City goal for financial sustainability

Ensure Edmonton’s Financial Sustainability is one of the six 10-year goals:

Edmonton is financially sustainable, with the revenue resources required to support its plans and provide the infrastructure performance and services citizens need.

In ensuring Edmonton’s financial sustainability, the City recognizes the tie between demands on the City and the limited means to address these demands. The City will work to diversify revenue sources while maintaining the obligations the City has to its citizens. This goal relies on the revenue benefits that could be realized from the other goals, such as Economic Diversity and Urban Form transformation. 

http://www.edmonton.ca/city_government/city_vision_and_strategic_plan/the-way-we-finance.aspx

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