Financial Services

Mission Statement

With a focus on outstanding performance in areas of financial planning, management, and reporting, accountability, and customer service, the Finance Department supports Council, individual departments, and residents of the City. We provide sound, strategic financial planning, accurate and timely financial information, and continually search for ways to improve customer service.

2023 Work Plan FINANCE

• Migrate to new payroll system

• Prepare for implementation of PS 3280, Asset Retirement Obligation, effective for year ending December 31, 2023

• Amend Procurement Policy (in draft)

• Investment Policy (in draft)

• Debt Policy

• Grants to Non-Profit Organizations

• Front end work area study

Financials 2023 BUDGET

The Finance Department is responsible for the financial administration of the City.

This involves general accounting, payroll, accounts receivable and payable processing, as well as the collection of property taxes and other fees and charges.

We oversee the annual budget process, corporate borrowing and investing, purchasing, insurance coverage and claims, and manage reserve and surplus balances. We produce the City’s annual financial statements as well as other legislated financial reports.

Our staff support other City Departments by preparing historical financial data analysis, developing projections and forecasts, and assisting with grant applications and reporting.

Finance staff support the 311-call system as well as manage a large volume of in-person inquiries at City Hall.

Financial Services

Solid Waste

CORPORATION OF THE CITY OF CRANBROOK 2022 – 2026 FIVE YEAR FINANCIAL PLAN FIVE YEAR FINANCIAL PLAN BYLAW NO. 4073, 2022 SCHEDULE B

In accordance with Section 165(3.1) of the Community Charter, the City is required Year Financial Plan, objectives and policies regarding each of the following:

1. The proportion of total revenue that comes from each of the funding sources 165(7) of the Community Charter ;

2. The distribution of property taxes among the property classes; and

3. The use of permissive tax exemptions.

Total Revenues

During its preparation of the Five Year Financial Plan, the City of Cranbrook maintains objectives:

1. To keep property taxes and user fees affordable for the City’s residents;

2. To provide sustainable levels of service;

3. To maintain City owned assets and infrastructure in a good state of repair;

4. To lessen the tax burden on property owners by pursuing other revenue

The proposed 2022 total revenues by funding sources are: