2017 Budget and Annual Financial Report

Each year The City determines the funds it requires for its operating and capital budget. City Council approves these requirements at separate times.

Capital Budget: 
On November 22 and 23, Council deliberated the 2017 Capital Budget and 2018-2026 Capital Plan. A 2017 Capital Budget of $105 million was approved.

The capital budget indicates the funds needed for the first year of the 10-year capital forecast period. It is how we pay for major projects such as reconstructing streets; building and improving public facilities such as recreation facilities, community centres, parks and fire halls; dealing with growth pressures such as new streets; and new initiatives. These costs are similar to adding an addition to your home this year.

Operating Budget: 
Starting on January 10, 2017, Council will deliberate the 2017 Operating Budget. 

The operating budget shows the day-to-day costs of delivering programs and services for the next year. These costs are similar to your everyday household expenses such as mortgage payments, utilities or groceries.

Visit our Budget and Annual Financial Reports page for general information on the budget and processes.

2017 Annual Financial Report

The Annual Financial Report provides an overview of The City’s financial position and financial activities for a particular year. The report includes the consolidated financial statements for the City of Red Deer, prepared in accordance with the standards established by the Public Sector Accounting Board of the Canadian Institute of Chartered Accountants, and audited by independent external auditors. The financial statements and auditors’ report satisfy a legislative reporting requirement as set out in the Municipal Government Act of Alberta.

2017 Annual Financial Report (pdf)