The Way We Finance: Edmonton's Financial Sustainability Plan
The Way We Finance is one of six strategic plans setting the course for the City to achieve its 10-year goals and the long-range City Vision. The Vision and goals provide a clear focus for ongoing City activities and are set out in The Way Ahead, Edmonton's Strategic Plan.
The Way We Finance cross-departmental steering committee, led by Lorna Rosen, Chief Financial Officer and Treasurer, guides development of the strategic plan, which will outline guiding principles to ensure continued sound fiscal management and long-term financial sustainability.
This is a significant undertaking given the magnitude and complexity of the City’s financial framework. The City’s tax-supported operations, investment portfolio and infrastructure assets are multi-billion-dollar undertakings. View a comparison of what services are provided by the City of Edmonton and other orders of government.
The Way We Finance will provide a policy and strategy framework for City Council and Administration, addressing Edmonton’s financial sustainability and development of a long-range financial plan.
Development of The Way We Finance involves an assessment of policy options and strategies to optimize the City’s sources of revenue and financial stewardship.
The plan will be key to sustaining Edmonton’s high quality of life through affordable and responsible financial strategies for generations to come.
- Working Groups guided by a Steering Committee have organized workshops for internal knowledge leaders. Each workshop will inform development of a draft discussion paper.
- The Steering Committee will develop a draft plan taking into account the information provided by the discussion papers.
- The draft plan will be presented to City Council for approval.
The discussion papers address the following topics:
- Franchise Fees
- User Fees and Permits
- Subsidiaries and Corporatization
- City Utilities
- Enterprise and Cost Recovery Operations
- City Building Through a Fiscal Lens
- Infrastructure Asset Management and Development
- Property Assessment and Taxation
May-June - White Paper Workshops (internal)
July-January/February - Discussion papers drafted
First Quarter 2013 - Consultations and feedback on draft plan
Second Quarter 2013 - Presentation of The Way We Finance to City Council
For more information:
5th Floor, Chancery Hall
3 Sir Winston Churchill Square