Looks like we still have some money
The City of Calgary’s annual report for 2012 shows that we spent a lot of money last year but the city is still in the black.
The report states “budgets were exceeded for both revenues and expenses once again contributed to by greater than anticipated growth and demand for municipal services.” A net migration to the city of 20000 in 2012 is in line with municipal growth projections but unexpected amortization charges and demand for transit and services put Calgary over budget. Higher returns from Enmax contributed to Calgary’s improved financial position over 2011 as did revenue from developers paying higher city assessment rates — an increase of 75 per cent over 2011. Municipal taxes also netted $73 million more than the $1.52 billion calculated by the city putting Calgary’s finances over the top.
The three greatest expenses in the city budget are the Calgary Police Service accounting for nearly $400 million public transit at $358 million and the Calgary Fire Department which cost about $232 million.
Calgary’s operating budget is roughly $2.5 billion per year.