The Finance Department is responsible for safeguarding the City’s financial assets and planning to ensure the financial stability and viability of the City. Those safeguards include monitoring, control and allocation of financial resources within the City, in order to meet the short and long term budgetary goals and objectives that Council has set out in the five-year Financial Plan. The Finance Department is also accountable for implementing and administrating the City IT systems. All financial transactions are completed in accordance with the Community Charter, the Local Government Act and Canadian Generally Accepted Accounting Principles as set out by the Public Sector Accounting Board.
The Finance Department has two distinct client groups; internal and external. Internal financial systems and reports are continually changing to meet the needs of the departments and of Council. External communication and reporting includes audited financial statements, annual reports and communication with media, stakeholder groups and individual taxpayers.