Each year, the City of Regina releases our Annual Report and consolidated financial statements, which supports the City’s commitment to financial transparency and accounting to taxpayers. The financial statements reflect the status of the City’s consolidated financial position as of December 31 of the previous fiscal year, which includes entities that are accountable to and controlled and/or owned by the City.
Summary
In 2020, the City had an operating surplus of $2.3 million and a consolidated annual surplus of $102 million, which includes all assets as well as some non-cash items. The general operating surplus is transferred to the General Fund Reserve, which is used mainly to fund planned capital projects and assist with emergency situations. The City’s reserves also ensure flexibility to address unexpected needs. For a one-page summary of the City’s financial position as of December 31, 2020, view the Annual Report Highlights.
Operational Highlights
The Annual Report also documents the City’s operational performance and highlights achievements that have been made over the past year to enhance City services and advance the goals of the Official Community Plan.
COVID-19 Pandemic Response
The City responded quickly to evolving public health measures in 2020, reallocating resources to areas of most need to maintain essential services and adapt other programs and services as needed. The City is positioned well for a strong recovery post-pandemic.
Financial Sustainability
In 2020, the City of Regina received a second AAA credit rating from Standard & Poor’s (S&P) Global. This highest possible rating acknowledges the City’s strong financial management practices, long-term financial planning capabilities and stewardship of public funds.
Investing in Infrastructure
Infrastructure renewal extends the lifespan of City assets, ensuring safety and improved quality of life for citizens. Since 2011, the City has more than tripled its General Operating Fund allocations to capital projects, reducing dependence on external or debt funding to complete current and future infrastructure projects.
2020 Capital Projects included:
- A combined 34 KM of roadway renewal and sidewalk construction, notably on Albert Street, Sunset Drive, and Park Street. Park Street accommodates cars, pedestrians, fully accessible transit service and “all ages, all abilities” cyclists on renewed infrastructure for a smooth ride for all modes of transportation.
- Completion of Victoria Avenue Beautification Project
- Work progressed on Maple Leaf and Wascana Pools
Environmental Sustainability
The City solidified its commitment to becoming a fully renewable City by 2050 and continuing initiatives that encouraged citizens to reduce, reuse and recycle, diverting waste from the Landfill.
- The Energy & Sustainability Framework will outline steps to become renewable, focusing on land use and transportation planning, development and building permit guidelines, energy-efficient building design, waste management, ;energy conservation, and regulatory and financial tools, among other actions.
- A 60% increase in waste diversion through the permanent leaf and yard waste depot. 4,250 tonnes of leaf and yard waste was refined into compost.
- Approximately 125 tonnes of hazardous waste recycled or safely disposed of through numerous Household Hazardous Waste Days.
Enhanced Services
The City continues to prioritize technology to provide more efficient and modern services to residents:
- Adopting e-signature technology has reduced costs and over 2200 hours of administration work.
- New digital maps introduced in Regina’s fire stations have reduced response times by an average of 15-20 seconds.
- Landfill space has been optimized by using less soil in the waste mixture, using GPS tools to measure waste storage and density, and separating construction and demolition waste, extending the lifespan of the Landfill by four years.
- Adjustments to winter road maintenance will reduce annual costs and provide enhanced services in school zones near transit stops and high-traffic residential roads.
Building Permits Process
Regina ranked #1 overall in a Canadian Home Builders’ Association benchmarking study comparing building permit processes,
timelines and customer experience among 23 Canadian cities.
Long-Term City Growth
As of 2020, the City has completed seven master plans - Cultural, Transportation, Recreation, Facilities, Waste, Water, and Wastewater - that advance the Official Community Plan and ensure long-term sustainability and delivery of services that meet the needs of Regina now and into the future. Fire Protection and Transit Master Plans are in development.
