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.
In 2019, the City had an operating surplus of $7 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, 2019, view the Annual Report 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.
The City of Regina received the AAA credit rating (the City’s highest ever rating) S & P Global, acknowledging the City’s strong financial management practices, long-term financial planning capabilities and stewardship of public funds.
The City’s total debt is well below the allowable debt limit and policies are in place to ensure a minimum level of reserve funding is maintained, along with long-term financial modeling to anticipate future infrastructure investment needs.
Infrastructure renewal extends the life of the City’s assets and provides safety and improves 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 related to roads, facilities, and other major capital assets.
2019 Capital Projects included:
- A combined 76 kilometres of roadway renewal and sidewalk construction
- Relining 31 kilometres of water and wastewater pipe
- New infrastructure to prevent wastewater spills during major storms
- Advancement of two major swimming pool projects (Maple Leaf and Wascana) to better service current and future recreational needs
The City, through engagement with Indigenous and community organizations, continues to support the development of Reconciliation Regina and respond to the Truth and Reconciliation Commission of Canada’s ‘Calls to Action.’
- The Reconciliation Wall – a permanent legacy to the contribution of Indigenous Peoples in the development of our city – was established on the main floor of City Hall on October 30, 2019.
- Regina’s 7th celebration of National Indigenous Peoples Day was held on June 21, 2019.
The City continued its commitment to environmental sustainability through initiatives that encouraged citizens to reduce, reuse and recycle, diverting waste from the Landfill.
- A permanent leaf and yard waste depot location was opened at the landfill, receiving 2,660 tonnes of waste in its first season of operation.
- 12 City facilities piloted the employee-driven Green Routine project, increasing waste diversion by almost 40 per cent.
- Approximately 122 tonnes of hazardous waste was collected and recycled or safely disposed through numerous Household Hazardous Waste Days.
The City continues to prioritize providing more efficient and modern services to residents through use of new and improved technology.
- A new, mobile-friendly Regina.ca was launched in 2019 creating a better online experience for citizens looking for information about City programs and services. It also lays the foundation for future enhanced online services.
- The launch of the PaybyPhone app in Regina provides motorists a new online payment option when parking downtown.
- Provincial and City regulations are now in place to allow ridesharing companies to operate in Regina.
The development and implementation of master plans advances the City’s Official Community Plan and ensures long-term sustainability and delivery of services that meet the needs of Regina now and into the future.