The following decisions were made at today’s regular City Council Meeting.

•City Council accepts 2022 Annual Financial Statements

City Council accepted the 2022 Financial Statements and Annual Financial Report, as well as authorized the Mayor and the Chair of the Audit Committee to sign the 2022 financial statements on behalf of Council. The report will be available online and submitted to interested parties.

“Today’s presentation of the 2022 annual financial statements enables us to share information with City Council and taxpayers about The City’s 2022 financial performance. Through this report, we describe some of The City’s major financial challenges and paint an overall picture of The City’s general economic position. This year’s audit went well. We have a clean financial report and opinion from our financial auditors,” said Ray McIntosh, Chief Financial Officer.

•Unanimous support for housing and asset development

City Council unanimously supported ten recommendations with the goal to increase permanent supportive housing in Red Deer. The recommendations are related to actions municipal government can take; actionsthat respond directly to the Community Housing and Homelessness Integrated Plan (CHHIP). This work will include the exploration and identification of funding and strategies that increase permanent housing availability and/or development in Red Deer.

•River Bend Loan Bylaw repealed

The longstanding loan for capital improvements to a City-owned asset was repealed today, with City Council giving second and third reading to repeal the River Bend Loan Bylaw. City Council passed second and third reading to repeal the loan bylaw for River Bend

•Reserve Policy updated (severed from Consent Agenda)

City Council approved changes to the Reserve Policy today after administration and City Council determined reserve names were not consistent with The City’s financial reporting. The policy update addresses the use of names,and which reserve accounts aretracked and reported. Additionally, the policy change will see a minimum balance for the main contingency fund: Operating Reserve –Tax Supported (ORTS)

**with information provided by The City of Red Deer