Title
PRESENTATION CONCERNING THE 2022 AUDITED CONSOLIDATED FINANCIAL STATEMENTS
Melissa Mifsud, Manager of Accounting and Financial Reporting provided a presentation regarding the 2022 Audited Consolidated Financial Statements.
Ms. Mifsud discussed slides concerning the following topics:
• An overview of the Canada Public Sector Accounting Board (PSAB);
• The impact of Reserve and Reserve Funds on the Financial Statements;
• Operating and Capital Fund revenue and expenses under PSAB standards;
• The Statement of Operations and Accumulated Surplus;
• The calculation of the Annual Surplus;
• A summary of Significant Adjustments to the Budget Surplus;
• An overview of the Statement of Change in Net Debt;
• The Statement of Financial Position outlining the City’s financial resources, including assets and liabilities;
• The calculation of the Accumulated Surplus; and
• An overview of the Statement of Cash Flows.
Members of the Committee asked questions of Ms. Mifsud and received responses.