Calgary remains a leader in Canada thanks to its red-hot economy, but a policy think tank says the city still needs to improve on how it accounts for funding crumbling infrastructure.
The Frontier Centre for Public Policy released data from a review of 30 of Canada’s largest cities yesterday, finding that while Calgary’s financial situation eclipses most other municipalities, it still lags behind financial reporting on the international stage.
Larry Mitchell, an analyst for the Winnipeg-based firm, said while Calgary is among the nation’s leaders in how it deals with its finances, it still has some hurdles to clear to become world-class.
“In the disclosure areas, they are good but not as good as best practices internationally,” he said, noting cities on the world stage incorporate infrastructure and tax planning over 10- and 15-year time frames to ensure no costly surprises arise.
