Friday, October 22, 2021
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2020 financials unanimously received by Lethbridge City Council

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LETHBRIDGE, AB – Lethbridge Mayor Chris Spearman says the City’s 2020 year-end financial report “shows excellent transparency and financial stewardship”and goes above and beyond the requirements.

City Council received a report from the Audit Committee last week outlining the highlights of the 2020 General, Utility and Reserve Funds.

Among those highlights is a $14 million line of credit from the Municipal Revenue Stabilization Reserve to fund the Sherring Industrial Park expansion and airport development.

The City notes those funds will be repaid from future industrial lot sales and revenues.

The audited financial statements are scheduled to be brought to the Apr. 20th council meeting and they will then be made available to the public by May 1 on the City of Lethbridge website.

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Sam Borsato

I started my radio career in 2015, shortly after graduating from Lethbridge College. I have a very strong passion for local news.

Proudly born in 1994, I grew up most of my life in Sylvan Lake, AB and I’ve lived in the Lethbridge since 2012. I’m a below average golfer on a good day, I take as many hiking trips to Waterton as possible in the summer and I love my two cats, Outlaw and Jynx, and my dog, Maverick, more than most people I know.

I look forward to providing accurate, timely news coverage in southern Alberta for plenty of years to come!

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