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City improves financial position in 2014

April 15 2015

Vancouver City Hall

Our 2014 Annual Financial Report was submitted to Council today and reflects a strong financial position that has garnered positive credit rating outlooks in the past six months.

Strong operational results led to a growth in the consolidated surplus by $214 million. Net financial liabilities reduced by $135 million, reflecting a higher amount of cash and temporary investments offset by a reduction in long term debt due to the repayment of Olympic-related debt.

Financial position remains strong

Our 2014 financial position remains strong and is reflected in our credit agency ratings, which continue to be among the best municipal ratings in Canada. Recent upgrades to Aaa stable by Moody’s, and AA+ stable by Standard & Poor’s reflect the City’s exceptional liquidity, strong economy, low debt burden, and strong budgetary performance.

Learn more about our budget and finances