City maintains AA (Stable) credit rating


City maintains AA (Stable) credit rating

December 7, 2017


2017 Winnipeg Wards Boundaries Commission releases final report

Released: 9:26 a.m.

Winnipeg, MB – Today, the 2017 Winnipeg Wards Boundaries Commission (the Commission) released its final report establishing the boundaries and names of the 15 City of Winnipeg Council wards. The changes take into account future growth, while addressing current, significant population imbalances between wards.

On February 24, 2016, Council directed the Public Service to establish the Commission in 2017 to review the boundaries and names of the 15 Council Wards in the City of Winnipeg. The City of Winnipeg Charter requires that the Commission sit at minimum once every 10 years to establish ward boundaries based on the city’s population, as determined by the latest Census, and other criteria set out in the legislation. The last Wards Boundaries Commission was convened in 2009.

Members of the 2017 Commission are the Honourable Mr. Justice Kenneth R. Hanssen, Judge of the Court of Queen’s Bench of Manitoba, Dr. Annette Trimbee, President and Vice-Chancellor of The University of Winnipeg, and Mr. Marc Lemoine, Deputy City Clerk and Senior Election Official for the City of Winnipeg.

Using the 2016 Census data, reasonable growth estimates in specific neighbourhoods and input received from delegations, the Commission has addressed current imbalances through the creation of a new ward, Waverley West, and the reassignment of existing St. Charles Ward neighbourhoods into neighbouring wards. The Commission has also realigned several other ward boundaries and established the names of all wards. The overall number of wards has not changed, and remains at 15.

All 15 wards will now be within eight per cent of the average ward size, and will be able to absorb projected growth over the next five to 10 years.

Under the new ward boundaries, the difference between the largest and the smallest wards drops dramatically, from a current gap of almost 36,000 residents (between the South Winnipeg-St. Norbert and St. Charles wards), to a difference of approximately 6,500 residents (between the new River Heights – Fort Garry and Waverley West Wards).

The changes to the ward boundaries come into effect in September 2018, at the close of the nomination period for the 2018 Civic Election, and apply to all candidates.

The final report will be presented as information to Council at its meeting on December 13, 2017.

To view the final report, see City of Winnipeg – 2017 Winnipeg Wards Boundaries Commission.

City maintains AA (Stable) credit rating

Released: 9:53 a.m.

Winnipeg, MB – Standard and Poor’s has recently affirmed Winnipeg’s AA (Stable) credit rating based on a very strong and diversified economy, stable budgetary performance, strong financial management, and robust liquidity.

“Standard and Poor’s confirmation of our AA credit rating is an encouraging sign amidst a very challenging budget environment,” said Mayor Brian Bowman. “The AA rating is evidence of the City of Winnipeg’s strong and responsible approach toward managing the City’s finances.”

“In a year when we’ve faced and addressed so many funding challenges, it is rewarding to receive Standard and Poor’s affirmation,” said Councillor Scott Gillingham, Chair of the Standing Policy Committee on Finance. “The credit rating is reflective of the strong work the City’s management team does, and our commitment to fiscal prudence.”

In its research update, Standard and Poor’s noted that “Winnipeg exhibits strong financial management, which has a positive impact on the ratings. The management team is what we consider experienced and qualified to effectively enact fiscal policies, as well as effectively respond to external risks.”

Among other practices that positively reflect on the City’s credit rating process are the development and adherence to long-term financial and capital improvement plans, and the maintenance of an adequate level of operating reserves.

For more information, please see Standard and Poor’s research update pertaining to the credit opinion for the City of Winnipeg.

Published at Thu, 07 Dec 2017 10:53:00 -0500