Business & Financial Management

The indicators in this section relate to the City’s overall short- and long-term financial management.

City Revenues Per Capita

The indicator measures the total revenue collected by the City, including grants and operating revenue (collected via taxes, user fees, etc), divided by the number of residents.

Reporting frequency: Annually Last updated: 2024 View fullscreen

Comments

City revenues per capita in St. Albert increased steadily over the long term, reaching $4,195 per resident in 2023 before declining to $3,969 in 2024. Despite the year-over-year decrease (approximately 5.4 per cent), 2024 remains above most pre-2020 levels.

In comparison to other Alberta municipalities shown, St. Albert’s 2024 revenue per capita is higher than Airdrie ($3,620) and Grande Prairie ($3,510), but lower than Red Deer ($4,384) and Lethbridge ($5,380). Overall, St. Albert remains in the mid-range of the comparator mid-sized Alberta municipalities, with year-to-year changes reflecting shifts in total municipal revenues and population.

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Investment Rate of Return for the City

The indicator shows the City's short- and long-term investment returns. Short-term investments include mainly term deposits, and the returns are compared to the Canadian one-year Treasury Bill Rates. Long-term investments include mainly corporate and government bonds and principal-protected notes. The returns are compared to the Government Bond rates.

Short-Term Returns

Reporting frequency: Annually Last updated: 2024 View fullscreen

The average Rate of Return for short-term investments in 2024 was 5.54 per cent, which is slightly higher than 5.29 per cent in 2023.

As investments mature and interest rates drop, this average rate will decrease. The average Treasury Bill Rate has decreased slightly from 4.79 per cent in 2023 to 4.08 per cent in 2024, due to a decrease in interest rates.

Long-Term Returns

Reporting frequency: Annually Last updated: 2024 View fullscreen

Average Rate of Return for long-term investments in 2024 is 2.56 per cent, which is slightly higher than 2023 at 2.4 per cent as bond rates rise when interest rates fall. As investments mature and interest rates continue to drop, this average rate will increase and be more in line with the Government of Canada benchmark rates. The average 3 Year and 7 Year Government of Canada benchmark bond rates are 3.53 per cent (2023 – 4 per cent) and 3.21 per cent (2023 – 3.38 per cent), respectively, for 2024.

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Business Licences

The indicator measures the total number of business licences based in St. Albert (excluding non-resident businesses). The number of licensed businesses can indicate local economic growth or contraction.

Reporting frequency: Annually Last updated: 2025 View fullscreen

Comments

The number of annual business licences has seen steady growth with some fluctuation between 2012 and 2025. A minor decrease of 0.5 and 0.8 per cent occurred during 2013 and 2014, followed by stronger growth between 2 and 3 per cent annually until 2019.

A noticeable decrease began in late 2019 and continued until late 2021, likely attributed to the impacts of the COVID-19 pandemic. Annual business licences have remained relatively stable since 2020, with small year-to-year changes.

The number of active business licences increased to 2,857 in 2025, up from 2,814 in 2024. This represents a 1.5 per cent increase.

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Non-Residential Taxable Assessment Base

This indicator measures the dollar amount (in billions) of the taxable non-residential assessment base in the City of St. Albert. It is updated annually using data from the property assessment roll and includes the assessed value of all taxable non-residential properties.

Reporting frequency: Annually Last updated: 2024 View fullscreen

Comments

In 2024, the non-residential taxable assessment base in the City of St. Albert increased to $2.28 billion, up from $2.13 billion in 2023. This continues the long-term upward trend in non-residential assessment values observed over the past two decades.

Growth in the non-residential assessment base reflects both new commercial and industrial development, and changes in market values applied through the annual property assessment process.

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Non-Residential Assessment Base Percentage

The indicator measures non-residential taxable assessment as a percentage of the total taxable assessment base. It includes industrial and commercial properties within St. Albert. This metric is distinct from the "Tax Split," which refers to the proportion of tax revenue collected from each property class.

Reporting frequency: Annually Last updated: 2024 View fullscreen

Comments

In 2024, non-residential properties accounted for 14.50 per cent of the total taxable assessment base in St. Albert, a slight decrease from 14.80 per cent in 2023. While the share declined modestly, the proportion remains significantly higher than earlier levels, reflecting the long-term growth in the City’s commercial and industrial assessment base.

This indicator is used to compare St. Albert’s assessment composition with other mid-sized municipalities. Growth in the non-residential assessment base is influenced by both new development and changes in market values, including development in areas such as the Lakeview Business District.

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Taxable Assessment Growth

The indicator displays the total physical growth of St. Albert’s assessment base in a weighted average. The data represents percentage growth to illustrate year-over-year percent changes rather than dollar values.

Reporting frequency: Annually Last updated: 2024 View fullscreen

Comments

Assessment Growth for 2024 was 2.99 per cent, which is considered a strong year given the historical trend.

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Corporate Expenditures Per Capita

The indicator measures the total operating expenditures incurred divided by the number of residents in each city to show total spending to maintain services to the community.

Reporting frequency: Annually Last updated: 2024 View fullscreen

Comments

St. Albert’s expenses per capita were $3,287 in 2024, staying stable compared to $3,305 in 2023 (-0.5 per cent) and consistent with long-term trends. The City of St. Albert remains competitive with other mid-sized municipalities in per capita costs.

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Total Debt to Provincial Limit Ratio

The indicator shows how much the City is borrowing. It shows the percentage of the total City debt to the limit allowed by the Province of Alberta.

Reporting frequency: Annually Last updated: 2024 View fullscreen

Comments

In 2024, the City of St. Albert’s total debt to provincial limit ratio was 26.15 per cent, slightly lower than 26.39 per cent in 2023. Overall, St. Albert’s debt utilization as a percentage of the legislated provincial debt limit has remained relatively stable in recent years and continues to be in the middle compared to other mid-sized Alberta municipalities. St. Albert remains below several comparator cities, reflecting a cautious and sustainable approach to borrowing.

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