CONNECTING COMMUNITIES Edmonton Public Library Financial Report 2021

Financial Report 2021 The City of Edmonton Library Board 11 Financial Control and Accountability Financial Control and Accountability The proposed capital budget is approved by the EPL Board, and the City of Edmonton Council approves the EPL maintains the following processes to ensure that funding requisition for each capital project. [...] Provincial Government, and other library stakeholders that understand the importance of public libraries, and the • The use of resources with a goal of maximizing positive impacts our services have on the overall social, value in the delivery of services in the future. [...] Financial Report 2021 The City of Edmonton Library Board 14 Financial Statements Financial Report 2021 The City of Edmonton Library Board 15 Management’s Report The financial statements of the City of Edmonton Library Board (the “Library”) are the responsibility of management and have been prepared in accordance with Canadian Public Sector Accounting Standards, as disclosed in the notes to the fin. [...] Use of estimates The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the amounts of revenues and expenses during the reporting period. [...] The grant is used by the Library to engage with local Indigenous Financial Report 2021 The City of Edmonton Library Board 35 Page 16 of 19 THE CITY OF EDMONTON LIBRARY BOARD Notes to the Financial Statements For the Year ended December 31, 2021 communities to gather and record Indigenous culture through storytelling and sharing the stories on a digital public space.