Reporting to the taxpayer

Not unlike the shareholder of a company, taxpayers want to know two key things about how the money is used:

  •  There has been no fraud or misappropriation of funds
  • Quality of decision making (has it delivered results)

Taxpayers elect members of Council to ensure that management is accountable for the funding that is entrusted to them to deliver municipal programs and services.

The annual presentation of Financial Statements is a critical part of ensuring that accountability – the accountability of management to Council, management to taxpayers and Council to taxpayers.

Financial Statements are prepared by management – specifically our Chief Financial Officer and the Finance Department.

Council engages an auditor to independently review the financial statements to ensure that they are an accurate reflection of the City’s financial position.  Council’s Audit Committee is delegated the responsibility to oversee the entire process.

This year, the Financial Statements are an enhanced version of what we’ve published in the past and part of the City’s commitment to providing better, more accessible information about our financial position. Being transparent about the City’s financial position means providing information that’s easy to digest and meaningful to people and we have worked to put together a community report that’s accessible to everyone. One needn’t be a financial analyst to gain insight from this report and for those who want the detailed numbers the full report is included.

Click here to view the We’re Making a Difference 2010 Financial and Community Report.


											
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About Karen Farbridge

An unwavering change maker seeking a just, democratic and sustainable world.

View all posts by Karen Farbridge

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