‘Engaging’ financial report, budget earn awards

The City of Markham’s commitment to creating financial reports and budgets that are “accessible and engaging” to residents and businesses is once again paying dividends.

For the 21st consecutive year, the city has earned a Distinguished Budget Presentation Award and for the 20th consecutive year, a Canadian Award for Financial Reporting, both from the Government Finance Officers Association (GFOA).

The first award recognizes Markham’s comprehensive 2021 budget document that allows residents to be fully informed of its policies, corporate initiatives and financial plans, and that fosters better decision making and accountability. It’s the highest form of recognition in governmental budgeting.

The city’s budget also received a Special Performance Measures Recognition.

The second award recognizes an easily readable and efficiently organized annual financial report for the year ending December 31, 2020. The award recognizes transparency and disclosure over and above the minimum requirements of generally accepted accounting principles established by the Public Sector Accounting Board.

“We are so proud of these awards. They are the result of many hours of hard work every year by staff to ensure we are being as transparent as possible to our citizens and stakeholders,” says Budget Chief Councillor Amanda Yeung Collucci. “We’ve been able to develop a financial report and budget that’s accessible and engaging to Markham residents and businesses.”

“This is a praiseworthy achievement by Markham and we are determined to continue delivering excellent services to residents while keeping taxes low,” says Mayor Frank Scarpitti.

The GFOA is a non-profit association that serves more than 20,000 government finance professionals throughout North America. Its mandate is to enhance and promote the professional management of governments for the public benefit.

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