The City of Markham has earned an “A” (85 per cent score) in the C.D. Howe Institute’s annual report card on municipal fiscal transparency.
Markham’s score places the city in the top five out of 31 major Canadian municipalities in the report.
“Once again, the City of Markham has scored top marks and placed first amongst Ontario municipalities,” Mayor Frank Scarpitti said. “This is a reflection of our transparent, informative and accessible budget process. We continue to deliver exceptional services to residents while keeping taxes low. Markham maintains the lowest 16-year average property tax increase in the GTA and froze property taxes in 2021 to provide residents with further financial relief given the uncertain times.
“This acknowledgement by the C.D. Howe Institute is a testament to the hard work of Markham Council and staff to ensure our budgets are well-communicated, timely and transparent.”
The “Time for an Upgrade: Fiscal Accountability in Canada’s Cities, 2020” report card grades 31 major Canadian municipalities on the clarity, comprehensiveness, and timeliness of their financial presentations. Ten different criteria are used to score municipalities’ most recent budgets and financial statements. According to the C.D. Howe report, Markham presented a comprehensive, clear and timely budget.
The C.D. Howe Institute is an independent not-for-profit research institute whose work focuses on economic policy intelligence and research. In publishing the “Time for an Upgrade: Fiscal Accountability in Canada’s Cities, 2020” report, it encourages all municipalities to “produce information that is more accessible and timely” in reference to financial reporting, a commitment central to the City of Markham’s annual financial review process.