Municipal Services

Financial Reporting

On an annual basis, Ministry staff prepare certain financial indicators for each municipality, based on the information contained in the FIRs. It is important to remember that these financial indicators provide a snapshot at a particular moment in time and should not be considered in isolation, but supported with other relevant information sources. In keeping with our Financial Information Return review process and follow-up, Ministry staff may routinely contact and discuss this information with municipal officials.

2021 Municipal Financial Profile
2021 Municipal Finance Indicators

The Financial Information Return (FIR) provides a standardized reporting of a municipality’s financial activities in the previous fiscal year (January to December).

Section 294 (1) of the Municipal Act states that the treasurer of a municipality shall in each year provide the Minister with a return containing information designated by the Minister with respect to the financial affairs of the municipality. This takes the form of the annual Financial Information Return (FIR). Municipalities must submit FIRs annually to the Ministry of Municipal Affairs and Housing by May 31.

Through the FIR template, a standard Excel workbook, the Ministry collects data on municipal financial position and activities, such as assets, liabilities, revenue, expenses, over the course of the previous fiscal year (based on the audited financial statements), as well as municipal statistical information. The template is updated annually to reflect changes to legislation and reporting requirements.

Please see the FIR for East Ferris HERE