Markham achieves an “A-” rating from C.D. Howe for fiscal accountability and transparency

MARKHAM, ON – February 2, 2022 – The C.D. Howe Institute has given the City of Markham an A- in its annual report card on municipal budgeting, financial reporting and fiscal transparency. Markham’s score of over 80% places the City in the top 6 of 31 major Canadian municipalities included in the report.

“Once again, the City of Markham has scored very high marks and achieved the top ranking amongst Ontario municipalities,” said Mayor Frank Scarpitti. “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 17-year average property tax increase in the GTA and the 2022 property tax rate increase was well below the rate of inflation. 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 “Solving the Municipal Budget Mystery: Fiscal Accountability in Canada’s Cities, 2021” report card grades 31 major Canadian municipalities on the clarity, comprehensiveness, and timeliness of their financial presentations. Twelve 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 “Solving the Municipal Budget Mystery: Fiscal Accountability in Canada’s Cities, 2021” report, it encourages all municipalities to “produce information that is more accessible and timely” in reference to budgeting and financial reporting, a commitment central to the City of Markham’s annual financial review process.

Read the C.D. Howe Institute’s “Solving the Municipal Budget Mystery: Fiscal Accountability in Canada’s Cities, 2021” at https://www.cdhowe.org/sites/default/files/2022-01/Commentary_617.pdf 

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Markham Mayor Frank Scarpitti's Office:
At mayorscarpitti@markham.ca.

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About Markham: Markham, an award-winning municipality with more than 354,000 residents and the largest of nine communities in York Region, is home to over 650 headquartered companies and more than 1,500 high tech and life science companies. Markham is a leader in attracting foreign direct investment with more than 234 foreign companies located in the City. Founded in the 1790s, today Markham is Canada’s most diverse community and enjoys a rich heritage, outstanding community planning and services, and a vibrant local economy.
 

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