Municipal Budgeting and Long-Term Financial Planning Tools
Municipalities are required to comply with standards set by the Public Sector Accounting Board to account for all tangible capital assets and properly amortize them (depreciate their value over time) in their financial statements.
The resources below were developed to help municipalities meet these requirements and to support municipal budgeting and long-term financial planning.
Municipal financial statements
This common language guide to municipal financial statements provides examples of a municipality’s annual audited financial statements and explains key concepts.
Budgeting and surplus/deficit
Learn about the internal budget planning process for municipalities including budget planning methods, types of budgets, financial statements and how surplus and deficit relate to budget planning and long-term financial planning.Unfunded liabilities
Find out how unfunded liabilities apply to municipal budgeting and why they are important to financial planning.
Infrastructure investment
Learn about how an effective asset management plan can help municipalities identify infrastructure needs and make efficient use of infrastructure investments.
Find out more about Ontario’s regulatory framework for municipal borrowing and why debt may be useful in financing long-term capital needs. This case study helps illustrate how debt can be used to support long-term municipal infrastructure investment.
Engaging the community in municipal financial planning
Learn more about why it’s important for the public to be involved in their municipality’s financial planning processes and how Ontario municipalities have engaged residents.
External links to municipal finance resources
Municipal Finance Officers’ Association of Ontario
Association of Municipal Managers, Clerks and Treasurers of Ontario
Ontario Tax and Revenue Association
Institute for Municipal Finance and Governance