Financial Services

Our department is primarily responsible for corporate financial management, accounting services and financial reporting, as well as property tax billing, collection and assessment services under the jurisdiction of various provincial statutes. Water and Wastewater/Stormwater financial reporting, residential and commercial water consumption analysis, Ministry of the Environment regulatory reporting and water billing data sharing projects with the Regional Municipality of York is also provided through this area.

Accounting Services:

• Prepares annual audited Consolidated Financial Statements and Schedules, and annual Provincial Financial Information Returns 
• Processes and issues payments for the City's operating, capital and statutory liabilities
• Ensures that the City's purchases and expenses are accurately recorded in the automated financial systems and that these expenditures are paid on a timely basis
• Ensures that the City's miscellaneous charges are billed, recorded and collected on a timely basis

Property Tax and Assessment:

• Prepares and issues property tax bills to more than 116,000 residential, commercial and industrial property owners under the jurisdiction of the Municipal and Assessment Acts
• Provides for property tax collection and maintains the property assessment and tax database
• Provides for the timely resolution of tax adjustments from the Assessment Review Board and tax appeal applications under the Municipal Act
• Monitors and reviews the City’s property assessment data from the Municipal Property Assessment Corporation (MPAC)

Water, Wastewater and Stormwater:

• Co-ordinates and develops the water, wastewater and stormwater annual budgets
• Establishes the water and wastewater user rates and the stormwater charge
• Reports financial operating results and unmetered / non-revenue water information bi-monthly
• Liaises with the City’s billing agent, Alectra Utilities, on billing and collection policy and customer issues
• Ministry of the Environment regulatory reporting under Ontario’s Water Taking Regulation (O. Reg. 387/04)
• Ministry of the Environment 6 Year Financial Plan Regulation (O. Reg. 453/07)