Item No. 7.4
Council Report: C 23/2020
Subject: Ministry of Municipal Affairs & Housing 2018 Financial Indicator Review
Reference:
- Date to Council: February 24, 2020
- Author: Dan Seguin
- Deputy Treasurer - Financial Accounting
- 519-255-6100 #1663
- dseguin@citywindsor.ca
- Financial Accounting Report Date: February 7, 2020
- Clerk's File #: SS2020
To: Mayor and Members of City Council
Recommendation:
THAT City Council RECEIVE for information the Ministry of Municipal Affairs & Housing 2018 Financial Indicator Review report for the City of Windsor.
Executive Summary:
N/A
Background:
On an annual basis, the Ministry of Municipal Affairs and Housing conducts a review of the Financial Information Returns (FIR) and Financial Statements submitted by municipalities. Through the use of several key financial indicators, municipal financial performance is monitored in relation to established Provincial thresholds. These indicators provide a snapshot of a municipality's financial risk profile.
Discussion:
The City of Windsor recently received the latest Financial Indicator Review Report from the Ministry which is based on the 2018 Financial Information Return (See attached Appendix A). The Financial Indicator Review measures a number of indicators as listed below: