FIR Multi-Year Reports

Year 2009 and Later

The Multi-Year FIR Review (2009 On) – By Municipality provides selected FIR information by municipality for the years 2009 and greater.

In 2009, the Public Sector Accounting Board introduced new accounting and reporting standards which required municipalities to adopt full accrual accounting practices. As a result of these changes, municipalities must now account for and report their tangible capital assets in their Statement of Financial Position. The FIR also adopted these new reporting standards effective 2009.

During the period 2000 to 2008 the accounting and reporting standard used by municipalities was Fund Accounting. Municipalities flowed their revenues and expenditures through three funds: Revenue Fund (Revenues and Expenditures), Capital Fund (Expenditures and Financing), and Reserve Funds. Tangible Capital Assets were not reported.

As a result of the accounting and reporting changes made effective in 2009, many of the data points between the two accounting standards (i.e. pre and post 2009) are not comparable. For this reason, caution should be exercised when combining data from the two reporting periods.

All Municipalities in Ontario are shown in Tables by 5 Geographical Areas.