While COVID-19 has created a uniquely difficult situation for Ontario’s municipalities, it has also exposed areas to improve municipal fiscal governance. Local governments do not have the fiscal autonomy they need to make them competitive and maintaining the status quo could be devastating for communities in a post-COVID economic recovery. The impact of the virus and the resultant public health measures have meant that most municipalities are seeing a decline in revenue and increase in expenditures.
As all levels of government look to balance debt and deficits while protecting the well-being of our communities, Better Budgets: Bolstering the Fiscal Resilience of Ontario’s Municipalities, identifies 14 recommendations for both the Province and municipalities which can bring immediate and long-term relief to communities across Ontario.
Enormous thanks to our partner KPMG Canada and the report’s authors for their collaboration on this important report.