Ontario’s Big City Mayors (OBCM) welcomes the province’s announcement today that they have secured Ernst & Young LLP as the third party auditor for the audits of the City of Toronto, Peel Region, Mississauga, Caledon, Brampton, and Newmarket on municipal finance and development fees. These audits will help to clarify the potential financial impacts of The More Homes Built Faster Act on these municipalities and regions.
“We welcome these audits and know they will demonstrate that municipalities are prudent with tax dollars, directing them to essential services in our communities,” said Marianne Meed Ward, Chair of OBCM and Mayor of Burlington. “We look forward to the audit results that can be used by the province, as promised, to keep municipalities whole from the financial impacts of Bill 23.”
Municipalities in Ontario use development charges to fund the services and infrastructure needed to support new growth in accordance with the Ontario Development Charges Act. These include water and wastewater, emergency services, transit, parkland and community centres and programming. OBCM believes that the outcome of these audits will show the significant financial impact The More Homes Built Faster Act will have on these much needed services and the current municipal model of “growth pays for growth.” We look forward to the province’s commitment that, “lessons learned from these audits will inform future provincial policies and programs supporting long-term municipal financial sustainability and housing-related infrastructure investments.”
About Ontario’s Big City Mayors
Ontario’s Big City Mayors (OBCM), formerly known as the Large Urban Mayors’ Caucus of Ontario, includes mayors of 29 single and lower-tier cities with a population of 100,000 or more, who collectively represent nearly 70 percent of Ontario’s population. OBCM advocates for issues and policies important to Ontario’s largest cities.
Mayor Marianne Meed Ward, Chair Michelle Baker, Executive Director