Office of the Chief Financial Officer & Treasurer Budget
The Office of the Chief Financial Officer & Treasurer provides quality financial services; corporate strategic advice; financial and risk management expertise; and corporate financial planning, management, reporting and control services to Divisions, Agencies, City Council and the public. We deliver the following services:
- Finance and Administration
- Corporate Finance
- Financial Planning
- Internal Audit
Download the Budget Analyst Notes for Office of the Chief Financial Officer & Treasurer for detailed information. You can also review budget highlights below.
The Office of the Chief Financial Officer & Treasurer ensures the effective use of the Corporation’s financial resources by providing sound financial planning management and advice; maintaining financial control and developing and implementing effective financial strategies to ensure the fiscal sustainability of the City in delivering programs and services to the public.
The total budget for the Office of the Chief Financial Officer & Treasurer is $20.9 million gross and $11.4 million net.
- 0.2% Budget reduction over the 2018 Approved Net Operating Budget to maintain existing service levels and providing funding for additional service demands.
- $0.103M Increased recoveries from Rate Programs and corporate accounts for inflationary increases for direct support to these functions.
- 2020/2021 Increases primarily for known adjustments for salaries and benefits (progression pay/step increases, annualizations).
- Support and lead process changes resulting from business transformation.
- Review tax and revenue policies to improve City revenue growth.
- Develop strategies to address capital funding challenges from rising state-of-good-repair needs and growth demands.
- Develop strategies to address the funding gap on the City’s operating budget resulting from growing demands for service expansion and escalating costs to deliver current service levels.
- Assist in negotiations with Province in the key areas of social housing, transportation and transit.
- Aging workforce – significant number of senior staff eligible to retire over the next five years.
- Modernize budget process.
- Continue implementation of Long-Term Financial Plan.
- Enhance trust, transparency and accountability over financial processes.
- Prioritize State of Good Repair investments through the City’s ten-year Capital Plan.
- Develop immediate and long-term financing and funding strategies for key city-building priorities such as Transit Expansion; Rail Deck Park; Port Lands Servicing; TOcore Project.
- Support City Manager in discussions with Province on realignment of transit responsibilities.
- Lead the financial sustainability modernization initiative.
Find more information on specific City issues, opportunities and challenges in the briefing notes and reports prepared by City staff. Documents will be posted as they become available.