2023 By-Election for Mayor: Candidate Financial Filings

All candidates are required to file a Financial Statement – Form 4 by 2 p.m. on September 11, 2023.

You are responsible for keeping records of the financial activities related to your campaign. You may want to consult with an auditor or an accountant early in your campaign to make sure that you are using a bookkeeping and accounting system that will suit your needs.

You should also look through the Financial Statement – Form 4 that you will be required to file to make sure that you are keeping records of all the information that must be included on the statement.

More information can be found in the Finances section of the Manage a Campaign web page.

You will be required to file a Financial Statement – Form 4 for each campaign.

  • Withdrawn campaigns will show all financial activity from the day the nomination paper is filed until the day the withdrawal is filed
  • A current campaign will show all financial activity from the day the nomination paper is filed until the end of the campaign period (August 10, 2023)

Monday, September 11, 2023 at 2 p.m.

  • Deadline for candidates to file their initial financial statement

Wednesday, October 11, 2023 at 2 p.m.

  • End of 30-day grace period during which candidates can still file their initial financial statement if they pay a $500 late filing fee

Wednesday, March 13, 2024 at 2 p.m.

  • Deadline for candidates to file the supplementary financial statement (applies only to those who extended their campaign period)

Monday, April, 15, 2024 at 2 p.m.

  • End of 30-day grace period during which candidates can still file their supplementary financial statement if they pay a $500 late filing fee

You must have your financial statement audited by a licensed auditor under the Public Accounting Act, 2004 and include the auditor’s report when you submit your financial statement if:

  • You raised or spent more than $10,000; or
  • You are participating in the Contribution Rebate Program (regardless of the amount you raised or spent)

If your campaign ends with a surplus, you can refund the value of contributions that you and your spouse made from the surplus. You are not permitted to refund eligible contributions made by anyone other than you or your spouse.

If a surplus still remains, this surplus must be paid to the City Clerk when you file your financial statement. You (or an agent) must file your financial statement in-person at our City Hall office.

The surplus can be paid via cash, certified cheque, bank draft or money order payable to “Treasurer, City of Toronto”. Please note that personal cheques are not accepted.

If an eligible elector believes a candidate has broken election finance rules, they may apply for a compliance audit of their campaign finances. The application must set out the reasons why they believe the candidate contravened the rules.

An application for a compliance audit must be submitted to the City Clerk within 90 days of the deadline to file a financial statement.

A compliance audit committee will decide whether to grant or reject the application. Candidates may appeal the Committee’s decision to the Superior Court of Justice within 15 days of their decision.

Public documents can only be viewed at Toronto Elections Office, City Hall (100 Queen St West) during regular business hours (Monday-Friday – 8:30 a.m. to 4:30 p.m., excluding holidays)

Financial Statements

  • Filed financial statements are public documents and will be posted on the City’s website in their entirety, including the names and addresses of all those who contributed over $100.

Under the Municipal Elections Act, 1996, a candidate will automatically receive penalties if:

  • They fail to file a financial statement by the end of the 30-day grace period or fail to apply for an extension by the filing deadline
  • Their financial statement shows they exceeded the spending limit
  • They fail to turn over any surplus to the clerk when they file financial statements

Penalties are ineligibility to run for office or fill a vacancy until after the 2026 election and if elected, you will forfeit the office.