The City of Thunder Bay received the Canadian Award for Financial Reporting for its 2023 Annual Financial Report this week. The award is given out by the Government Finance Officers of the United States and Canada (GFOA).

The award was created to encourage municipal governments across Canada to produce high-quality financial reports, while also providing technical guidance for the municipal staff who create the reports.

The 2023 report was redesigned and enhanced to align with the (GFOA) standards for financial reporting in terms of format and content. The award confirms the City’s financial reporting meets best practices in terms of clarity, transparency and accountability.

The 2023 Annual Financial Report for the City of Thunder Bay was judged by a Canadian Review Committee, and met the program’s high standards, including a “spirit of full disclosure” designed to clearly communicate the City’s financial story and encourage the public to read the document

“Our team works diligently to make sure taxpayers and stakeholders have access to easy to understand and comprehensive financial information about the City’s operations,” said Keri Greaves, Commissioner – Corporate Services & City Treasurer.

“This is a significant achievement for the City, and shows our ongoing commitment to financial transparency and accountability.”

To read the 2023 report, and learn more about financial reporting, visit www.thunderbay.ca/en/city-hall/draft-financial-reporting.aspx.