Hamilton ranks last in financial transparency for second year

Hamilton has once again ranked last in financial transparency among Canada’s major cities, receiving failing marks across all categories in a new report from the C.D. Howe Institute.

The C.D. Howe Institute looks at the financial transparency of 32 major cities in Canada, and in 2024, Gatineau, Regina, Windsor, and Hamilton have all scored an F.

The report was released last week and it grades cities on how clearly and accurately they present their finances.

Cities are scored on a scale of zero to three in areas such as adherence to Public Sector Accounting Standards, year-end transparency, and budget reconciliation.

Hamilton was the only city to score a zero in all 13 categories for 2024.

The low score is a reflection of last year’s cyber security incident, which delayed the city’s completion of audited financial statements.

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The C.D. Howe Institute says financial reports are tools for decision making and accountability.

Elected representatives and voters need to know how governments plan to raise and spend money, and if they did what they said they would do.

The Niagara Region received a C in the report, and Halton got a D.

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