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As the size and scope of responsibilities for cities expands, do local governments have the appropriate financial and governance arrangements to effectively and efficiently deliver services to residents?
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Local fiscal autonomy is the extent to which local governments rely on locally raised revenues for funding and their ability to set their own tax rates. A comparison of Toronto, London (UK), Paris, Berlin, Frankfurt, Madrid, Tokyo, and New York reveals that Toronto is less dependent on intergovernmental transfers than many other major cities but, with the exception of London, it has fewer tax options.
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This paper describes and compares land value capture (LVC) tools in São Paulo and Toronto, and uses quantitative data to determine the benefits derived from the tools and expert interviews that explore the political and historical background associated with their use.
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When Toronto's Ward Boundary Review (WBR) began in 2013, the city's 44 wards varied widely in size, ranging from 45,000 to 90,000 residents. This paper sets out the contested legal terrain within which the City of Toronto’s WBR took place and assesses possible next steps, including the grounds for a possible Ontario Municipal Board appeal.
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Can debt financing be “green”? On June 21, IMFG post-doctoral fellow Gustavo Carvalho presented on climate financing in Ontario cities, looking at financial instruments and strategies that have been successfully implemented elsewhere, with a focus on green bonds, environmental impact bonds, and green banks.
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Financial investments are an important part of the fiscal tools available to Canadian municipalities. A well-executed investment strategy can provide a source of income to municipalities, helping them prepare for future budgetary pressures and revenue fluctuations. This paper describes how the current municipal investment regime in Ontario works and its future direction and challenges.
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The Institute on Municipal Finance and Governance (IMFG) at the University of Toronto and the Institute without Boundaries (IwB) at George Brown College have worked together on a data visualization pilot project that brings municipal finance data to life. Leveraging the municipal finance expertise of IMFG and the design experience of the IwB and School of Design at George Brown College, this collaborative project is intended to highlight key issues in Ontario’s municipal finance and illuminate them in compelling and accessible ways.
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By most accounts, inter-local contracting and service sharing is increasing. This presentation considers a number of questions related to accountability and transparency in these types of local servicing arrangements.
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