Township Services

Financial Reporting

The Township of Mapleton is committed to keeping Council and the public informed of our financial position. Financial statements are prepared in accordance with Public Sector Accounting Standards. The annual financial statements are audited by an independent accounting firm. The Province of Ontario requires all municipalities to submit their audited financial statements each year as part of the required detailed financial reporting in the Financial Information Return. 

The Financial Statements reflect our business in compliance with the Public Sector Accounting Standards, while the Township prepares its budgets and periodic financial reporting on a modified cash basis, as most municipalities continue to do so.  The key differences is in the way that capital project investments are treated. The municipal budget does not make a provision for "amortization of capital assets" or the consumption/depreciation of infrastructure. The municipal budget approach includes a transfer of cash into our reserve funds to be used to rehabilitate or replace our capital assets.  These are the main, but not all differences between the audited financial statements and the annual budget presentation.

Please see below our most recent financial statements:

Financial Statements 

Financial Information Returns

The Financial Information Return provides a standardized reporting of a municipality’s financial activities in the previous fiscal year (January to December).

Section 294 (1) of the Municipal Act states that the treasurer of a municipality shall in each year provide the Minister with a return containing information designated by the Minister with respect to the financial affairs of the municipality. This takes the form of the annual Financial Information Return (FIR). 

Municipalities must submit FIRs annually to the Ministry of Municipal Affairs and Housing by May 31.

The FIR submissions are accessible online through the Ministry of Municipal Affairs and Housing website.

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