The City of Richmond has once again been recognized for its commitment to financial transparency, accountability and responsible fiscal management, receiving top honours from the C.D. Howe Institute and the Government Finance Officers Association (GFOA).
“Residents expect their local government to manage public funds responsibly and transparently,” said Mayor Malcolm Brodie. “These recognitions reflect the City’s ongoing commitment to strong financial stewardship, accountability and providing accessible information that helps residents understand how public resources are managed.”
For the fourth consecutive year, Richmond earned the highest grade awarded in the C.D. Howe Institute’s annual report card on municipal budgeting, financial reporting and fiscal transparency. Richmond received a grade of A-, one of only six Canadian municipalities to achieve the top rating for 2025. The grades assess whether municipal budgets and financial statements provide clear and timely information so that Council, taxpayers and other non-expert readers can evaluate and hold local governments accountable for their decisions.
The City also received the GFOA Canadian Award for Financial Reporting for its 2024 comprehensive annual report, marking the 23rd consecutive year Richmond has received this honour. In addition, the City received the GFOA Award for Outstanding Achievement in Popular Annual Financial Reporting for its 2024 annual report highlights publication for the 16th consecutive year. These awards recognize municipalities that go beyond statutory reporting requirements to produce financial reports that are comprehensive, transparent and accessible to the public.
Richmond’s continued recognition reflects the City’s longstanding focus on fiscal responsibility, transparent governance and effective communication with residents.
To read the C.D. Howe Institute’s Making Sense of City Budgets: Grading the Fiscal Accountability of Canada’s Municipalities, 2025, visit cdhowe.org/publication/making-sense-of-city-budgets-grading-the-fiscal-accountability-of-canadas-municipalities-2025/.
Both versions of the City’s award-winning 2024 Annual Reports are available at richmond.ca/AnnualReport or from City Hall upon request.