City of Nanaimo Takes Steps to Improve Financial Transparency

September 12, 2016

NANAIMO – The City of Nanaimo has posted the first of its interim employee expense reports subject to the Financial Information Act.

The Financial Information Act, among other requirements, requires that public employers such as municipalities annually publish, in summary, the names and amounts, earned and expensed, by employees who are paid more than $75,000 per year, within six months after the close of the fiscal year.

“The new process of increasing the reporting-out of financial information detailing staff salaries and expenses is intended to provide greater transparency around how money at City Hall is being spent,” says Tracy Samra, the City’s Chief Administrative Officer. “This step, combined with the increased quarterly reporting for Council expenses that’s now underway, has dramatically increased the availability and frequency of this type of information.”

Following the recent decision to increase reporting of Council expenses from annually to quarterly, the City will now publish bi-annual reports for staff expenses for those employees who have earned more than $75,000 to-date. The reports will be published in two submissions – one in August and another in November – with the final publication being the Statement of Financial Information in the preceding year once the external audit is completed.

The report published today covers the first six months of 2016, ending June 30, 2016. The information provided in the report exceeds the legislative requirement of reporting a single lump sum figure; details are broken into specific categories with individual amounts cited.

A copy of the report is available at the following link.

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