Financial Policies
Financial Policies provide guidelines for financial decision-making and are central to a strategic, long-term approach to financial management. These policies help guide decision-making, manage risk, and ensure transparency in how public funds are used.
Long-Term Financial Planning Framework
The Region of Durham has adopted a new Long-Term Financial Planning Framework that provides an integrated and coordinated focus on funding Regional Council’s new priorities, accommodating growth, and investing in infrastructure and service levels, with stable taxes and user rates. The plan brings together our financial planning process and financial policies, which are guided by three core principles of financial flexibility, sustainability, and affordability. A detailed reserve fund policy was also established through Report #2019-F-33. For further information, please contact the Commissioner of Finance using the email link or contact information below.
Listed below are the Region’s primary financial policies:
| Budget Management Policy |
| Durham Region’s Budget Management Policy provides a guideline for the expenditure of funds, provides an accountability framework that establishes the extent of authority for spending decisions, both planned and unanticipated, and outlines the discretion permitted in the spending decisions within the authority as delegated by Regional Council. |
| Purchasing By-law 16-2020 |
| Tenders and proposals will be called, received, evaluated, accepted and processed in accordance with the Purchasing By-law 16-2020 and tendering/proposal procedures. To learn more about doing business with the Region please visit the Purchasing page. |
| Statement of Investment Policy |
| Durham Region’s Investment Policy Statement governs the investment of the Region’s long-term funds and short-term funds that comprise its investment portfolio. |
| Letter of Credit Acceptance Policy |
| The Letter of Credit Acceptance Policy outlines when and how Durham Region accepts letters of credit as financial security for development-related obligations. |
| Surety Bond Acceptance Policy |
| The Surety Bond Acceptance Policy outlines when and how Durham Region accepts surety bonds as financial security for development-related obligations. |
| Durham Region Community Investment Grant Policy |
| Local healthcare and post-secondary education institutions may be eligible for financial assistance toward capital infrastructure projects under the Durham Region Community Investment Grant Policy, as approved by Council through Report #2019-F-34. Eligible projects could receive funding of up to 7.5 per cent of total capital infrastructure costs, subject to compliance with the terms and conditions set out in the policy. Special one-time infrastructure projects that are not associated with local healthcare or post-secondary institutions may also be considered for financial assistance, provided that they meet the Region’s strategic objectives and provide a Region-wide benefit. Further details on the Durham Region Community Grant Policy can be found in Report #2019-F-34, or by contacting the Commissioner of Finance using the contact information below. |
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