Municipal Finances and Reporting
Financial Reporting
Pursuant to sections 27 and 28 of the Municipalities Act, all municipalities are responsible for preparing and submitting on an annual basis on or before April 1:
A Municipal Financial Information Return (MFIR);
An approved annual...
In all three of the current Acts that govern municipalities in Prince Edward Island, the main tool for ensuring that expenditures are budgeted and accounted for is the approval of the annual budget.
Adopting a Budget
As a result of an amendment to the...
Many municipalities on Prince Edward Island pay an honorarium to volunteer firefighters who volunteer in their municipal fire departments. This honorarium must be reported on T4’s that are issued by municipalities during the year.
Income Exemption...