The City of Thunder Bay strives to be one of the "best-run cities in Canada". The City's performance is measured in a variety of ways.

Annual report

Each year, the City prepares an annual report that gives an update on the priorities identified in the Strategic Plan, and includes the annual financial statements. Previous year's financial statements are also available.

Credit rating

S&P Global Ratings have reaffirmed the City's credit rating of AA Stable based on strong budgetary performance, prudent financial management practices, low municipal debt burden, and excellent liquidity balances. The stable outlook reflects S&P Global's expectation that over the next two years the City will continue to experience strong budgetary results that will help maintain healthy reserve and liquidity balances and decrease debt burden.

BMA Municipal Study

The City of Thunder Bay participates in a municipal comparative study conducted by BMA Management Consulting Inc.

In 2019, 110 cities including Thunder Bay took part in a study done by BMA Management Consulting Inc. that compared financial information, user fees, tax policies and rates, sewer and water services, and taxes as a percentage of income.


Benchmarking initiatives

The City of Thunder Bay takes part in other benchmarking work including the Municipal Benchmarking Network Canada (MBNCanada), which brings cities together to share information on best practices to lower the cost and improve the quality of local services. Visit the City of Thunder Bay's Municipal Benchmarking Network Canada to learn more.

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