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  • Board Procedures
  • Governance Policies
  • Adequacy Standards

Governance
Financial Management Policy

Policy No.01/05

Date Approved:                 May 25, 2005

Date Reviewed:                 May 2014

Date Amended:                 September 26, 2018

Reporting Requirements:  Annually and Quarterly as noted in Policy                             

Legislative Authority:         Police Services Act section 31(1)(c); section 39


1.  Policy Statement

Under Section 31(1)(c) of the Police Services Act, the Board shall establish policies for the effective management of the police service.

The Board is committed to ensuring that the principles of fiscal integrity and accountability govern the financial planning and financial management practices of York Regional Police.

The Board ensures that policing programs and initiatives are consistent with the goals, objectives and priorities outlined in its Business Plan.  Furthermore, the Board also ensures that services are provided in an efficient matter and in a way that provides the greatest value to the taxpayer.

The Chief of Police shall comply with the requirements set out in this policy in directing York Regional Police.

2.  Purpose

This policy establishes key objectives with respect to financial governance to ensure:

  • accountability to the taxpayer;
  • financial commitment to the Business Plan;
  • efficient use of police resources/funding and;
  • long-term financial sustainability by optimizing cost, risk and performance.

This policy provides direction to the Chief of Police in establishing procedures with respect to sound financial planning and effective financial management of the York Regional Police budget.

3.    Statutory Authority

Section 39 of the Police Services Act requires the Board to submit operating and capital estimates to Regional Council that will show, separately, the amounts that will be required to maintain the police force and provide it with equipment and facilities and to pay the expenses of the Board’s operation.

Subsection 30 (1) of the Adequacy Standards Regulation requires the Board to prepare a Business Plan at least once every three years.

Sections 132 and 133 of the Police Services Act govern property and monies seized by members of the York Regional Police in the lawful execution of their duties.

4.      Policy Guidelines

Financial Planning

The Board recognizes that stewardship for the use of corporate funds is a primary management responsibility.  Therefore, the Board holds the Chief of Police accountable for the deployment of financial resources within the approved annual budget, for compliance with legal and administrative policies, for efficiency and economy in operations, and for the achievement of annual objectives as set out in the Business Plan.

The Chief of Police shall develop annual operating and capital budgets in formats and timelines established by Council for Board approval which are sustainable, responsible and affordable in current and future years and further which ensure adequate and effective services to the public.

The annual budget shall provide projections that adopt policing practices that align with changing needs, standards and legislation and support industry-leading objectives.

The Chief of Police shall not exceed the approved operating and capital budgets without the prior approval of the Board.

Planning and Priority-Setting

In consultation with the Chief of Police and multiple stakeholders, the Board determines objectives and priorities for policing in York Region.  The planning and priority-setting process involves the development of broad long-range plans, a statement of goals, strategies and performance indicators within each Business Plan and the development of specific annual operating and capital budgets.

Exceptional Circumstances

The Chief shall advise the Board immediately of exceptional budgetary circumstances when they arise.

External Reporting

Mandated reporting for external purposes include:

  • Annual audited statements in conjunction with York Region’s external audit;
  • Grant reporting, as required; and
  • Other mandatory financial reporting, as requested by external parties.

Internal Control

The Chief of Police shall ensure that there is an adequate process of internal control within the organization and that staff comply with legislative and statutory requirements, Board policies, Regional and Ministry requirements and financial principles, procedures and regulatory audit processes.

5. Reporting Requirements

The Chief of Police shall ensure that financial reporting is timely, accurate and relevant.  In addition, the Chief of Police shall ensure compliance with all external reporting requirements and establish internal reporting mechanisms within the organization.  The reports to the Board shall include:

  • Quarterly reporting on actual financial performance including year-end financial forecasts;
  • Disposition of the surplus or deficit in accordance with the Regional Fiscal Strategy;
  • Annual reporting of audited financial statements;
  • Other financial reporting, as requested by the Board.
Back to Governance Policies

Regular Meeting of the Board

Wednesday, April 26, 2023 at 9:00 a.m.

Meetings
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    Board Meeting Highlights - March 20, 2023

  • What's new

    Deputy Chief Rouse Announces Retirement

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    A Path Forward: Report of the York Regional Police Services Board Anti-Black Racism and Building Community Trust Committee

  • What's New

    Appointment of New Deputy Chief

  • What's New

    Board Hires Subject-Matter Expert to Support its Anti-Black Racism and Building Community Trust Committee

  • What's New

    York Regional Police Inclusion Strategy

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Contact Information York Region Police Services Board
17250 Yonge Street
Newmarket, Ontario CAN
L3Y 6Z1

Toll Free: 1-877-464-9675 ext. 77906
Email: psb@yrp.ca

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