Municipal Accounting & Finance Program

The Municipal Accounting and Finance Program (MAFP) provides foundational knowledge in how municipalities generate revenues, and how they plan, manage, and report their finances. Municipal finance is heavily regulated and subject to complicated accountability measures. The program introduces these legal requirements as well as a wide range of accounting and finance concepts on a basic level.

MAFP is a certificate program that can be taken on its own or as part of our Diploma in Municipal Administration (DMA).

Each unit (course) in the program has assignments that involve reading, research, writing, and application. If you work full-time, taking one unit at a time is strongly recommended.

Program Overview

Unit 1: Introduction to Municipal Accounting and Financial Reporting
Unit 2: Integrated Financial Planning

If you have little to no accounting or finance experience, by taking this program, you will gain confidence in your ability to collaborate with finance staff and come away with the foundational knowledge of how Ontario municipalities manage their finances. You will also be able to recognize and identify basic components of key financial documents and municipal financial legislation in Ontario.

If you already work in a municipal accounting or finance role, this program is the perfect way to strengthen your foundational knowledge and gain further insight into practices and experiences in other Ontario municipalities.

If you are an accounting or finance professional new to the municipal sector, this program will help you understand the municipal context and the unique rules and regulations that govern municipal financial operations.

Note: MAFP is not a technical program — it can complement technical accounting and financial training, but it is not sufficient on its own to train you to become a municipal treasurer or accountant.

Course Descriptions & Outlines

MAFP Unit 1: Introduction to Municipal Accounting and Financial Reporting

Unit 1 introduces the basics of accounting and financial reporting requirements for Ontario municipalities, and how they generate revenues and account for expenses. This includes an exploration of legislative requirements, Public Sector Accounting Standards, the property taxation system, tangible capital assets, and various types of financial reports. MAFP Unit 1 Course Outline (PDF) MAFP Unit 2: Integrated Financial Planning

Unit 2 explores planning, strategy, and policy in Ontario municipal finance, with a focus on how financial planning ties to budgeting, asset management, treasury management, and growth management. Although municipalities each have their own unique approaches to financial planning, the unit introduces current and emerging best practices. MAFP Unit 2 Course Outline (PDF) Note: Taking one unit at a time is strongly recommended if you work full-time. Taking the units in order is also recommended, but not required.

Program Format

MAFP can be taken in either correspondence or Zoom format. (See the Education Programs page for differences between the two formats).

Completion Requirements

Each of the two units has its own reading, assignment, quiz, and discussion requirements. A minimum grade of 51% on the final assignment and a minimum overall course grade of 60% are required to pass each unit. A MAFP certificate will be awarded upon successful completion of both units, which must be completed within two years.

Tuition Fees

Correspondence format: $405.00 +HST per unit
Zoom format: $495.00 +HST per unit

All course materials are included in the tuition fees. The textbook is provided to all registrants as a PDF document in our online learning platform, AMCTO Connect. A hard copy of the textbook can be purchased for an additional $45.00 +HST when you register for the course.

MAFP is one of the programs that we offer under the status of a Certified Educational Institution. Tuition fees for this program are tax-deductible. However, textbook fees are not.

Cancellation & Refund Policy

For correspondence format, a refund levy of $100.00 +HST per unit will be applied to cancellations received prior to the first scheduled assignment due date. No refunds will be granted for cancellations received after the first assignment due date.
For Zoom format, a refund levy of $100.00 +HST per unit will be applied to cancellations received up to two weeks (14 days) prior to the first Zoom class. No refunds will be granted for cancellations received within 13 days or less of the first Zoom class.

Registrations and payments cannot be transferred to a later date. There are no refunds for the hard copy textbook and returns are not accepted.

Unit Exemption or Challenge

You are enrolled in the AMCTO Diploma in Municipal Administration (DMA) program; and

You completed an equivalent academic course in Ontario that meets the criteria under section 5(b) of the DMA Terms of Reference; or
You have a CPA designation and your work experience meets the criteria under section 5(g) of the DMA Terms of Reference.

If the above does not apply, but you have a minimum of five years of relevant Ontario municipal experience in a senior supervisory role, you may be eligible to apply to challenge a unit instead of taking the full course. Approved applicants are required to submit a paper and write an exam for each unit being challenged. A minimum grade of 70% must be attained to gain credit for the unit.

The fee to challenge a unit is $260.00 +HST.