A fun question for all mayors and city council members: just how committed are you to transparency in governance?

Probably many—most?—all?—of you said, "Definitely. For sure. Oui. Yup."

And I'm sure you believe that the public is rightfully owed full transparency in their local governments.

Now. Here's the second shoe dropping: Would you still feel the same way if it was demanded of your candidacy to run for office at city hall that you must file a full financial statement of all your personal assets, investments, and liabilities?

In cruder terms, having to stand financially naked in front of your community.

That is the situation that locally elected officials across Florida have had to confront. A new law passed by the ever-inventive Florida legislature, which has rarely missed an opportunity to slap around their municipal colleagues, demanded that as of January 1, 2024, municipal elected officials had to file a financial statement.

The result was a long series of resignations. (Perhaps this was an unintended consequence; perhaps it was indifference to the feelings of municipal officials). One city had to orchestrate the resignations so at least a quorum remained at the meeting to appoint new councillors before the retiring ones exited. In another city, four out of the five elected representatives chose to step down rather than reveal their financial positions.

The issue is an intensely personal one for many families. If they have a lot of financial assets, do they become more vulnerable to scammers, charities, 'good causes', thieves, and so on? If they have few assets, does that make them less respected or trusted in the community?

(As an aside, it will be very interesting to see what if any impact the recent and upcoming court decisions concerning Donald Trump may have on his base if his financial disclosures show him to be less wealthy than his bombast has claimed ).

Canadians have always understood that the Prime Minister and cabinet members have a duty to disclose their finances, as do similar provincial officials. This is usually done in a confidential detailed filing and only the summary is reported out; some office holders also utilize a blind trust where they turn over their assets to a trusted friend or financial advisor, but they have no say in its operation. The regulations in Canada are complex.

However, Canadian municipal officials have generally been exempted from such requirements. It would be a very interesting debate for council members to have about what they would do if a regulation demanding personal financial disclosure was suddenly imposed.