WINDSOR, ONT. -- The City of Windsor has been given an "F" when it comes to financial transparency.

The report card published by the CD Howe Institute, gives both Windsor and London a failing grade when it comes to how clear the municipalities financial reports are.

The report points to a number of problems in Windsor, including a budget that was approved 13 weeks into the fiscal year.

The city's chief administrative officer Onorio Colucci is responding with disdain, saying the city is as transparent as any municipality.

Colucci says he places no weight on the findings of this report.