Draft 2023 Budget presentation

Peterborough, ON - The City of Peterborough’s Draft 2023 Budget has been posted at peterborough.ca/budget for public review ahead of City Council’s budget deliberations in January 2023.

Council received a presentation on the Draft 2023 Budget at its meeting on Monday, December 5, 2022.

Council will hold a public meeting to hear from the community on the Draft 2023 Budget on Monday, January 9, 2023 before holding its budget deliberations on January 16 to 19, 2023.

Council is expected to consider approving the City’s 2023 Budget at its meeting on January 30, 2023.

For information on how to register as a delegation at a Council meeting, please visit peterborough.ca/delegation or call the City Clerk’s Office at 705-742-7777 ext. 1820.

The Draft Operating Budget includes $326.6 million for programs and services, such as waste management, road maintenance, wastewater sewers and treatment, social assistance, affordable housing, recreation, arts and heritage, fire services, and policing.

The 2023 budget was developed with assumptions about current economic forecasts from the banking and business sectors and inflationary pressures. The best information available at the time was used as the basis; however there are elements of the budget that contain an elevated level of risk related to the projections.

The Draft Capital Budget includes $131.2 million for various infrastructure and capital projects such as road work, a household organic waste composting facility and collection equipment, flood reduction efforts, facility maintenance, funding for the planned replacement of a fire station, sanitary sewer repairs, construction of a new twin-pad arena, and police capital projects.

The Draft 2023 Budget includes a proposed 4% increase in the all-inclusive property tax rate. The proposed increase would equate to an additional $5.63 monthly or an additional $67.61 annually per $100,000 of residential assessment.

Council approved the guidelines for creating the Draft 2023 Budget at its meeting on July 25, 2022 following a series of community consultation meetings, a survey, a public budget meeting, and a Council meeting when residents could present to Council on the budget guidelines. A What We Heard document that summarizes the survey submissions is available on Connect Peterborough, the City’s online community engagement hub, at connectptbo.ca/2023Budget.

2023 Budget process

March 17, 2022 – 2023 Budget survey opens

March-April 2022 – A series of five drop-in style consultation meetings

April 29, 2022 – 2023 Budget survey closes

June 22, 2022 – Public meeting on draft budget guidelines

July 25, 2022 – Council approves guidelines for creation of the Draft 2023 Budget

December 5, 2022 – Council receives Draft 2023 Budget documents and Draft Budget is posted for public review

January 9, 2023 – Public meeting on Draft 2023 Budget

January 10, 2023 - Finance Committee meeting to receive presentations from Local Board and Agencies

January 16-19, 2023 – Finance Committee meetings to review Draft 2023 Budget

January 30, 2023 – Council considers approving 2023 Budget

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