Draft 2025 Budget presentation

Peterborough, ON – City Council received for information the City of Peterborough Draft 2025 Budget during its General Committee meeting on Monday, November 4, 2024 ahead of a series of public meetings that will be held in November and December before the expected adoption of the 2025 Budget on December 9, 2024.

Draft 2025 Budget information is posted at peterborough.ca/Budget, including a new interactive tool, OpenBook, to provide new ways for residents to view City budget information through tables, charts and graphs.

A public meeting with a brief presentation on the Draft Budget followed by an opportunity for residents to speak with City staff will be held from 6 p.m. to 7:30 p.m. on Thursday, November 7, 2024 in the multi-purpose room at the Healthy Planet Arena, 911 Monaghan Rd.

There will be an informal drop-in opportunity to speak with City staff about the Draft 2025 Budget from 5 p.m. to 6 p.m. on Tuesday, November 12, 2024 in the main foyer of City Hall, 500 George St. N. There will not be a staff presentation at this session. It is an opportunity to drop in to speak with the City’s budget team in an informal setting to ask questions and share comments ahead of the formal meeting of City Council’s General Committee later that evening.

Residents can register to speak to Council about the Draft 2025 Budget during Council’s General Committee meeting that will start at 6 p.m. on Tuesday, November 12, 2024 in the Council Chambers at City Hall. Visit peterborough.ca/delegations or call 705-742-7777 ext. 1820 to register as a delegation. The meeting can be watched online at peterborough.ca/WatchCouncil.

Council will hear from certain local boards and agencies on their 2025 Budget requests to the City during a General Committee meeting that starts at 3 p.m. on Tuesday, November 12, 2024 in the Council Chambers at City Hall.

Council is expected to review, discuss and debate the contents of the Draft 2025 Budget during a General Committee meeting that will be held from 9 a.m. to 5 p.m. on Monday, November 18 and Tuesday, November 19, 2024 in the Council Chambers at City Hall. There are no public delegations during the General Committee meeting on November 18 and 19. The meetings are open to the public to attend and can be watched live at peterborough.ca/WatchCouncil.

The Draft 2025 Budget outlines the City’s plan for investments in services and infrastructure next year.

To generally maintain current levels of service and fund infrastructure projects, the Draft 2025 Budget includes a recommended all-inclusive rate increase of 7.8%. To meet Council’s direction of a 5% all-inclusive rate increase, staff have identified discretionary spending areas across various services for Council’s consideration.

A 7.8% increase would equal a $12.13-per-month increase for every $100,000 of property assessment, or $145.56 total change for the year.

Factors affecting the Draft 2025 Budget include impacts such as staffing costs, inflationary factors, capital financing expenses, and a projected decrease in parking revenues.

Staffing costs to support the provision of municipal services would account for a little less than 30% of the City’s total budget in 2025.

With the decision to bring services in-house that are currently provided by outside agencies, including Information Technology services, Water services, the Riverview Park & Zoo, and economic development activities, the City will add positions in 2025. Bringing services in-house is a substantial factor in the 16.89% increase in staffing over the 2024 levels. The impact of the positions transferred in, as well as the requested full-time and contract positions, is largely mitigated by water revenues, the reduction in Peterborough and the Kawarthas Economic Development funding, Municipal Accommodation Tax, and recoveries from capital.

The Draft 2025 Budget includes $411 million in operating expenses, with $185.9 million from property taxes and the remainder funded by other revenues such as grants from other governments, user fees, and service charges.

On the capital side, the Draft 2025 Budget includes $147.4 million for 174 projects such as the Transit Garage Replacement, renovations for police stations, major infrastructure work on Brealey Drive between Lansdowne and Sherbrooke streets, updating and replacing equipment at the Wastewater Treatment Plant, and various road projects.

The City started the 2025 Budget process in March 2024 with community consultation, including a survey and public meetings that were held through March and April. Council held General Committee meetings in June to review information and consider input from the community. Council considered detailed breakdowns of budget implications for services and capital projects before recommending guidelines for preparing the Draft 2025 Budget.

Upcoming public meetings on the Draft 2025 Budget

Public meeting, brief presentation and opportunity to ask questions, 6 p.m. to 7:30 p.m., Thursday, November 7, 2024, in the multi-purpose room, Healthy Planet Arena, 911 Monaghan Rd.
General Committee meeting, presentations from invited local boards and agencies, no public delegations, starting at 3 p.m., Tuesday, November 12, at City Hall, 500 George St. N.
Informal drop-in opportunity (no presentation), 5 p.m. to 6 p.m., Tuesday, November 12, in the main foyer, at City Hall, 500 George St. N.
General Committee meeting, registered delegations presenting to Council, starting at 6 p.m., Tuesday, November 12, at City Hall, 500 George St. N.
General Committee review, discussion and debate on the Draft 2025 Budget, no public delegations, scheduled for 9 a.m. to 5 p.m., November 18 and 19, 2024, at City Hall, 500 George St. N.
Mayor tables the Mayor’s 2025 Budget for the City of Peterborough, anticipated adoption of the budget, registered delegations can present to Council, Monday, December 9, 2024.

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