Peterborough County Approves 2025 Budget

Peterborough County Council has approved the 2025 Budget during Monday’s Council meeting.

Photo by David Tuan Bui.

The approved budget includes a 6.28 per cent tax rate increase (8.4 per cent tax levy increase) which reflects the County’s commitment to sustainable infrastructure and reducing dependency on reserve funding according to a press release.

Key highlights of the budget include:

• Dedicated Infrastructure Levy: A 2.5 per cent allocation specifically for infrastructure needs.

• Operational Sustainability: Elimination of reliance on reserved funding to support ongoing operations.

• Tax Rate Adjustment: A tax rate increase of 6.28 per cent, amounting to approximately $66.00 for the average assessed household.

“Peterborough County Council is tasked with balancing the need to invest in our communities with the rising cost of living for our ratepayers,” said Bonnie Clark, Peterborough County Warden. “This budget enables continued investment in services to meet the needs of our residents and townships, provides for much-needed maintenance on key infrastructure, while eliminating the draw on reserves for operating needs. The work does not end here. County Council, the Finance Committee, and staff will continue to find efficiencies and opportunities throughout the organization in the months ahead.”

Engage with us on social media on Twitter, Instagram, Facebook, Tiktok, Youtube and LinkedIn. Write to us at tips@ptbocanada.com. Sign up for our newsletter here.

Standard & Poor’s Maintains AA+ Credit Rating For City of Peterborough

Standard & Poor’s has maintained the City of Peterborough’s credit rating at “AA+” with a stable outlook in its recently released credit report on the municipality.

Standard & Poor’s is a financial services company that offers services including credit ratings, data analysis and equity research to both the private and public sectors worldwide. File Photo.

The report cites the City’s financial management practices and political and managerial commitment to disciplined fiscal policies.

“We expect the financial administration and council will keep political consensus to implement reforms and support fiscal sustainability in the future. This has been demonstrated by higher-than-historical tax levies to support a growth-oriented capital plan,” according to a statement made by Standard & Poor’s.

The ”AA+” rating is the second highest on Standard & Poor’s credit rating scale. 

They commented in its credit report that the City benefits from a diversified economy. It specifically cited an active tourism industry and growth in the manufacturing and aerospace sectors, which are fostering advancements in technology and creating jobs.

“We expect Peterborough's stable economy and prudent management will continue to support strong operating balances of 14.6 per cent of operating revenue, on average, from 2024-2026. While we expect significantly elevated capital spending on large projects will lead to high after-capital deficits in the short term, as the projects near completion, we expect deficits will decrease in 2025-2026,” stated the credit rating agency.

Standard & Poor’s commented that the local economy is “somewhat constrained” by an older population and that aging demographics could lead to greater spending on social services and budgetary pressures in the future.

Among the observations for the City of Peterborough’s strong credit rating, Standard & Poor’s has cited: 

• The City's exceptional liquidity position and supportive institutional framework continue to bolster its credit profile

• Peterborough demonstrates good financial management practices

• An extremely predictable and supportive local and regional government framework that has demonstrated high institutional stability and evidence of systemic extraordinary support in times of financial distress

• The City’s after-capital deficits will stay elevated in the short term, primarily driven by substantial spending on transportation projects and the new community complex

• The City’s debt burden will remain manageable and supported by robust liquidity

Engage with us on social media on Twitter, Instagram, Facebook, Tiktok, Youtube and LinkedIn. Write to us at tips@ptbocanada.com. Sign up for our newsletter here.

Rally Planned To Oppose 2025 Budget Cuts to Arts and Social Services

A coalition of activists, organizations and citizens will gather at Peterborough City Hall to rally against proposed budget cuts to social services and arts organizations in the 2025 budget on Tuesday afternoon.

File Photo.

The rally will begin at 4:30 p.m. at City Hall, with a lineup of speakers. It is organized by the Community Race Relations Committee of Peterborough, The Centre for Gender and Social Justice, OPIRG Peterborough, BLM Nogojiwanong and community members and will be followed by a community debrief session at Dreams of Beans.

The Centre for Gender & Social Justice released the following statement regarding the proposed budget cuts:

“These cuts would divert essential funds from community support services to increased policing costs, a shift that organizers say undermines the wellbeing of Peterborough’s most vulnerable residents and damages the network of grassroots organizations working to support them.

Peterborough’s city council recently proposed a budget that would cut funding to 75 social service and arts organizations by 25 per cent, including vital groups like the Kawartha Sexual Assault Centre, Community Race Relations Committee, and Peterborough Drug Strategy. These organizations provide critical support in crisis intervention, mental health, addiction counselling, and harm reduction. Many of these services fill gaps that policing does not address, using trauma-informed care, cultural sensitivity, and restorative justice to meet community needs and foster safety without punitive measures.”

The rally will feature speeches from leaders of affected organizations, local activists and community members who rely on these services. Poetry and storytelling highlighting the budget cuts’s impact of these cuts will be told during the rally.

The speaker list includes Sneha Wadhwani, local poet and activist; Bill Kimball, Public Energy Coordinator and Nico Koyanagi from OPIRG Peterborough.

These are the key messages of the rally according to a press release:

• Stop the Defunding of Social Services: The community urges council to protect funding for essential organizations that provide support, intervention, and resilience-building for those in need.

• Reject Police Budget Increases: With an 8.8 per cent increase in the police budget, including funding for new facilities and equipment, community members are concerned about prioritizing policing over proactive social services.

• Demand Transparent and Inclusive Budget Consultation: Only 227 residents participated in the budget consultation process. Organizers are calling for greater community engagement and transparency in future budgeting decisions.

Engage with us on social media on Twitter, Instagram, Facebook, Tiktok, Youtube and LinkedIn. Write to us at tips@ptbocanada.com. Sign up for our newsletter here.

City of Peterborough Posts 2025 Draft Budget For Public Review

The City of Peterborough’s Draft 2025 Budget has been posted ahead of a series of public meetings in November and December to be adopted on Dec. 9.

File Photo.

Council is expected to hear a brief presentation and receive the Draft 2025 Budget for information, with no discussion or debate on the topic, at its meeting that starts at 5:30 p.m. on Monday in the Council Chambers at City Hall. The meeting can be viewed live online.

The Draft 2025 Budget will be posted on the City’s website following Monday's presentation to Council. For information on the City of Peterborough budget, visit.

A public meeting will be held on Thursday from 6 p.m. to 7:30 p.m. in the Banquet Hall at Healthy Planet Arena. The meeting will include a brief presentation on the draft budget and an opportunity for residents to speak with city staff.

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 Nov. 12 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 the 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 at 6 p.m. on Nov. 12 in the Council Chambers at City Hall. Visit peterborough.ca/delegations or call 705-742-7777 ext. 1820 to register as a delegation.

Council will hear from certain local boards and agencies on their 2025 Budget requests to the City during a General Committee meeting at 3 p.m. on Nov. 12 in the Council Chambers at City Hall. The meeting is open to the public and can be watched online at peterborough.ca/WatchCouncil.

Council is expected to review, discuss and debate the Draft 2025 Budget during a General Committee meeting that will be held from 9 a.m. to 5 p.m. on Nov. 18 and 19 in the Council Chambers at City Hall. There are no public delegations during the General Committee meeting on Nov. 18 to 19. The meetings are open to the public and can be watched live.

Following Council’s review of the Draft 2025 Budget, the Mayor is expected to consider the recommendations from Council and table the Mayor’s 2025 Budget for the City of Peterborough at the Council meeting on Dec. 9. The City anticipates that the budget will be adopted on the same date. There is another opportunity for registered public delegations to speak at this meeting. To register as a delegation, visit peterborough.ca/delegations or call 705-742-7777 ext. 1820.

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

Engage with us on social media on Twitter, Instagram, Facebook, Tiktok, Youtube and LinkedIn. Write to us at tips@ptbocanada.com. Sign up for our newsletter here.

OLG Makes Fourth-Quarter Payment of Over $670,000 to The City of Peterborough

Ontario Lottery and Gaming Corporation (OLG) has made its fourth quarter payment of $678,417 to the City of Peterborough for hosting Shorelines Casino Peterborough, announced on Friday.

Since 1994, host communities have received more than $2 billion in non-tax gaming revenue. File Photo.

During OLG’s fiscal year (April 1, 2023 to March 31, 2024), Peterborough has received $2,973,019. Since the gaming site opened in October 2018, Peterborough has received $12,377,384.

These payments to the host communities are based on a formula consistently applied across all gaming sites in Ontario using a graduated scale of gaming revenue at the hosted site according to a press release.

“For decades, profits from gaming have been an important source of funding for Ontario communities, helping to deliver vital services and making a real difference for gaming host municipalities,” said Peter Bethlenfalvy, Minister of Finance. “This is one of the many different ways Ontario continues to create good-paying, local jobs that play a critical role in supporting our economy, while ensuring a socially responsible gaming environment for people to enjoy.”

Engage with us on social media on Twitter, Instagram, Facebook and Tiktok. Write to us at tips@ptbocanada.com. Sign up for PTBOBuzz newsletter here.

Fleming College Offering Free Tax Clinic For Eligible Residents During March

Fleming College is offering free tax clinics to any eligible persons this March.

Administered through a program with the Canada Revenue Agency, the community tax clinics are supervised by Accounting program instructors and organized with the help of Enactus Fleming College’s Keys to Me program. Photo courtesy of Fleming College.

The clinics are open to eligible community members and Fleming students. Accounting students provide the clinics as a hands-on learning experience in their chosen field.

Clinics take place each Monday from March 4 to April 1 from noon to 4 p.m. in the Kawartha Trades and Technology Centre at Fleming’s Sutherland Campus.

To be eligible for the free clinics, individuals must:

• Have an income of $35,000 or less for individuals

• Have a combined income of $45,000 or less for a couple

• Have a combined income of $47,500 or less for a family of three

• Have a combined income of $50,000 or less for a family of four

Students will not prepare returns for anyone self-employed, for those who have capital gains or losses, employment expenses or have filed for bankruptcy.

Eligible residents can make an appointment at the clinic by emailing taxclinic@flemingcollege.ca, or registering online. Walk-ins can also be accommodated depending on availability.

Free parking is available for residents travelling to the Sutherland Campus for the tax clinic. Fleming requests that anyone coming to email the clinic in advance with your licence plate information and date of arrival to qualify for the free parking.

Anyone attending the clinic is asked to bring the following information:

• Social Insurance Number

• T2202A Tuition Receipt (if applicable)

• Rent Receipts for rent paid in Ontario in 2023 (if applicable)

• Medical expense receipts

• T4 Statement of Income (provided by your employer if you worked in Canada in 2023)

• Any other tax related slips you may receive in the mail, like a T5 or a T3 slip (for investment income)

• International students and new Canadians filing a tax return for the first time will need to provide their date of arrival in Canada

Fleming also welcomes eligible residents to drop off their tax information.

Engage with us on social media on Twitter, Instagram, Facebook, Tiktok, Youtube and LinkedIn. Write to us at tips@ptbocanada.com. Sign up for our newsletter here.

Peterborough County Council Approves 2024 Budget

Peterborough County Council has approved the 2024 Budget entails a rise in the levy by 6.29 per cent during Wednesday’s meeting.

Photo courtesy of Peterborough County.

The budget changes include:

• a dedicated infrastructure levy set at 2.5 per cent

• an increase of 2.57 per cent for the Operating Budget

• and an increase of 1.22 per cent for the Shared Services Budget

This increase in the levy translates to a tax rate increase of 5.69 per cent or approximately $21.81 for every $100,000 in residential assessment.

“Peterborough County staff were tasked with presenting a budget that is both responsible and comprehensive, and they successfully fulfilled that mandate,” said Bonnie Clark, Peterborough County Warden. “This budget will enable the County to tackle both operational and capital infrastructure needs, all while managing the challenges of inflation and the cost of living that persistently affect our ratepayers as well as the County's operations, finances, and those of our service provider partners.”

Engage with us on social media on Twitter, Instagram, Facebook, Tiktok, Youtube and LinkedIn. Write to us at tips@ptbocanada.com. Sign up for our newsletter here.

Sonnet Insurance and Kawartha Credit Union Partner To Offer Home and Auto Insurance Coverage To Kawartha Members

Kawartha Credit Union (KCU) and Sonnet Insurance have teamed up to provide home and auto insurance for Kawartha’s members.

Photo courtesy of Kawartha Credit Union.

Sonnet is known as the country’s first coast-to-coast fully online home and auto insurance companies according to a press release.

It also states that members will have access to competitive prices including usage-based insurance options, valuable offers and potential savings of hundreds of dollars by bundling home and auto insurance, in addition to top-tier care from Sonnet’s fully licensed insurance advisors along the way.

“Kawartha Credit Union is committed to supporting our members with the best products, services, and advice to assist them in achieving their financial goals,” comments Norah McCarthy, KCU president and CEO. “Through this relationship with Sonnet, we are pleased to provide our members with access to savings on easy-tounderstand insurance options that help them get the coverage they need, with the exceptional service they are accustomed to receiving at Kawartha.”

“We are excited to team up with Kawartha Credit Union to offer their members reliable coverage to protect what matters most,” said Eric Marion, Sonnet VP of Group Insurance. “This relationship means we are well positioned to provide our secure, affordable, and easy online insurance experience to members.”

Engage with us on social media on Twitter, Instagram, Facebook, Tiktok, Youtube and LinkedIn. Write to us at tips@ptbocanada.com. Sign up for our newsletter here.

City of Peterborough Maintains AA+ Credit Rating

Standard & Poor’s has maintained the City of Peterborough’s credit rating at “AA+” in its recently released credit report on the municipality, reported on Thursday.

Standard & Poor’s is a financial services company that offers services including credit ratings, data analysis and equity research to both the private and public sectors worldwide. File Photo.

The report cited the City’s ‘political and managerial commitment to disciplined fiscal policies’ as the reasoning for its rating.

‘AA+’ is the second highest rating on Standard & Poor’s credit rating scale.

Standard & Poor’s pointed to the strong support by the federal government and the Province for municipalities and the City’s financial management.

“The stable outlook reflects S&P Global Ratings' expectation that, in the next two years, Peterborough will sustain healthy operating surpluses. Although we expect temporarily higher after-capital deficits during this time as the city proceeds with its large capital plan, we expect they will stay below 5% of total revenues, on average, from 2021-2025. In addition, we expect increased additional borrowing to support the capital plan but that the city's tax-supported debt will remain below 65 per cent of operating revenue over the forecast horizon,” states Standard & Poor’s.

Among the observations for the City of Peterborough’s credit rating, Standard & Poor’s has cited:

• The City's exceptional liquidity position and supportive institutional framework continue to bolster its credit profile

• The City’s political and managerial commitment to disciplined fiscal policies

• An extremely predictable and supportive local and regional government framework that has demonstrated high institutional stability and evidence of systemic extraordinary support in times of financial distress

• Municipalities have demonstrated a track record of strong budget results with debt burdens, on average, low compared with those of global peers and growth over time has been modest

• Projection that the City’s capital spending will increase in the next several years, with after-capital deficits widening to an average of 4.7 per cent of total revenues in 2021-2025

Engage with us on social media on Twitter, Instagram, Facebook, Tiktok, Youtube and LinkedIn. Write to us at tips@ptbocanada.com. Sign up for our newsletter here.

City of Peterborough Posting 2024 Budget For Review Ahead of Several Public Meetings

The City of Peterborough’s Draft 2024 Budget will be posted for public review next week Monday before a series of public meetings in the next two months, announced on Monday.

Photo by Keegan Beekers.

City Council will consider approving the financial plan on Dec. 11.

Council is expected to hear a brief presentation and receive the Draft Budget for information, with no discussion or debate on the topic at its meeting on Monday, Nov. 6.

Residents can speak with City staff from 6 p.m. to 7:30 p.m. on Nov. 9 at the McDonnel Street Community Centre at 577 McDonnel St.

An informal drop-in opportunity to speak with City staff and the Finance Committee Chair and Vice-Chair about the Draft 2024 Budget is being held from 4:45 p.m. to 5:45 p.m. on Nov. 14 in the main foyer of City Hall, 500 George St. N.

A formal meeting of City Council’s Finance Committee will be held starting at 6 p.m. on Nov. 14 in the Council Chambers at City Hall for Council to hear from registered public delegations on the Draft 2024 Budget. Visit peterborough.ca/delegations or call 705-742-7777 ext. 1820 to register as a delegation.

Council will hear from specific local boards and agencies on their 2024 Budget requests to the City during a Finance Committee meeting on Nov. 15.

Council will hold a series of Finance Committee meetings scheduled for Nov. 20 to 23 to review, discuss and debate the contents of the Draft 2024 Budget according to a press release. There are no public delegations during the Finance Committee meetings November 20 to 23. The meetings are open to the public and can be watched live.

Council is anticipated to consider approving the City’s 2024 Budget at its meeting on Dec.11. There is another opportunity for registered public delegations to speak at this meeting. To register as a delegation, visit peterborough.ca/delegations or call 705-742-7777 ext. 1820.

The City started the 2024 Budget process in March with community consultation, including a survey and public meetings. Council held Finance Committee meetings in May and June to review information and consider input from the community. In August, Council held meetings to hear detailed breakdowns of budget implications for services and capital projects before setting a guideline for putting together the Draft 2024 Budget.

Upcoming public meetings on the Draft 2024 Budget:

• Presentation of Draft 2024 Budget, Finance Committee meeting, no public delegations, on Nov. 6, at City Hall, 500 George St. N.

• Public meeting, brief presentation and opportunity to ask questions, 6 p.m. to 7:30 p.m., Nov. 9, at McDonnel Street Community Centre, 577 McDonnel St.

• Informal drop-in opportunity, 4:45 p.m. to 5:45 p.m., Tuesday, November 14, in the main foyer, at City Hall, 500 George St. N.

• Finance Committee meeting, registered delegations presenting to Council, starting at 6 p.m., Nov. 14, at City Hall, 500 George St. N.

• Finance Committee meetings, presentations from invited local boards and agencies, no public delegations, Nov.14, at City Hall, 500 George St. N.

• Finance Committee review, discussion and debate on the Draft 2024 Budget, no public delegations, scheduled for November 20 to 23, 2023, at City Hall, 500 George St. N.

• City Council considers approval of 2024 Budget, registered delegations can present to Council, Dec. 11.

Engage with us on social media on Twitter, Instagram, Facebook, Tiktok, Youtube and LinkedIn. Write to us at tips@ptbocanada.com. Sign up for our newsletter here.