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OLG Makes First-Quarter Payment of Over $780,000 to The City of Peterborough
/Ontario Lottery and Gaming Corporation (OLG) has made its first quarter payment of $789,929 to the City of Peterborough for hosting Shorelines Casino Peterborough, announced on Wednesday.
Since 1994, host communities have received more than $2 billion in non-tax gaming revenue. File Photo.
The first quarter ran from April 1 to June 30. Peterborough has received $10,194,294 since the Shorelines opened in October 2018.
These payments to 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 as stated in a press release.
“Host communities support important community programs and services and strengthen their local infrastructure with these gaming revenues,” said Peter Bethlenfalvy, minister of finance. “These financial supports help fund the vital programs and services that residents can depend on for their future.”
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Kawartha Credit Union Awarded Living Wage Employer Certification
/It’s happy days for Kawartha Credit Union as they received the Living Wage Employer certification from the Ontario Living Wage Network (OLWN) last month, announced on Thursday.
There are over 600 certified living wage employers across the province. Photo courtesy of Kawartha Credit Union.
The living wage reflects an income that a worker must bring home to meet their basic living needs and participate more fully in life, work, and community according to OWLN. Local expenses, such as housing costs, childcare, transportation and food are factored in.
“The Ontario Living Wage Network is pleased to welcome Kawartha Credit Union to the list of over 600 certified living wage employers in Ontario,” said Craig Pickthorne, OLWN communications coordinator. “It is fantastic to see employers implement changes to ensure that their employees are earning a steady and reliable living wage. Paying a living wage is a tremendous expression of respect for individual workers, their families and the communities where they live."
The OLWN is a network of employers, employees, non-profits, researchers and proponents of decent work standards for all Ontario workers. They conduct standardized, peer-reviewed living wage calculations annually for the province and showcase the growing wave of living wage initiatives in Ontario according to a press release.
“Being recognized as a Living Wage Employer is a big accomplishment for Kawartha and our 340 employees,” said Norah McCarthy, KCU president and CEO. “We are proud that we have this designation as it supports our commitment to be socially responsible and demonstrates that we treat our employees with respect, care and have their best interests at heart.”
“Becoming a Living Wage Employer aligns well with our values, culture and purpose,” said Nancy Herr, KCU chair. “Our employees are critical in helping us achieve our purpose of supporting the financial success and well-being of our members and our communities. Being a Living Wage Employer will also help us support our employees’ financial well-being now and in the future.”
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City of Peterborough Updated Landfill Fees Effective April 1
/Landfill fees will be changing for some types and quantities of materials effective April 1, 2023 through fees approved through the City’s 2023 Budget in January 2023.
photo courtesy of the city of peterborough.
Beginning April 1, vehicles that leave the landfill property without weighing out will be subject to a fine of $125.
For the full list of updated prices, click here.
Household hazardous waste items, such as televisions, electronic devices, paint and batteries can be taken to the Household Hazardous Waste Depot at 400 Pido Rd.
The landfill, which is called the Peterborough Waste Management Facility, is located at 1260 Bensfort Rd. in Otonabee-South Monaghan Township, south of Peterborough. More information on the landfill, including operating hours, is available at peterborough.ca/landfill.
City of Peterborough Holding Public Meeting To Hear Delegations On the Draft 2023 Budget
/A public meeting for delegations to City Council on the City of Peterborough’s Draft 2023 Budget will be held starting at 6 p.m. on Monday ahead of Council’s review of the budget documents.
It is occuring during a series of Finance Committee meetings from Jan. 16 to 19 announced on Wednesday.
File Photo.
To register as a delegation for the meeting, please use the online form at peterborough.ca/delegation or call the City Clerk’s Office at 705-742-7777 ext. 1820. Delegates must be registered by 11 a.m. on Monday to speak at the public meeting. The meeting will be live streamed at peterborough.ca/WatchCouncil.
The Draft 2023 Budget is available at peterborough.ca/budget.
Council received a presentation on the Draft 2023 Budget at its meeting on Dec. 5.
Council is expected to consider approving the City’s 2023 Budget at its meeting on Jan. 30.
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 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 per cent 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 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
Dec. 5, 2022 – Council receives Draft 2023 Budget documents and Draft Budget is posted for public review
Jan. 9, 2023 – Public meeting on Draft 2023 Budget
Jan. 10, 2023 – External agencies present at Finance Committee meeting
Jan. 16-19, 2023 – Finance Committee meetings to review Draft 2023 Budget
Jan. 30, 2023 – Council considers approving 2023 Budget
The City of Peterborough Maintains ‘AA+’ Credit Rating
/The City of Peterborough has maintained an ‘AA+’ credit rating, citing the City’s “political and managerial commitment to disciplined fiscal policies” in its recently released Standard and Poor credit report announced Thursday.
File Photo.
The ‘AA+’ rating is the second highest rating on the financial services company’s credit rating scale.
“Despite the current macroeconomic headwinds, we believe the City’s stable tax base will help Peterborough to maintain healthy budgetary performance,” says Standard and Poor, referencing the international and national economic conditions in a statement.
They referenced the City’s ability to internally finance most of its capital plan and use moderate debt issuance to fund the remainder.
Among the reasons and expectations for the City of Peterborough’s strong credit rating, Standard and Poor’s has cited:
Satisfactory financial management practices
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 will continue posting modest after-capital deficits of about 1.5 per cent of total revenues, on average, in 2020-2024
Liquidity will be a key strength.
