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.
Peterborough Blogs
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.”
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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.
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.”
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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.”
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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
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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.
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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.
