City Council to Determine Approval of 2025 Budget On Monday's Meeting
/City Council will consider approving the City's 2025 Budget, which outlines investments in municipal services and infrastructure, during its meeting that starts at 6 p.m. on Monday.
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The budget has a 6.72 per cent all-inclusive rate increase that equates to $10.44 per month per $100,000 of property assessment for the typical residential property,
Through its budget deliberations in November, the City of Peterborough reports that Council cut spending in several areas and added back in funding that had been removed earlier in the budget process to reduce the property tax requirement. Council started with a 7.8 per cent all-inclusive rate increase when the draft budget was initially presented.
To reduce the tax requirement for residents and businesses, Council asked the Peterborough County/City Paramedics and Peterborough Police Services Board to reduce their requested increases for 2025. Peterborough Paramedics reduced its funding request to $7,299,067, an increase of $488,270, or 7.2 per cent from 2024. Peterborough Police Services Board responded with a request for $37,802,241, an increase of $2,727,054, or 7.8 per cent, from 2024 – after initially requesting an 8.8 per cent increase.
Council made many changes to the City’s Draft 2025 Budget to reduce the property tax requirement by decreasing spending, increasing revenue and drawing from reserve funds.
Among the changes to the draft budget Council:
Restoring $298,153 for Community Grants that had been cut from the draft budget
Adding a $500,000 interest-free loan for the replacement of the roof at Showplace Performance Centre
Reducing the proposed 2025 stormwater management funding by $620,000
Providing $250,000 from the Social Services Reserve to help fund architectural, engineering and planning services for the proposed new Brock Mission Housing Project that would create 50 transitional housing units
Drawing $904,000 from the Social Services Reserve for several housing and homelessness services enhancements, including extending the Trinity Community Centre overnight drop-in program to a full-year service, increasing funding to the Housing Stability Fund, and increasing the capacity of the Brock Mission shelter to 40 beds from 32 beds
Restoring funding for discretionary benefits, which had been proposed to be reduced, at a cost of $235,695
Reducing preventative maintenance at municipal facilities for a savings of $153,000
Ending the lifeguard service for swimming at Roger’s Cove for a savings of $39,995 (lifeguard service continues to be provided at the nearby Beavermead Park beach)
Ending the maintenance of the Trent-Severn Waterway canal south of the Lift Lock in winter for skating for a savings of $100,000
Reinstating a $150,000 annual payment to the Downtown Business Improvement Area that had been proposed to be removed
Removing a $132,500 expense for contracting streetscape maintenance services to the Downtown Business Improvement Area as the City will directly provide the service in 2025
Reducing spending on graffiti management, forestry contractual services, and street cleaning totalling $60,000
Reducing Transit expenses for cleaning supplies and contractual services by $75,000
Reducing the budget provision for insurance premiums by $115,000
Through its 2025 Budget, Council has endorsed transitioning stormwater funding from the tax base to a dedicated user fee effective April 1, using a simplified interim rate structure. The proposed user fee will replace what is being paid by property owners through the property tax base and place a charge, or a user fee, on the utility bill. Unlike many municipalities with dedicated stormwater networks and raise the necessary funding through a user fee, the City of Peterborough currently funds the program through the tax base.
The City says benefits to implementing a Stormwater Management Fee include:
Dedicating a funding stream allocated back to providing the service
Awareness and transparency showing owners what they pay for the service and what is required for capital and operating costs
Fairness where owners may pay based on stormwater contribution as opposed to property assessment
Introducing the opportunity for economic incentives, giving owners the opportunity to reduce their costs associated with delivering the service
