The City of Peterborough’s Draft 2025 Budget was presented to City Council on Monday for review ahead of a series of public meetings. These meetings will take place in November and December, with the final budget expected to be adopted on December 9th.
The Draft Budget introduces a new interactive tool, OpenBook, allowing residents to explore the budget through tables, charts, and graphs.
A public meeting with a presentation on the budget will be held tomorrow from 6 p.m. to 7:30 p.m. at the Healthy Planet Arena, with a chance for residents to speak with City staff. Another informal drop-in session, without a presentation, will take place on Tuesday, from 5 p.m. to 6 p.m. at City Hall.
Later on November 12th, residents can also register to present to Council during the General Committee meeting at 6 p.m. in Council Chambers. Those interested in speaking must register in advance by visiting peterborough.ca/delegations or calling 705-742-7777 ext. 1820.
Council will review and discuss the Draft Budget in detail during meetings on November 18th and 19th, from 9 a.m. to 5 p.m., with no public delegations during these sessions.
The Draft 2025 Budget includes $411 million in operating expenses, with $147.4 million allocated for 174 capital projects, including road upgrades and infrastructure improvements. A proposed 7.8% rate increase is suggested, translating to a $12.13 monthly increase for every $100,000 in property assessment. However, to meet Council’s goal of a 5% all-inclusive rate increase, staff have identified discretionary spending areas across various services for Council’s consideration.
For more information on the Draft 2025 Budget, visit peterborough.ca/Budget.
(Written by: Scott Arnold)
