After three nights of putting the 2023 budget under the microscope, Peterborough city councillors have lowered the expected all-inclusive tax increase.
The Draft 2023 Budget tax requirement has been reduced to a 3.15 per cent, which would equate to an additional $4.44 monthly or an additional $53.24 annually per $100,000 of residential assessment.
Originally, the target set by staff was 4 per cent.
Some of the changes Council made to the Draft 2023 Budget include:
-Deferring a $140,900 contribution to the Eastern Ontario Regional Network cell gap initiative;
-Deferring an $800,000 project to upgrade water and sewer service to the Peterborough Airport until a land deal is reached to bring the airport property within the City of Peterborough boundaries;
-Holding Peterborough Transit expenses at the 2022 level, which would reduce the 2023 net requirement by $951,000;
-Establishing a permanent, annual individual artist grant program at $50,000 a year, through a three-year agreement with Electric City Culture Council with funding from the capital budget in 2023 and the program built into the operating budget in 2024 and 2025;
-Deferring, until consideration in the 2024 Budget, a proposed $150,000 project for the next stage of the development of a Downtown Heritage Conservation District Plan;
-Contributing up to $10,000 from the Capital Levy Reserve for the creation of a monument recognizing the impact of occupational disease on individuals and families;
-Removing a plan to provide $55,000 a year to the Downtown Business Improvement Area (DBIA) for three years to support a new Systems Navigator staff position with the DBIA to help downtown businesses navigating social issues; and
-Using $200,000 from the Social Services Reserve to add a third worker at the overflow shelter program and Brock Mission to help individuals with better support for referrals to services and to assist with housing searches, develop more of a harm-reduction focus, address service restrictions differently, and other functions.
The Draft Operating Budget includes approximately $326.6 million for programs and services, while the Draft Capital includes approximately $131.2 million for various infrastructure and capital projects.
City Council will consider approving the City’s 2023 Budget on January 30th.
(Written by: Jordan Mercier)
