The Financial Services division fulfills the statutory duties of the Treasurer; provides financial advice to Council and other Departments; provides accounting, payroll, accounts payable, accounts receivable and collections services for all Departments; administers the property taxation revenue function; coordinates and prepares the Corporation’s operating and capital budget and manages the annual financial audit with external auditors and the preparation of the annual financial statements; completes the annual financial reporting with the province.

The Corporate Sponsorship program works to leverage investments in services and assets to generate alternative sources of revenue for the City, where there is a good fit for the City and its partners.

Highlights

Financial Services

The 2025 budget includes approved salary, and benefit increases and a decrease in costs for 3 staff moved to Service Peterborough for a full year.

The Financial Services Division has requested a new staff position not included in the budget. This request can be found in Section 4 Staffing Requests not included in the Draft 2025 Budget.

Corporate Sponsorship

Sponsorship program revenues are expected to grow again in 2025 with new revenue of more than $200,000 allocated to the Miskin Law Community Complex capital budget. Continued growth in the City’s Transit Sponsorship revenue is driven by sales in Transit Shelter advertising, and implementation of administrative processes to manage Transit Sponsorship sales and asset inventories. Potential exists for additional sponsorship revenues as the City finalizes plans for redevelopment of recreational facilities at Bonnerworth Park and Knights of Columbus Park, however these have not been included in the 2025 budget.

Interactive Budget

Explore the City's budget using the interactive OpenBook feature, including expenses by department and division as well as a breakdown of what a typical residential property taxpayer pays per $100,000 of assessment.

The full budget information is available in the Draft 2025 Budget book.

The OpenBook budget tool enhances the transparency of the City's Budget by allowing us to share financial information visually in accessible and easy to understand formats. View our budget data using charts, tables, and graphs. We hope you find this helpful.

Through our OpenBook reports, you can start at the organizational level then click on a department to go down to the division/section/service level as you explore the financial information for the City. Flip between charts, tables and graphs to display the data in a way that visualizes the information based on your preference.

In OpenBook tables, all column headers labeled as "Current Year" refer to 2025; "Previous Year" refers to 2024.

Please note: The 2025 Budget is the first year that the City has used this budget tool to enhance how it shares information with residents. We're learning how to use the new platform and will be adding features and reports as we explore the tool's capabilities.

OpenBook budget tool