Peterborough Airport continues to be an economic driver and contributor to employment for the region serving various sectors of the aerospace industry. The airport's 7000-foot-long runway and supporting infrastructure has been designed to accommodate Boeing 737 series aircraft. Home to over 20 businesses, the Airport provides direct employment to approximately 500 people. Seneca College's School of Aviation is based at the airport, supporting up to three semesters of students. Aircraft movements are approximately 45,000 to 50,000 per year.

The Manager of Airport Administration leads airport development and construction activities, on-going business development, tenant relations, and administrative and financial management functions including overseeing contracted services for airport operations. Loomex Property Management has completed year twelve of a fourteen-year Airport Management and Operations contract. There is one remaining three-year extension option, which could extend the contract through to 2029.

Highlights

In 2022, a new Airport Master Plan was approved in principle by council through report IPSAIR22-006. This plan represents the blueprint for medium to long-term development to 2037 by guiding future expansion at Peterborough Airport.

The 2025 operating budget reflects an increase in day-to-day costs due to utilities, insurance, and contractual services as to the Airport Management and Operations contract. Property taxes are paid to Cavan Monaghan Township and recovered from airport tenants. 

In 2025, Peterborough Airport remains focused on strategically positioning the airport as a regional asset to fully realize and exploit future growth potential as an economic catalyst in a growing region. The airport will continue to foster organic growth of local business, general aviation, and the destination charter program. Key objectives are concentrated on driving business development, improving efficiency and sustainability of operations, and adapting to the changing the needs of our community and stakeholders. Any remaining development review fees are transferred to a reserve to be used for future airport development related expenditures.

An annual contribution to the Airport Development Debt Servicing Reserve of $1.070 million is necessary to fund the City's share of the ISF Airport Expansion Capital Project. The dedicated Pavement Reserve contribution of $50,000 will support continued maintenance of the asphalt surfaces.

Recommendation

That any excess Airport development review fees at the end of 2025 be transferred to the Airport Development Review Reserve for future Airport Development related expenditures and that, if the 2025 Airport development review costs exceed the review fees, funds may be drawn from the Airport Development Review Reserve.

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