Not the full picture. Built from public records, which leave things out.Read by hand, Oct 2026DetailsThis is built from public records, which leave a lot out, and some of it may be wrong or out of date. Check the sources, and tell us if you spot a mistake. What this site can't tell you Read by hand. We read Niagara Falls's own documents for this site in October 2026; the Sources page lists which ones. The comparisons with other places still come from the Province's yearly reports.
Questions · 11 so far
Things worth asking about
We read Niagara Falls' financial reports and meeting minutes, and compared its numbers with 10 similar Ontario places. These are the things that stood out.
What these are, and what they are not. A question here means a number or practice is unusual, or harder to see than it should be. It does not mean anyone did anything wrong. Most unusual numbers turn out to have ordinary explanations, and every question lists some. The only way to know is to ask.
Worth asking
Worth asking
There may well be a good reason. It is still worth asking what it is.
$58,443,000annual surplus in 2024, against a budget figure of $25,652,000
The City's audited 2024 statements show an annual surplus of $58,443,000, against a budget figure of $25,652,000. The budget column is not a plan to spend less than comes in: the City's own note says the approved operating budget was balanced (a surplus of zero) and the $25,652,000 is that plan restated in the statements' format. Several lines came in far above their budget figure, and three of them had no budget at all.
Found by reading the city's own documents · 3 sources
$239,017,728casino (OLG) hosting money received by the City from April 1, 2013 to August 31, 2025, per the City's own report
The City's budgets have carried casino revenue at $14,000,000 for 2024 and 2025 and $18,000,000 for 2026 (the Mayor's proposed budget), while the audited statements show $18,418,000 in 2024 and $19,809,000 in 2023 actually arrived. The City's own report says it has received $239,017,728 from the casinos since April 1, 2013, that $5,000,000 a year of it reduces the property tax levy (5.5% of the levy in 2025), and that the agreement can end on 30 days' notice from the Ontario Lottery and Gaming Corporation (OLG).
Found by reading the city's own documents · 8 sources
$34,820,000paid by the hydro holding company to the City in 2024 (2023: $671,000)
In 2024 the City's wholly owned electricity holding company, Niagara Falls Hydro Holding Corporation, had net comprehensive income of $18,547,000 (2023: $2,847,000) and the statements show $34,820,000 paid out to the City, against $671,000 the year before. The City's reserves and reserve funds rose from $122,011,000 to $190,495,000 over the same year. The statements say why the company's own debt fell (a sale of shares in a broadband business) but not what the City did with its $34,820,000.
Found by reading the city's own documents · 4 sources
The audited 2024 statements carry an auditor's report dated March 3, 2026, about 14 months after the year ended (worked out by us). The 2023 statements carry an auditor's report dated September 16, 2025, about 21 months after their year ended (worked out by us). On October 5, 2026 the City's Financial Reporting page listed 2025 trust fund statements but no 2025 consolidated statements. We did not find an explanation in the documents we read.
Found by reading the city's own documents · 4 sources
$9,614,083External Transfers in the 2026 proposed budget, against $4,885,256 in the 2024 budget
The tax supported operating budget grew from $150,434,006 for 2024 to $164,148,925 for 2025 and $179,702,889 for 2026 (the Mayor's proposed budget), about 19.5% over two years (worked out by us). Three lines grew faster: External Transfers ($4,885,256, then $8,200,399, then $9,614,083), Labour and Benefits ($71,258,810, then $77,459,763, then $81,352,563) and the Taxation Capital Levy ($1,291,540, then $2,275,641, then $4,359,642). The budget summaries do not say why.
Found by reading the city's own documents · 3 sources
$15,847,000materials costs in general government in 2024, against a budget figure of $7,861,000
In the audited 2024 statements' breakdown by service, general government (council, clerks, CAO, finance, human resources, legal and information systems) shows materials costs of $15,847,000 against a budget figure of $7,861,000, and $13,690,000 the year before. All services together spent $35,667,000 on materials against $27,188,000 budgeted. The statements note that budget figures are shown on a different basis from the actuals.
Found by reading the city's own documents · 2 sources
At the end of 2024, $33.3M of property tax had been billed but not paid. That is 13% of everything billed. None of the 10 similar places had a higher share. A year earlier it was $22.7M.
Found automatically from the city's financial reports · 2 sources
$43,679,000known legal claims outstanding at December 31, 2024, with no provision recorded
The audited 2024 statements say the City has known legal claims outstanding of approximately $43,679,000, and that no money has been set aside for them. The number was about the same a year earlier ($43,796,000). The City says insurance and defences are adequate.
Found by reading the city's own documents · 2 sources
$25,461,301hospital reserve fund at December 31, 2024, towards a $30 million commitment
The City has promised $30 million toward the South Niagara hospital, due by about March 2028, and has a reserve fund of $25,461,301 for it. It must also pay to demolish the International Railway Bridge by December 2026 unless an exception applies, and has $4,000,000 (rising with inflation) set aside. The statements give the plan, so this is context rather than a concern.
Found by reading the city's own documents · 2 sources
$58,443,000annual surplus in 2024, against a budget figure of $25,652,000
The City's audited 2024 statements show an annual surplus of $58,443,000, against a budget figure of $25,652,000. The budget column is not a plan to spend less than comes in: the City's own note says the approved operating budget was balanced (a surplus of zero) and the $25,652,000 is that plan restated in the statements' format. Several lines came in far above their budget figure, and three of them had no budget at all.
Why it matters
A surplus is money the City did not have to spend in the year. A large one can mean saving on purpose, or it can mean the budget was set low. Residents deserve to know which, because the budget is what sets their property tax.
It could be because…
The City budgets casino money and investment income cautiously on purpose, and the extra goes to reserves for roads, pipes and the hospital.
The Niagara Falls Hydro Holding Corporation income is the City's share of its wholly owned electricity company's year, which the City does not budget for.
Money from development charges and other reserve funds is counted as revenue when it is spent on projects, so it rises and falls with the capital program.
Much of the extra revenue is not cash available for the tax levy at all (for example, the Hydro income is recorded as an increase in the value of the City's investment).
Questions you could ask
How much of the $58,443,000 surplus is cash the City can spend, and how much is non-cash (for example the Hydro income) or already committed to capital projects?
Does the City publish a plain reconciliation from its balanced budget to the audited surplus each year?
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Niagara Falls?Send us your answer and we will publish it with this question.
The evidence
Consolidated Statement of Operations: annual surplus, 2024 budget 25,652, 2024 actual 58,443 (in thousands of dollars). Revenue: budget 198,670, actual 265,897. Expenses: budget 173,018, actual 207,454.
Lines far above budget in the same statement (in thousands of dollars): Niagara Falls Hydro Holding Corporation net comprehensive income, budget nil ("-"), actual 18,547. Contributions from Obligatory Reserve Funds, budget nil ("-"), actual 22,003. Casino and gaming revenues, budget 14,000, actual 18,418. Investment income, budget 3,075, actual 8,535. User fees, budget 70,276, actual 75,684.
The City's explanation of the budget column, Note 21: the chart starts from "Approved Operating Surplus" of nil ("-") and adds the library operating surplus of 437, the convention centre operating surplus of 1,311, net transfers to reserves of 18,940 and principal repayment of long-term liabilities of 4,964 to reach the "Surplus reported on the consolidated statement" of 25,652 (in thousands of dollars).
$239,017,728casino (OLG) hosting money received by the City from April 1, 2013 to August 31, 2025, per the City's own report
The City's budgets have carried casino revenue at $14,000,000 for 2024 and 2025 and $18,000,000 for 2026 (the Mayor's proposed budget), while the audited statements show $18,418,000 in 2024 and $19,809,000 in 2023 actually arrived. The City's own report says it has received $239,017,728 from the casinos since April 1, 2013, that $5,000,000 a year of it reduces the property tax levy (5.5% of the levy in 2025), and that the agreement can end on 30 days' notice from the Ontario Lottery and Gaming Corporation (OLG).
Why it matters
Casino money is large and has been steady, but it ended completely for more than a year when the casinos closed in 2020 and 2021. Residents should know how much of their services, roads and tax rate depend on it.
It could be because…
Budgeting less casino money than usually arrives is a deliberate safety margin, so that a bad year does not force a tax increase.
Holding most casino money out of the operating budget and putting it into capital projects and reserves is the City's stated policy, which protects the tax rate if the money falls.
The budget rose to $18,000,000 for 2026 because the City saw several years of higher payments and re-set its estimate.
Questions you could ask
If OLG ended or cut the payments, what would the City cut first, and is there a written plan?
Why was the casino line left at $14,000,000 for 2023 to 2025 while $18,418,000 to $19,809,000 arrived, and what was done with the extra each year?
Does the October 2025 report's two commitment totals ($229,828,022 on page 4 in the text, $229,818,185 in the table) mean a small error that should be corrected?
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Niagara Falls?Send us your answer and we will publish it with this question.
The evidence
Casino and gaming revenues, 2024 budget 14,000, 2024 actual 18,418 (in thousands of dollars).
The City's explanation: the agreement "will terminate at the earliest of" three events, including "the date specified in a written notice of termination provided by OLG" which must be "at least 30 days following the date of the notice". Staff "feel strongly that none of the OLG funding should be used to subsidize the tax levy but rather should be kept for use on capital projects or other special initiatives". The City says the property tax levy subsidy from OLG money is "equivalent to a 5.5% subsidy to the tax levy in 2025" (the dollar amount is printed in the same sentence). The City has received $239,017,728 since April 1, 2013.
Of the OLG money committed from April 1, 2013 to August 31, 2025, the report's table shows $68,864,946 for Property Tax Relief, $108,312,124 for Capital Asset and Strategic Investment, $42,679,814 for Casino Unit Policing (Niagara Regional Police), and a total of $229,818,185. The casinos closed from March 17, 2020 to July 31, 2021 and "The City did not receive any OLG funding during that time frame".
2026 capital budget, all services: funding sources include "OLG Reserve Fund" (10,000,000) of total funding (78,232,531) for 2026, and Debentures nil ("-").
"a small reduction of $90,000 was achieved in the 2025 budget resulting in a current property tax levy subsidy of $5,000,000 (equivalent to a 5.5% subsidy to the tax levy in 2025)"; "Revised property tax subsidy amount $5,000,000".
$34,820,000paid by the hydro holding company to the City in 2024 (2023: $671,000)
In 2024 the City's wholly owned electricity holding company, Niagara Falls Hydro Holding Corporation, had net comprehensive income of $18,547,000 (2023: $2,847,000) and the statements show $34,820,000 paid out to the City, against $671,000 the year before. The City's reserves and reserve funds rose from $122,011,000 to $190,495,000 over the same year. The statements say why the company's own debt fell (a sale of shares in a broadband business) but not what the City did with its $34,820,000.
Why it matters
The hydro company belongs to residents. A one-time payment this large is a rare chance to pay down debt, fix infrastructure or cut taxes, so people have a reason to ask what it was used for.
It could be because…
The payment came from the cash the company received for selling its shares in Niagara Regional Broadband Network, which is a one-time event rather than a new yearly income.
The City put the money into capital reserves for roads, water and wastewater, which is a normal use of a one-time gain.
A large share of the reserve increase came from casino money and development charges, not from the hydro payment.
Questions you could ask
What was the $34,820,000 spent on, or which reserve was it put in, and did council decide that in public?
Is any more money expected from the hydro company, or was 2024 a one-time payment?
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Niagara Falls?Send us your answer and we will publish it with this question.
Note 15(c), Niagara Falls Hydro Holding Corporation net equity (in thousands of dollars): balance, beginning of year 101,098; net income 18,547; dividends (34,820); balance, end of year 84,825. In 2023 the dividends were (671).
Note 9: "On February 5, 2024, NFHHC entered into a definitive agreement for the sale of its shares in Niagara Regional Broadband Network Limited." The company then "fully repaid its operating line of credit of $4,410,000 and long-term debt of $18,794,800 using the cash proceeds from the sale of its shares" and repaid a $5,000,000 bank loan on April 22, 2024. Net comprehensive income was 18,547 (2023: 2,847), in thousands of dollars.
Reserves and reserve funds (in thousands of dollars): total reserves 116,232 (2023: 61,004); total reserve funds 74,263 (2023: 61,007). Capital special purposes reserve, general: 50,422 (2023: 18,623). Ontario Lottery and Gaming reserve fund: 28,325 (2023: 16,945). Total reserves and reserve funds 190,495 (2023: 122,011).
Statement of Cash Flows, financing and investing lines (in thousands of dollars): dividends received from Niagara Falls Hydro Holding Corporation 34,820 (2023: 671). Investments on the Statement of Financial Position: 96,891 (2023: 56,664).
The audited 2024 statements carry an auditor's report dated March 3, 2026, about 14 months after the year ended (worked out by us). The 2023 statements carry an auditor's report dated September 16, 2025, about 21 months after their year ended (worked out by us). On October 5, 2026 the City's Financial Reporting page listed 2025 trust fund statements but no 2025 consolidated statements. We did not find an explanation in the documents we read.
Why it matters
Audited statements are how residents and lenders check the City's own numbers. The later they arrive, the less useful they are for judging a budget or an election-year record.
It could be because…
The City was busy with a new accounting system. Its October 2025 report says staff were "seconded to the ERP implementation project" in 2024, though it says this about a different report, not the statements.
The City's hydro company is accounted for in the statements, and its audit may have been late.
The posted file for 2023 may be a re-issued version of an earlier set of statements. We did not find an earlier one on the page.
The 2025 statements may exist and be before council already, without being on the Financial Reporting page yet.
Questions you could ask
What caused the audits of 2023 and 2024 to finish late, and when will the 2025 audited statements be before council and posted?
Does council see draft statements or a year-end report before the audit is signed?
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Niagara Falls?Send us your answer and we will publish it with this question.
The evidence
Independent Auditor's Report on the 2024 statements, signed by KPMG LLP, Hamilton: "March 3, 2026". Management Report signed by the Mayor and the Chief Administrative Officer: "March 3, 2026".
Independent Auditor's Report on the 2023 statements, signed by KPMG LLP, Hamilton: "September 16, 2025". Management Report signed by the Mayor and the Chief Administrative Officer: "September 16, 2025".
The Financial Reporting page lists "2024 Consolidated Financial Statements" as the newest consolidated statements (accessible and inaccessible versions) and "2025 Trust Fund Statements" as the newest trust fund statements. We read the page on October 5, 2026.
$9,614,083External Transfers in the 2026 proposed budget, against $4,885,256 in the 2024 budget
The tax supported operating budget grew from $150,434,006 for 2024 to $164,148,925 for 2025 and $179,702,889 for 2026 (the Mayor's proposed budget), about 19.5% over two years (worked out by us). Three lines grew faster: External Transfers ($4,885,256, then $8,200,399, then $9,614,083), Labour and Benefits ($71,258,810, then $77,459,763, then $81,352,563) and the Taxation Capital Levy ($1,291,540, then $2,275,641, then $4,359,642). The budget summaries do not say why.
Why it matters
These budgets set the property tax bill. A line that nearly doubles in two years needs a plain reason, especially in an election year.
It could be because…
External transfers are grants and payments to other bodies, and may include the casino policing payment to the Niagara Regional Police and new commitments such as the hospital. We did not find the line broken down.
The capital levy is money for replacing roads, pipes and buildings (the capital budget calls it "Capital Levy (Asset Management)"), and the City may be catching up on a backlog.
Labour costs rose because of collective agreements, growth in the city and new positions.
Questions you could ask
What is in External Transfers, and why did it rise from $4,885,256 to $9,614,083 in two budgets?
How many staff positions were added in 2025 and 2026, and what part of the Labour and Benefits increase is pay settlements?
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Niagara Falls?Send us your answer and we will publish it with this question.
The evidence
Tax supported operating fund, 2025 budget compared with 2024 budget: External Transfers 8,200,399 against 4,885,256, increase 3,315,143 (67.9%). Labour and Benefits 77,459,763 against 71,258,810 (8.7%). Taxation Capital Levy 2,275,641 against 1,291,540 (76.2%). Total revenue 164,148,925 against 150,434,006 (9.1%).
Tax supported operating fund, 2026 budget compared with 2025 budget: External Transfers 9,614,083 against 8,200,399, increase 1,413,684 (17.2%). Labour and Benefits 81,352,563 against 77,459,763 (5.0%). Taxation Capital Levy 4,359,642 against 2,275,641 (91.6%). Total revenue and total expenses 179,702,889 against 164,148,925 (9.5%).
The City's explanation of one source of capital levy money: the 2025 in-year capital budget amendments list "Capital Levy (Asset Management)" as the funding source for the 2025 Rural Surface Treatment Program, existing budget $750,000, adjusted by $900,000 to $1,650,000.
$15,847,000materials costs in general government in 2024, against a budget figure of $7,861,000
In the audited 2024 statements' breakdown by service, general government (council, clerks, CAO, finance, human resources, legal and information systems) shows materials costs of $15,847,000 against a budget figure of $7,861,000, and $13,690,000 the year before. All services together spent $35,667,000 on materials against $27,188,000 budgeted. The statements note that budget figures are shown on a different basis from the actuals.
Why it matters
Overspending a line by a large amount, year after year, means the budget is not a good guide to what things cost. It also hides what the money was for.
It could be because…
Software, licences, insurance and the new accounting system are part of this line, and such costs may be budgeted in a different place from where they are reported.
The statements move costs between services (an "interfunctional transfers" line), so a cost may be budgeted in one service and reported in another.
The budget column is the City's operating budget reshaped to the statements' format (Note 21), so lines will not match one for one. Most of the gap between total expense budget and actual is amortization (a non-cash charge for using up assets), which the budget does not include.
Questions you could ask
What makes up the $15,847,000 of materials in general government, and where in the budget was it planned?
Does the City publish a budget-to-actual report by line during the year, so council and residents can see overruns before the year ends?
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Niagara Falls?Send us your answer and we will publish it with this question.
The evidence
Schedule of Segmented Reporting, General Government, Materials: 2024 budget 7,861, 2024 actual 15,847, 2023 actual 13,690. Total, all services, Materials: 2024 budget 27,188, 2024 actual 35,667, 2023 actual 37,054 (in thousands of dollars). Total amortization: 2024 actual 28,848.
Note 21, Budget figures: the consolidated operating budget "includes the budgets approved by the Municipality, several boards and municipal enterprises" and "Budget figures have been reclassified to comply with PSAB reporting requirements." Note 1 says the statements follow public sector accounting standards "with the exception of providing budget figures".
Niagara Falls spent $31M on water, sewers and garbage in 2019 and $45.4M in 2024. Prices only went up about 18% in that time.
Why did the cost of water, sewers and garbage grow 47% in 5 years?
Water, sewers and garbage
Prices (inflation)
−20%+0%+20%+40%+60%
+47%
201920202021202220232024
Show as a table
Year
Water, sewers and garbage
Prices (inflation)
2019
+0%
+0%
2020
+9%
+1%
2021
−15%
+4%
2022
+20%
+11%
2023
+4%
+16%
2024
+47%
+18%
Change since the first year shown. The grey line is how much prices rose overall, for comparison.
Why it matters
When one area grows much faster than prices, it is either doing more (which may be great) or paying more for the same thing. Residents deserve to know which.
It could be because…
The city added a service, a building or staff that residents asked for.
Costs were moved from another area, so the total did not really change.
Accounting rules changed how costs are sorted.
Large one-time costs, like a study, lawsuit or repair, landed in one year.
Questions you could ask
What did the extra $14.4M a year pay for?
Why did sewer pipes go from $16.7M to $24.1M?
Was each increase approved by council as a separate decision, or did it happen through the yearly budget?
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Niagara Falls?Send us your answer and we will publish it with this question.
At the end of 2024, $33.3M of property tax had been billed but not paid. That is 13% of everything billed. None of the 10 similar places had a higher share. A year earlier it was $22.7M.
Why are so many property taxes unpaid?
$0$10M$20M$30M$40M
$33.3M
201920202021202220232024
Show as a table
Year
Unpaid property tax at year end
2019
$12.7M
2020
$22.3M
2021
$15.2M
2022
$16.7M
2023
$22.7M
2024
$33.3M
Why it matters
When taxes go unpaid, everyone else carries the cost, and the city may borrow to cover the gap. The Province's financial indicators treat 10% to 15% as a moderate risk and more than 15% as a high risk. Collection is the city's job, so a rising number is worth asking about.
It could be because…
The final tax bill was due late in the year, so some payments simply arrived in January.
A few large properties are in dispute or being sold for back taxes.
Hard times for residents, which the city may be handling with payment plans.
Questions you could ask
How much is more than one year overdue, and from how many properties?
Are the rules for chasing unpaid taxes applied the same way to everyone?
Has the city registered tax arrears certificates on properties about two years behind? If still unpaid a year after that, Ontario law lets the city sell the property.
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Niagara Falls?Send us your answer and we will publish it with this question.
The evidence
Taxes receivable: 2019 $12.7M, 2020 $22.3M, 2021 $15.2M, 2022 $16.7M, 2023 $22.7M, 2024 $33.3M. Of the 2024 total, $9.1M was from earlier years.
Niagara Falls spent about $1,868 per home on long-term debt in 2024. The typical similar city spent $998. Only 1 of 10 similar places spent more.
Why it matters
Spending more than neighbours is not wrong by itself. It might buy better service. But it is the first place to look for costs that could be lower, such as contracts that were not competitively bid.
It could be because…
Geography: more roads, more snow, a bigger area or a landfill of its own.
Accounting: some places record the same cost in a different category.
A one-time cost in this year.
Questions you could ask
What makes this cost higher here than in similar places?
When were the main contracts in this area last put out to competitive tender?
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Niagara Falls?Send us your answer and we will publish it with this question.
The evidence
Long-term debt per home: Niagara Falls $1,868; typical similar city $998; ranked 2nd highest of 11.
$43,679,000known legal claims outstanding at December 31, 2024, with no provision recorded
The audited 2024 statements say the City has known legal claims outstanding of approximately $43,679,000, and that no money has been set aside for them. The number was about the same a year earlier ($43,796,000). The City says insurance and defences are adequate.
Why it matters
If a large claim succeeded and was not covered, the cost would fall on taxpayers. The statements do not say what the claims are about, so residents cannot judge the risk.
It could be because…
Claims against municipalities are usually for much more than they are worth, and the amount stated is the sum asked for, not what is likely to be paid.
Insurance covers most claims. The statements give $20,000,000 as the maximum insurance coverage per claim.
Many of the claims may be small and routine, such as injury and property claims.
Questions you could ask
What are the largest claims about, in general terms, and how much of the total is covered by insurance?
Does council get a yearly report on legal claims, and is it public?
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Niagara Falls?Send us your answer and we will publish it with this question.
Note 11(a), Legal: "the Municipality has known legal claims outstanding of approximately $43,679,000. It is management's assertion that adequate defences and insurance coverages are in effect". Claims settled after year end totalled $204,000. "No provision for claims unsettled and settled has been included". "The Municipalities maximum insurance coverage per claim is $20,000,000."
$25,461,301hospital reserve fund at December 31, 2024, towards a $30 million commitment
The City has promised $30 million toward the South Niagara hospital, due by about March 2028, and has a reserve fund of $25,461,301 for it. It must also pay to demolish the International Railway Bridge by December 2026 unless an exception applies, and has $4,000,000 (rising with inflation) set aside. The statements give the plan, so this is context rather than a concern.
Why it matters
These are large, dated promises. A residents' check is whether the money is really there when the date arrives.
It could be because…
The hospital reserve is invested to mature at about $30 million, with about $14 million maturing in 2027 and about $16 million in the first quarter of 2028, so it may be fully funded on schedule.
The bridge demolition may never be needed. The statements say the condition can be waived if the bridge is sold to a third party or if CN/CP has not started demolition by December 2026.
Questions you could ask
Has the bridge's owner started demolition, and what does the City expect to pay by December 2026?
Is the hospital contribution date still March 2028, and is the reserve still on track to reach $30 million?
You can ask during the public part of a council meeting, by writing to the clerk, or by contacting your councillors. How to reach council.
Speak for Niagara Falls?Send us your answer and we will publish it with this question.
The evidence
Note 17(c): the City "committed to a local share contribution of $ 30 million payable by the date of substantial completion of the South Niagara Hospital, estimated to be March 2028". The reserve fund invested has "a forecasted maturity value of $30 million total, with approximately $14 million maturing during 2027 and $16 million maturing during the first quarter of 2028". The balance at December 31, 2024 is $25,461,301.
Note 17(b), International Railway Bridge: the City "has the responsibility for the costs of demolition of the International Railway Bridge by December, 2026", subject to being waived "if the bridge is subsequently sold to a third party or if demolition procedures have not commenced by CN/CP prior to December 2026". It set aside a reserve fund amount of $4,000,000 "increasing each year by the amount of the Consumer Price Index" and is committed to reimburse CN/CP the lesser of maintenance costs or $100,000 a year until December 2026.
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