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by hand, Oct 2026DetailsThis is built from public records, which leave a lot out, and some of it may be wrong or out of date.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 Peterborough'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 · 10 so far
Things worth asking about
We read Peterborough's financial reports and meeting minutes, and compared its numbers with 8 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.
$38,820,460surplus in 2024, against a budgeted $15,121,275
A surplus is what is left when a year's revenue is more than its spending. The 2024 audited statements budget a surplus of $15,121,275 and show $38,820,460. Revenue came in $12,965,664 above the budget and spending $10,733,521 below it (both worked out by us). Inside spending, salaries and benefits were $12,216,133 above the budget (worked out by us) while contracted services were $18,203,086 below it (worked out by us). The year before the result went the other way: the 2023 statements budgeted a surplus of $61,173,470 and showed $45,431,013 (restated later to $47,079,296).
Found by reading the city's own documents · 5 sources
$388.0 milliondebt issued plus debt approved but not issued, in the 2026 budget
At the end of 2024 the City owed $237,747,159 in long term debt, up from $162,350,479 a year earlier, and it issued $92,843,300 of new debt in 2024. The 2026 budget says another $204.9 million has been approved but not issued, which makes a total debt load of $388.0 million. It says room under the City's own debt limit was $38.3 million at the end of 2025 and falls to $19.3 million by the end of 2026. It also says Council's 2012 direction was to limit new tax-supported debt costs and any capital levy increase to 1% a year of the all-inclusive tax increase. The 2026 budget puts 2.00% of its increase into tax-supported debt, and says that follows a 2021 guideline report.
Found by reading the city's own documents · 7 sources
$91,900,000total project budget in the 2026 budget book
The draft 2025 budget listed construction costs for the Police Stations Renovation and Expansion project of $13,000,000 for 2025, $23,000,000 for 2026 and $12,000,000 for 2027 (together $48,000,000, worked out by us) and said both police buildings would be finished by 2027. The 2026 budget book lists the project at a total project budget of $91,900,000 and asks Council to pre-commit another $25,400,000 for 2028. It says a Class C cost estimate (an early estimate with a wide margin) was completed by the construction manager, and points to Report FCSFPM25-065 of November 17, 2025.
Found by reading the city's own documents · 5 sources
$10,514,387uncommitted reserve balance in the 2026 budget table, against $154,271,196 committed
A reserve is money set aside for a purpose. The reserves section of the 2026 budget is headed "$4.9 million at October 2025", its text says "$10.3 million in uncommitted balances", and the table's last column adds to 10,514,387. The three balance columns of the table add to $167,473,507 (worked out by us) of which $154,271,196 is already committed, and three reserves are committed for more than they hold: the WSIB reserve (workplace injury costs) by $14,404,353, the employee benefits reserve by $18,533,002 and the landfill closure reserve by $14,655,981. Together that is $47,593,336 (worked out by us). The 2024 statements list unfunded employee future benefits of $53,163,068.
Found by reading the city's own documents · 6 sources
6.56%all-inclusive rate increase in the 2026 budget, or $130.66 a year per $100,000 of assessment
The all-inclusive rate is the combined change in municipal tax, education tax and the sewer charge. The 2026 budget sets it at 6.56%, which is $130.66 a year more for every $100,000 of home assessment, and raises the tax levy by $14.5 million, or 7.9%. The parts are 2.10% for the City's own operations, 1.76% for outside organizations (police, paramedics and others), 2.16% for capital financing, 0.53% for the sewer charge and 0.00% for education tax. For 2025, Council had directed staff to use a 5.0% guideline, staff's first estimate was 8.42%, and the November 2024 draft came in at 7.8%. We did not read the final 2025 rate.
Found by reading the city's own documents · 5 sources
Peterborough spent $16.4M on running the city office in 2019 and $39.4M in 2024. Prices only went up about 18% in that time. Only 1 of 8 similar places had faster growth here.
Found automatically from the city's financial reports · 3 sources
$99,010estimated 2026 base pay for the Mayor, before the formula that starts in December 2026
The 2026 budget estimates pay of $99,010 plus $23,446 in benefits for the Mayor and $38,548 plus $9,967 in benefits for each councillor. The whole council budget is $934,784. The budget also says Council has set a new policy for the 2026 to 2030 term: from December 2026, pay equals the 75th percentile of a group of comparison municipalities, with later increases tied to the City's CUPE staff increases, and a vehicle allowance of $6,000 for the Mayor and $3,000 for each councillor. The budget does not say what the new pay will be. A Council pay decision is set by the sitting Council for the next one.
Found by reading the city's own documents · 2 sources
$1,250,0002026 contingency line, up from 565,862 approved for 2025 in the budget table
The 2024 statements say some costs are not counted because they cannot be estimated. For contaminated sites (land with pollution above standards) the City says it cannot estimate the clean-up cost and has recognized no liability. For the Province's firefighter illness rules, the City is self-insured and says it is not practical to work out its exposure, so nothing is provided. The statements do count an asbestos removal obligation of $44,603,103 and a landfill obligation of $32,613,941 (a duty to pay for closing and caring for landfills). Separately, the 2026 budget's table shows the contingency line (money set aside for legal, staff and other surprises) going from 565,862 approved in 2025 to 1,250,000, while its text says the increase is $250,000.
Found by reading the city's own documents · 5 sources
In 2019, Peterborough had $60.5M more in cash and money owed to it than it owed to others. By 2024 it was −$77M. About 56% of that change ($77.2M) is a new accounting rule from 2023: places must now record the future cost of closing things like a landfill. That is not new spending or borrowing. Even leaving that out, only 1 of 8 similar places are in a weaker position.
Found automatically from the city's financial reports · 2 sources
$38,820,460surplus in 2024, against a budgeted $15,121,275
A surplus is what is left when a year's revenue is more than its spending. The 2024 audited statements budget a surplus of $15,121,275 and show $38,820,460. Revenue came in $12,965,664 above the budget and spending $10,733,521 below it (both worked out by us). Inside spending, salaries and benefits were $12,216,133 above the budget (worked out by us) while contracted services were $18,203,086 below it (worked out by us). The year before the result went the other way: the 2023 statements budgeted a surplus of $61,173,470 and showed $45,431,013 (restated later to $47,079,296).
Why it matters
A budget is the promise made to taxpayers about what a year will cost. A promise that is wrong by this much, in either direction, makes it harder to judge a tax increase. We do not know how much of the gap is real cash and how much is bookkeeping, because the City's statements and its budget are built on different bases.
It could be because…
The budget Council adopts is not built the same way as the statements. Note 24 says budget figures were reclassified to fit the statements, and capital budgets run over several years, so they are not directly comparable.
Much of a municipal surplus is money for building projects. The statements treat grants and developer payments for capital as revenue in the year, while the cash is spent over years.
Investment income and the profit of the City's electricity holding company came in well above plan, and the holding company paid an extra dividend.
Contracted services may have been under budget because work was late, not because it was cheaper. Salaries may be over because more positions were filled than the budget assumed.
Questions you could ask
How much of the 2024 surplus of $38,820,460 is cash that can be spent, and how much is already committed to building projects?
Why were salaries and benefits $12.2 million over the 2024 budget (worked out by us) while contracted services were $18.2 million under it?
Why was the 2024 "General government" budget of $44,045,878 more than double the 2023 budget of $21,174,799?
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 Peterborough?Send us your answer and we will publish it with this question.
The evidence
Statement of operations, 2024: "ANNUAL SURPLUS" budget 15,121,275, actual 38,820,460 (2023 actual 47,079,296). "TOTAL REVENUES" budget 447,775,408, actual 460,741,072. "TOTAL EXPENSES" budget 432,654,133, actual 421,920,612. "Investment income" budget 5,758,835, actual 10,549,373. "Income from GBE (note 11)" budget 5,208,000, actual 8,105,000.
Note 24, Budget figures: "Budget figures have been reclassified for the purposes of these financial statements to comply with PSA reporting requirements." It adds that capital budgets "are on a project-oriented basis, the costs of which may be carried out over one or more years and, therefore, may not be comparable with current year's actual amounts."
Note 11: "In addition to the regular scheduled dividends received during the year of $5,529,000, there was an additional dividend of $1,013,000 declared relating to the reimbursement of shareholder costs that was paid in 2025."
Statement of operations, 2023 as first printed: "ANNUAL SURPLUS" budget 61,173,470, actual 45,431,013. "General government" budget 21,174,799, actual 34,051,395.
$388.0 milliondebt issued plus debt approved but not issued, in the 2026 budget
At the end of 2024 the City owed $237,747,159 in long term debt, up from $162,350,479 a year earlier, and it issued $92,843,300 of new debt in 2024. The 2026 budget says another $204.9 million has been approved but not issued, which makes a total debt load of $388.0 million. It says room under the City's own debt limit was $38.3 million at the end of 2025 and falls to $19.3 million by the end of 2026. It also says Council's 2012 direction was to limit new tax-supported debt costs and any capital levy increase to 1% a year of the all-inclusive tax increase. The 2026 budget puts 2.00% of its increase into tax-supported debt, and says that follows a 2021 guideline report.
Why it matters
Debt is a promise to pay interest and principal from future taxes and fees. The City's own limit is stricter than the Province's, which is good, but the room under it is nearly gone, and large new projects (a police station and a community complex) are coming. Residents should know who will carry the cost and what happens when the room runs out.
It could be because…
Debt can only be used for capital assets, and the assets are long-lived. Assets under construction rose from $132,983,413 to $185,078,396 in 2024.
Part of the debt is supported by development charges (fees on new buildings) and by sewer and water rates, not by property tax.
The 2026 budget says the 2.00% follows the 2021 guideline report, which may have replaced the 2012 direction for this purpose.
The City holds investments of $196,874,123, much of it set aside by law or by Council, so borrowing may not be a choice between the two.
Questions you could ask
Does the 2021 guideline report replace the 2012 direction to limit the effect of new debt to 1% a year? If so, where can residents read it?
What happens to future capital plans when room under the City's debt limit falls to $19.3 million at the end of 2026?
How much of the $204.9 million approved but not issued is paid by property tax, and how much by development charges, sewer and water rates?
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 Peterborough?Send us your answer and we will publish it with this question.
Note 13: "Interest on long term debt amounted to $6,728,128 (2023 - $4,855,057)." Future repayments of principal and interest total 343,668,991. "The annual principal and interest payments required to service these liabilities are within the annual debt repayment limit prescribed by The Ministry of Municipal Affairs and Housing."
"In addition to debt issued and outstanding, $204.9 million in debenture financing has been approved in previous years' budgets or through Reports to Council but has not yet been issued." Then: "the total debt load on the municipality is $388.0 million."
2026 Budget Book (December 2025) · Part 4, Debt Approved but not Issued, PDF page 320 (printed page 313); Debt Issued plus debt approved but not issued, PDF page 321 (printed page 314)
"the debt capacity available at December 31, 2025, is $38.3 million"; at December 31, 2026 "the debt capacity available ... becomes $19.3 million". Council's 2012 direction (Report CPFS12-011) is quoted: new tax-supported debt charges and any increase in the capital levy provision be limited "so that the impact on the residential All-inclusive tax increase does not exceed 1% per year." It then says: "The increase through the Debt Management Policy in the All-Inclusive Rate in the 2026 operating budget related to TS debt is 2.00%. This increase is in compliance with the Finance Committee's direction as outlined in the Guideline Report CLFSF21-022 dated July 12, 2021."
2026 Budget Book (December 2025) · Part 4, Remaining Debt Capacity at December 31, 2025 and 2026, PDF pages 323 and 324 (printed pages 316 and 317)
"The additional 1% provided approximately $18 million in tax supported debt for 2026." The same page says funding for future capital budgets "may be limited as reserves have been used extensively in recent budgets, and the City's available debt capacity is reduced by significant amounts of debt" for projects "such as the Police Station Renovation and Expansion and Miskin Community Centre."
"Development Charge supported debt of $38.3 million was issued for Misken Law Community Complex in 2024." Staff recommend that "temporary bridge financing be provided from the principal of the Legacy Fund for these DC supported debt payments." The draft 2025 budget "includes a total of $45.5 million in DC supported debt."
$91,900,000total project budget in the 2026 budget book
The draft 2025 budget listed construction costs for the Police Stations Renovation and Expansion project of $13,000,000 for 2025, $23,000,000 for 2026 and $12,000,000 for 2027 (together $48,000,000, worked out by us) and said both police buildings would be finished by 2027. The 2026 budget book lists the project at a total project budget of $91,900,000 and asks Council to pre-commit another $25,400,000 for 2028. It says a Class C cost estimate (an early estimate with a wide margin) was completed by the construction manager, and points to Report FCSFPM25-065 of November 17, 2025.
Why it matters
This is one of the largest projects in the budget and it is paid for by debt. When the number on a project grows, residents should be able to see what changed: more building, higher prices, land, or something else. The budget book points to a report we could not open.
It could be because…
The $91,900,000 total may include costs not in the 2025 construction list: design, the purchase of 1421 Lansdowne Street West in 2023, energy retrofits and the second site.
Construction prices may have moved between the first estimate and the construction manager's Class C estimate.
Council approved a staff update (Report FCSFPM25-028) that changed the program elements, so the project may be larger than first planned.
Council approved a Police Station Facility Space Needs Study (Report CLSFM21-007) that set the program, and the Mayor's budget direction cites legislative requirements for policing.
Questions you could ask
What is in the $91,900,000 total project budget (design, land, construction, furniture, retrofits), and how does it compare with the $48,000,000 construction plan in the 2025 draft?
When is the Class C estimate, Report FCSFPM25-065, due to be made public, and what range does it give?
What will the two police sites cost to run each year once they are open?
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 Peterborough?Send us your answer and we will publish it with this question.
Estimated capital costs for the project: "2025 Construction tender, contract award; $13,000,000", "2026 Construction; $23,000,000", "2027 Construction; $12,000,000". "Construction work will begin in 2025 with both facilities being completed by 2027." "The budget proposes that the construction phase be financed over 3 years."
Climate Mitigation and Adaptation Project Summary: "20-109 Facilities Design and Construction Police Stations Renovation and Expansion $91,900,000" under the heading "Total Project Budget".
2026 and Future Capital Pre-Commitments: line 6 Police Station Renovation and Expansion, $ 23,000,000 for 2026 and $ 12,000,000 for 2027; line 15, 2026 Budget recommendation, $ 25,400,000 for 2028.
"Report FCSFPM25-065 dated November 17, 2025, provides further updates, including the results of a Class `C' cost estimate that has been completed by the construction manager". "Through the 2025 budget, funds were pre-committed for 2026 and 2027. An additional pre-commitment of $25,400,000 is requested for 2028." "Future operating budgets will need to anticipate costs for two locations."
2026 Budget Book (December 2025) · Part 2, Facilities Design and Construction, Police Stations Renovation and Expansion, PDF pages 58 and 59 (printed pages 51 and 52)
Police Services: the Mayor directed a 10% increase for 2026; Police Services provided a 9.2% increase, which "adds $3.5 million to the operating budget."
$10,514,387uncommitted reserve balance in the 2026 budget table, against $154,271,196 committed
A reserve is money set aside for a purpose. The reserves section of the 2026 budget is headed "$4.9 million at October 2025", its text says "$10.3 million in uncommitted balances", and the table's last column adds to 10,514,387. The three balance columns of the table add to $167,473,507 (worked out by us) of which $154,271,196 is already committed, and three reserves are committed for more than they hold: the WSIB reserve (workplace injury costs) by $14,404,353, the employee benefits reserve by $18,533,002 and the landfill closure reserve by $14,655,981. Together that is $47,593,336 (worked out by us). The 2024 statements list unfunded employee future benefits of $53,163,068.
Why it matters
Reserves are the City's savings account against bad years. Residents need a plain number for what is free to spend. The City's own pages give three, and the savings that are meant to pay for long-term promises are well short of them. Those promises will eventually be met out of taxes.
It could be because…
The heading may be an old figure left in by mistake. The text and the table are close ($10.3 million and $10.5 million) and may be from different drafts.
Reserves for long-term liabilities are built up slowly on purpose, and the budget book says there is no law requiring the City to fund them.
Over-committed reserves may be matched by future budget contributions that this table does not show. The table says it excludes 2026 budgeted transfers.
Development charges and other money in separate funds are held for projects and are not savings the City can spend freely.
Questions you could ask
Which of the three figures ($4.9 million, $10.3 million, $10,514,387) is the City's uncommitted reserve balance, and why do the other two appear?
What yearly contributions are planned to bring the WSIB, employee benefits and landfill closure reserves up to what they are committed for?
What is the plan to pay the $53,163,068 of unfunded employee future benefits?
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 Peterborough?Send us your answer and we will publish it with this question.
The evidence
"Reserve and Reserve Fund Balances ($4.9 million at October 2025)". Text: "The balances reflected in the schedule are at a specific point in time, October 2025, and amount to $10.3 million in uncommitted balances. Most of the fund balances are committed by legislation or specific resolutions of Council for very specific purposes".
"The balance in the Post-Employment Employee Benefits Reserve is estimated to be $2.2 million at the end of 2025 to fund future liabilities of $20.7 million based on an actuarial review." It adds: "While there is no legislation requiring the City to fund these liabilities".
6.56%all-inclusive rate increase in the 2026 budget, or $130.66 a year per $100,000 of assessment
The all-inclusive rate is the combined change in municipal tax, education tax and the sewer charge. The 2026 budget sets it at 6.56%, which is $130.66 a year more for every $100,000 of home assessment, and raises the tax levy by $14.5 million, or 7.9%. The parts are 2.10% for the City's own operations, 1.76% for outside organizations (police, paramedics and others), 2.16% for capital financing, 0.53% for the sewer charge and 0.00% for education tax. For 2025, Council had directed staff to use a 5.0% guideline, staff's first estimate was 8.42%, and the November 2024 draft came in at 7.8%. We did not read the final 2025 rate.
Why it matters
A tax increase of this size is felt by every household. The budget says 1% of the rate is about $2.3 million, so each part above is a choice Council can change. The City's own text says the capital financing part came from a 2025 decision to raise it to 2% in 2026 and 3% in 2027, so the pressure is planned to continue.
It could be because…
Police costs are set partly by Provincial law, and the Mayor's May 2025 direction asked for a 10% increase for that reason.
The budget says it keeps 2025 service levels with no new staff positions, so the increase may be cost growth rather than new programs.
Capital financing is a deliberate choice to stop deferring repairs: staff said in 2025 that there would not be enough money for 2026 to 2029 projects.
The first-year phase-in of a policy can look large and then fall, as the budget says capital financing is stepped up in 2026 and 2027.
Questions you could ask
What was the all-inclusive rate increase Council adopted for 2025, and how does it compare with the 5.0% guideline?
What would the 2026 increase be if capital financing stayed at the 2025 policy of 1%, and what would not be built?
How much of the $28,915,713 drawn from reserves in the 2026 operating budget repeats every 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 Peterborough?Send us your answer and we will publish it with this question.
"for every $100,000 of residential assessment, there is an increase of the All-Inclusive Rate of 6.56% or $130.66 annual increase". "a 1.0% change in the All-inclusive Tax Rate ... equates to approximately $2.3 million in tax supported expenditures." The net tax levy requirement rises by $14.5 million.
Operating budget: "Taxation Revenue" 2025 approved 183,833,050, 2026 requested 198,379,745, change 7.9%, 14,546,695. "Transfers from Other Reserves" 26,841,788 for 2025 and 28,915,713 for 2026.
"The 2026 budget includes this increased capital financing which adds $4.55 million to the operating budget." Council approved "an increased capital financing policy of 2% for 2026 and 3% for 2027." The wage and salary cost is $103.0 million, "a $5.4 million (5.58%) increase over the 2025 levels."
"the preliminary estimate was an All-Inclusive Rate increase of 8.42%. After deliberations, Council gave staff direction to develop the 2025 budget using a 5.0% All-Inclusive Rate." "The result is the Draft 2025 Budget as presented with a 7.8% increase in the All-Inclusive Rate."
Peterborough spent $16.4M on running the city office in 2019 and $39.4M in 2024. Prices only went up about 18% in that time. Only 1 of 8 similar places had faster growth here.
Why did the cost of running the city office grow 141% in 5 years?
Running the city office
Prices (inflation)
+0%+50%+100%+150%
+141%
201920202021202220232024
Show as a table
Year
Running the city office
Prices (inflation)
2019
+0%
+0%
2020
+6%
+1%
2021
+43%
+4%
2022
+54%
+11%
2023
+59%
+16%
2024
+141%
+18%
Change since the first year shown. The grey line is how much prices rose overall, for comparison.
Why it matters
Money spent running the office is money not spent on roads, water or safety. When office costs grow much faster than the services people see, it is fair to ask what the extra money is buying.
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 $23.1M a year pay for?
Why did office and administration go from $10.5M to $25M?
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 Peterborough?Send us your answer and we will publish it with this question.
The evidence
Running the city office: 2019 $16.4M, 2020 $17.4M, 2021 $23.4M, 2022 $25.1M, 2023 $25.9M, 2024 $39.4M.
Peterborough spent about $6,256 per home on long-term debt in 2024. The typical similar city spent $2,614. None of the 8 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 Peterborough?Send us your answer and we will publish it with this question.
The evidence
Long-term debt per home: Peterborough $6,256; typical similar city $2,614; ranked 1st highest of 9.
$99,010estimated 2026 base pay for the Mayor, before the formula that starts in December 2026
The 2026 budget estimates pay of $99,010 plus $23,446 in benefits for the Mayor and $38,548 plus $9,967 in benefits for each councillor. The whole council budget is $934,784. The budget also says Council has set a new policy for the 2026 to 2030 term: from December 2026, pay equals the 75th percentile of a group of comparison municipalities, with later increases tied to the City's CUPE staff increases, and a vehicle allowance of $6,000 for the Mayor and $3,000 for each councillor. The budget does not say what the new pay will be. A Council pay decision is set by the sitting Council for the next one.
Why it matters
Council pay is paid from taxes and set by the people who receive it, so it should be easy for residents to see. Because the new rule starts in the last month of 2026, the cost will first show up in the 2027 budget and will be paid under the council elected on October 26, 2026.
It could be because…
The formula starts in December 2026, so the 2026 budget correctly shows the old rates.
Setting pay before the election, for the next term, is a way to avoid a sitting council voting itself a raise.
The City may publish the result in Report FCSFS25-008 and the 2025 remuneration statement, which we could not open.
Questions you could ask
What are the Mayor's and each councillor's base pay from December 2026 under the 75th percentile rule, and what is the yearly cost compared with today?
Which municipalities are in the comparison group, and where does current pay rank among them?
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 Peterborough?Send us your answer and we will publish it with this question.
"Report FCSFS25-008 dated April 22, 2025, established compensation for the Mayor and Councillors for the 2026 to 2030 council term effective December 2026": "compensation equal to the 75th percentile of the 2025 base compensation of the comparator group of municipalities", indexed for 2026, then yearly for 2027 to 2029 by "the inflationary increase provided to CUPE Staff bargaining groups". Vehicle allowance "For the Mayor as head of Council a base allowance of $6,000"; for each Councillor "$3,000".
"In the 2026 Budget, remuneration for the Mayor is estimated to be $99,010 plus $23,446 in benefits and for each Councillor, $38,548 plus $9,967 in benefits." City Council operating budget: 2025 approved 919,297, 2026 recommended 934,784.
2026 Budget Book (December 2025) · Part 2, City Council and City Council - Operating Budget, PDF pages 37 and 38 (printed pages 30 and 31)
$1,250,0002026 contingency line, up from 565,862 approved for 2025 in the budget table
The 2024 statements say some costs are not counted because they cannot be estimated. For contaminated sites (land with pollution above standards) the City says it cannot estimate the clean-up cost and has recognized no liability. For the Province's firefighter illness rules, the City is self-insured and says it is not practical to work out its exposure, so nothing is provided. The statements do count an asbestos removal obligation of $44,603,103 and a landfill obligation of $32,613,941 (a duty to pay for closing and caring for landfills). Separately, the 2026 budget's table shows the contingency line (money set aside for legal, staff and other surprises) going from 565,862 approved in 2025 to 1,250,000, while its text says the increase is $250,000.
Why it matters
A statement that leaves out costs it cannot measure may understate what the City owes. It is honest of the City to say so, and residents deserve to know whether it plans to measure them. The contingency text and table also do not agree on the size of the increase.
It could be because…
The City says it is working toward a valuation for contaminated sites, and the auditor's clean opinion accepted the current treatment.
The contingency text may compare 2026 with the 2025 preliminary actual of 1,000,000, which is $250,000 lower.
Public sector accounting rules allow a liability to be left out until it can be reasonably estimated.
Questions you could ask
When does the City expect to be able to put a number on the contaminated sites, and what does it expect the range to be?
Is the 2026 contingency increase $250,000, as the text says, or $684,138, as the table shows?
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 Peterborough?Send us your answer and we will publish it with this question.
The evidence
Note 29, Contaminated sites: "A reasonable estimate of the costs to remediate the sites cannot be determined as at the auditor's report date; as a result, no liability has been recognized in these financial statements. The City is working toward a valuation for the liability for the contaminated sites."
Note 27, Contingent liabilities: "At this point in time, it is not practical to determine what exposure, if any, the City has as a result of the amended Act coming to force, and consequently, no amount has been provided for in these financial statements."
"The contingency provision of $1.25 million is included for legal, personnel and other contingency items. This includes an increase of $250,000 over the 2025 contingency budget."
In 2019, Peterborough had $60.5M more in cash and money owed to it than it owed to others. By 2024 it was −$77M. About 56% of that change ($77.2M) is a new accounting rule from 2023: places must now record the future cost of closing things like a landfill. That is not new spending or borrowing. Even leaving that out, only 1 of 8 similar places are in a weaker position.
Peterborough went from having money in the bank to owing more than it has. What changed?
−$100M−$50M$0$50M$100M
−$77M
201920202021202220232024
Show as a table
Year
Net financial position
2019
$60.5M
2020
$95.2M
2021
$93.5M
2022
$62.3M
2023
−$36.5M
2024
−$77M
Why it matters
This number is one of the clearest signs of whether a city is living within its means. The accounting-rule part is a bill that will come due when the landfill closes, not money already spent. The rest is real borrowing and spending of savings.
It could be because…
A new accounting rule (asset retirement obligations, from 2023) added a large future cost to the books all at once.
Borrowing for a planned project, such as sewage lagoons, which is paid back over many years.
Questions you could ask
What is the plan and timeline for paying the landfill closing cost?
Without the accounting change, is the city's position getting better or worse?
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 Peterborough?Send us your answer and we will publish it with this question.
Can we count your visit? With your OK, we use Google Analytics to see which pages help people. It sets cookies and sends visit data to Google. Nothing loads unless you say yes. Privacy