Questions · 10 so far
We read Port Hope's financial reports and meeting minutes, and compared its numbers with 68 similar Ontario towns. These are the things that stood out.
These are unusual enough that residents deserve a clear answer from council.
+12%town property tax, 2023 to 2024
In 2024, Port Hope collected $2.9M more in its own property tax than in 2023. That is a 12% jump, while prices went up about 2.4%. Only 6 of 68 similar towns raised theirs by more. Almost all of it came from a higher tax rate (up 10% for homes); the value of homes on the tax roll grew only 2.6%.
Found automatically from the town's financial reports · 4 sources
There may well be a good reason. It is still worth asking what it is.
$(8,781,572)water and wastewater reserve funds combined at December 31, 2024 (worked out by us)
A reserve fund is money set aside for a named purpose. At the end of 2024 the Municipality's statements show the water system fund at $(2,692,011) and the wastewater system fund at $(6,089,561). Both were lower than a year earlier, when they were $(2,010,657) and $(5,833,652). A negative fund means more has been spent from it than has been put in, and other money has covered the gap. Together the two funds are $8,781,572 below zero (worked out by us). The Municipality has published its own reasons, in its 2026 budget presentation, and has raised the wastewater rate by 11.0% and the water rate by 3.5% for 2026.
Found by reading the town's own documents · 3 sources
$12,530,790user charges collected in 2024, against a budget of $14,444,765
User charges are fees for services, such as water and sewer bills. The 2024 budget in the audited statements counted on $14,444,765. The Municipality collected $12,530,790, which is $1,913,975 less (worked out by us). The year before it collected $14,301,453. The statements do not say which services account for the drop. Total revenue was $41,433,394 against a budget of $43,661,311, and the Municipality still reported an annual surplus of $4,844,326, because other revenue for capital was higher than budgeted.
Found by reading the town's own documents · 3 sources
$10,539,465spent on capital assets in 2024, against a budget of $18,869,200
Capital spending buys long-lasting things such as roads, pipes and buildings. The 2024 budget in the audited statements planned to buy $18,869,200 of tangible capital assets. The statements show $10,539,465 bought, about 56% (worked out by us). That is part of why the Municipality ended 2024 with net financial assets of $1,655,414, when the budget had pointed to net debt of $(7,805,002). At the end of the year it also had capital contracts of approximately $7.7 million outstanding. The statements explain that capital projects can run over more than one year.
Found by reading the town's own documents · 3 sources
$2,376,714drawn on the bank credit line at December 31, 2023, when investments were $35,285,271
At December 31, 2023 the statements show bank indebtedness of $2,376,714, which is money drawn on the Municipality's operating credit line, at the bank's prime rate less 0.25%. The same statement shows investments of $35,285,271. At the end of 2024 nothing was owed to the bank and investments were $29,966,074. The Municipality's credit line was up to $7,500,000 for the period from October 1, 2024 to December 31, 2024. The statements do not explain why the line was used while investments were held.
Found by reading the town's own documents · 3 sources
$21,944,630in the two radioactive waste reserve funds at December 31, 2024 (worked out by us)
Port Hope has sites with low-level radioactive waste (LLRW), cleaned up under the federal Port Hope Area Initiative. The Municipality holds two reserve funds for it: $11,202,327 for the urban area and $10,742,303 for the rural area at December 31, 2024. In the 2026 budget the Municipality takes $(657,000) of the interest on these funds and uses it to lower the police levy. The statements say Canada has taken responsibility for nine sites for an estimated 20 to 30 years, and that the Municipality has recorded no obligation for them because the amount cannot be known yet. The Municipality says it will reassess this each year.
Found by reading the town's own documents · 4 sources
+50%police, fire and safety, 2019 to 2024
Port Hope spent $7.7M on police, fire and safety in 2019 and $11.5M in 2024. Prices only went up about 18% in that time.
Found automatically from the town's financial reports · 2 sources
Background that helps make sense of the rest.
$20,199,625owed on the 4.73% loan ending January 17, 2051, out of $23,550,293 in total
At December 31, 2024 the Municipality owed $23,550,293 on loans from Infrastructure Ontario, down from $24,669,796 a year earlier. One loan, at 4.73% and ending January 17, 2051, makes up $20,199,625 of that, which is about 86% (worked out by us). In 2024 the Municipality paid $1,119,504 in principal and $1,077,953 in interest. The statements say these payments are within the annual debt repayment limit set by the province.
Found by reading the town's own documents · 3 sources
$176the Municipality's estimate of the 2026 municipal increase for a typical home
The infrastructure levy is a part of the property tax set aside for roads, pipes and buildings. In the 2026 budget presentation it rises from $3,811,116 to $4,700,000, which is $888,884 more. The Municipality says the budget is trying to close an infrastructure funding gap, and that the 2026 increase for a typical house is $176, or 3.42% of the total tax bill. The adopted 2026 budget shows $4,700,000 for the levy and a total municipal levy requirement of $30,700,722.
Found by reading the town's own documents · 4 sources
$74,292increase in the Council budget line, 2025 to 2026 (19.2%)
The Council department budget is $387,847 for 2025 and $462,139 for 2026, a rise of $74,292, or 19.2%. The budget presentation lists a "Council Compensation Review + Implementation" among its strategic plan items. We could not tell how much of the rise is for that review, because the text of the slide is out of order and does not pair the item with its cost reliably, so we have left its cost out. The Municipality has not posted the yearly pay and expenses statement for Council that Ontario's Municipal Act requires (section 284) on the pages we read. Its financial reports page points to the provincial salary disclosure instead.
Found by reading the town's own documents · 2 sources
+12%town property tax, 2023 to 2024
In 2024, Port Hope collected $2.9M more in its own property tax than in 2023. That is a 12% jump, while prices went up about 2.4%. Only 6 of 68 similar towns raised theirs by more. Almost all of it came from a higher tax rate (up 10% for homes); the value of homes on the tax roll grew only 2.6%.
| Year | Town property tax |
|---|---|
| 2019 | $20.2M |
| 2020 | $20.3M |
| 2021 | $21.4M |
| 2022 | $22.8M |
| 2023 | $24.9M |
| 2024 | $27.8M |
A big one-year jump usually means something changed: a new cost, a service that grew, savings being rebuilt, or a problem from earlier years being paid for now. Residents should be able to see exactly which. Spread across every home, it is about $376 more 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 Port Hope? Send us your answer and we will publish it with this question.
Town property tax: $24,911,538 in 2023, $27,849,900 in 2024.
Ontario Financial Information Return (FIR), 2019 to 2024 · Schedule 10, line 9940 · archived copy
Typical increase among 68 similar Ontario towns: 7.4%. Port Hope ranks 7th highest.
Ontario Financial Information Return (FIR), 2024, 68 similar municipalities · Schedule 10, line 9940 · archived copy
Residential tax rate (town share): 1.046% in 2023, 1.149% in 2024. Residential assessment: $1.9B to $1.9B.
Ontario Financial Information Return (FIR), 2019 to 2024 · Schedule 22, residential (RT) · archived copy
Prices (inflation) rose 2.4% over the same year.
$(8,781,572)water and wastewater reserve funds combined at December 31, 2024 (worked out by us)
A reserve fund is money set aside for a named purpose. At the end of 2024 the Municipality's statements show the water system fund at $(2,692,011) and the wastewater system fund at $(6,089,561). Both were lower than a year earlier, when they were $(2,010,657) and $(5,833,652). A negative fund means more has been spent from it than has been put in, and other money has covered the gap. Together the two funds are $8,781,572 below zero (worked out by us). The Municipality has published its own reasons, in its 2026 budget presentation, and has raised the wastewater rate by 11.0% and the water rate by 3.5% for 2026.
Water and sewer service is paid for by the people who use it, through their water bills. If the funds that are meant to pay for pipes and plants run below zero, either bills must rise, or other savings or the tax levy end up covering the gap.
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 Port Hope? Send us your answer and we will publish it with this question.
The records that would answer this can be requested: Plan for the water and wastewater reserve funds, with wording you can copy.
Statement of Municipal Equity, reserve funds set aside for specific purposes by Council: Water system (2,692,011) for 2024 and (2,010,657) for 2023; Wastewater system (6,089,561) for 2024 and (5,833,652) for 2023.
Audited Consolidated Financial Statements, year ended December 31, 2024 (KPMG LLP, December 3, 2025) · Consolidated Statement of Municipal Equity, PDF page 10 (printed page 4)
The Municipality lists contributing factors including "Lower than projected consumption in rate study", "Reserve funds trending down vs. projected increase in rate study" and "Unforeseen increase in biosolids disposal cost due to facility closure".
2026 Budget, staff proposed presentation to Council · Operating, Utility Highlights, PDF page 24
The same slide says: "Wastewater Rate Increase = 11.0%" and "Water Rate Increase = 3.5%".
2026 Budget, staff proposed presentation to Council · Operating, Utility Highlights, PDF page 24
$12,530,790user charges collected in 2024, against a budget of $14,444,765
User charges are fees for services, such as water and sewer bills. The 2024 budget in the audited statements counted on $14,444,765. The Municipality collected $12,530,790, which is $1,913,975 less (worked out by us). The year before it collected $14,301,453. The statements do not say which services account for the drop. Total revenue was $41,433,394 against a budget of $43,661,311, and the Municipality still reported an annual surplus of $4,844,326, because other revenue for capital was higher than budgeted.
Fees are what pay for the services people use. A big miss against budget can mean the budget counted on more use than there was, which then has to be made up from taxes, savings or later fee increases.
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 Port Hope? Send us your answer and we will publish it with this question.
Consolidated Statement of Operations, revenue: User charges, reconciled budget 14,444,765; 2024 actual 12,530,790; 2023 actual 14,301,453.
Audited Consolidated Financial Statements, year ended December 31, 2024 (KPMG LLP, December 3, 2025) · Consolidated Statement of Operations and Accumulated Municipal Equity, PDF page 8 (printed page 3)
Total revenue: reconciled budget 43,661,311; 2024 actual 41,433,394. Annual surplus: budget 3,797,943; 2024 actual 4,844,326.
Audited Consolidated Financial Statements, year ended December 31, 2024 (KPMG LLP, December 3, 2025) · Consolidated Statement of Operations and Accumulated Municipal Equity, PDF page 8 (printed page 3)
The Municipality's slide on the utilities lists "Lower than projected consumption in rate study" and "Growth and resulting DC and consumption revenue below rate study projections". It speaks about the water and wastewater rate study, not about the 2024 total of user charges.
2026 Budget, staff proposed presentation to Council · Operating, Utility Highlights, PDF page 24
$10,539,465spent on capital assets in 2024, against a budget of $18,869,200
Capital spending buys long-lasting things such as roads, pipes and buildings. The 2024 budget in the audited statements planned to buy $18,869,200 of tangible capital assets. The statements show $10,539,465 bought, about 56% (worked out by us). That is part of why the Municipality ended 2024 with net financial assets of $1,655,414, when the budget had pointed to net debt of $(7,805,002). At the end of the year it also had capital contracts of approximately $7.7 million outstanding. The statements explain that capital projects can run over more than one year.
Capital projects that are planned but not built can mean roads or pipes wait longer. The money not spent in one year is usually spent later, so a gap this size shows how much work is still ahead.
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 Port Hope? Send us your answer and we will publish it with this question.
Consolidated Statement of Change in Net Financial Assets (Debt): Acquisition of tangible capital assets, budget (18,869,200), 2024 actual (10,539,465). Net financial assets (debt), end of year: budget $ (7,805,002), 2024 actual $ 1,655,414.
Audited Consolidated Financial Statements, year ended December 31, 2024 (KPMG LLP, December 3, 2025) · Consolidated Statement of Change in Net Financial Assets (Debt), PDF page 9 (printed page 4)
Note 14: "The budgets established for capital investment in tangible capital assets 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."
Audited Consolidated Financial Statements, year ended December 31, 2024 (KPMG LLP, December 3, 2025) · Note 14, Budget data, PDF page 28
Note 13: "At December 31, 2024, the Municipality has outstanding capital project contractual commitments of approximately $7.7 million (2023 - $5.5 million)."
Audited Consolidated Financial Statements, year ended December 31, 2024 (KPMG LLP, December 3, 2025) · Note 13, Commitments, PDF page 28
$2,376,714drawn on the bank credit line at December 31, 2023, when investments were $35,285,271
At December 31, 2023 the statements show bank indebtedness of $2,376,714, which is money drawn on the Municipality's operating credit line, at the bank's prime rate less 0.25%. The same statement shows investments of $35,285,271. At the end of 2024 nothing was owed to the bank and investments were $29,966,074. The Municipality's credit line was up to $7,500,000 for the period from October 1, 2024 to December 31, 2024. The statements do not explain why the line was used while investments were held.
Borrowing costs interest. If a town borrows while it also holds investments, residents may want to know whether the investments were locked up for a purpose, or whether the cash timing could be managed to save interest.
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 Port Hope? Send us your answer and we will publish it with this question.
Consolidated Statement of Financial Position: Bank indebtedness (note 16) - for 2024 and 2,376,714 for 2023. Investments (note 4) 29,966,074 for 2024 and 35,285,271 for 2023.
Audited Consolidated Financial Statements, year ended December 31, 2024 (KPMG LLP, December 3, 2025) · Consolidated Statement of Financial Position, PDF page 7 (printed page 1)
Note 16: "The Municipality's financial agreement with its bank provides for an operating credit facility of up to $7,500,000 from October 1, 2024 to December 31, 2024 to finance expenses, pending receipt of property taxes and other income. As at December 31, 2024, $Nil (2023 - $2,376,714) was drawn, bearing interest at prime rate, less 0.25%."
Audited Consolidated Financial Statements, year ended December 31, 2024 (KPMG LLP, December 3, 2025) · Note 16, Bank indebtedness, PDF page 34
Note 4: cash and cash equivalents $ 4,625,309 (2024) and $ 11,687,696 (2023) at cost, and "The fixed income securities yield interest between 0.95% and 5.04% and have maturities ranging from January 2025 to September 2029."
Audited Consolidated Financial Statements, year ended December 31, 2024 (KPMG LLP, December 3, 2025) · Note 4, Investments, PDF page 19
$21,944,630in the two radioactive waste reserve funds at December 31, 2024 (worked out by us)
Port Hope has sites with low-level radioactive waste (LLRW), cleaned up under the federal Port Hope Area Initiative. The Municipality holds two reserve funds for it: $11,202,327 for the urban area and $10,742,303 for the rural area at December 31, 2024. In the 2026 budget the Municipality takes $(657,000) of the interest on these funds and uses it to lower the police levy. The statements say Canada has taken responsibility for nine sites for an estimated 20 to 30 years, and that the Municipality has recorded no obligation for them because the amount cannot be known yet. The Municipality says it will reassess this each year.
Together they are about twice the Municipality's "Total reserves" of $11,928,453 (worked out by us). Residents should know what the money is meant to be used for, and what could fall on them later.
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 Port Hope? Send us your answer and we will publish it with this question.
Statement of Municipal Equity, reserve funds: Low level radioactive waste - urban area 11,202,327 (2024) and 11,360,622 (2023); Low level radioactive waste - rural area 10,742,303 (2024) and 10,604,938 (2023). Total reserves 11,928,453.
Audited Consolidated Financial Statements, year ended December 31, 2024 (KPMG LLP, December 3, 2025) · Consolidated Statement of Municipal Equity, PDF page 10 (printed page 4)
Note 12(b)(ii): "The Municipality has identified nine sites which contain Low-Level Radioactive Waste (LLRW)"; the Government of Canada "has assumed responsibility for these sites, including maintenance and potential future remediation activities, for an estimated period of 20 to 30 years"; no obligation is recognized, and the responsibility "will be reassessed annually".
Audited Consolidated Financial Statements, year ended December 31, 2024 (KPMG LLP, December 3, 2025) · Note 12, Contingent liabilities, PDF page 27
The 2026 summary shows "Less: LLRW Interest Applied to Special Service" of (657,000), applied to the police levy.
2026 Operating Budget Summary (adopted budget) · 2026 Budget Summary, PDF page 1
The Municipality says it is "Continuing to use LLRW Funds interest to reduce property taxes on an area specific basis" and that budgeted amounts are "estimated to be same as last year (80% of net earnings per direction)".
2026 Budget, staff proposed presentation to Council · Changes - LLRW Funds Interest Application, PDF page 51
+50%police, fire and safety, 2019 to 2024
Port Hope spent $7.7M on police, fire and safety in 2019 and $11.5M in 2024. Prices only went up about 18% in that time.
| Year | Police, fire and safety | Prices (inflation) |
|---|---|---|
| 2019 | +0% | +0% |
| 2020 | −6% | +1% |
| 2021 | +2% | +4% |
| 2022 | +17% | +11% |
| 2023 | +36% | +16% |
| 2024 | +50% | +18% |
Change since the first year shown. The grey line is how much prices rose overall, for comparison.
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.
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 Port Hope? Send us your answer and we will publish it with this question.
Police, fire and safety: 2019 $7.7M, 2020 $7.2M, 2021 $7.9M, 2022 $9.0M, 2023 $10.4M, 2024 $11.5M.
Ontario Financial Information Return (FIR), 2019 to 2024 · Schedule 40 · archived copy
Biggest driver: Police (OPP contract), from $5.6M to $7.5M.
Ontario Financial Information Return (FIR), 2019 to 2024 · Schedule 40 · archived copy
$20,199,625owed on the 4.73% loan ending January 17, 2051, out of $23,550,293 in total
At December 31, 2024 the Municipality owed $23,550,293 on loans from Infrastructure Ontario, down from $24,669,796 a year earlier. One loan, at 4.73% and ending January 17, 2051, makes up $20,199,625 of that, which is about 86% (worked out by us). In 2024 the Municipality paid $1,119,504 in principal and $1,077,953 in interest. The statements say these payments are within the annual debt repayment limit set by the province.
A long loan at a set rate is a steady cost for residents for decades. It is worth knowing what the money paid for, and whether the Municipality has looked at whether the cost could be lowered.
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 Port Hope? Send us your answer and we will publish it with this question.
Note 9(a): the outstanding principal of the debentures is $23,550,293 (2023 - $24,669,796). "Infrastructure Ontario Debenture, bears interest at 4.73%, payable in semi-annual payments with a maturity date of January 17, 2051" $ 20,199,625 (2024) and $ 20,961,875 (2023).
Audited Consolidated Financial Statements, year ended December 31, 2024 (KPMG LLP, December 3, 2025) · Note 9(a), Net long-term liabilities, PDF page 23
Note 10: Principal payments $ 1,119,504 (2024) and $ 1,149,104 (2023). Interest 1,077,953 (2024) and 1,124,324 (2023). Total $ 2,197,457 (2024).
Audited Consolidated Financial Statements, year ended December 31, 2024 (KPMG LLP, December 3, 2025) · Note 10, Charges for net long-term liabilities, PDF page 24
Note 9(c): the annual principal and interest payments "are within the annual debt repayment limit prescribed by the Ministry of Municipal Affairs & Housing".
Audited Consolidated Financial Statements, year ended December 31, 2024 (KPMG LLP, December 3, 2025) · Note 9(c), PDF page 24
$176the Municipality's estimate of the 2026 municipal increase for a typical home
The infrastructure levy is a part of the property tax set aside for roads, pipes and buildings. In the 2026 budget presentation it rises from $3,811,116 to $4,700,000, which is $888,884 more. The Municipality says the budget is trying to close an infrastructure funding gap, and that the 2026 increase for a typical house is $176, or 3.42% of the total tax bill. The adopted 2026 budget shows $4,700,000 for the levy and a total municipal levy requirement of $30,700,722.
The Municipality has said it has a gap between what its roads, pipes and buildings need and what it saves for them. The levy is the way it plans to close it, so residents will pay it 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 Port Hope? Send us your answer and we will publish it with this question.
2026 Budget Summary: Infrastructure Levy 2025 Total Budget 3,811,116; 2026 Total Budget 4,700,000; 2026 vs 2025 Budget Incr./(Decr.) 888,884.
2026 Budget, staff proposed presentation to Council · Summary, PDF page 50
Notable considerations include "Improving the Infrastructure Funding Gap" and "Integrating Asset Management".
2026 Budget, staff proposed presentation to Council · Notable Considerations, PDF page 4
"$176 or 3.42%" municipal impact on total tax bill; Estimated Impact to Taxpayer: Municipal Increase only $176; Municipal Portion of Total Property Tax Bill $3,273, based on a typical single detached home with an MPAC value of $272,000 as of 2016.
2026 Budget, staff proposed presentation to Council · Overview, PDF page 8, and Estimated Impact to Taxpayer, PDF page 55
Adopted 2026 summary: Infrastructure Levy 4,700,000; Total Municipal Levy Requirement 30,700,722.
2026 Operating Budget Summary (adopted budget) · 2026 Budget Summary, PDF page 1
$74,292increase in the Council budget line, 2025 to 2026 (19.2%)
The Council department budget is $387,847 for 2025 and $462,139 for 2026, a rise of $74,292, or 19.2%. The budget presentation lists a "Council Compensation Review + Implementation" among its strategic plan items. We could not tell how much of the rise is for that review, because the text of the slide is out of order and does not pair the item with its cost reliably, so we have left its cost out. The Municipality has not posted the yearly pay and expenses statement for Council that Ontario's Municipal Act requires (section 284) on the pages we read. Its financial reports page points to the provincial salary disclosure instead.
Council sets its own pay. Residents may want to see the pay and the reasons for any change before it takes effect, especially in an election year (the next vote is on October 26, 2026).
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 Port Hope? Send us your answer and we will publish it with this question.
The records that would answer this can be requested: Statement of council remuneration and expenses, with wording you can copy.
Total Council: 2025 Budget $387,847; 2026 Total Budget $462,139; 2025 vs 2026 Incr./(Decr.) $74,292, 19.2%.
2026 Operating Budget, Council department sheet · 2026 Operating Budget, Council, PDF page 1
The strategic plan highlights list "Council Compensation Review + Implementation". The cost beside it is out of order in the slide text, so we do not give it here.
2026 Budget, staff proposed presentation to Council · Operating - MPH Highlights Strategic Plan, PDF page 21