2026-03-18 Finance Committee Agenda Packet - Open Session
Finance Committee Meeting
Open Session
December 9, 2025
MINUTES OPEN SESSION FINANCE COMMITTEE MEETING
DECEMBER 9, 2025 AT 4:30 PM
MEETING CONDUCTED BY ELECTRONIC PARTICIPATION
Present: Mayor D. Noade Reardon
Councillor G. Sullivan
Councillor P. Radwan
Councillor G. Stewart
Councillor G. Norton
Also
Present: Chief Administrative Officer B. McGovern
Commissioner of Finance and Treasurer K. Fudge
Commissioner Growth & Community Services A. Poffenroth
Commissioner Human Resources S. Hossack
Commissioner Public Works & Transportation M. Hugenholtz
Commissioner Utilities & Infrastructure I. Fogan
Fire Chief R. Nichol
Director Financial Services J. Forgie
Director Financial Services C. Lavigne
Director Engineering M. Baker
Director Corporate Performance S. Rackley-Roach
Intermediate Accountant V. Parikh
Deputy City Clerk A. McLennan
Administrative Assistant K. Tibbits
1. Meeting Called to Order
Councillor Sullivan called the Finance Committee open session meeting to order.
2. Approval of Minutes
2.1 Minutes of November 12, 2025
Moved by Councillor Stewart, seconded by Councillor Norton:
RESOLVED that the minutes of November 12, 2025 be approved.
MOTION CARRIED.
3. Approval of Agenda
Moved by Councillor Stewart, seconded by Councillor Norton:
RESOLVED that the agenda of December 9, 2025 be approved.
MOTION CARRIED.
4. Disclosures of Conflict of Interest
No disclosures.
5. Consent Agenda
5.1 2025 Operating and Capital Reserves
Finance Committee Meeting
Open Session
December 9, 2025
Moved by Councillor Stewart, seconded by Councillor Norton:
RESOLVED that
Finance Committee approve the transfers to and from the following reserves and forward a copy of the
report to Common Council for approval:
General Operating Reserves
$564,809 from the General Operating Fund to the General Operating Reserve
$729,057 from the General Operating Reserve to the General Operating Fund
$580,000 from the General Capital Reserve to the General Operating Reserve
General Capital Reserves
$7,668,279 from the General Operating Fund to the General Capital Reserve
$5,133,248 from the General Capital Reserve to the General Capital Fund
$580,000 from the General Capital Reserve to General Operating Reserve
Utility Operating Reserves
$603,469 from the Utility Operating Fund to the Utility Operating Reserve (Industrial Rate
Stabilization)
$4,750,000 from the Utility Operating Reserve to the Utility Operating Fund
$4,750,000 from the Utility Capital Reserve to the Utility Operating Reserve
Utility Capital Reserves
$1,802,839 from the Utility Operating Fund to the Utility Fund Capital Reserve
$541,169 from the Utility Capital Reserve to the Utility Capital Fund
$4,750,000 from the Utility Capital Reserve to the Utility Operating Reserve
MOTION CARRIED.
5.2 2026-2029 Capital Renewal Plan (CRP)
Moved by Councillor Stewart, seconded by Councillor Norton:
RESOLVED that 2026-
Finance Committee endorse the 20262029 Capital Renewal Plan (CRP) (Part 1 & Part 2) for the capital
renewal funding allocation as set out in Exhibits 1 & 2; and recommend approval of the above noted item
at the next meeting of Council.
MOTION CARRIED.
6. Business Matters
6.1 5-Year Capital Investment Plan Update (Utility and General Fund)
-Year Capital Investment Plan
Update (Utility and
Councillor Radwan joined the meeting.
Mayor Noade Reardon joined the meeting.
Moved by Councillor Stewart, seconded by Councillor Radwan:
RESOLVED that -Year Capital Investment Plan Update (Utility
and General Fund), the Finance Committee endorse the 5-Year Capital Investment Plan for the General
Fund and Utility Fund as set out in Exhibits 1 & 2; and recommend to Council to approve the above noted
items at the next meeting of Council.
MOTION CARRIED.
7. Adjournment
Moved by Councillor Radwan, seconded by Councillor Stewart:
RESOLVED that the Finance Committee meeting be adjourned.
Finance Committee Meeting
Open Session
December 9, 2025
MOTION CARRIED.
The Finance Committee open session meeting held on December 9, 2025, was adjourned at 4:45 p.m.
FINANCECOMMITTEEREPORT
Report DateMarch 10, 2026
Meeting DateMarch 18, 2026
Chairman SullivanandMembers of Finance Committee
SUBJECT: Gault Road/Manawagonish Road/ Ocean Westway&Route 7 Ramps
Roundabout Design
OPEN OR CLOSED SESSION
This matter is to be discussed in open session of Finance Committee.
AUTHORIZATION
Primary AuthorCommissioner/Dept. HeadChief Administrative
Officer
Michael Baker Kevin Fudge/Michael Ian Fogan
Baker
RECOMMENDATION
It is recommended that members of the Finance Committee:
Endorse the reallocation of $250,000 ofCity Share funding within the
approved 2026General Fund Capital Program from theHarbour Passage -
Riverview DriveProject(26TC04)and add thisfunding to a new capital project
titled Gault Road/Manawagonish Road/ Ocean Westway & Route7 Ramps
Roundabout Design.
It isfurther recommended thattheFinance Committee recommend approval of
the above noted itemat the next meeting of Council.
EXECUTIVE SUMMARY
Roundabout Strategy, the intersectionofGault Road/Manawagonish Road/
Ocean Westway & Route7 Rampshas been identified as a strong candidate for
reconfiguration into a roundabout.
Accordingly, it is recommended that a new project be added to the 2026General
Fund Capital Program, titled Gault Road/Manawagonish Road/ Ocean Westway
& Route 7 RampsRoundabout Design, with the required $250,000 in City Share
funding reallocated from the Harbour Passage -Riverview Driveproject(26TC04).
The remaining City share funding ($482,000) within the Harbour Passage -
- 2 -
Riverview Drive project budget will be allocated to another City project at a future
date.
PREVIOUS RESOLUTIONS
th
February 24, 2025: M&C 2025-058 2024-2028 Capital Investment Plan for the
Canada Community Building Fund (CCBF), approved.
st
December 1, 2025: M&C 2025-273 - 2026 General and Utility Fund Capital
Budget, approved.
STRATEGIC ALIGNMENT
MOVE priority by enhancing safety and
west side, including
improved access to New Brunswick Route 7 highway. The project is also
consistent with recommendations from MoveSJ, which identifies that the
awkward layout of the intersection and irregular traffic control are cause for
concern. The proposed roundabout would be a standard approach that would
correct the configuration of this intersection. This roundabout would require
provincial coordination in addition to property acquisitions near the intersection.
REPORT
In keeping
intersection of Gault Road/ Manawagonish Road/ Ocean Westway & Route 7
Ramps has been identified as a priority location for a roundabout installation due
to its awkward layout, irregular traffic control setup and a documented speeding
issue on Manawagonish Road.
The City currently has $1,235,000 of Canada Community Building Fund (CCBF)
funding assigned to fund a portion of Gault Road/ Manawagonish Road/ Ocean
Westway & Route 7 Ramps roundabout project within its approved 2024-2028
Capital Investment Plan (CIP) for the CCBF funding program.
When this roundabout project was proposed to be included within the City CCBF
CIP (2024-2028), staff were aware that more funding (City or Other Share) would
be required in 2027 in order to fully design and construct the roundabout. In order
to have a more accurate construction estimate for the amount of additional
funding required to fully construct the roundabout staff are proposing to fund the
design of the project in 2026 so that required investigations and design can be
completed. Throughout the design process more accurate construction estimates
are prepared therefore it will allow staff to be more accurate with required
additional funding within the 2027 Capital Program. In addition, completing the
design now will also allow staff to determine what land may be required from
neighboring properties.
- 3 -
Included in the approved 2026 General Fund Capital Program is the following
project.
Project Description Other Share City Share
Harbour
Harbour Passage Extension including
Passage -
new lights, new curb on one side, Harbour
Riverview
Passage sidewalk, landscaping, required
Drive (Civic $ $
paving, including design and construction
# 399 to 1,098,000 732,000
management services. Project contingent
Market
on the City receiving Active
Place
Transportation Funding.
Overpass)
$ $
Total
1,098,000 732,000
Unfortunately, the City was not successful with any of its Active Transportation
Funding (ATF) applications therefore it is proposed that $250,000 of City Share
funding from the Harbour Passage - Riverview Drive project be reallocated to the
to Gault Road/ Manawagonish Road/ Ocean Westway & Route 7 Ramps
Roundabout Design project.
SERVICE AND FINANCIAL OUTCOMES
It is proposed that $250,000 be relocated from the approved Harbour Passage -
Riverview Drive (26TC04) project within the 2026 General Fund Capital Program
and be allocated to a new capital project titled Gault Road/ Manawagonish Road/
Ocean Westway & Route 7 Ramps Roundabout Design. The overall 2026 General
Fund Capital City Share budget would remain unchanged.
The outstanding $482,000 ($732,000 - $250,000) will be reallocated to another
project in the future.
INPUT FROM OTHER SERVICE AREAS AND STAKEHOLDERS
Name of Service Area/Stakeholder Name of Staff Person
Public Works & Transportation Services Reilly
Finance Department Craig Lavigne
ATTACHMENTS
N/A
FINANCECOMMITTEEREPORT
Report DateMarch 10, 2026
Meeting DateMarch 18, 2026
Service AreaStrategic Services
Chairman SullivanandMembers of Finance Committee
SUBJECT: Enterprise Risk Management
OPEN OR CLOSED SESSION
This matter is to be discussed in Finance Committee Open Session.
AUTHORIZATION
Primary AuthorCommissioner/Dept. HeadChief Administrative Officer
Jodie ForgieKevin FudgeIan Fogan
RECOMMENDATION
It is recommended that Finance Committee recommend to Council to approve the
Enterprise Risk Management Policy.
EXECUTIVE SUMMARY
As part of the Internal Audit Planthe Citywith significant support from BFLhas
implemented an Enterprise Risk Management (ERM) Framework and developed
an ERM Policy to guide the City in maturing our Enterprise Risk Managment
system.
PREVIOUS RESOLUTION
N/A
STRATEGIC ALIGNMENT
This action aligns with the Council priority of tĻƩŅƚƩƒ by implementing an
Enterprise Risk Management Framework that will optimize service delivery and
ensure a more efficient use of the organ
overall enhanced performance by supporting informed decision-making and
compliance with applicable laws and regulations leading to better project
management, minimization of waste, and promotes innovation to support the
- 2 -
REPORT
Throughout 2024 and 2025 the City and BFL worked together on creating an ERM
framework and conducting workshops with members of senior leadership to
establish an approved risk matrix, identify the risks of the organization and to
score them against the approved risk matrix. The outcome of this work is that the
City now has an active risk register and a risk appetite matrix, both of which will
evolve as time passes and risks change. The risk matrix provides a consistent way
to measure risk for the City with clear criteria to measure the impact and
probability of ris
low, moderate, or high which dictates the priority to work on the risk. In 2025 a
focus was put on the top risks with a detail review of controls in place and
treatment plans were created.
As we continue to evolve our ERM system, crucial to the success will be proper
oversight and guidance to ensure that the risk management practices are
effective. The ERM policy will define roles and responsibilities to support ERM and
core principles to follow. The next steps in 2026 will be to develop clear
documentation to formalize ERM governance, reporting and process and to
continue to actively work on the top risks identified.
Municipalities are faced with high impact risks which the City of Saint John has
enterprise risk management process will help the City continue on the path of
being strategic, proactive and managing risks effectively. The City will continue to
embed ERM into the culture of the City and in the decision making process to help
mitigiate negative risk and take advantage of the calculated opportunities.
SERVICE AND FINANCIAL OUTCOMES
An Enterprise Risk Management Framework that will optimize service delivery
INPUT FROM OTHER SERVICE AREAS AND STAKEHOLDERS
Name of Service Area/Stakeholder Name of Staff Person
{ƷƩğƷĻŭźĭ {ĻƩǝźĭĻƭΉwźƭƉ ağƓğŭĻƒĻƓƷ /Ʃğźŭ \[ğǝźŭƓĻ
ATTACHMENTS
ERM Policy
ERM POLICY FOR THE CITY OF SAINT JOHN
4¨³«¤Ȁ %³¤±¯±¨²¤ 2¨²ª - ¦¤¬¤³ 0®«¨¢¸
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Subject: Enterprise Risk Management Policy Category: Strategic Services
(ERM)
Policy No.: M&C Report No.:
Effective Date: March 23, 2026 Next Review Date: (3 years)
Areas this policy applies to: All City Service Areas Office Responsible for review of this Policy:
Strategic Services (Finance)
Related Instruments: Policy Sponsor: CFO and Chief of Staff
FAS-028- Internal Audit Charter
Document Pages: This document consists of 8
pages.
Revision History:
City Clerk's Annotation for Official Record
I certify that the Enterprise Risk Management Policy was
approved by Common Council on
____ ___ _____ City
Clerk Date
nd
Contact: City Clerk, 2 floor City Hall, 15 Market Square, P.O.B. 1971, Saint John, NB, E2L 4L1
Telephone: 658-2862
Email: cityclerk@saintjohn.ca
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ERM POLICY FOR THE CITY OF SAINT JOHN
TABLE OF CONTENTS
1. PURPOSE ................................................................................................................................................... 3
2. POLICY STATEMENT .................................................................................................................................. 3
3. SCOPE ........................................................................................................................................................ 3
4.GENERAL PRINCIPLES ................................................................................................................................. 3
5. RELEVANT LEGISLATION, NORMS AND REGULATIONS ............................................................................. 5
6. ROLES AND RESPONSIBILITIES .................................................................................................................. 5
7. GLOSSARY .................................................................................................................................................. 7
8. INQUIRIES .................................................................................................................................................. 8
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ERM POLICY FOR THE CITY OF SAINT JOHN
1. PURPOSE
A proper ERM framework is crucial to optimize service delivery and ensure a more efficient use of the
decision-making and compliance with applicable laws and regulations leading to better project
management, minimization of was
accomplishing its mission. As such, the purpose of this policy is to provide a formalized governance
structure to guide the implementation of a systematic, comprehensive and consistent approach to the
management of risk at all levels of the organization. The policy seeks to:
Allow Saint John to readily adapt to a changing environment (i.e., internal and external);
Create and maintain an efficient risk management system;
Guide strategic achievements and goals;
Increase management transparency and accountability;
Establish stronger compliance to regulations and best practice norms (e.g., ISO and COSO).
2. POLICY STATEMENT
The City of Saint John (Saint John) has implemented an Enterprise Risk Management (ERM) framework
tailored to its sector of operation and aligned with risk management best practices and ISO 31000
standards. The framework is designed to evolve over time in response to organizational changes,
emerging risks, and continuous improvement objectives. Saint John has done so by adopting a
centralized ERM framework to standardize how risks are identified, analyzed, evaluated, treated and
reported. The ERM framework thereby supports initiatives to proactively prevent risks from threatening
goals, and values.
3. SCOPE
This policy is applicable to all Saint John employees, senior leadership, executive leadership, council and
committee members.
4. General Principles
The ERM framework follows a clear structure that will be maintained (reviewed and updated
periodically) and approved by the Executive Leadership Team (ELT). The following procedures and
principles will serve as a basis for the ERM framework to ensure a strategic approach to risk
management. As such, the framework will be tightly knitted against the vision, mission, and values of
the City thereby supporting achievements of its organizational objectives.
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ERM POLICY FOR THE CITY OF SAINT JOHN
a)The ERM Framework
To support the management and oversight of risk across the City, this policy requires the establishment
and maintenance, to international best practice, of an appropriate ERM framework.
The framework that has been adopted is based on the ISO 31000 standards and applies across the entire
organization. This ERM framework is managed and maintained by the Controller, owned by the
Executive Leadership Team (ELT) and overseen by the Common Council through the Finance Committee.
The Controller and their team will assist the ELT to deploy the relevant parts of the framework in a way
that is appropriate to each area. The ERM framework is to be maintained in accordance with this policy.
The ERM process will involve quarterly reporting to the SLT and ELT, semi-annually to Finance
Committee, and annually to Common Council.
In addition, materialized incidents assessed as exceeding approved risk appetite or tolerance levels, as
*
established in the risk appetite statement, will be escalated in accordance with
process outside of the standard reporting cycle.
b) Core Principles and guidelines
A focus on creating a risk aware, rather than risk averse, culture.
Risk management strategies are aligned and supportive of Saint Jo
Risk management is the responsibility of all employees.
Risk management is applied in a coordinated and efficient manner across the organization, using
common definitions and framework.
Risk management encompasses all Saint John operational activities and external factors,
including human resources, health and safety, financial, information and technology, business
developments, strategic, and legal/compliance risk.
Collaboration and communication across corporate functions, departments, and operations is
critical to prevent a siloed approach to risk management.
The ERM framework will be continuously improved and updated to reflect best practices and
Risk management at the City is to remain a dynamic and ever-evolving process in line with
changes within and outside of the organization.
across all decision-making processes, ensuring corporate excellence throughout its functions
and operations.
c) Risk Appetite
*
Saint John will set its risk appetite through risk appetite statements which document and explain Saint
*
Risk appetite statements shall be reviewed and approved
by Common Council annually. Operations and risk-based decisions will be conducted within the
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ERM POLICY FOR THE CITY OF SAINT JOHN
*
boundaries established by the risk appetite statements, except where otherwise authorized by
Common Council or through delegated authority.
5. Relevant Legislation, Norms and Regulations
ERM Norms
COSO (Committee of Sponsoring Organizations of the Treadway Commission) Framework for
design, implement and evaluate internal controls
ISO 31000 an international standard providing principles, a framework, and a process for
managing risk systematically across any organization
6. ROLES AND RESPONSIBILITIES
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All employees at the City will manage risk and work collaboratively to ensure an effective ERM
framework is in place. Defining clear roles and responsibilities for the ERM framework at all levels of the
organization allows for the following:
Risks to be identified, analyzed, evaluated, treated and reported effectively and
efficiently.
Risk incidents to be reported to the relevant parties.
Assistance in the achievement of objectives.
Protection and creation of value.
Support of strong and consistent governance, risk management and internal controls.
Empowerment of all employees to manage risk, capitalize on opportunities and
innovate.
All employees are responsible for following sound risk management practices, reporting, and escalating
observed risks to management and (other roles or departments if applicable), as appropriate and in a
timely manner.
Common Council is responsible for:
Providing oversight of the functioning of the ERM framework through regular council
meetings.
Approving the risk management policy.
Rev
appetite statements periodically.
Reviewing and providing guidance with respect to risk status and treatment plans for
top risks that are escalated by the Finance Committee.
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ERM POLICY FOR THE CITY OF SAINT JOHN
Reviewing any risks escalated to the Council that are outside the risk appetite or risk
tolerance of the City.
Approving or delegating approval of significant enterprise decisions that may lead Saint
John outside of its stated risk appetite and risk tolerance.
The Finance Committee is responsible for:
Providing oversight of the ERM framework functioning through regular committee
meetings.
Reviewing the risk management policy and recommending any changes to the ELT.
Overseeing the effectiveness of Saint
risk appetite / risk tolerance and escalating such risks to the Council if they are perceived
to be outside the risk appetite / tolerance of the City.
Reviewing and providing guidance with respect to risk status and treatment plans for all
top risks and escalating those that require a wider discussion at the Council level.
Communicating with the ELT and the Internal Audit function regarding risk governance
and oversight.
The Internal Audit is responsible for:
Providing independent assurance to the Finance Committee on the adequacy and
The Controller is responsible for:
Advising the Council and Finance Committee with respect to the status of the ERM
framework and providing them with periodic updates on the current risk ecosystem of
the City and the action plans elaborated to address top risks.
Coordinating the enterprise risk management process to ensure methodological
consistency, including facilitating external support where required.
Coordinating and monitoring the capacity and effectiveness of risk management efforts
to support the ongoing treatment of key corporate risks.
Monitoring risk exposures rel
Coordinating escalations of critical risks to the ELT and Finance Committee that fall
Collating and reviewing the Risk Register, risk status and treatment plans, and the risk
reports, as applicable on a quarterly basis.
Participating in the ERM process.
Coordinating appropriate risk management training for all employees.
The Executive Leadership Team (ELT) is responsible for:
Developing an ERM framework for approval by Council.
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ERM POLICY FOR THE CITY OF SAINT JOHN
Reviewing the effectiveness of the ERM system and directing improvements where
necessary.
various types.
Acting upon the guidance received from the Council and Finance Committee with
respect to risks and risk management efforts.
Allocating resources and determining priorities internally to address risks in line with the
strategic goals and resources given by the Council.
Communicating with the SLT any guidance received from the Council or Finance
Committee on risks and risk management efforts.
Participating in the ERM process.
The Senior Leadership Team (SLT) is responsible for:
Periodically discussing and addressing key risks that are escalated to the ELT, and, if
/ risk tolerance.
Providing oversight to ensure that risk owners are fulfilling their responsibilities as
outlined in this policy.
Periodically communicating with staff to ensure proper downward reporting of risk, risk
management processes, and risk appetite / risk tolerance.
Making operational decisions and overseeing the management of risks within their
respective functions.
Identifying new and emerging risks within their functions and assigning an appropriate
risk owner.
Participating in the ERM process.
Risk owners are responsible for:
Participating in the ERM process.
Proactively monitoring and managing (identify, analyze, evaluate, treat, and report on)
their assigned risks and critical processes.
Completing and updating risk status and treatment plans for all assigned risks on a
quarterly basis.
Informing the SLT or ELT when additional resources are needed to adequately control
risk
7. GLOSSARY
Employee: refers to full-time, part-time, temporary (contract) and student employees at Saint
John.
Enterprise Risk Management (ERM): is a process, effected by an entity's board of directors (or
comparable governing body), management and other personnel, applied in strategy setting and
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ERM POLICY FOR THE CITY OF SAINT JOHN
across the enterprise, designed to identify potential events that mayaffect the entity, and
manage risks to be within its risk appetite, to provide reasonable assurance regarding the
achievement of entity objectives (COSO, 2019).
Enterprise Risk Management (ERM) Framework: consists of appropriate structures to support
risk management, formal assignment of risk responsibilities, procedures and systems for risk
identification, assessment, reporting and ongoing monitoring of the effectiveness of risk
mitigation actions and controls.
Impact: The result or effect of a risk. There may be a range of possible impacts associated with a
business objectives.
Likelihood: The possibility that a given event will occur.
Risk: The possibility that events occur (i.e., threats and opportunities) and affect the
achievement of strategy and business objectives. It is a function of Likelihood (the chance that
the risk will occur) and Impact (the result of the risk happening).
Risk Appetite: The amount of risk to which the organization is prepared to be exposed before it
judges that action is necessary.
Risk Owner: An individual with the authority and responsibility to monitor, manage, and report
on a specific risk.
Risk Tolerance: The variability that Saint John is willing to accept relative to the stated risk
appetite of the organization.
8. INQUIRIES
For more information on the Policy, please contact the Controller.
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CityofSaintJohn
Long-TermFinancialPlan
FinanceCommittee
March18,2026
(GeneralFund)
Background
In December 2019, the City launched its first-
ever 10-year plan
This plan was contingent upon elimination of
the $10M structural deficit in 2020
The provincial short-term assistance ended in
2020
Last refresh of Long Term Financial Plan was in
2023
Presentation will focus on updating the plan
for 2027-2036
LTFP Structure
STABILITY Base Case Model
PROSPERITY -Stretch Goal Model
STRATEGY
Borrowing Capital Investment
Growth Expense Management
PLAN ELEMENTS
Reserve Balances
Balanced Budget Debt per Capita
Debt Service Ratio Debt % Operating Budget
Reserves Infrastructure Deficit Wage
TARGETS
Escalation % Debt Balance Pay-as-you-Go
Operating Budget Debt Management
Capital Reserves Asset Management
POLICIES
Wage Escalation Capital Budget
Long-Term Sustainability Increased Flexibility
Decreased Vulnerability Accountability
PRINCIPLES
Principles of the Long-Term Financial Plan
1. Manage Financial Sustainability:
infrastructure assets without unplanned increases in rates or disruptive cuts
to services.
2. Minimize Financial Vulnerability:
The degree to which Saint John is dependent on external funding sources
that it cannot control; it is the level of risk that could impact the ability to
meet existing financial obligations and commitments, including the delivery
of services.
3. Maximize Financial Flexibility:
obligations while ensuring intergenerational equity.
4. Accountability:
Senior Leadership & Council must be responsible to all stakeholders for the
actions and results of the plan.
Council Approved Financial Policies
Policy#Policy TitleStatus
FAS-001Asset Management PolicyApproved
FAS-002Investment Management PolicyApproved
FAS-003Operating & Capital Reserves PolicyApproved
FAS-004Operating Budget PolicyApproved
FAS-005Capital Budget PolicyApproved
FAS-006Debt Management PolicyApproved
FAS-007Wage Escalation PolicyApproved
FAS-020Long Term Financial Plan PolicyApproved
FAS-021Budget Monitoring PolicyApproved
FAS-022ABC Reporting PolicyApproved
FAS-023Grant PolicyApproved
Current 2023-2032 Long Term Financial Plan Targets
2026 LTFP 2026 LTFP
MeasureDirection2026 Budget
BaseStretch
Debt per Lower is
$815$1,258$1,050
Capita*better
Debt Service Lower is
6.3%7.5%7.2%
Ratiobetter
Total Debt as
a % of Lower is
31%39%37%
Operating better
Budget
Debt Lower is
$63.70M$72.40M$71.46M
Balancebetter
*Note Based on 2024 Population Data 78,165
Current 2023-2032 Long Term Financial Plan Targets
2026 LTFP 2026 LTFP
MeasureDirection2026 Budget
BaseStretch
Assessment Higher is
1.53%3.0%5.0%
Growthbetter
Lower is
Tax Rate$1.535$1.62$1.614
better
Pay-as-you-
Higher is
Go $6.0M$5.45M$8.67M
better
Contribution
Infrastructure
Higher is
Deficit 2.9%*11.4%15.90%
better
Reduction
*Updated SOTI report in 2024 resulted in an increase of $75.66M in additional
infrastructure deficit.
Elements of the Long-Term Financial Plan
2026 Long
Term
Capital
Financial
Borrowing
Investment
Plan
Update
Expense
Reserves
Management
Plan Requires Review and Updating
Plan should be updated every 2-3 year to
reflect current environment
2026 Long
Inflation of goods and services has now
stabilized
Term
Tax rate reduced to $1.535 much lower than
prior plan
Financial
Interest rates are decreased and stabilized
Special Pension payments are coming to an
Plan
end in first quarter of 2028
Province announced new stable funding for
both operating and capital budgets
Update
Assumptions need to be revisited
Financial performance better than current
targets
2026 Tax Rate Comparison
Saint JohnMonctonFrederictonRothesay Quispamsis
$1.535 per $1.3614 per $1.3086 per $1.17 per $100 $1.2599 per
$100 $100 $100 assessment$100
assessmentassessmentassessmentassessment
City of Saint John needs to continue focus on being competitive
2026 Long Term Financial Plan Update
Proposed Financial Targets
PolicyMeasureTargetDue Date
Operating Budget PolicyStructural budgetMaintain a structurally balanced budgetAnnual
Debt Management PolicyDebt per capitaReduce to $575December 31, 2036
Debt Management PolicyDebt Service RatioReduce to 3.5%December 31, 2036
Debt Management PolicyDebt Outstanding as a % of Reduce to 20%December 31, 2036
Operating Budget
Operating and Capital Reserves Operating fund balanceMaintain a minimum of 50% of allowable On going
Policymaximum balance for unforeseen expenditures
Asset Management PolicyInfrastructure DeficitReduce by 30%December 31, 2036
Wage Escalation PolicyAnnual Wages and Benefits Less than property tax growthAnnual
Escalation %
Debt Management PolicyDebt BalanceReduce to $47 millionDecember 31, 2036
VariousPay-as-you-GoIncrease to $17.5 million annuallyDecember 31, 2036
Financial Plan Assumptions -Base
Property tax assessment growth of 2.77% per year
Population growth estimated at 0.5% increase per year
Pay-as-you-Go increases annually every year
Inflation of goods and services of 2%-2.5% per year
Tax rate reduced to 1.4450 by 2036
2026 Long
Tax rate reduction of 6 cents between 2027 and 2029
to reflect large portion of savings from special pension
Term
payments.
Strategic Plan funding remain stable at $1M annually
Financial
starting 2028
Interest rate on new borrowing at 3.5% per annum
Plan
Fiscal Capacity Funding fromPNB remains stable at
2026 level ($17.19M)
Capital Renewal Fund from PNB remains stable at
Update
anticipated 2029 level ($7.295M)
Annual borrowing levels to remain stable at $4.0M
annually starting 2032
Saint John Energy Burchill windfarm benefit to remain
stable at $1.2M annually
2026 Long Term Financial Plan Update
2028 End of Special Pension Payment Q1
Annual Savings Approx $11.7M
$1.0M 8.55%
$4.0M
34.19%
$6.7M
6 cents
57.26%
Property Tax Reduction
Infrastructure Deficit
Strategic Plan/Service Enhancements
Base Plan Vs Stretch Plan
City of Saint John
Long-Term Financial Plan Financial Targets
2027-2036
2026 Long
202620362036
SustainabilityBudgetBaseStretch
Debt per Capita$ 815$ 562 562
Term
Assessment Growth1.5%2.8%5.0%
Debt Service Ratio6.3%3.4%3.2%
Total Debt as a % of Operating Budget31.1%19.3%17.8%
Financial
Infrastructure Deficit - Projected 2036 (Millions)$ 159.66$ 71.83$ 62.81
Plan
Flexibility
Tax Rate$ 1.535$ 1.445$ 1.287
Pay-as-you-Go (Millions)$ 6.00$ 17.62$ 25.20
Update
New Capital (Millions)$ 3.50$ 4.48$ 5.84
Vulnerability
Cumulative Debt Reduction (Millions since 2019)$ 39.8$ 54.3$ 56.70
Operating Reserves Total Balance (Millions)$ 7.7$ 7.7$ 7.7
Unconditional Grant % of Revenue8.4%7.1%6.5%
2027-2036 Base Case Long Term Financial Plan
CityofSaintJohnµ
10YearPlanKeyPerformanceIndicators
BaseModel
2027F2028F2029F2030F2031F2032F2033F2034F2035F2036F
PropertyTaxRate 1.535 1.495 1.475 1.475 1.460 1.455 1.450 1.450 1.445
1.445
WageEscalationPolicy
Allowable % Increase3.250%2.357%2.773%2.774%2.775%2.776%2.778%2.779%2.780%2.795%
Allowable $ Value 2,648,393 1,981,138 2,138,718 2,105,713 2,164,946 2,225,864 2,288,516 2,352,952 2,419,223 2,500,116
Forecast $ Increase 2,558,198 (6,931,111) (1,218,641) 2,105,713 2,164,946 2,225,864 2,288,516 2,352,952 2,419,223 2,500,116
Result
DebtPerCapita
Forecast 805 797 790 853 793 735 681 637 602
562
Target 820 800 800 800 800 750 700 650 610
575
Result
DebtServiceRatio
Forecast 5.6%5.6%5.5%5.1%5.3%4.8%4.5%4.0%3.6%3.4%
Target6.0%6.0%5.8%5.3%5.3%5.0%4.8%4.3%3.8%3.5%
Result
DebtOutstandingasa%ofOperatingBudget
Forecast 30%30%30%32%29%27%24%22%21%19%
Target32%32%32%32%30%30%25%25%23%20%
Result
AmountHeldinGeneralOperatingReserve-Totalheldreservesasa%ofprioryearbudgetedexpenditures
Forecast 7,296,531 7,296,531 7,296,531 7,296,531 7,296,531 7,296,531 7,296,531 7,296,531 7,296,531 7,296,531
Target 5,125,974 5,213,684 5,212,112 5,272,892 5,391,131 5,468,413 5,576,875 5,687,898 5,817,544 5,934,320
Result
InfrastructureDeficitReduction
Forecast 17.0%25.7%30.6%34.8%37.3%39.9%42.7%46.2%50.0%54.3%
Target17.5%20.0%25.0%25.0%30.0%35.0%35.0%35.0%35.0%35.0%
Result
Pay-As-You-Go
Forecast 6,000,00010,022,37511,700,00012,715,00013,895,00014,545,000 14,750,000 16,155,000 16,792,500 17,615,000
Target 9,000,00010,000,00011,000,00012,000,00013,000,00014,000,000 14,500,000 15,500,000 16,500,000 17,500,000
Result
BalanceofGeneralCapitalReserve
Forecast 24,570,68927,570,68930,570,689 9,570,689 9,570,689 9,570,689 9,570,689 9,570,689 9,570,689 9,570,689
Result
AnnualBorrowingandDebtBalance
Borrowing 9,000,000 9,000,000 9,000,00014,000,000 4,500,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000
Debt Balance 63,228,00062,927,00062,720,00068,013,00063,510,66659,198,333 55,100,333 51,792,666 49,221,333 46,845,333
2027-2036 Stretch Case Long Term Financial Plan
CityofSaintJohnµ
10YearPlanKeyPerformanceIndicators
Stretch
2027F2028F2029F2030F2031F2032F2033F2034F2035F2036F
PropertyTaxRate 1.510 1.445 1.395 1.375 1.345 1.320 1.305 1.305 1.287
1.287
WageEscalationPolicy
Allowable % Increase3.250%3.250%3.250%3.250%3.250%3.250%3.250%3.250%3.250%3.250%
Allowable $ Value 2,648,393 2,731,534 2,506,273 2,466,667 2,546,834 2,629,606 2,715,068 2,803,308 2,894,416 2,988,484
Forecast $ Increase 2,558,198 (6,931,111) (1,218,641) 2,466,667 2,546,834 2,629,606 2,715,068 2,803,308 2,894,416 4,597,668
Result
DebtPerCapita
Forecast 805 797 790 853 793 735 681 637 602
562
Target 820 800 800 800 800 750 700 650 610
575
Result
DebtServiceRatio
Forecast 5.6%5.5%5.4%5.1%5.2%4.7%4.4%3.8%3.4%3.2%
Target6.0%6.0%5.8%5.3%5.3%5.0%4.5%4.0%3.8%3.5%
Result
DebtOutstandingasa%ofOperatingBudget
Forecast 30%30%30%31%28%26%23%21%19%18%
Target32%32%32%32%30%30%25%25%23%20%
Result
AmountHeldinGeneralOperatingReserve-Totalheldreservesasa%ofprioryearbudgetedexpenditures
Forecast 7,671,531 7,671,531 7,671,531 7,671,531 7,671,531 7,671,531 7,671,531 7,671,531 7,671,531 7,671,531
Target 5,125,974 5,213,684 5,212,112 5,272,892 5,391,131 5,468,413 5,576,875 5,687,898 5,817,544 5,934,320
Result
InfrastructureDeficitReduction
Forecast 17.0%26.0%31.0%35.3%37.9%40.7%44.5%49.8%56.2%63.9%
Target17.5%25.0%30.0%30.0%35.0%35.0%40.0%45.0%50.0%60.0%
Result
Pay-As-You-Go
Forecast 6,050,00010,677,37512,000,00013,000,00014,000,00015,000,001 17,000,000 20,000,000 22,594,000 25,196,000
Target 9,000,00010,000,00011,000,00012,000,00013,000,00014,000,000 14,500,000 15,500,000 16,500,000 17,500,000
Result
BalanceofGeneralCapitalReserve
Forecast 24,961,68928,476,68931,616,68910,679,68910,972,68911,341,689 11,397,889 13,829,679 16,288,369 19,760,829
Result
AnnualBorrowingandDebtBalance
Borrowing 9,000,000 9,000,000 9,000,00014,000,000 4,500,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000
Debt Balance 63,228,00062,927,00062,720,00068,013,00063,510,66659,198,333 55,100,333 51,792,666 49,221,333 46,845,333
Long Term Financial Plan Journey
2036 LTFP 2036 LTFP
MeasureDirection20192026
Target Base Target Stretch
Lower is
Tax Rate$1.785$1.535$1.445$1.287
better
Debt per Lower is
$1516$815$575$575
Capitabetter
Debt Service Lower is
10.36%6.3%3.4%3.4%
Ratiobetter
Total Debt as
a % of Lower is
64%31%20%20%
Operating better
Budget
Lower is
Debt Balance$102.41M$63.70M$46.85M$46.85M
better
Summary
The plan is working both -2023 update and
2026 update resulted in actual results
exceeding targets.
Although 2026 resulted in lower property
2026 Long
assessment than expected, following the plan
allowed Council to approve a budget that met
all financial policies, operational needs and a
Term
tax reduction.
Financial
The plan will form the Financial roadmap for
the next Council over the next few years.
Plan
Staff will be back in April to bring final plan and
policy updates based on Committee feedback
Update
file this presentation and direct any questions
2026 Long
Term
Questions?
Financial
Plan
Update
CityofSaintJohnLongTermFinancialPlan
2027-2036
1
Table of Contents
Introduction 3 Conclusion 29
Financial Environment Discussion & Analysis 4 Appendices 31
!ƦƦĻƓķźǣ !ʹ /ƚǒƓĭźƌƭ tƩźƚƩźƷźĻƭʹ ЋЉЋЊΏЋЉЋЏ ЌЋ
Opportunities 10 Appendix B: 10 Year Strategic Plan 34
Appendix C: Base Case Model Output 36
Financial Principles 13 Appendix D: Stretch Case Model Output 37
Appendix E: Allocation of Special Pension Payment 38
Savings
Policies 15
Priorities and Strategic Plan 19
Financial Targets 21
Financial Strategy 23
Financial Health Monitoring 27
2
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
Introduction
Common Council passed its first Long Term Financial Plan in December 2019. The Strategic Plan makes a conscious commitment to update, develop and
implement community and service plans and evaluate those plans to ensure all
The pla n was implemented to address challenges in the following key areas:
ƦƌğƓƭ ğƩĻ ƦƩƚƦĻƩƌǤ ƩĻƭƚǒƩĭĻķ ğƓķ ĬğƌğƓĭĻķ Ʒƚ ğĭŷźĻǝĻ ƷŷĻ /źƷǤ ƚŅ {ğźƓƷ WƚŷƓƭ
1. Stagnate tax base and population growth
desired outcomes. The Strategic Plan is a living document intended to help Saint
2. The restrictions of the New Brunswick property tax system
John grow upward and create a place where everyone can thrive over the next
3. The rising costs of labour and high debt service costs
10 years and beyond. LƷ Ĭǒźƌķƭ ƚƓ ƷŷĻ /źƷǤƭ ǝźƭźƚƓ ğƓķ ƒźƭƭźƚƓ Ʒƚ ĻƭƷğĬƌźƭŷ ƷŷĻ
4. The rising infrastructure deficit
overarching strategic direction that will guide all other operational planning.
In addition to the challenges, there were several barriers that were also
Municipal action guided by the goals identified in the Strategic Plan will be
identified.
regularly updated to reflect the evolving needs, opportunities and challenges
facing the community to ensure the City is focused on the right actions at the
1. Restrictive Collective Agreements
right time.
2. Binding Arbitration
3. No Flexibility in operating expenses
The Strategic Plan provides direction to ensure the City continues to keep other
4. Significant funding of temporary pension payments
strategic plans and related policies current and up to date, while managing
5. Significant debt load
resources so it can implement their respective recommendations. These
6. Infrastructure deficit
ƭǒƦƦƚƩƷźƓŭ ƦƌğƓƭ źƓĭƌǒķĻ ƷŷĻ /źƷǤƭ aǒƓźĭźƦğƌ tƌğƓ ΛtƌğƓ{WΜͲ ƩğƓƭƦƚƩƷğƷźƚƓ tƌğƓ
7. New Deal obligations
(MoveSJ), Parks & Recreation Plan (PlaySJ), Long-Term Financial Plan, City
8. Geographic footprint
Market Strategic Plan and Climate Plans.
9. Cost of industry
The implementation and adherence to the long-term financial plan over the
The Strategic Plan guides service areas in the development of their work plans
past six years has allowed the City to address several challenges and barriers
over the next 10 years (strategies, actions, and initiatives) and alignment of
identified. The City achieved population growth, higher than expected tax
budgets to achieve the stated goals and objectives. The City is committed to
assessment growth, property tax reforms, higher housing demands, and has
implementing the plan, ensuring resources are invested in a balanced manner
been able to reduce the tax rate to $1.535.
over the course of its lifespan. The success of the plan assumes a continued
healthy growth rate for the City of Saint John, as well as a disciplined approach
These achievements exceeded the assumptions built into the current long-term
to funding major projects, with planning to start well in advance of anticipated
financial plan that was updated in 2023.
timelines.
The 2026 update to the Long-Term Financial Plan will update existing financial
The 2027-2036 Long Term Financial Plan will offer updated financial strategies
targets and goals, while continuing to adhere to existing financial policies. One
to ensure the City can sustainably resource the Ten-Year Strategic Plan in these
of the major factors that will drive the financial plan is the 2023-2032 Ten Year
ǒƓĭĻƩƷğźƓ ĻĭƚƓƚƒźĭ ƷźƒĻƭ ǞŷźƌĻ ƌĻǝĻƩğŭźƓŭ ƭƷƩĻƷĭŷ ŭƚğƌƭ Ʒƚ źƓĭƩĻğƭĻ ƷŷĻ /źƷǤƭ
Strategic Plan that was approved by Common Council in 2022.
competitiveness.
3
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
Financial Environment Discussion & Analysis
4
Financial Environment Discussion & Analysis
1.2023-2032 Ten Year Strategic Plan - Creating a Place to Thrive:
źĬƩğƓƷ Α \[ĻǝĻƩğŭźƓŭ 9ƓǝźƭźƚƓ {ğźƓƷ WƚŷƓ źƓ ƦƩƚƒƚƷźƓŭ ĻǣƦğƓƭźƚƓ ğƓķ
promotion of arts and culture in branding and tourism. Support for the
OurCommitmenttotheCommunity
Saint John Theatre Company with grant commitment for new Theatre,
implementing five new enhanced recreational programs (Pickleball Court,
The long-term financial plan will continue to center around the 10-year
Sunshine Programs). Continued implementation of the Affordable Housing
strategic plan approved by the Common Council in 2022. The long-term
Action Plan, enhancing Councils Community Champion Award.
financial plan will balance the funding of resources needed for the
strategic plan, while ensuring the City continues to be financially
tƩƚƭƦĻƩƚǒƭ Α ŷĻ /źƷǤ ŅźƓźƭŷĻķ ǞźƷŷ ƷŷĻ ƩĻķĻǝĻƌƚƦƒĻƓƷ ƚŅ ağƩƉĻƷ {ƌźƦͲ ƷŷĻ
sustainable.
implementation of the City Market Strategic Plan is well underway, the
ŅƩğƒĻǞƚƩƉ ŅƚƩ ƷŷĻ bƚƩƷŷ 9Ɠķ bĻźŭŷĬƚǒƩŷƚƚķ tƌğƓ źƭ ĭƚƒƦƌĻƷĻķͲ ƷŷĻ /źƷǤƭ
The strategic plan sets out four goals to achieve the vison for serving Saint
tax rate has been reduced by 25 cents since implementation of the long-
John
term financial plan. Some municipal reform has been implemented such
1.Vibrant - We value a city that pulsates with life through arts,
as stable Fiscal Capacity Funding and Capital Renewal Funding.
culture, recreation, education, employment, innovation, and
diversity.
{ĻƩǝźĭĻ Α ƷŷĻ źƓƷĻŭƩğƷĻķ /ǒƭƷƚƒĻƩ {ĻƩǝźĭĻ /ĻƓƷƩĻ źƭ ŅǒƌƌźƓŭ ƚƦĻƩğƷźƚƓğƌͲ ƷŷĻ
2.Prosperous - We are creating an environment where all our
City has made significant investments modernizing Saint John Transit
citizens, neighborhoods, natural spaces, and businesses thrive.
including electronic fares, on demand service, and electric buses. Main
3.Service - We are a professional public service and an engaged,
street active transportation corridor was completed in 2025. The City has
informed community working together to ensure quality and
continued investing annually in traffic calming measures such as speed
innovative service delivery that benefits all citizens in a growing
cushions. The Saint John Fire service review was completed, along with
Saint John.
additional security measures at City facilities including implementing card
4.!ĭĭƚǒƓƷğĬƌĻ Α Ļ ğƩĻ ĭƚƒƒźƷƷĻķ ǞźƷŷ ƚǒƩ ƦğƩƷƓĻƩ ğŭĻƓĭźĻƭͲ
access.
boards and commissions to demonstrate transparency in financial
stewardship, performance management and reporting outcomes
Accountable - Enhanced reporting of agencies, boards and commissions
so taxpayers and customers see value in their investments.
with implementation of ABC policy. The implementation of an internal
audit team has resulted in significant savings such as the Trade and
Each goal within the strategic plan lists the objectives and actions to be
Convention Centre contract. Staff brought forward the first 5-year capital
undertaken to reach the goals set out in the plan. The objectives and
plan in 2025, that will be updated annually through the annual capital
actions are to be undertaken over the term of the plan. Many of the
budget approval process. Work on the 10-year Human Resource Strategy
objectives and actions in the strategic plan have a financial component.
is continuing, along with enhancement of employee recognition. (Annual
Examples of achievements to date in the plan include but are not limited
..v ğƷ .ƚĬĬǤƭ IƚƭƦźĭĻͲ /ŷƩźƭƷƒğs Breakfast, BRAVO recognition).
to;
5
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
2. Economic Conditions
Inflation and Interest Rate Risk and Tariffs
FIGURE 1 - BANK OF CANADA INTEREST RATES
In 2025, the Province had an average annual CPI of 1.7% down significantly
Date*Target (%)Change
from the historical annual CPI in 2023 and 2024. 2025 saw more stable CPI
index largely due from the removal of the Federal Carbon Tax resulting in
28-Jan-26
2.25---
a sharp drop in in fuel prices. There is continued pressure on CPI largely
10-Dec-25
2.25---
due to continued cost of shelter, electricity and food.
29-Oct-25
2.25-0.25
17-Sep-25
2.50-0.25
Home prices and rental costs have continued to remain strong and
30-Jul-25
2.75---
housing affordability continues to be an issue in Saint John. The City
4-Jun-25
2.75---
reduced the property tax rate from $1.785 to $1.535 per $100 of assessed
16-Apr-25
2.75---
value over the past 5 years, recognizing the tax burden on residential
12-Mar-25
2.75-0.25
homeowners due to the current real estate market.
29-Jan-25
3.00-0.25
Interest rates have dropped since the last update to the plan as shown in
11-Dec-24
3.25-0.50
Figure 1. Interest rates can increase cost of debt which impacts how the
23-Oct-24
3.75-0.50
City funds its Capital program. The Long Term Financial Plan mitigates this 4.25-0.25
4-Sep-24
4.50-0.25
24-Jul-24
risk by reducing reliance on debt to fund capital and increasing pay as you
5-Jun-24
4.75-0.25
go.
10-Apr-24
5.00---
In 2025, the United States elected Donald Trump as President and one of
6-Mar-24
5.00---
the administrations main objectives was to implement additional tariffs.
24-Jan-24
5.00---
The additional tariffs has created a lot of business uncertainty and
6-Dec-23
5.00---
negative impacts on inflation. The tariffs have an impact on the cost of
25-Oct-23
5.00---
goods for business and ultimately the consumer which can fuel
6-Sep-23
5.00---
inflationary pressures. A war was launched by the US and Isreal in March
12-Jul-23
5.000.25
2026 with Iran which will have a significant impact on fuel cost and will
7-Jun-23
4.750.25
drive the cost of goods and services up.
4-Apr-23
4.50---
8-Mar-23
4.50---
New Brunswick has a large exposure and vulnerability to this risk as 90%
25-Jan-23
4.500.25
of NB exports go to the United States. Saint John has been identified as
7-Dec-22
4.250.50
ƚƓĻ ƚŅ /ğƓğķğƭ ƒƚƭƷ ƷğƩźŅŅΏĻǣƦƚƭĻķ ĭźƷźĻƭ ķǒĻ Ʒƚ źƷƭ ƩĻƌźğƓĭĻ ƚƓ ŷĻğǝǤ
26-Oct-22
3.750.50
industry and cross border trade. These unknown factors can have a direct
14-Sep-22
3.250.75
impact on the City and its property tax revenues.ConsumerPriceIndexMonthly-
IndiceDesPrixALaConsommationMensuel1.pdf 2.501.00
13-Jul-22
6
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
3. The Restrictions of the New Brunswick Property Tax System
Property tax revenues account for 77% of total City revenues (2026
FIGURE 2 - 2026 PROPERTY TAX RATES
General Fund Operating Budget). Both the previous Council and current
Saint John RothesayQuispamsisFrederictonMoncton
Council have continued to push for changes to the property tax system.
The current property tax system does not allow the City to enter vacated
ResNon-ResResNon-ResResNon-ResResNon-ResResNon-Res
provincial tax room due to the limit on the multiplier. The need for the City
NB Rate0.5617 1.8560 0.5617 1.8560 0.5617 1.8560 0.5617 1.8560 0.5617 1.8560
to enter this room is an important issue for the City as it continues to
Municipal1.5350 2.6095 1.1700 1.9890 1.2599 2.1418 1.3086 2.2246 1.3614 2.3144
manage significant infrastructure, new social responsibilities such as
Total 2.0967 4.4655 1.7317 3.8450 1.8216 3.9978 1.8703 4.0806 1.9231 4.1704
affordable housing and homelessness. Figure 2 compares the tax rate in
*Owner-occupied residential properties do not pay the 0.5617 provincial rate
Saint John to other municipalities in New Brunswick.
There have been some reforms implemented by the Provincial
FIGURE 2.1 - TAX BASE GROWTH
Government. On May 31, 2022, legislative amendments were introduced
that would establish a new tax classification for Heavy Industrial and Non-
Residential to allow local governments and rural districts to establish a
local tax rate between 1.4 and 1.7 times the residential rate. This change
eliminated the fixed 1.5 rate established by the Province on these two
classes only. For the 2026 Operating Budget, Council approved a rate of
1.7 times for Heavy Industry and Non-Residential.
There are still significant challenges in terms of tax burden on residential
properties versus non-residential and Industrial properties. Figure 2.1
ĭƚƒƦğƩĻƭ ƷŷĻ /źƷǤƭ Ʒğǣ ĬğƭĻ ŭƩƚǞth from 2019 to 2026. Residential tax
base has increased by 47.42% versus 18.46% for non-residential and
12.33% for Industrial tax base cumulatively from 2019 to 2026. Residential
homeowners, despite the decrease in the property tax rate reductions,
still account for the largest portion of increased property tax revenues.
7
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
In Saint John, industrial assessment base has increased by approximately $63 formula, elimination of core funding component and indexing equalization
million when comparing 2018 to 2026. Figure 2.2 highlights the assessment payments to the Provincial Growth.
value year over year. The Gardner Pinfold Industrial Report released on
Other recommendations from the expert panel included the Province should
January 20, 2020, summarized the following cost recovery observations by
review its property tax assessment process and as part of Phase 2 of the
generating tax revenue from Industrial tax base.
Comprehensive Property Tax Reform, that municipalities need to generate
1. Direct Costs - $2.5 million for roads, $1.2 million for fire, and not more sources of revenue and there should be exploration of transferring
quantified for Police more property tax room, cannabis revenue sharing, enhancing HST rebate
2. hƦƦƚƩƷǒƓźƷǤ /ƚƭƷƭ Α ǒƦ Ʒƚ υЌЋ ƒźƌƌźƚƓ for lost residential property tax for municipalities and property tax exemption for local government
revenues and lost residential properties properties.
3. .ĻƓĻŅźƷƭ Α !ĬƚǒƷ υЊЋ ƒźllion in municipal tax revenue from heavy
The Province announced in 2025 a new funding model to replace the
industrial properties.
Community Grant and Equalization payment. The Fiscal Capacity Funding
The current legislation exempts most machinery and equipment from model resulted in Saint John receiving an additional $4.38M on top of the
property taxes. Given the prevalence of heavy industry in Saint John, an amount received as Community Grant and Equalization payment in 2025.The
industry that has a large proportion of machinery and equipment would have Province has also committed to a Capital Renewal Fund for municipalities to
a significant impact on City tax revenues if taxed. Another example of lack of address the significant infrastructure deficit and to a complete overhaul of
control or risk in setting rates occurred in 2026 when NB Powers Coleson the existing property tax system in 2027 after the assessment freeze
Cove had its assessment reduced by $22M which will result in a loss of implemented for 2026.
approximately $574K in 2027 for the City.
FIGURE 2.2 - HEAVY INDUSTRIAL PROPERTY TAX
Figure 2.2 shows how much Industrial Property Tax was actually paid to the
City. Property tax rate was reduced each year due to significant tax burden
of residential. Due to the City having no control over the tax differential, this
class paid less property taxes in 2024 and 2025 and an overall tax increase of
$53.5K (0.372%) from 2023 to 2026, despite an overall assessment increase
of 5.93%. With the new assessment for Coleson Cove, any gains in industrial
taxes will be wiped out and Industrial Tax revenue will likely be negative year
over year in 2027.
The Provincial Government developed a white paper late in 2021 recognizing
the equalization formula would need to be adapted for the new local
governance structure. An expert panel was formed and tasked with
identifying, assessing, and proposing options for a new system of fiscal
transfers between the Province and Local Government. A report was
published in September 2022, with recommendations that included a new
8
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
4. Affordable Housing and Housing Supply 5. Homelessness/Social Responsibility/Public Safety
Affordable housing and housing supply issues continues to a predominate
Saint John has seen a significant rise in homelessness, social related issues
issue in Saint John and in much of Canada as recovery from the COVID
such as mental health and drug abuse that is a very challenging issue for
pandemic continues. The Saint John region has benefited from an increase in
residents, Council and protective services. The City has put a lot of staff and
international and interprovincial migration and has put pressure on housing
financial resources into addressing these issues and unfortunately these
demand and supply.
issues while being addressed, will not be easily solved.
Average home price in Saint John was $366,989 2025 vs $340,097 in 2024.
The impact on financial resources cannot be understated. The City now must
(https://blog.remax.ca/saint-john-housing-market-outlook/) and as result of
invest in more security guards for several of City facilities, such the City
ƷŷĻ źƓĭƩĻğƭĻ źƓ Ʒŷźƭ ƩĻğƌ ĻƭƷğƷĻ ƒğƩƉĻƷ ƷŷĻ /źƷǤƭ Ʒğǣ ĬğƭĻ ŷğƭ ŭƩƚǞƓ ƒǒĭŷ
Market and Customer Service. There has been more Police hired which
higher than expected except in 2026, the Province froze assessments.
formed the Quick Response Team, to focus on the more challenging areas of
the City. Most recently the City created a Community Safety Service team to
LƓ {ĻƦƷĻƒĬĻƩ ƚŅ ЋЉЋЋͲ ƷŷĻ /źƷǤƭ DƩowth Committee released a draft
address emerging and escalating community safety concerns through
Affordable Housing Action Plan. The plan highlighted some of the most
coordinated, non policing responses and targeting interventions.
relevant trends in Saint John
There has also been investment by the City to assist with providing Outreach
1. Recent growth and changing demographics
services along with various temporary or transitional housing services. Along
2. Escalating rental costs and house prices
with the services the City is providing, there is also significant cost being
3. Diminished housing access and affordability
incurred annually with homeless encampments in terms of monitoring sites,
4. Emerging challenges, gaps and barriers within the housing market
Public Safety responses and cost of cleaning up sites when vacated.
This City, along with funding commitments from the Federal and Provincial
This issue takes away the focus on thĻ /źƷǤƭ ĭƚƩĻ ĬǒƭźƓĻƭƭ ğƓķ ŷğƭ ŷğķ ğ
Government have undertaken several strategies to increase access to
large impact on staff resources but also a significant impact on financial
affordable housing and increase housing supply. The Housing Accelerator
resources which is not only putting pressure on the tax rate but diverting
Funding and Rapid Housing Initiative are Federal funding programs that are
funding from other core service delivery.
helping to address these challenges.
The outcome of the housing affordability and supply issue has created a
homelessness crisis in Saint John.
9
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
Opportunities
10
Opportunities
While the financial environment may be challenging, there are opportunities
from tourism, and transportation as the Commission continues to
available for the City. These prospects, if leveraged, will help address some
move forward.
of the financial challenges previously discussed.
January 1, 2023 tax reforms allowed Saint John to move the Heavy
Industrial and Non-Residential tax rate from 1.4 to 1.7 times the City
1. The End of the Shared Risk Pension Top-up Contributions
residential rate, from the fixed 1.5 rate.
On January 1st, 2013, the City converted its pension plan to a shared risk
January 1, 2026 Operating and Capital budgets include additional
model. The objective of this new plan was to attain a minimum funded ratio
stable funding due to the Provincial announcement of new Fiscal
of 150% (as calculated under Pension legislation). To achieve this ratio, the
Capacity Funding and Capital Investment Funding.
City is required to make additional contributions over and above its annual
3. Catalytic Projects and Advocacy
required contributions. As such, the city has been required to make an
additional 17% of employee earnings for a period of 15 years. This additional
Common Council is committed to working across all levels of government
contribution is typically approximately $10 million. These payments end after
ğƓķ ƭĻĭƷƚƩƭ Ʒƚ ǒƓƌƚĭƉ ƷŷĻ /źƷǤƭ ğƓķ ƩĻŭźƚƓƭ ŭƩƚǞƷŷ ƦƚƷĻƓƷźğƌ͵ /ƚǒƓĭźƌ ŷğƭ
the first quarter in 2028.
identified four catalytic infrastructure projects.
2. Ongoing Municipal Reform
1. LƓƓƚǝğƷźǝĻ /ĻƓƷƩğƌ tĻƓźƓƭǒƌğ \[ĻğƩƓźƓŭ /ƚƒƒƚƓƭ Α ŷĻ ƓĻǞ ǒƩĬğƓ
school will also be a community hub to support and revitalize the
The provincial government presented and released its white paper in 2021,
south-central peninsula neighbourhood.
ͻƚƩƉźƓŭ ƷƚŭĻƷŷĻƩ ŅƩƚƒ ǝźĬƩğƓƷ ğƓķ ƭǒƭƷğźƓğĬƌĻ ĭƚƒƒǒƓźƷźĻƭͼ͵ ŷźƭ ƩĻƦƚƩƷ
2. wĻķĻǝĻƌƚƦƒĻƓƷ ƚŅ CǒƓķǤ vǒğǤ Α {źte work is well underway with
presented various items for municipal reform, however the most important
construction beginning in 2023. This mixed used project will
Ʒƚ {ğźƓƷ WƚŷƓƭ ŅźƓğƓĭźğƌ ŷĻğƌƷŷ ĭƚƓƭźƭƷĻķ ƚŅ ƷŷĻ ŅƚƌƌƚǞźƓŭ͵
ƷƩğƓƭŅƚƩƒ {ğźƓƷ WƚŷƓƭ ǒƩĬğƓ ǞğƷĻƩŅƩƚƓƷ ğƓķ ĬƚƚƭƷ ƷƚǒƩźƭƒ͵
Regional Service Commission: The mandates were expanded to
3. bĻǞ /ƚƒƦƩĻŷĻƓƭźǝĻ wĻĭƩĻğƷźƚƓğƌ CğĭźƌźƷǤ Α ! ƌğƩŭĻ ƒǒƌƷźƦǒƩƦƚƭĻ
include economic development, community development, regional
facility will also replace aging arenas. The more modern facility will
tourism promotion, regional transportation and cost sharing of
not only improve community wellness and service but boost
regional recreation infrastructure. The new Fundy Regional Service
attractiveness to our region.
Commission came into effect, January 1, 2023. The most significant
4. LƓǝĻƭƷƒĻƓƷ źƓ LƓķǒƭƷƩźğƌ tğƩƉƭ Α ŷĻ /źƷǤ źƭ ƌƚƚƉźƓŭ Ʒƚ ĻǣƦğƓķ ƌğƓķƭ
benefit was operating costs and capital costs for all regional facilities
and investments in its industrial parks to fuel economic growth by
would now be part of the contributions made by municipalities
attracting new businesses and skilled workers.
annually. There are opportunities for Saint John to receive benefits
Common Council has also approved four catalytic advocacy efforts;
continued comprehensive tax reform, matching dollars for bilateral funding,
affordable housing, and post-secondary education.
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CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
4. Saint John Energy Growth Agenda
Saint John Energy began in 2012 to strategically reposition the company to in Canada. This investment is expected to create up to 100 jobs by the end
meet the technological change and societal expectations for the utility while of 2029.The growth will support regional suppliers and contractors,
still maintaining the traditional services and benefits for the Saint John developing clustering opportunities to related businesses and generate tax
ĭƚƒƒǒƓźƷǤ͵ {ğźƓƷ WƚŷƓ 9ƓĻƩŭǤ ƦǒĬƌźƭŷĻķ ƷŷĻźƩ ƭƷƩğƷĻŭǤ ŅƚƩ ŭƩƚǞƷŷͲ ͻ9ƓƭǒƩźƓŭ revenue. The potential of business growth, job growth and expansion of
ğ {ǒƭƷğźƓğĬƌĻ CǒƷǒƩĻͼ źƓ ЋЉЊВ͵ business will lead to potential property tax growth.
The strategy lays out initiatives across three broad categories. 6. North End Neighborhood Plan
1. Renewable energy generation and storage City staff completed the first draft of the North End Neighborhood Plan and
2. Smart energy services for consumers was brought forward to Common Council in December 2025. The density of
3. Strategic partnership opportunities. development will be a key element in the success of the plan. The benefits of
density can expand customer base for local businesses, broaden the pool of
As the owner, the City of Saint John receives benefits of approximately $2
employment opportunities, activate public spaces and street and ensure
million annually in energy savings. Saint John Energy has undertaken a
infrastructure investments by the City and other partners are financially
project with a private partnership to build a wind farm known as the Burchill
viable.
Wind Farm that has a direct financial benefit of approximately $14.47 million
from 2026-2035. This benefit has been built into the updated financial plan. The plan for the North End will help address the housing shortage, the
affordability of housing and rental units and be a catalyst for investment and
Under this agenda and a new structure for Saint John Energy, the return on
revitalization of the area which in turn will increase property tax revenues for
equity would contribute to additional growth opportunities aligned with
the City.
ŭƚǝĻƩƓƒĻƓƷ ƦƚƌźĭǤ ğƓķ ƷŷĻ /źƷǤƭ ƭǒƭƷğźƓğĬźƌźƷǤ͵ ŷĻ ŭƚğƌ ƚǝĻƩ ƷźƒĻ źƭ Ʒƚ ŷĻƌƦ
the City reduce reliance on property tax revenue and the Provin cial 7. Enterprise Resource Planning/Enterprise Risk Management/Performance
Community Capacity Funding. Management
5. Saint John Port Expansion The City is embarking on replacing its enterprise resource planning system
starting in 2026. This is a generational transformation for the City allowing
The Saint John Port completed in 2024 a $205 million initiative that has
improved financial reporting, creating operational efficiency, better
significantly expanded capacity and caƦğĬźƌźƷźĻƭ Ʒƚ ƭƷƩĻƓŭƷŷĻƓ ƷŷĻ tƚƩƷƭ
workflows, increased data security. This will play a key role in better
position as part of the Atlantic Gateway.
performance management that is critical to increasing productivity,
employee engagement, continuous improvement and decision making for
The resulting growth in container cargo is expected to create an additional
the operation of the City. The last key initiative is the continued
500 jobs over time. Industry has undertaken to modernize its existing
implementation if the Enterprise Risk Management System. All three of
transportation and rail operations as part of Logistics Park.
these key initiatives will transform how the City operates, performs, makes
Americold, a global leader in temperature-controlled logistics and
decisions and provide value to the taxpayers of Saint John.
warehouses is building its first Import-Export Hub at Port Saint John, its first
12
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
Financial Principles
13
Financial Principles
The current financial state of the City of Saint John did not happen overnight. The only way to continued long-term financial security is to diligently plan
In fact, the road that has led to the present day is comprised of many factors and then continue to execute over the long-term. Four key financial
and encompasses numerous decisions. The approval of a 10-year long term principles have been identified: Sustainability, Flexibility, Vulnerability and
financial plan in 2019 has put Saint John on a path of long-term financial Accountability.
sustainability. These principles remain the same for the updated plan.
Principle Description & Importance Implementation
Long-Term Sustainability
ͻ{ǒƭƷğźƓğĬźƌźƷǤ ŅƚĭǒƭĻƭ ƚƓ ƒĻĻƷźƓŭ ƷŷĻ ƓĻĻķƭ ƚŅ Ensure goal congruence Α operating & capital budgets, debt management &
the present without compromising the ability of expenditures take into account the overall organizational long-term financial
2
ŅǒƷǒƩĻ ŭĻƓĻƩğƷźƚƓƭ Ʒƚ ƒĻĻƷ ƷŷĻźƩ ƓĻĻķƭ͵ͼstrategy.
A decision that may benefit the short-term may Maintaining appropriate reserve fund balances
not necessarily be good for the long-term. This
Evaluation of long-term impact of decisions. Dismissing options that are
principle ensures that due care is taken to evaluate
detrimental to long-term sustainability.
future considerations.
Exercising fiscal responsibility as it pertains to affordability and debt
management.
Increased Flexibility
Flexibility is the ability to cover expenditures while The reduction of infrastructure deficit has increased flexibility.
still having funds available for reserves, debt
Reducing debt load will reduce principal and interest payments.
repayment, .and other opportunities
It is important to maintain a structurally sound
operating budget where operating revenues
naturally exceed operating expenditures to ensure
the ability to meet future spending needs.
Reduced Vulnerability
ŷĻ ĭźƷǤ ƓĻĻķƭ Ʒƚ ƩĻķǒĭĻͲ źŅ ƓƚƷ ĻƌźƒźƓğƷĻ źƷƭ ƓĻĻķ To eliminate the reliance on provincial equalization to fund day-to-day
of provincial government funding through the operations.
equalization grant to meet its basic spending
To be able to fund demands of tax base without the need for outside assistance.
needs.
The ability to grow own source revenue to cover
required expenditures
Accountability
!ĭĭƚǒƓƷğĬźƌźƷǤ ƒĻğƓƭ ƷŷğƷ ƷŷĻ /źƷǤƭ {ĻƓźƚƩ Establishment of clear financial indicators that evaluate actual results compared
Leadership and Council must be responsible to all to planned results.
stakeholders for the actions and results of this
Monitoring of results on a regular basis.
plan.
Making adjustments to goals, initiatives and actions when results are not
Accountability is important as it will ensure
consistent to desired outcome.
alignment of all departments and areas of the
organization to ensure compliance to the plan.
2
https://www.investopedia.com/terms/s/sustainability.asp
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CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
Policies
15
box
Policies
The purpose of having a long-term financial plan is to have a road map to will only be issued to finance projects approved in the Capital Budget and the
ƩĻğĭŷ ğ ķĻŅźƓĻķ ƭĻƷ ƚŅ ŭƚğƌƭ͵ LƓ ƷŷĻ /źƷǤƭ ĭğƭĻͲ ƷŷĻ ƓǒƒĬĻƩ ƚƓĻ ŭƚğƌ źƭ Ʒƚ ĬĻ /ğƦźƷğƌ LƓǝĻƭƷƒĻƓƷ tƌğƓ Α ƓĻǝĻƩ Ʒƚ ŅǒƓķ ƚƦĻƩğƷźƓŭ ƚƩ ƒğźƓƷĻƓğƓĭĻ ĭƚƭƷƭ͵ ŷĻ
financially sustainable. A number of best practice policies have been adopted other key limits and targets are as follows:
by council to help achieve this goal. These policies are meant to follow
Limits (From the New Brunswick Local Governance Act):
several key financial values:
Borrowings in any one year shall not exceed:
1. Dont Spend More Money than you make
4% of budget or $15k per year, whichever is greater
2% of the assessed value of real property
If every year a person uses credit cards to pay for things that they need, but
Total amount borrowed shall not exceed 6% of the assessed
ĭğƓƷ ğŅŅƚƩķͲ ƷŷĻǤ Ǟźƌƌ ķźŭ ƷŷĻƒƭĻƌǝĻƭ ğ ŅźƓğncial hole that will be very difficult
value of real property
to get out of. Every year, their debt levels will get higher and a larger portion
Key Performance Indicators of Debt Limits of the General Fund:
of their money will go to funding their minimum payments. That is why it is
Debt per Capita shall not exceed $1600
important to only spend the money you have made, thereby living within
The Debt Service Ratio shall not exceed 12%
your means. The Operating Budget Policy (FAS-004) was established to
Total debt outstanding as a percentage of the Operating Budget
strengthen financial sustainability and reduce financial vulnerability. It is
shall not exceed 70%
summarized as follows:
Targets to be achieved and maintained after 2036:
Maintain a structurally balanced budget: Recurring operating
Debt per Capita of $600
expenses should be covered by recurring operating revenues
The Debt Service Ratio to be 4.0%
The City needs to be able to function without having to rely on
Total debt outstanding as a percentage of the Operating Budget to be 25%
revenue sources outside of its control
One time revenues should only be used for one time expenses
3. Save your Money for a Rainy Day
2. Borrow Wisely
Everyone knows that surprises happen. There will always be unforeseen
expenses that will come up and sometimes the money to cover said expenses
While it would be great to be able to pay cash for everything, the reality is
will not be available. So, in order to ensure the City remains in compliance
that at some point or another debt will become a fact of life, especially when
with the Debt Management and Operating Budget policies, an Operating and
it comes to large ticket items such as houses or cars. The Debt Management
Capital Reserves Policy (FAS-003) was created. This policy allows the City to
Policy (FAS-006) sets out the acceptable conditions for the use of debt in
set aside money to use for future operating expenses and capital
addition to debt limits, targets and capacity. It stipulates that long-term debt
expenditures. The stipulations are:
16
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
5. Take Control of Your Expenses before they take Control of You
Reserves are meant to provide for:
Major unanticipated events
For the majority of people who do not receive significant pay increases every
Major Capital renewal
year, the smallest of increase in basic expenses such as rent, mortgage
Future Liabilities
payments and electricity have a major impact on their monthly spending.
One-time operating expenses which are greater than
Think about how hard it would be to manage if your rent increased by 3% or
$100,000 that are not part of the operating budget
so every single year, when your pay only increased by 1%. There will come a
Infrastructure deficit
point where living in your apartment will simply not be affordable any longer.
Investment growth opportunities
For the City, as described earlier in this report, total wage expenses have
been increasing at a much faster rate than revenue. It is to this end that the
4. Take Good Care of your Property
Wage Escalation Policy (FAS-007) was created. This policy is meant to ensure
that:
When you own a car, you know that routine maintenance such as changing
the oil and rotating the tires will help extend the life of your vehicle as well
The City spends within its means
as minimize the operating expenses in the long run. Also, once the car gets
Wage escalation does not cause a tax rate increase in order to
old, there is an optimal time to replace it before the maintenance charges
balance the General Operating Budget
become too high. City assets are very similar and for that reason, an Asset
Wage escalation does not cause a reduction in service levels in
Management Policy (FAS-001) was created. The specific objectives of the
order to balance the General Operating Budget
Asset Management Policy are to:
Wage escalation does not excĻĻķ ƷŷĻ /źƷǤƭ ğƭƭĻƭƭƒĻƓƷ ĬğƭĻ
growth
Improve the reliability of customer service by maintaining clearly
All employee groups are treated equitably
defined levels of service by maintaining assets in good condition
LƒƦƩƚǝĻ ƷŷĻ ķĻĭźƭźƚƓƭ ƩĻƌğƷĻķ Ʒƚ ƷŷĻ ƒğƓğŭĻƒĻƓƷ ƚŅ ƷŷĻ /źƷǤƭ
6. Fix the roof before you buy new living room furniture
assets
Improve the transparency and accountability of community
The Capital Budget Policy (FAS-005) of the City advises that the capital budget
źƓǝĻƭƷƒĻƓƷƭ źƓ ƷŷĻ ƒğƓğŭĻƒĻƓƷ ƚŅ ƷŷĻ /źƷǤƭ ğƭƭĻƷƭ
shall comprise of 80% capital renewal and 20% for new capital. It also
LƒƦƩƚǝĻ ƷŷĻ ƒğƓğŭĻƒĻƓƷ ƚŅ ƷŷĻ /źƷǤƭ ĻǣƦƚƭǒƩĻ Ʒƚ ƩźƭƉƭ ƚŅ ƩĻķǒĭĻķ
prescribes the priority in which capital money is spent each year, specifying
service delivery
that capital projects will be completed in the following order:
Facilitate the leveraging of partnerships and infrastructure funding
from external sources.
1. Mandatory
2. Risk
3. Priority of Council
4. Positive Financial Impact
5. Discretionary
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CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
This means that given the limited available money to spend, the leaky roof Committees based on funding. The policy was established to address an
will need to be replaced before new living room furniture can be purchased. opportunity of communication and build upon the mutual understanding
The Capital budget policy follows four key principles and strategies: ĬĻƷǞĻĻƓ !./ƭ ğƓķ ƦƩƚƒƚƷĻ ƷƩğƓƭƦğƩĻƓĭǤ͵
affordability, ownership, fiscal responsibility, and asset management.
7. Keep track of your money
The Budget Monitoring Policy (FAS-021) is a policy that enhances accuracy,
accountability and control by ensuring budget allocations are managed and
adhered to according to policy. The policy enhances fiscal responsibility and
ŅźƓğƓĭźğƌ ŅƌĻǣźĬźƌźƷǤ ĬǤ źƓƷĻŭƩğƷźƓŭ ĬǒķŭĻƷ ƒƚƓźƷƚƩźƓŭ ƦƩğĭƷźĭĻƭ ǞźƷŷ ƷŷĻ /źƷǤƭ
reserve fund and debt management strategies.
The policy ensures personnel and non personnel budgets are managed
separately, annual operating revenues and expenditures match forecasts,
financial controls to ensure resources are funded and spent in a fiscally
prudent manner.
8. Make sure your dependent is achieving results at university
University is a significant investment. When a dependent goes off to
university and you are helping pay for room and board, books, tuition and
other expenses, there is an expectation they are meeting their obligations,
which is going to class, performing, meeting their goals and this can be
measured by the results the student receives for marks. Some Agencies,
Boards, and Commissions are heavily subsidized and dependent on City
taxpayer funds.
ŷźƭ /źƷǤƭ ŅǒƓķźƓŭ ŅƚƩ !./ƭ źƭ ğ ƭźŭƓźŅźĭğƓƷ ƦƚƩƷźƚƓ ƚŅ ƷŷĻ ğƓƓǒğƌ ƚƦĻƩğƷźƓŭ
ĬǒķŭĻƷ͵ LƷ źƭ źƒƦĻƩğƷźǝĻ ƷŷğƷ ƷŷĻ !./ƭ ğƩĻ ğƌźŭƓĻķ ǞźƷŷ ƷŷĻ /źƷǤƭ ƚĬƆĻĭƷźǝĻƭͲ
various plans and is operating in a fiscally responsible manner.
The Agencies, Boards, and Commissions (ABC) Policy (FAS-022) sets out
standardized reporting templates and guidelines with reporting to the City.
The reporting ensures there are key performance indicators, financial results,
growth and operational results are included in the reporting requirements.
ŷĻƩĻ źƭ ğƌƭƚ ƩĻƨǒźƩĻƒĻƓƷ Ʒƚ ƦƩĻƭĻƓƷ ğƓ ğƓƓǒğƌ ƩĻƦƚƩƷ Ʒƚ ƚƓĻ ƷŷĻ /źƷǤƭ
18
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
Council Priorities and Strategic Plan
19
Priorities
The strategic plan sets out the following four goals to achieve the vision for
In addition to taking all the above items, the Ten-Year Financial Plan will take
serving Saint John.
źƓƷƚ ĭƚƓƭźķĻƩğƷźƚƓ /ƚǒƓĭźƌƭ tƩźƚƩźƷźĻƭ ğƭ defined in 2021. These priorities are
Vibrant - We value a city that pulsates with life through arts, culture,
divided into four categories:
recreation, education, employment, innovation, and diversity.
DƩƚǞ Α Ļ ǝğƌǒĻ ƭƒğƩƷ ŭƩƚǞƷŷ
Prosperous - We are creating an environment where all our citizens,
DƩĻĻƓ Α Ļ ǝğƌǒĻ ƷŷĻ ĻƓǝźƩƚƓƒĻƓƷ
neighbourhoods, natural spaces, and businesses thrive.
.ĻƌƚƓŭ Α Ļ ǝğƌǒĻ ğ ǞĻƌĭƚƒźƓŭ ĭƚƒƒǒƓźƷǤ
Service - We are a professional public service and an engaged,
aƚǝĻ Α Ļ ǝğƌǒĻ ƭǒƭƷğźƓğĬƌe transportation choices
informed community working together to ensure quality and
tĻƩŅƚƩƒ Α Ļ ǝğƌǒĻ ƷŷĻ ĬĻƭƷ ǒƭĻ ƚŅ ƚǒƩ ƩĻƭƚǒƩĭĻƭ
innovative service delivery that benefits all citizens in a growing Saint
John.
Accountable - We are committed, with our partner agencies, boards,
ŷĻ Ņǒƌƌ ƌźƭƷ ƚŅ /ƚǒƓĭźƌƭ tƩźƚƩźƷźĻƭ ĭğƓ ĬĻ ŅƚǒƓķ źƓ !ƦƦĻƓķźǣ !͵
and commissions, to demonstrate transparency in financial
stewardship, performance management and reporting outcomes so
our taxpayers and customers see value in their investments.
Strategic Plan
The strategic plan is an integral part of the updated financial plan. Additional
information on the plan can be found in Appendix B.
The Strategic Plan provides overarchinŭ ķźƩĻĭƷźƚƓ Ʒƚ ĻƓƭǒƩĻ ğƌƌ ƷŷĻ /źƷǤƭ
plans and policies are working together, while also guiding the creation of
new ones. The plan is the promise to keep the public updated as the City
measures and improves progress. The City will uphold commitments,
working together to take a transparent and financially sustainable approach
to follow through on goals.
The Strategic Plan has been developed through a comprehensive
consultation process with citizens, key stakeholders, employees and
economic development consultants.
20
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
Financial Targets
21
Financial Targets
As part of the first long term financial plan, the Finance Committee approved .ğƭĻķ ƚƓ ƷŷĻ /źƷǤƭ ğķƚƦƷĻķ tƩźƓĭźƦƌĻƭͲ Policies and Priorities, achieving the
a number of key financial policies to guide decision making around long-term following financial targets have been identified as critical to sustainability.
financial planning. Within these policies, the Finance Committee has set
targets that served as the foundation of this financial plan.
Policy Measure Target Due Date
Operating Budget Policy Structural budget Maintain a structurally balanced budget Annual
Debt Management Policy Debt per capita Reduce to $600 December 31, 2036
Debt Management Policy Debt Service Ratio Reduce to 4.0% December 31, 2036
Debt Management Policy Debt Outstanding as a % of Reduce to 25% December 31, 2036
Operating Budget
Operating and Capital Reserves Operating fund balance Maintain a minimum of $2 million for unforeseen On going
Policy expenditures
Asset Management Policy Infrastructure Deficit Reduce by 25% December 31, 2036
Wage Escalation Policy Annual Wages and Benefits Less than property tax growth Annual
Escalation %
Debt Management Policy Debt Balance Reduce to $47 million December 31, 2036
Various Pay-as-you-Go Increase to $17.5 million annually December 31, 2036
22
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
Financial Strategy
23
2026 Budget Α ͻThe Freezeͼ
*Note for purposes of property tax, consideration must be given for
The operating budget for 2026 was established with a frozen tax assessment
competitiveness, if the gap grows between Saint John and other
implemented by the Province. This freeze was partially due to significant
municipalities, tax rate reduction must be considered.
market increases in assessment over the last few years and a reset as the
Province prepares to role out a new property tax system in 2027. The freeze
Appendix C summarizes the 10-year annual operating results of the Base
was partially offset by new operating and capital funding from the Province
Case financial model.
to replace the unconditional grant as part of the tax reform plan.
The 10-year baseline forecast in Appendix C meets all the financial targets.
Specifically, the budget is balanced, funding for strategic investments, the
Base Case 10 Year Financial Plan
total debt load has been reduced, and infrastructure deficit declines by 2036.
Figure 4 displays the long-term debt balance from 2014 to 2036.
The Base Case financial plan scenario is founded on maintaining and funding
current service levels. It focuses on actioning the strategic plan while meeting
CLD w9 Ѝ Α D9b9w!\[ C b5 LONG-TERM DEBT BALANCE
the financial goals and targets set out in the plan.
The following has been assumed within the Base Case Financial Plan:
Property tax assessment growth of 3.0% per year for Residential,
2.5% for Non-Residential and 2.0% for Heavy Industrial
Pay-as-you-Go to reach $17.5 million by 2036
Inflation of goods and services 2.25% annually
Tax rate target of $1.4450 by 2036
Interest rate on new borrowing 3.5% for balance of plan
Fiscal Capacity Funding portion from the Province of New Brunswick
remain flat
Benefits from Saint John Energy included
Own source revenue increases between 0.5% to 1.5%
Population growth 0.5% annually
Strategic initiatives funding of $10.75M over term of plan
24
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
CźƓğƓĭźğƌ {ƷƩğƷĻŭǤ Α .ğƭĻ /ğƭĻ
F igure 4.1 presents the trendline between outstanding long-term debt
balance at the end of 2021 and new long-term debt balances expected to be
outstanding by end of 2036.
In addition to meeting the long-term debt balance targets, the 10-year base
case builds in additional funding for starting in 2027 to fund strategic
initiatives. See figure 4.2.
Appendix C summarizes the 10-year annual results of the Base Goal
financial model.
FIGURE 4.2 - TAX RATE & STRATEGIC
INITIATIVES FUNDING
CLD w9 Ѝ͵Ћ Α ! w!9 !b5 {w!9DL/ LbLL!L9{ C b5LbD
2027 2028 2029 2030 2031 2032 2033 2034 2035 2036
TAX RATE
$1.535 $1.495 $1.475 $1.475 $1.460 $1.455 $1.450 $1.450 $1.445 $1.445
STRATEGIC
INITIATIVES $0.75M $1.00M $1.00M $1.00M $1.00M $1.00M $1.00M $1.00M $1.00M $1.00M
FUNDING
25
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
CźƓğƓĭźğƌ {ƷƩğƷĻŭǤ Α {ƷƩĻƷĭŷ Dƚğƌ
Stretch Goal 10 Year Financial Plan
The goal in the stretch case is combination of tax rate reduction, accelerating The following has been assumed in the Stretch Case Financial Plan:
the strategic plan and meeting or exceeding financial goals and targets set
5% Property Tax Base growth in Residential, Non-Residential and in
out in the plan.
Heavy Industry
The stretch goals provide staff direction from Finance Committee and
Empowerment of municipalities to generate more of their own
Common Council when the City exceeds base case targets.
revenue
Inflation of goods and services of 2.25% in 2026 and onwards
Figure 5 highlights the tax rate goals each year with a goal of $1.2865 by
annually
2036. The annual funding starting in 2027 for strategic initiatives will equal
Fiscal Capacity Funding will remain flat for the purpose of this plan.
approximately $37 million dollars over the term of the plan if the City
Accelerating the Strategic Plan with a competitive tax rate and
achieves its stretch goals.
approximately $37 million dollars over the term of the plan to be
applied to strategic initiatives
Appendix D summarizes the 10-year annual results of the Stretch
FIGURE 5 - TAX RATE & STRATEGIC
Goal financial model.
INITIATIVES FUNDING
CLD w9 Ў Α ! w!9 !b5 {w!9DL/ LbLL!L9{ C b5LbD
2027 2028 2029 2030 2031 2032 2033 2034 2035 2036
TAX RATE
$1.5100 $1.4450 $1.3950 $1.3750 $1.3450 $1.3200 $1.3050 $1.3050 $1.2865 $1.2865
STRATEGIC
INITIATIVES $0.75M $1.275M $1.970M $2.933M $4.233M $4.606M $5.344M $5.344M $5.344M $5.344M
FUNDING
26
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
Financial Health Monitoring
27
Financial Health Monitoring
Now that the path to sustainability has been defined and the targets set, the 2026 results are very encouraging as several key performance indicators on
key will be to monitor actual results as they compare to the plan and make the scorecard are on target of exceeding targets. Tax rate has exceeded the
updates where necessary. Annual monitoring is done by the Finance base case, debt per capita, total debt as a % of the operating budget, pay as
Committee for annual update and presentation to Council. In order to you go is exceeding target that was set for 2026 under the prior Long Term
achieve subjective monitoring, a Financial Health Scorecard has been used to Financial Plan.
track the progress compared to the plan. Below exhibit presents the financial
health scorecard for 2026 based on the current Long-Term Financial Plan and
the 2026 Operating Budget.
EXHIBIT Α FINANCIAL HEALTH SCORECARD 2026 PRINCIPLE 2026 BUDGET 2026 BASE 2026 STRETCH
Debt per Capita Sustainability $815 $1,258 $1,050
Assessment Growth Sustainability 1.53% 3.0% 5.0%
Debt Service Ratio Sustainability 6.3% 7.5% 7.2%
Tax Rate Flexibility $1.535 $1.62 $1.614
Total Debt as a % of Operating Budget Sustainability 31% 39% 37%
Cumulative Debt Reduction (Millions $) since ending
Sustainability $39,846,103 $31,146,770 $32,080,103
2019
Pay-as-you-Go Contribution Flexibility $6,000,000 $5,445,000 $8,671,300
Infrastructure Deficit Reduction since 2024 Sustainability 2.9% 11.4% 15.9%
Unconditional Grant (% of Total Revenue) Vulnerability 8.38% 7.40% 7.20%
28
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
Conclusion
29
Conclusion
ŷźƭ źƭ ƷŷĻ /źƷǤ ƚŅ {ğźƓƷ WƚŷƓƭ {ĻĭƚƓķ ǒƦķğƷĻ Ʒƚ ƷŷĻ \[ƚƓŭΏĻƩƒ CźƓğƓĭźğƌ tƌğƓ͵
The plan was developed to ensure the City remains financially strong and that
/ƚǒƓĭźƌƭ ƚŅ ƷƚķğǤ ğƓķ ƷƚƒƚƩƩƚǞ ŷğǝĻ ƷŷĻ ĬĻƭƷ ƦƚƭƭźĬƌĻ ŅźƓğƓĭźğƌ ğķǝźĭĻ ğƓķ
best financial practices in place to make informed decisions.
The strong financial policies and adherence to these policies have put Saint
John on the right track. The goals set out in the previous version have been
surpassed in many cases. Tax rate has been reduced, debt is falling,
population is growing, and assessment value is up.
The Long-Term Financial Plan reaffirms to Council and taxpayers that the plan
is working. The updated plan confirms how the City is proceeding with the
implementation of the 10 Year Strategic Plan.
To summarize the road to sustainability and the financial plan in one graphic,
Figure 6 outlines the steps that the City needs to continue with to ensure a
sustainable Saint John.
ŷĻ /źƷǤƭ źƓƷĻƓƷźƚƓ źƭ ƓƚƷ ƆǒƭƷ Finanicial Sustainablilty, but Finanical
Excellence.
30
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
Appendices
31
!ƦƦĻƓķźǣ !ʹ /ƚǒƓĭźƌƭ tƩźƚƩźƷźĻƭʹ ЋЉЋЊΏЋЉЋЏ
Through good governance and with the support of the community, our focus is on growing Saint John. By being fiscally responsible,
the City delivers services that contribute to a vibrant, attractive and prosperous city.
Environmental Stewardship
Θ 5ĻƒƚƓƭƷƩğƷĻ ĻƓǝźƩƚƓƒĻƓƷğƌ ƭƷĻǞğƩķƭŷźƦ ğƓķ ƌĻğķĻƩƭŷźƦ ĬǤ ƦƩƚƷĻĭƷźƓŭ
Dwh Α Ļ ǝğƌǒĻ {ƒğƩƷ DƩƚǞƷŷ
our natural environment, adapting and mitigating the risks on city
infrastructure
We enable population and business growth by focusing on key infrastructure
associated with climate change.
investments, strategic communications, service delivery, and partnerships to
Θ LƒƦƌĻƒĻƓƷ ĭƌźƒğƷĻ ĭŷğƓŭĻ ƦƌğƓƭ Ʒƚ ƩĻķǒĭĻ ŭƩĻĻƓ ŷƚǒƭĻ ŭğƭ ĻƒźƭƭźƚƓƭ͵
achieve growth initiatives that align with the principles of smart growth in
Θ !ƌźŭƓ ĻƒĻƩŭźƓŭ ƷƩĻƓķƭ ğƓķ ĬĻƭƷ ƦƩğĭƷźƭĻƭ Ʒƚ źƒƦƩƚǝĻ ƚǒƩ ƩĻƭƦƚƓƭĻ Ʒƚ
PlanSJ.
climate change.
Population Growth
Θ DƩƚǞ ƚǒƩ ƦƚƦǒƌğƷźƚƓ ğƷ ğ ƩğƷĻ ƚŅ Ћі ğƓƓǒğƌƌǤ ĬǤ ƷŷĻ ĻƓķ ƚŅ /ƚǒƓĭźƌƭ ƷĻƩƒ͵
Θ 5ĻǝĻƌƚƦͲ ĻƒĬƩğĭĻͲ ğƓķ ƩĻźƓŅƚƩĭĻ ğ ƭƷƩƚƓŭ ĬƩğƓķ ŅƚƩ {ğźƓƷ WƚŷƓ͵
.9\[hbD ΑĻ ǝğƌǒĻ ğ welcoming community
Economic Growth
We enhance the quality of life and social well-being in a safe place to live;
Θ !ĭŷźĻǝĻ Ќі ğƓƓǒğƌ ƦƩƚƦĻƩƷǤ Ʒğǣ ĬğƭĻ ŭƩƚǞƷŷ ğƓķ ƚƓŭƚźƓŭ ǞƚƩƉ Ʒƚ źƓĭƩĻğƭĻ
offering recreation, arts, and cultural opportunities that align with PlanSJ,
the target.
PlaySJ and other related plans.
Θ ƚƩƉ ǞźƷŷ ƦğƩƷƓĻƩƭ Ʒƚ ĭƩĻğƷĻ ƚƦƦƚƩƷǒƓźƷźĻƭ Ʒƚ ğƷƷƩğĭƷ ğƓķ ŭƩƚǞ ĬǒƭźƓĻƭƭĻƭ
including development of the waterfront and industrial parks.
Livable Neighbourhoods
Θ {ƷƩĻƓŭƷŷĻƓ ƓĻźŭŷĬƚǒƩŷƚƚķ ŭƩƚǒƦƭ ƷŷğƷ ƚŅŅĻƩ ƦƩƚŭƩğƒƒźƓŭ Ʒƚ ƷŷĻ
community.
Θ LƒƦƩƚǝĻ ƨǒğƌźƷǤ ƚŅ ƌźŅĻ ǞźƷŷ ƷğƩŭĻƷĻķ long-term neighbourhood planning.
Θ CğĭźƌźƷğƷĻ ğ ƒźǣ ƚŅ ğŅŅƚƩķğĬƌĻ ŷƚǒƭźƓŭ źƓ ğƌƌ ƚǒƩ ƓĻźŭŷĬƚǒƩŷƚƚķƭ͵
Dw99b Α Ļ ǝğƌǒĻ ƷŷĻ ĻƓǝźƩƚƓƒĻƓƷ
Vibrant City
We encourage sustainable growth by continuing green practices and
Θ /ǒƌƷźǝğƷĻ ĭƚƒƒǒƓźƷǤ ƦƩźķĻ ğƓķ ǒƓźƷǤ ĬǤ ƦƩƚƒƚƷźƓŭ ĬĻğǒƷźŅźĭğƷźƚƓͲ ğƩƷƭͲ
investing in climate adaptation initiatives with the implementation of the
culture, and heritage.
City of Saint John Corporate and Community GHG & Energy Action Plans.
Θ CƚƭƷĻƩ ķźǝĻƩƭźƷǤ ğƓķ źƓĭƌǒƭźƚƓ͵
Θ ağźƓƷğźƓ ƩĻŭźƚƓğƌ ğƓķ ķźƭƷƩźĭƷ ƦğƩƉƭ ğƓķ ĻƓŷğƓĭĻ 5ƚƒźƓźƚƓ tğƩƉ͵
Θ LƒƦƩƚǝĻ ƩĻĭƩĻğƷźƚƓ ƦƩƚŭƩğƒƒźƓŭͲ ŅğĭźƌźƷźĻƭͲ ğƓķ źƓŅƩğƭƷƩǒĭƷǒƩĻ
32
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
!ƦƦĻƓķźǣ !ʹ /ƚǒƓĭźƌƭ tƩźƚƩźƷźĻƭʹ ЋЉЋЊΏЋЉЋЏ
t9wChwa Α Ļ ǝğƌǒĻ ƷŷĻ ĬĻƭƷ ǒƭĻ ƚŅ ƚǒƩ ƩĻƭƚǒƩĭĻƭ
ah9 Α Ļ ǝğƌǒĻ ƭǒƭƷğźƓğĬƌĻ ƷƩğƓƭƦƚƩƷğƷźƚƓ ĭŷƚźĭĻ
We ensure the City is accountable for results in delivering public service by
We offer safe, accessible travel options for the movement of people and adhering to its plans, policies, procedures, and best practices.
goods through trails, paths, sidewalks, and roads that align with MoveSJ
and related plans. Financial Health
Θ Ensure accountable and transparent financial management that adheres
Transportation & Mobility
to the Long-Term Financial Plan.
Θ /ƚƓƓĻĭƷ ƓĻźŭŷĬƚǒƩŷƚƚķƭ ǞźƷŷ ƭğŅĻͲ ğĭĭĻƭƭźĬƌĻͲ ğƓķ źƓƷĻŭƩğƷĻķ
Θ \[ĻǝĻƩğŭĻ ǝźğĬƌĻ ƚƦƦƚƩƷǒƓźƷźĻƭ Ʒƚ ŭĻnerate alternate sources of revenue.
transportation options.
Θ !ĭŷźĻǝĻ ğ ĬğƌğƓĭĻ ğƒƚƓŭ ƷƩğƓƭƦƚƩƷğƷźƚƓ ĭŷƚźĭĻƭ ƷŷğƷ ƒĻĻƷ ĭƚƒƒǒƓźƷǤ
Transparent & Accountable
needs.
Θ 9ƭƷğĬƌźƭŷ ğ ƦĻƩŅƚƩƒğƓĭĻ ƒğƓğŭĻƒĻƓƷ ƦƩƚŭƩğƒ Ʒƚ ğĭŷźĻǝĻ ƩĻƭǒƌƷƭ ğƓķ
Θ /ƩĻğƷĻ ğ ƒƚķĻƩƓ ƷƩğƓƭźƷ ƭĻƩǝźĭĻ ĬğƭĻķ ƚƓ ķğƷğͲ źƓƓƚǝğƷźƚƓͲ ğƓķ ĬĻƭƷ
drive continuous improvement.
practices.
Θ 9ƓŷğƓĭĻ ƷŷĻ ĬǒƭźƓĻƭƭ ƒƚķĻƌƭͲ ƚǒƷĭƚƒĻƭͲ ğƓķ ƩĻƦƚƩƷźƓŭ ƚŅ ƷŷĻ /źƷǤƭ
agencies, boards, and commissions.
Core Service Delivery
Θ 9ƓŷğƓĭĻ ƷŷĻ ĭǒƭƷƚƒĻƩ ƭĻƩǝźĭĻ ĻǣƦĻƩźĻƓĭĻ ğƓķ ƩĻƭƦƚƓƭĻ źƓĭƌǒķźƓŭ ƷŷĻ
timely and consistent communication on service expectations.
Θ 9ǣƦƌƚƩĻ ƚƦƦƚƩƷǒƓźƷźĻƭ ŅƚƩ ĭƚƭƷΏƭŷğƩźƓŭ ğƓķ ǞƚƩƉźƓŭ ƷƚŭĻƷŷĻƩ źƓ ƷŷĻ ƩĻŭźƚƓ
to efficiently deliver public service.
33
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
Appendix B: Saint John 10 Year Strategic Plan
Uplift the Community Α ŷĻ {ƷƩğƷĻŭźĭ tƌğƓ {ĻƷ ƚǒƷ ŅƚǒƩ ŭƚğƌƭ Ʒƚ ğĭŷźĻǝĻ ƚǒƩ
vision for serving Saint John
34
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
Appendix B: Saint John 10 Year Strategic Plan (continued)
Summary of Action Items
Enhanced or New Recreation Programs
Active Transportation & Traffic Calming
Invest in Parks & District Parks
Affordable Housing Action Plan
City Catalytic Projects
Revitalization of the City Industrial Parks & Barge
Terminal
Developing framework for North End Neighborhood
Plan
Improve the municipal tax rate competitiveness
Modernize, reliable & convenient public transit
service
Implement internal audit program
35
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
Appendix C: Base Case Model Output
36
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
Appendix D: Stretch Case Model Output
37
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
Appendix E: Allocation of Special Pension Payment Savings
38
CITY OF SAINT JOHN | TEN YEAR FINANCIAL PLAN 2027-2036
th
March 18, 2026
Finance Committee
December312025UnauditedYear
EndFinancialResults
General and Utility
Fund 2025 Year End
Unaudited Results
Purpose of presentation is to provide
Finance Committee an overview of the
2025 unaudited year end fund based
financial results.
includes the results of the various
Staff and Auditors are working toward
having audited consolidated financial
statements to the Finance Committee
for approval in late May
General Fund Year End Results
The City of Saint John
2025 General Fund Operating Budget
December 31, 2025
Unaudited
202520252024
BudgetActualActual
$$$
Revenues
Property Taxes 156,964,319 156,964,319 150,579,477
PILT Adjustment 23,453 23,453 -
Equalization & Unconditional Grant 12,803,691 12,803,691 13,773,578
Regional Services Grant 1,006,997 1,006,997 1,009,640
Surplus 2nd Previous Year 272,858 272,858 2,336,841
Transfer from Operating Reserves 676,000 729,057 1,134,758
Growth & Community Development Services 7,216,812 13,222,851 5,257,906
Public Safety Services 2,208,312 2,436,327 2,311,180
Transportation & Environment Services 6,726,933 7,303,145 7,193,369
Finance & Adminstrative Services 5,154,553 6,937,456 10,472,470
Corporate Services - 2,875,000 -
May 2021 Operating Budget
Utilities & Infrastructure Services 340,635 460,171 295,717
Saint John Energy Rebates 1,000,000 1,715,185 1,442,276
May 2021 Operating Results
Total Revenues 194,394,563 206,750,510 195,807,212
Expenditures
Growth & Community Development Services 22,628,358 25,906,778 18,898,526
Transportation & Environment Services 49,464,684 53,513,195 47,908,465
Public Safety Services - Fire, EMO & PSCC 33,675,248 34,068,949 32,502,908
Public Safety Services - Saint John Board of Police Commissioners 30,751,388 30,411,012 28,466,478
Strategic Services 9,072,153 7,957,265 7,737,365
Corporate Services 8,424,251 8,322,523 8,233,498
Other Charges 34,924,754 37,693,948 44,407,497
Utilities & Infrastructure Services 5,453,727 5,337,623 7,613,379
Total Expenditures 194,394,563 203,211,292 195,768,115
Surplus (Deficit) - 3,539,218 39,097
General Fund Year End Results
The City of Saint John
2025 General Fund Operating Budget
December 31, 2025
Unaudited
202520252025
BudgetActualVariance
$$$
Revenues
Property Taxes 156,964,319 156,964,319 -
PILT Adjustment 23,453 23,453 -
Equalization & Unconditional Grant 12,803,691 12,803,691 -
Regional Services Grant 1,006,997 1,006,997 -
Surplus 2nd Previous Year 272,858 272,858 -
May 2021 Operating Budget
Transfer from Operating Reserves 676,000 729,057 53,057
May 2021 Operating Results
Growth & Community Development Services 7,216,812 13,222,851 6,006,039
Public Safety Services 2,208,312 2,436,327 228,015
Transportation & Environment Services 6,726,933 7,303,145 576,212
Finance & Adminstrative Services 5,154,553 6,937,456 1,782,903
Corporate Services - 2,875,000 2,875,000
Utilities & Infrastructure Services 340,635 460,171 119,536
Saint John Energy Rebates 1,000,000 1,715,185 715,185
Total Revenues 194,394,563 206,750,510 12,355,947
2025 Unaudited General Fund Financial Results
Year End Revenue Projections -$12,355,947 Surplus
Revenue Surplus that are not reoccurring
Interest Revenue -$780,000
Work Safe NB -$511,709
City Lands Sales -$2,875,000
Building/Other Permits -$2,221,125
Housing For All Fund -$1,138,422
Insurance Proceeds -$310,580
Rapid Housing Initiative -$3,419,695
Parking Revenues -$349,633
SJ Energy Burchill Benefits -$715,185
Public Safety Communication Centre -$149,000
2025 Unaudited General Fund Financial Results
December 2025 December 2025 Year End Variance
Operating BudgetOperating Results
$66,346,326$66,154,366$191,960
Wages and Benefits
$93,123,483$99,362,978($6,239,495)
Goods and Services
May 2021 Operating Budget
May 2021 Operating Results
$34,924,754$37,693,948($2,769,194)
Fiscal/Pension
$194,394,563$203,211,292($8,816,729)
Total
2025 Unaudited General Fund Financial Results
Expenditure by Service Area
$70,000,000
$64,479,961
$64,426,636
$53,513,195
$60,000,000
$49,464,694
$50,000,000
$37,693,948
$40,000,000
$34,924,754
$25,906,778
$30,000,000
$22,628,358
$9,072,153
$20,000,000
$8,424,251
$5,453,727
$7,957,265
$8,322,523
$10,000,000
$5,337,623
$0
Growth andPublic WorksPublic SafetyCorporateUtilities andStrategicOther Charges
DevelopmentandServicesServicesInfastructureServices
ServicesTransportationServices
Services
BudgetUnaudited Actuals
2025 Unaudited General Fund Financial Results
The City of Saint John
2025 General Fund Operating Budget
December 31, 2025
Unaudited
202520252025%
BudgetActualVarianceVariance
$$$
Expenditures
Growth & Community Development Services 22,628,358 25,906,778 (3,278,420)-14.49%
Transportation & Environment Services 49,464,684 53,513,195 (4,048,511)-8.18%
Public Safety Services - Fire, EMO & PSCC 33,675,248 34,068,949 (393,701)-1.17%
Public Safety Services - Saint John Board of Police Commissioners 30,751,388 30,411,012 340,3761.11%
Strategic Services 9,072,153 7,957,265 1,114,88812.29%
Corporate Services 8,424,251 8,322,523 101,7281.21%
May 2021 Operating Budget
Other Charges 34,924,754 37,693,948 (2,769,194)-7.93%
May 2021 Operating Results
Utilities & Infrastructure Services 5,453,727 5,337,623 116,1042.13%
Total Expenditures 194,394,563 203,211,292 (8,816,729)-4.54%
2025 Unaudited General Fund Financial Results
High-level Variance Analysis
Growth and Development Services
Rapid Housing Initiative Grant ($3,357,477) relates to
grants paid out, offset by RHI Grant Revenue
Housing for All ($1,139,075) was a new program in 2025
with no budget, however expense of offset by funding in
revenue.
Housing Accelerator Fund -$1,353,738 positive variance
largely relates to timing around grants to be paid out.
Protective Services
Fire and EMO Services ($649,275) variance largely due to
significant fleet costs, bunker gear, safety supplies and
building maintenance.
Saint John Board of Police Commissioners $340,376
positive variance
2025 Unaudited General Fund Financial Results
High-level Variance Analysis Continued
Public Works & Transportation Services
Fleet Charges ($735K) Combination of Parts and increase
cost of vehicles and equipment being replaced.
Winter Streets and Sidewalks variance largely due to Salt
($565K), Parts, Safety and Equipment Rentals
Pedestrian and Traffic overage due upgrades to rail crossings,
paint costs, other goods and equipment replacement
Overtime ($750K) significantly overbudget largely due to
winter season, fleet shortages, stormwater failures
Tipping Fees ($228K) overbudget
Transit Subsidy ($155K) largely due to fuel and parts cost
Tree Planting ($120K) Tree Planting offset by funding
Arena ($275K) for work on Multiplex offset by reserves
Stormwater variance largely due to unexpected repairs and
infrastructure failure
Utilities and Infrastructure
No significant variance to note -$116,104 positive variance
Corporate Services
No significant variance to note -$101,728 positive variance
2025 Unaudited General Fund Financial Results
High-level Variance Analysis Continued
Strategic Services
Finance variance largely due to vacancies
Information Technology -$768,727 variance
combination of combination of staff vacancies and
delays in some projects and less than expected
license cost.
Other Charges
Transfer to Capital Reserves ($2.3M) variance
$511,709 transfer from Work Safe NB Refund offset
in revenue
$583,793 transfer related to auction and insurance
proceeds offset by revenue received
Interest of $1.15 earned on Reserves
Other Charges relates to various legal liabilities and
actuarial adjustments
2025 Unaudited Utility Fund Financial Results
Saint John Water
2025 Water & Sewerage Operating Budget
December 31, 2025
Unaudited
202520252024
BudgetActualsActuals
Revenues
Flat Rate Accounts 21,883,500 21,835,501 22,174,223
Meter Rate Accounts 19,389,500 18,520,063 18,304,674
Industrial Raw Water Accounts 7,438,122 7,826,417 8,625,898
Fire Protection Levy 2,500,000 2,500,000 2,317,033
Storm Sewer Levy 1,000,000 945,000 1,087,234
Other Revenues 1,667,360 2,047,638 14,763,838
Previous Year's Surplus 764,858 764,858 737,476
Transfer from Reserves 750,000 4,750,000 1,637,804
Total Revenues 55,393,340 59,189,477 69,648,180
Expenditures
Drinking Water Service 25,974,629 26,570,642 36,021,420
Wastewater Service 20,538,918 24,693,740 20,665,313
Infrastructure Management 861,410 922,260 791,820
Industrial Water Service 8,018,383 8,003,621 9,576,676
Total Expenditures 55,393,340 60,190,263 67,055,229
Surplus (Deficit) - (1,000,786) 2,592,951
Potable (deficit) (1,403,843)
Industrial surplus 403,057
(1,000,786)
2025 Unaudited Utility Fund Financial Results
Saint John Water
2025 Water & Sewerage Operating Budget
December 31, 2025
Unaudited
202520252025
BudgetActualsVariance
Revenues
Flat Rate Accounts 21,883,500 21,835,501(47,999)
Meter Rate Accounts 19,389,500 18,520,063(869,437)
Industrial Raw Water Accounts 7,438,122 7,826,417388,295
Fire Protection Levy 2,500,000 2,500,0000
Storm Sewer Levy 1,000,000 945,000(55,000)
Other Revenues 1,667,360 2,047,638380,278
Previous Year's Surplus 764,858 764,8580
Transfer from Reserves 750,000 4,750,0004,000,000
Total Revenues 55,393,340 59,189,4773,796,137
2025 Unaudited Utility Fund Financial Results
Revenue overall surplus of $3,796,137
Meter revenue ($869,437) negativevariance
Drought conditions resulted in Utility being unable
to supply potable water to large industrial customer
for several months
Decrease in estimated consumption among metered
customers
Industrial revenue -$388,295 positive variance
This only impact industrial uses, not potable
ratepayers
Other revenue -$380,278 positive variance largely due to
interest revenue
Transfer from Reserves $4,000,000 positive variance to
offset the unanticipated expenditures from Wastewater
2025 Unaudited Utility Fund Financial Results
December 2025 December 2025 Year End Variance
Operating BudgetOperating Results
$10,141,858$10,874,466($732,608)
Wages and Benefits
$45,251,482$49,315,797($4,064,315)
Goods and Services
May 2021 Operating Budget
May 2021 Operating Results
$55,393,340$60,190,263($4,796,923)
Total
2025 Unaudited Utility Fund Financial Results
Saint John Water
2025 Water & Sewerage Operating Budget
December 31, 2025
Unaudited
202520252025
BudgetActualsVariance
Expenditures
Drinking Water Service 25,974,629 26,570,642(596,013)
Wastewater Service 20,538,918 24,693,740(4,154,822)
Infrastructure Management 861,410 922,260(60,850)
Industrial Water Service 8,018,383 8,003,62114,762
Total Expenditures 55,393,340 60,190,263(4,796,923)
2025 Unaudited Utility Fund Financial Results
Variance Analysis
Wages and Benefits overbudget largely due to overtime related to watermain issues and
wastewater treatment repairs in 2025
Drinking Water Services ($596,013)
Majority of variance relates several watermain breaks
Drought conditions that required advance design of emergency pumping, obtaining
regulatory approvals and engagement of contractors and suppliers to carry out
construction work and pumping if required
Wastewater Services ($4,154,822)
A specialty contractor was engaged to perform a condition assessment on the
equipment and the Eastern Wastewater Treatement facility. This assessment resulted
in immediate repairs and operational work that was completed under the guidance of
safety professionals and wastewater treatment experts to ensure the facility met
regulatory requirements and approvals
Conclusion
The2025GeneralFundwillclosewithasurplus.Thissurplusislargelydrivenby
one-time,non-recurringrevenuenotbyreductionsinexpenditures.
ExpensepressuresparticularlyinTransportationandEnvironmentwereableto
beabsorbedthroughstrongrevenuesperformanceparticularlyfrompermitand
interestincome.
TheUtilityfundhadaverychallengingyearduesignificantinfrastructurerelated
costpressures,however,wasabletoabsorbmuchofthedeficitthroughreserve
supportwhichwascriticalinbringingthedeficitdowntoamoremanageable
level.
*LandSalesof$2.875Mclosedverylateintheyearandwasnotpartofthe
annualreservetransfer.Staffarerecommendingtheseone-timefundsbedirected
backtowardaCapitalReserves.
Conclusion
Recommendation
Committeeendorsetransferring$2.875Mofthe2025surplusintoa
Capitalrenewalfundaspartofthe2027OperatingBudgetandthebalanceof
2025surplusbedirectedintotheCapitalReserveforthenewMultiplex
Committeereceiveandfilethepresentationanddirectanyquestions
to
The City of Saint John
2025 General Fund Operating Budget
December 31, 2025
Unaudited
202520252024
BudgetActualActual
$$$
Revenues
Property Taxes156,964,319 156,964,319 150,579,477
PILT Adjustment23,453 23,453 -
Equalization & Unconditional Grant12,803,691 12,803,691 13,773,578
Regional Services Grant1,006,997 1,006,997 1,009,640
Surplus 2nd Previous Year272,858 272,858 2,336,841
Transfer from Operating Reserves676,000 729,057 1,134,758
Growth & Community Development Services7,216,812 13,222,851 5,257,906
Public Safety Services2,208,312 2,436,327 2,311,180
Transportation & Environment Services6,726,933 7,303,145 7,193,369
Finance & Adminstrative Services5,154,553 6,937,456 10,472,470
Corporate Services- 2,875,000 -
Utilities & Infrastructure Services340,635 460,171 295,717
Saint John Energy Rebates1,000,000 1,715,185 1,442,276
Total Revenues194,394,563 206,750,510 195,807,212
Expenditures
Growth & Community Development Services22,628,358 25,906,778 18,898,526
Transportation & Environment Services49,464,684 53,513,195 47,908,465
Public Safety Services - Fire, EMO & PSCC33,675,248 34,068,949 32,502,908
Public Safety Services - Saint John Board of Police Commissioners30,751,388 30,411,012 28,466,478
Strategic Services9,072,153 7,957,265 7,737,365
Corporate Services8,424,251 8,322,523 8,233,498
Other Charges34,924,754 37,693,948 44,407,497
Utilities & Infrastructure Services5,453,727 5,337,623 7,613,379
Total Expenditures194,394,563 203,211,292 195,768,115
Surplus (Deficit) 3,539,218- 39,097
1
The City of Saint John
2025 General Fund Operating Budget
December 31, 2025
dited
Unau
202520252024
BudgetActualActual
$$$
Growth & Community Services
Salaries 6,773,3537,138,317 6,225,221
Goods & Services15,490,041 19,133,425 12,673,305
TOTAL 22,628,358 2 5,906,778 18,898,526
Transportation & Environment Services
Salaries 19,296,68718,456,763 17,660,935
Goods & Services31,007,921 34,216,508 30,247,530
TOTAL 49,464,684 5 3,513,195 47,908,465
Public Safety Services - Fire, EMO & PSCC
Salaries 26,787,94926,733,140 25,581,114
Goods & Services6,942,108 7,281,000 6,921,794
TOTAL 33,675,248 3 4,068,949 32,502,908
Public Safety Services - Saint John Board of Police Commissioners
Grant 30,411,01230,751,388 28,466,478
TOTAL 30,751,388 3 0,411,012 28,466,478
Strategic Services
Salaries 4,309,9074,704,798 4,094,953
Goods & Services4,367,355 3,647,358 3,642,412
TOTAL 9,072,153 7,957,265 7,737,365
Corporate Services
Salaries 5,907,6706,059,634 5,728,085
Goods & Services2,364,617 2,414,853 2,505,413
TOTAL 8,424,251 8,322,523 8,233,498
Other Charges
Goods & Services34,924,754 37,693,948 44,407,497
TOTAL 34,924,754 3 7,693,948 44,407,497
Utilities & Infrastructure Services
Salaries 3,078,7993,253,673 3,784,053
Goods & Services2,200,054 2,258,824 3,829,326
TOTAL 5,453,727 5,337,623 7,613,379
TOTAL EXPENDITURES 194,394,563 203,211,292 195,768,115
2
The City of Saint John
2025 General Fund Operating Budget
December 31, 2025
Unaudited
202520252024
BudgetActualActual
$$$
Revenues
Property Taxes156,964,319 156,964,319 150,579,477
PILT Adjustment23,453 23,453 -
Equalization & Unconditional Grant12,803,691 12,803,691 13,773,578
Regional Services Grant1,006,997 1,006,997 1,009,640
Surplus 2nd Previous Year272,858 272,858 2,336,841
Transfer from Operating Reserves676,000 729,057 1,134,758
Growth & Community Development Services7,216,812 13,222,851 5,257,906
Public Safety Services2,208,312 2,436,327 2,311,180
Public Works & Transportation Services6,726,933 7,303,145 7,193,369
Strategic Services5,154,553 6,937,456 10,472,470
Corporate Services- 2,875,000 -
Utilities & Infrastructure Services340,635 460,171 295,717
Saint John Energy Rebates1,000,000 1,715,185 1,442,276
Total Revenues194,394,563 206,750,510 195,807,212
Expenditures
Growth & Community Development Services
Growth & Community Planning Services1,680,262 1,616,692 1,715,779
Development Engineering391,301 356,236 364,438
Community Development 1,249,403 1,099,653 754,126
Animal Control120,000 111,188 105,112
Dangerous & Vacant Buildiings278,451 185,265 328,810
Minimum Property Standards 370,375506,126 442,421
Heritage Conservation Service207,018 202,095 196,394
Cultural Affairs -- 107,814
Other By-laws297,552 270,016 286,006
Permitting & Inspection Services1,459,850 1,555,451 1,411,067
Envision Saint John3,087,500 3,271,242 3,243,635
Market Square 2,500,000 2,537,260 1,728,225
Saint John Trade & Convention Centre156,543 162,790 377,023
Imperial Theatre322,021 314,521 308,048
Saint John Aquatic Centre 527,915423,225 512,906
Saint John Arts Centre128,549 125,555 195,220
TD Station 542,715502,796 553,436
Library 544,840544,840 492,397
City Market1,316,629 1,680,189 1,326,952
Arts & Cluture Board70,000 60,385 47,190
New Years & Canada Day Celebrations- - 68,826
PRO Kids 204,864243,677 133,027
3
The City of Saint John
2025 General Fund Operating Budget
December 31, 2025
Unaudited
202520252024
BudgetActualActual
$$$
Succeed & Stay -- 121,909
Local Immigration Partnership62,831 68,375 108,297
Carleton Community Centre193,167 193,167 190,313
Loch Lomond Community Centre45,000 - 45,000
North End Community Centre193,167 193,167 190,313
Recreation Programming1,222,380 1,114,048 656,048
Neighbourhood Development172,000 150,000 150,000
YMCA - Contracted Services155,564 210,564 153,265
Boys & Girls - Contracted Services144,181 144,181 142,050
Unspecified Grants289,000 229,228 289,000
Lifeguards 212,116203,398 207,957
Play SJ -45,000 26,317
Lord Beaverbrook Rink182,000 170,444 160,854
Regional Services Commission396,772 396,687 358,248
Growth Reserve Fund350,000 454,587 691,756
Affordable Housing197,583 3,555,060 215,664
Housing Accelerator Fund2,775,572 1,421,834 492,683
Housing for All 1,139,075- -
Total Growth & Community Development Services 25,906,77822,628,358 18,898,526
Public Safety Services - Fire, EMO & PSCC
Fire Rescue and Suppression Service25,198,937 26,069,492 25,000,351
Fire Training 3,9393,000 447
Technical Rescue Response62,489 91,022 42,352
Hazardous Materials76,417 65,419 69,139
Fire Prevention970,571 815,546 862,570
Fire Investigation67,743 32,224 70,037
Emergency Management Service330,971 281,762 225,209
Water Supply and Hydrants2,500,000 2,500,000 2,317,033
Public Safety Communications3,205,120 3,051,071 2,838,288
Street Lighting1,210,000 1,133,467 1,077,483
Total Public Safety Services 34,068,94933,675,248 32,502,908
Public Safety Services - Saint John Board of Police Commissioners
Grant 30,411,01230,751,388 28,466,478
Total Public Safety Services - Saint John Board of Police Commissioners 30,411,01230,751,388 28,466,478
4
The City of Saint John
2025 General Fund Operating Budget
December 31, 2025
Unaudited
202520252024
BudgetActualActual
$$$
Public Works & Transportation Services
Snow Control Streets5,509,025 7,184,061 5,776,919
Street Cleaning1,741,677 2,411,143 2,730,604
Utility Cuts1,222,667 1,413,067 1,309,996
Street Services - Surface Maintenance8,608,264 8,334,625 8,363,601
Snow Control Sidewalk1,197,743 1,406,704 1,147,936
Sidewalk Maintenance941,593 737,661 592,387
Pedestrian & Traffic Management Service2,607,775 3,124,580 3,093,747
Solid Waste Management4,145,894 4,064,604 4,255,383
Landscape - Parks & Open Spaces 3,668,9003,094,029 2,666,971
Rockwood Park588,051 376,322 585,149
Urban Forestry413,438 499,498 309,490
Saint John Horticultural Association70,000 70,000 60,000
Arena Operation and Maintenance1,518,945 1,774,153 1,629,275
Sportsfield Operation and Maintenance1,428,466 1,453,597 1,401,470
Other Facility Operation and Maintenance 386,266539,241 365,309
Parking Administration 1,170,062971,023 889,384
Transit Debt1,411,000 1,401,043 1,624,131
Transit Subsidy7,405,172 7,591,162 7,104,058
Fleet Stockroom340,934 345,013 363,456
Stormwater Rural4,213,366 4,464,173 2,073,407
Peel Plaza 289,658330,676 329,701
Market Square Parking160,036 328,871 234,760
Off Street Parking1,005,669 1,018,034 1,001,330
Total Public Works & Transportation Services 53,513,19549,464,684 47,908,465
Strategic Services
Finance 1,131,7231,402,392 1,276,837
Assessment1,879,282 1,879,282 1,767,493
Supply Chain Management449,812 454,307 421,318
Information Technology4,129,730 3,360,903 3,199,587
Corporate Planning487,610 411,006 369,916
Insurance 162,369153,327 157,653
Liability Insurance570,000 557,675 544,561
Total Strategic Services9,072,153 7,957,265 7,737,365
5
The City of Saint John
2025 General Fund Operating Budget
December 31, 2025
Unaudited
202520252024
BudgetActualActual
$$$
Corporate Services
Chief Administrors Office808,249 559,563 860,627
Mayor's Office199,201 175,103 169,618
Common Council583,959 612,159 560,376
Common Clerk737,800 684,480 728,695
Human Resources2,801,678 2,925,357 2,452,233
Legal Department1,302,142 1,247,344 1,450,421
Real Estate 463,761325,144 204,284
Saint John Industrial Parks- - 253,522
External Relations188,430 188,898 204,466
Corporate Communications520,949 553,409 447,746
Customer Service956,699 912,449 901,510
Total Corporate Services8,424,251 8,322,523 8,233,498
Utilities & Infrastructure Services
Engineering1,457,303 1,353,544 1,301,871
Carpenter Shop404,336 418,343 351,046
Facilities Management1,763,069 1,590,313 1,632,194
City Hall Building1,089,123 1,151,519 1,245,381
GIS 574,299517,550 437,857
Stockroom 249,605222,346 179,477
Stormwater Urban - - 2,465,553
Total Utilities & Infrastructure Services5,453,727 5,337,623 7,613,379
Other Charges
Fiscal Charges14,202,504 14,054,650 15,390,295
Landfill Closure300,000 300,000 300,000
Special Pension Contributions10,222,250 10,167,494 10,230,416
Reserves 5,313,8893,000,000 8,751,543
Other Charges400,000 1,057,914 2,935,242
Capital from Operating6,800,000 6,800,000 6,800,000
Total Other Charges34,924,754 37,693,948 44,407,497
Total Expenditures194,394,563 203,211,292 195,768,115
Surplus (Deficit) 3,539,218- 39,097
6
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BudgetActualsActuals
wĻǝĻƓǒĻƭ
Flat Rate Accounts21,883,500 21,835,501 22,174,223
Meter Rate Accounts19,389,500 18,520,063 18,304,674
Industrial Raw Water Accounts7,438,122 7,826,417 8,625,898
Fire Protection Levy2,500,000 2,500,000 2,317,033
Storm Sewer Levy1,000,000 945,000 1,087,234
Other Revenues1,667,360 2,047,638 14,763,838
Previous Year's Surplus764,858 764,858 737,476
Transfer from Reserves750,000 4,750,000 1,637,804
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9ǣƦĻƓķźƷǒƩĻƭ
5ƩźƓƉźƓŭ ğƷĻƩ {ĻƩǝźĭĻ
Watershed Management879,877 569,743 745,556
Water Treatment9,577,589 9,092,299 8,911,456
Water Pumping & Storage1,256,362 1,299,311 1,327,690
Transmission & Distribution4,623,509 5,387,174 5,245,607
Customer Metering707,124 807,770 761,227
Internal Charges470,000 349,509 547,893
Other Charges575,142 586,636 574,206
Debt Servicing3,410,695 3,391,088 3,642,873
Transfer to Operating/Capital Reserve180,673 793,454 12,549,290
Capital from Operating4,293,658 4,293,658 1,715,622
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Wastewater Service
Wasterwater Pumping3,318,002 3,664,039 4,008,605
Wastewater Collection3,368,215 3,249,784 3,450,949
Wastewater Treatment6,166,572 10,340,435 5,452,591
Internal Charges470,000 407,470 402,500
Other Charges575,142 586,636 574,206
Debt Servicing2,746,973 2,734,034 2,951,328
Transfer to Operating/Capital Reserve180,672 - -
Capital from Operating3,713,342 3,711,342 3,825,134
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Infrastructure Management
Engineering Services861,410 922,260 791,820
ƚƷğƌ LƓŅƩğƭƷƩǒĭƷǒƩĻ ağƓğŭĻƒĻƓƷБЏЊͲЍЊЉ ВЋЋͲЋЏЉ АВЊͲБЋЉ
Industrial Water Service
Watershed Management894,359 953,151 611,982
Water Pumping & Transmission3,081,035 2,830,210 4,089,662
Customer Metering245,421 214,982 132,898
Debt Servicing1,661,162 1,661,162 1,846,570
Transfer to Capital Reserves836,677 985,516 1,025,544
Transfer to Operating Reserve703,469 762,340 1,234,810
Capital from Operating596,260 596,260 635,210
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BudgetActualsActuals
Drinking Water Service
Wages and Benefits3,835,962 4,177,232 4,202,214
Goods & Services22,138,667 22,393,410 31,819,206
Total 25,974,629 2 6,570,642 3 6,021,420
Wastewater Service
Wages and Benefits4,448,415 4,724,828 4,261,530
Goods & Services16,090,503 19,968,912 16,403,783
Total 20,538,918 2 4,693,740 2 0,665,313
Infrastructure Management
Wages and Benefits614,431 703,944 572,070
Goods & Services246,979 218,316 219,750
Total 8 61,410 9 22,260 7 91,820
Industrial Water Service
Wages and Benefits1,243,050 1,268,462 1,250,407
Goods & Services6,775,333 6,735,159 8,326,269
Total 8 ,018,383 8 ,003,621 9 ,576,676
TOTAL EXPENDITURES 5 5,393,340 6 0,190,263 6 7,055,229