The Financial Plan is a key component under the Municipal Drinking Water Licensing Program.
The Municipal Drinking Water Licensing Program requires drinking water system owners to prepare a Financial Plan in accordance with the requirements of Ontario Regulation 453/07. The main objective of this regulation is for municipal government to develop a long term strategy to promote financial sustainability of drinking water systems.
The Financial Plan details the system’s projected financial positions, statement of operations and state of cash flow. The Financial Plan forecasts a period of at least six years, and at a minimum, must be updated and approved by Council Resolution prior to submitting a municipal drinking water licence renewal application (i.e. every five years).
The Region of Peel has demonstrated commitment to the updates and maintenance of the Region’s Financial Plan. Regional Council approved the first financial plan under Regional Council Resolution 2010-560, then again as required in 2014 under Council Resolution 2014-357.
Pursuant to the municipal drinking water licence renewal application an update to Peel's Water Systems Financial Plan was prepared by staff for Regional Council’s endorsement. The Financial Plan (2019-2024) Number 009-301A was adopted by Regional Council on March 28, 2019 under Resolution 2019-271. The Financial Plan along with a copy of Resolution 2019-271 was submitted to the MMAH satisfying the requirements under Ontario Regulation 453/07.
View the Region’s Financial Plan (2019-2024) Number 009-301A (PDF)