Strategic Plan - Financial Sustainability

Fostering a balanced and sustainable local economy achieved by expanding and diversifying the types of industries and businesses operating within the community. This involves attracting new businesses, supporting existing initiatives, and spurring innovation and entrepreneurship.

Objectives

  • Ensure responsible financial management and sustainable fiscal practices
  • Improve financial analysis, forecasting, and strategic decision-making processes
  • Introduce automated systems to improve accuracy, reduce administrative costs, and promote an enhanced user experience for residents
  • Implement corporate-wide asset management policies and plans to ensure the sustainability of our assets and infrastructure
  • Optimize the use of City assets across the corporation and generate additional revenue streams  

Actions

Budget control policy

75% complete | On track

  • Completed the draft policy for final review

  • Budget control policy is on track for approval in 2024

Financial analyst model

100% complete

  • Completed re-organization to shift from a function-based to a portfolio-based model, assigning departments to analysts for support 
  • Model well-received by departments and has allowed finance to build stronger relationships with the user groups

  • Continued refinement over time as new enterprise resource planning rolls out and existing roles and responsibilities transform

10 year capital plan

100% complete | On track

  • Presented the City's first 10-year capital plan to Council on November 28, 2023, as part of the 2024 Mayor's proposed capital budget
  • Limited growth information to be included after the development charges background study is complete

  • Staff to present a more comprehensive 10-year capital plan to Council alongside the 2025 capital budget, including growth-related projects

Review of rates and fees

100% complete

  • Reviewed and increased Recreation and Culture rates and fees

  • Monitor and review annually to ensure fees keep pace with inflation and focus on maximizing cost recovery via rates and fees, wherever possible

Asset management plan

100% complete | On track

  • Completed Non-Core Asset Management Plan - Council passed on May 28, 2024
  • Completed the Levels of Service and Financial Plan Study - Council passed on June 17, 2025
  • Completed the Update to the Strategic Asset Management Policy - Council passed on October 28, 2025

  • Ongoing annual reporting required under O. Reg 588

Automated metering infrastructure

50% complete | Ahead of schedule

  • Completed the radio signal propagation study
  • Stanley Avenue site wind and load study complete
  • Discontinued contracted meter reading in October 2024

  • Stanley Avenue base station to be installed in Q1/Q2 of 2025

Modernization of parking programs

75% complete | On track

  • Parking strategic plan completed

  • Create an implementation plan for recommendations

New corporate sponsorship and advertising policies

80% complete | On track

  • New policies for Corporate Sponsorship, and Naming Rights and Advertising have been developed
  • Request for Proposal issued to secure consultant services for asset valuation and sponsorship marketing for existing and new City facilities and signature programs/events

  • Policies will proceed to Council in early 2026. To highlight these opportunities, a new section on the City website will be developed.
  • Project startup and community consultation to commence January 2026

New enterprise resource planning (ERP) system

90% complete | On track

  • Live with HR, Payroll, Finance, and Procurement modules in spring 2025
  • Live with Talent and Learning modules in fall 2025
  • Organizational training for all employees completed (Fundamentals, P2P, Reporting to be complete by EOY)

  • Adaptive Planning (budget creation) planned for Summer 2026 roll-out
  • Schedule all integrations to run unattended
  • Continuous improvement

New e-permitting and planning application software

100% complete

  • Implementation of phase one of the project is completed
  • Planning staff are utilizing the system and have been continually testing the online application portion of the solution

  • Ongoing staff training
  • Website enhancements
  • Exploring additional features and reporting

Contact Us

City of Niagara Falls
4310 Queen Street
P.O. Box 1023
Niagara Falls, ON L2E 6X5
Canada
905-356-7521
service@niagarafalls.ca