Financial Reports Reflect Strong Financial Position, Provide Framework for Decision-Making

The City of Greater Sudbury has released its 2025 Long-Term Financial Plan (LTFP) Update alongside the 2024 Annual Report, reinforcing its commitment to transparency, accountability and sustainable financial management.

“Our community deserves a city that not only plans wisely for the future but delivers real results today,” said Greater Sudbury Mayor Paul Lefebvre. “These financial reports highlight our strong fiscal foundation and our commitment to responsible, forward-looking stewardship. They chart a clear path for continued investment in the services, infrastructure, and opportunities that help our community thrive — making Greater Sudbury a place where people want to live, work, play, and where businesses want to invest and grow.”

The reports support informed decision-making to maintain services, invest in infrastructure and support community growth.

“These documents provide a clear picture of where we stand financially and where we’re headed,” said Shari Lichterman, Chief Administrative Officer, City of Greater Sudbury. “The City continues to follow best practices and industry standards to maintain its stable financial position and support long-term community well-being.”

 2024 Annual Report

The City’s Annual Report provides a comprehensive overview of its financial performance during the past year. It includes audited financial statements, key financial indicators and performance results aligned with Council’s strategic priorities.

Since its first submission in 2012, the City’s document has been recognized annually by the Government Finance Officers Association (GFOA) for excellence in financial reporting, highlighting its ongoing efforts to clearly communicate financial information and uphold the highest standards of transparency and disclosure. The assessment of the 2024 report is forthcoming.

2025 Long-Term Financial Plan Update

The Long-term Financial Plan is a forward-looking document that outlines the City’s financial direction based on current information, trends and projections. Updated annually, it considers key financial and economic factors that affect municipal finances.

The 2025 update includes both conservative and optimistic financial scenarios, using projections and modeling to estimate the tax levy increases needed to maintain services and address long-term infrastructure demands. While it underscores that the City cannot depend solely on reserves to fund future needs, it also demonstrates that there is sufficient financial flexibility to continue investing in services and capital priorities. The City’s strong financial position is supported by the diversification of the economy, a strong job market and population growth.

The 2025 Long-Term Financial Plan Update and the 2024 Annual Report are available online at greatersudbury.ca/agendas.