The City of Penticton has released its 2025 Statement of Financial Information (SOFI) ahead of its presentation to council, reinforcing its commitment to transparency, accountability and responsible financial management.
Prepared annually under the provincial Financial Information Act, the SOFI provides a standardized snapshot of municipal spending, including employee remuneration and payments to suppliers. The report complements the city’s audited financial statements by offering additional detail on how public funds are allocated.
“The SOFI is an important tool for transparency and helps ensure residents have clear insight into how their tax dollars are supporting services in our community,” said Angela Campbell, chief financial officer. “While the report focuses on numbers, it’s important to remember these investments support essential services people rely on every day — from public safety and infrastructure to recreation and community amenities.”
In 2025, the city continued to invest in council priorities focused on building a safe, resilient, livable and accessible community. This included the addition of staff resources to support growing service demands and the delivery of key programs.
As in previous years, the report reflects changes in employee compensation above the provincially mandated $75,000 reporting threshold. These shifts are largely driven by factors such as cost-of-living and negotiated wage increases, employee progression through salary ranges, and normal workforce changes including retirements and hiring.
“Year-over-year changes in the number of employees listed above the reporting threshold are expected and do not necessarily reflect significant changes in staffing levels,” said Campbell. “They are influenced by broader economic factors and the structure of provincial reporting requirements.”
The SOFI also highlights payments to suppliers of goods and services exceeding $25,000. In 2025, these expenditures increased in line with broader market conditions and the city’s capital investment program, which saw approximately $43.1 million invested in infrastructure projects such as the Ellis Creek Dam and water system improvements. These investments help maintain and enhance essential services for residents and businesses.
The city notes that the SOFI focuses on financial data and does not reflect the full scope or quality of services delivered. Municipal services — including policing, fire and emergency response, water and sewer systems, roads, parks, recreation and community programming — are directly tied to these expenditures and contribute to Penticton’s overall quality of life.
The 2025 SOFI will be presented to council for approval on June 9 and subsequently filed with the Province of British Columbia by the legislated June 30 deadline
The full agenda is available at penticton.ca.