Sarnia achieves “debt-free” status as borrowing power nears $305M

A new financial report shows Sarnia will enter February 2026 with zero long-term debt, providing a massive $304-million “credit limit” for future projects.

Sarnia is officially turning the page on its old financial obligations. According to a report from the City Treasurer, the city will have a balance of $0 in long-term debt by the end of January 2026.

This milestone comes as the city’s Annual Repayment Limit (ARL) has climbed to $39.4 million. In practical terms, this gives the municipality an estimated "debt capacity" of approximately $304.4 million—a significant jump from the $229.7 million capacity it held in 2020.

The "clean slate" is timely, as the city has already approved a $4.1-million debt-financing plan in principle for the BACE Sports Complex. Total forecasted debt repayments for the remainder of 2026 sit at just $81,000, assuming no other new borrowing is finalized.