Michael Barnett, who chairs the Santa Parade organisation, confirmed to the Herald it was a scam page.
"We haven't heard of anybody being scammed yet, but we want to make it clear none of our official pages are asking for any money.
"Sadly it shows the lowlifes we are dealing with, people trying to take advantage of others at this time of year."
They had contacted Facebook with concerns and to have the page removed, but had received no response, Barnett said.
He urged others who came across the page to report it also.
Unfortunately, at the parade this afternoon, pundits won't be basking under the same cloudless skies enjoyed by thousands across the city yesterday, as showers are forecast through the day.
It will be warm, however, with a high of 21C.
"The weather might lower numbers but we are really looking forward to it," Barnett said.
"It is still a great chance to celebrate Christmas and get into the festive mood. The parade must go on."
