More Budget Woes


Money

I received the following post from Ian Chadwick last night: http://ianchadwick.com/blog/how-to-break-your-election-promises/
I follow his blog. I guess after Marjorie Leonard’s scathing pre-budget report he had to finally post something relevant to his role on council on “Scripturient” rather than his usual elitist waffling’s.
This guy is the ultimate spin doctor, I guess he must have read my last post because he threw this in at the end:
“The proposed $35 million multi-use recreational facility at Central Park included. Since there wasn’t any federal or provincial funding available (we asked), and private financing came at a higher interest rate than we could get from a bank, the net result would have been a $35 million addition to our existing debt (doubling it). And, as the treasurer informed me at the time, that would add a little more than 10% increase in the average tax bill. That would have been in addition to the 10.93% proposed Monday night. Consider the impact of a 20% tax increase over two years…”

Let me be clear on this, this bunch will not increase your taxes by 10 or 11%. As Chadwick said it would be political suicide. I will make a prediction, they will put a complete halt to any capital project spending next year whether it is needed or not, they will snag the rest of the money from the Collus sale. Hume will continue to look like a suburban Detroit street for years to come. They will whittle it down to a 3.5% tax increase and say it’s not that bad considering all the great things they have done for us. When they do this, I will link to this post and prove to everyone that you don’t need a university degree to figure this bunch of fools out.
So we get our 3-4% increase next year, what then? They have nowhere else to go. At some point things like the Oak St bridge will need to replaced or repaired and other capital projects will need to be done. They already said they can’t cut back on wages which accounts for 48% of their budget. They have pissed away the Collus money already, half the revenue stream that has been lost there is never coming back. They have also done nothing to promote economic development in the area and really who is going to want to move to Collingwood in the not too distant future when the property taxes are at the levels they are now and are going to be in the next few years.
In my humble opinion this town has a revenue problem that will not be fixed by anything coming out of the mouths of most of this town council. So if we continue to be governed by these same people, get ready to start feeling the financial pain on a yearly basis. But for the immediate future you will be seeing a lot of smoke and mirrors while they try and get through next year’s municipal election.

Advertisements

2 thoughts on “More Budget Woes

  1. You know what we do in the corporate world when wages consume so much of the budget? We do a lot more with less people, quickly…just saying….don’t mind me, I ams a stupids..

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s