https://twitter.com/
https://www.cbc.ca/news/canada/new-brunswick/fredericton-city-budget-1.5778039
Fredericton facing $3.1M shortfall in next year's budget
City councillors don't want to see a tax increase
· CBC News · Posted: Oct 27, 2020 8:00 AM AT
Some Fredericton city councillors are hoping to avoid a tax increase to
meet the $3.1 million in shortfall in the city's budget. (City of Fredericton)
The city of Fredericton is grappling with how to make up an expected $3.1 million shortfall in next year's budget.
City staff attributed $2 million to revenue losses during the pandemic and $1.1 million to rising costs.
"It's a very large shortfall," said Coun. Greg Ericson, the chair of the city's finance and administration committee. "It's going to require some extraordinary budget decisions that we don't normally face in a budget."
Council heard loose options from staff at Monday night's budget meeting, which could include raising the tax rate, cutting capital projects or services, or a combination of all three.
A tax rate increase of four cents would make up the shortfall but most councillors said they were against a rise that high.
"I cannot support, in good conscience, a tax increase," said Coun. Kate Rogers.
"I'm not comfortable going to the public, because they too are struggling."
Coun. Dan Keenan also said he was against raising the tax rate. He said the cuts should come from elsewhere.
"We could reduce services temporarily or we could reduce our capital program temporarily."
Staff will come back to council with ideas on how to make up the shortfall at next week's budget meeting.
"We're going to look deeply into our capital budgets and our capital project priorities in order to determine ways to minimize and reduce this potential deficit down to zero without actually having to raise the burden on the community in undue ways," Ericson said.
Not helpful, at all. Just trying to find a simple answer that you can understand, rather than listening to what the council ACTUALLY had to say.
How did the wheels fall off overnight....!!!!!!!!
Hold the phone Duncan.
The 2020 budget was for $124.4 million.
Cost of living increases, what, 2.5% yearly?
$124.4 million X 2.5% = $3.11 million
Not exactly "the wheels falling off" is it?
How do you manufacture a news story out of nothing?
I'm not saying this should be done necessarily and I'm not looking to eliminate all government jobs but the union people especially need to understand where the non-union people are coming. We LITERALLY CAN'T AFFORD to care about your stupid mandatory index raises.
That would more than address the shortfall and the potential free ride the non city dwellers get by residing outside the city but using the city services or amenities.
Don't forget, inflation is also a tax.
guess its the first step to defunding the tax wasters
buy more art for the roundabouts plz
How long are Canadians going to put up with this madness?
$124.4 million is $10.3 million a month. With 2 months remaining in 2020 you could likely stop supplying toilet paper to executive bathrooms and make up the shortfall. I'm just kidding there, but you catch my thinking.
Interestingly enough, I just did the math, a $3.1 million increase on a budget of $124.4 million is approximately 2.5%, so how is it mighty strange that a city has to deal with yearly inflation we all have to deal with?
This isn't even a story.
If you don't build in inflation it certainly will be short. Governments of all three stripes (municipal/provincial, and federal)budgets all have to grow to match inflation, or someone will be shortchanged, or a deficit will result.
This is why, contrary to popular belief, none of these governments can afford to stand still, inflation will eat away at their budgets until they can no longer function.
It's not even math, it's simply common sense, and as you suggest there is none, probably making me a fool for trying to educate a zero.
No comments:
Post a Comment