New Tecumseth
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Madhunt Publishing Company
Alliston, Ontario

Madhunt Publishing Company
founded March 22, 1999.

New Tecumseth Free Press Online
First Posted April 30, 1999

To email: Tony Veltri .

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Council warned about shrinking reserves, then dip into reserves

to the editor,

Posted December 16, 2013

At tonight's Committee of the Whole Meeting, it is proposed to vote on the 2014 Budget.

On reading, the covering report to council it is hard to get a sense that our council, in the majority of cases, has a hearing deficit or plain lack of common sense.

With great praise recently, the Town CAO introduced Alister Byrne who made a very simple and clear presentation on the subject of financial sustainability.

There were about three components that Mr. Byrne addressed prior to Council having an all-day working session the following Saturday. It was here that our council established as a direct consequence of the presentation on financial sustainability their intention to create a special reserve fund, the Capital Reserve Replacement Fund.

They agreed to set aside all of one per cent of the taxes, about $247,000, to the new reserve fund. This would be a long-term projects providing for the future onslaught of extensive retro fitting required for the Town's aging water and wastewater pipes, roads and parks.

Well blow me away, but does this Council, at a subsequent working session, not just go and spend the very same $247,000 in order to reduce the impact of Capital projects on the 2014 budget.

Wow. That is what passes for "long term planning by this council.

Gordon McInnes

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