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Council warned about shrinking reserves, then dip into
to the editor,
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
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
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.