js97
Senior Member
lol!
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Rob Ford - Why the Supervillian?
- Thread starter T-Bor
- Start date
lol!
Glen
Senior Member
Between 2001 and 2008, approximately $659 million was obtained through
revenue increases, approximately $510 million through efciency savings, and
$2.2 billion through what the City describes as “one time revenues.†This
translates into an average annual operating budget gap of $367 million. This
year’s operating budget is only balanced because of a combination of some new
taxes and a contribution of approximately $200 million from the Province. In
the absence of major changes to the City’s fscal relationships with other gov-
ernments, new sources of revenue, or expenditure reductions, we expect from
our analysis that a structural operating shortfall of $250 to $350 million will
persist in the future (See Figure 1).
This approach is unsustainable. In time, the City’s reserve funds will run
out — almost $1.6 billion has been used in the decade since amalgamation.
Eventually, it will no longer be possible to defer investments. Moreover, too
much depends on the generosity of the Province.
Page 35 here.....
www.toronto.ca/mayor_miller/pdf/blueprint_report_20080217.pdf
GraphicMatt
Looking forward to a FRESH START for Toronto
How does that counter his point that the city's reserves are not dwindling and, in fact, have grown through David Miller's term in office?
grey
Senior Member
Funny thing is, no one on the centre/sensible/left is pushing a coalition of councillors. At the end of the day, mayor is one vote that can be effectively overruled by council. That’s why we’re in the mess we are now.
The sad thing is while Ford’s definitely a social and something of a cognitive buffoon, he’s actually done great by his constituents and even taken on the TCHC to fix up their housing in his ward. (I think he also voted against local ratepayer community association pressure to get some high-density condos approved?? I might be wrong about that.)
Also, I think if he gets in, he’ll be mayor a second time short of a complete meltdown happening his first time out. He’ll be able to point to all the councillors that hate his guts for impeding the job he was ‘elected’ to do. Royson James has a pretty good column in today’s Star.
He’s cherry picked some good positions to pick up all the suburban family votes between ending the $60 a year licence fee on cars (really, 60 dollars a year makes or breaks you as a car owner?!? That’s like two oil changes a year which most car owners don’t even do. F-you suburban whiners), wanting one cop in every school (to keep all those coloured inner city types in check so your precious soccer ingénue can grow up virginal, and sheltered from all temptation; and stitch up the police union vote right quick), and a transit plan that virtually ensures nothing will ever get built short of high rise point towers on TTC property.
I wish the other candidates would step up a little and explain what they want the City budget billions to go towards and why. Getting tired of people trying to whip it out to claim what they would sell off or to measure it on the TTC issue which no one can do anything about anyway short of going to the supreme court and gutting the union to rehire the exact same people at a fraction of the current wages. The TTC’s problems are structural funding issues, and everyone knows it.
At this point, short of someone turning out to be a complete religious nutbar or homophobe, I might vote for someone other than the alleged 6 frontrunners, like that Rocco Achampong guy or whatever.
The sad thing is while Ford’s definitely a social and something of a cognitive buffoon, he’s actually done great by his constituents and even taken on the TCHC to fix up their housing in his ward. (I think he also voted against local ratepayer community association pressure to get some high-density condos approved?? I might be wrong about that.)
Also, I think if he gets in, he’ll be mayor a second time short of a complete meltdown happening his first time out. He’ll be able to point to all the councillors that hate his guts for impeding the job he was ‘elected’ to do. Royson James has a pretty good column in today’s Star.
He’s cherry picked some good positions to pick up all the suburban family votes between ending the $60 a year licence fee on cars (really, 60 dollars a year makes or breaks you as a car owner?!? That’s like two oil changes a year which most car owners don’t even do. F-you suburban whiners), wanting one cop in every school (to keep all those coloured inner city types in check so your precious soccer ingénue can grow up virginal, and sheltered from all temptation; and stitch up the police union vote right quick), and a transit plan that virtually ensures nothing will ever get built short of high rise point towers on TTC property.
I wish the other candidates would step up a little and explain what they want the City budget billions to go towards and why. Getting tired of people trying to whip it out to claim what they would sell off or to measure it on the TTC issue which no one can do anything about anyway short of going to the supreme court and gutting the union to rehire the exact same people at a fraction of the current wages. The TTC’s problems are structural funding issues, and everyone knows it.
At this point, short of someone turning out to be a complete religious nutbar or homophobe, I might vote for someone other than the alleged 6 frontrunners, like that Rocco Achampong guy or whatever.
SimonP
Active Member
Glen, what you were wrong about was:
*You said that Miller "blew" the reserves, when they have increased under his watch
*You also claimed that they were "exhausted" when there is still about as much money as there has ever been
I don't disagree with you that funding operating costs from the reserves is a bad idea, everyone agrees with that. (Even Miller, as you point out.) Though I would say that the ad hoc provincial bailouts are a bigger issue. The province should guarantee stable long term funding for the city. If the province won't come through with more money, then city council needs to increase taxes or decrease spending so that the reserves can at least increase at the rate of inflation.
*You said that Miller "blew" the reserves, when they have increased under his watch
*You also claimed that they were "exhausted" when there is still about as much money as there has ever been
I don't disagree with you that funding operating costs from the reserves is a bad idea, everyone agrees with that. (Even Miller, as you point out.) Though I would say that the ad hoc provincial bailouts are a bigger issue. The province should guarantee stable long term funding for the city. If the province won't come through with more money, then city council needs to increase taxes or decrease spending so that the reserves can at least increase at the rate of inflation.
Glen
Senior Member
Reserves are not cash on hand they are reserved (allocated) for things. There are offsets on the balance sheet when they are moved to the operating side to fund budget pressures.
SimonP
Active Member
Some reserves are allocated and some are not. The city does keep a rainy day fund to cover emergencies and fluctuations in the economy. This money is not allocated to anything. The city has four types of reserves:
A) Obligatory reserves, such as the police pension. These are set aside for a certain purpose and the city has no discretion on how to spend them.
B) Deferred revenues, money that has been paid to the city for a specific purpose council also has no discretion on how to spend these
C) Reserve funds, money that is set to go to a certain purpose in the future (e.g. emergency welfare payments). Council can reallocate these whenever it wants. They are about $900 million
D) Reserves, a pile of money that is not set to be spent on anything and in theory is saved for emergencies, capital costs, and to smooth fluctuating revenues. They are about $500 million
City council can take money from from C and D and this is where the city covers the deficit in the operating budget.
A) Obligatory reserves, such as the police pension. These are set aside for a certain purpose and the city has no discretion on how to spend them.
B) Deferred revenues, money that has been paid to the city for a specific purpose council also has no discretion on how to spend these
C) Reserve funds, money that is set to go to a certain purpose in the future (e.g. emergency welfare payments). Council can reallocate these whenever it wants. They are about $900 million
D) Reserves, a pile of money that is not set to be spent on anything and in theory is saved for emergencies, capital costs, and to smooth fluctuating revenues. They are about $500 million
City council can take money from from C and D and this is where the city covers the deficit in the operating budget.
gei
Active Member
As frightened as I am by the supposed support for Rob Ford... I don't think it's a legitimate concern. The type of people who would potentially vote for Ford probably haven't followed city politics at all throughout their lives, and probably are not the type to vote to begin with. Them and the people from the suburbs who love his anti war-on-car attitude, who aren't from Toronto and wouldn't be able to vote anyway.
grey
Senior Member
If he does manage to rally them somehow, I guess it's time to ship off to Montreal...
js97
Senior Member
I think simon p should run for mayor.
js97
Senior Member
that's probably one of the most ignorant racist things I've read on this board....
Have you ever even been to an 'inner' city school???
You're so clueless.
kettal
Banned
Glen
Senior Member
Simon,
Where do you think the members of the Independent Fiscal Review Panel got their numbers? What you are saying appears to be opposite of the Panel when they say..... " In time, the City’s reserve funds will run out — almost $1.6 billion has been used in the decade since amalgamation.
Balance sheets are where most financial chicanery occurs. If I get the time I will go over the F.I.R. reports to see if I can find the discrepancy. In the interim I will take their opinion over others.
Where do you think the members of the Independent Fiscal Review Panel got their numbers? What you are saying appears to be opposite of the Panel when they say..... " In time, the City’s reserve funds will run out — almost $1.6 billion has been used in the decade since amalgamation.
Balance sheets are where most financial chicanery occurs. If I get the time I will go over the F.I.R. reports to see if I can find the discrepancy. In the interim I will take their opinion over others.
kEiThZ
Superstar
Have they grown as much as they are supposed to have grown?
I don't know. I am asking.
The $1.6 billion due for the reserve funds was obviously booked for a reason. What was that money reserved for?
Personally, I have strong reservations when decision makers start playing with reserve funds. Be that at my condo or at city hall.