City Budget 2009
 

The tax increase is currently sitting at 6.5 per cent or an extra $162 for the average home. Staff have a plan to get it down to 2.5 per cent or $66, but that largely depends on the province coming through with a $16.5 million grant or loan. The mayor met with the province last week and told me yesterday that he didn't leave the meeting "with a lot of confidence." That's not good news. If council is forced to find the money elsewhere, it will mean service cuts.

When budget deliberations start in the new year council will have to decide what to do about its' own wish list. Throughout the year council has referred nearly $800,000 in program enhancements to budget deliberations. Now it’s time to yea or nay each item.

What would do you decide?

Increase litter pick-up in the downtown - $173,000
Expand the downtown ambassador program - $30,000
Fund additional street tree trimming that was put off last year - $171,000
Hire a community relations officer and extra clerk for animal control -$176,000
Extend the season for outdoor pools - $38,000
Maintenance for the new CP Rail Trail - $40,000
Waste collection at major festivals to ensure it’s properly sorted - $40,000

Increase litter pick-up in the downtown - Yea
Expand the downtown ambassador program - Nay
Fund additional street tree trimming that was put off last year - Nay
Hire a community relations officer and extra clerk for animal control - Nay (should have a hiring freeze)
Extend the season for outdoor pools - Nay
Maintenance for the new CP Rail Trail - Yea
Waste collection at major festivals to ensure it’s properly sorted - Nay

City racks up $5.8M surplus for 2008

April 14, 2009
The Hamilton Spectator
Hamilton has recorded a $5.8-million surplus for 2008 after receiving higher than expected provincial transfers and other revenues and realizing operational savings after belt-tightening last July.

Provincial funding of $3.6 million, other revenues of $3.5 million and savings in various departments of $6.8 million helped offset an $8.2-million deficit in winter roads clearing.

The surplus in the city’s operating budget, which is supported by property taxpayers, will be put into reserves for future use, with $2 million into the Ontario Works welfare stabilization reserve and $3.6 million into the tax stabilization reserve.

Besides the surplus in the city’s tax-supported operating budget, the water and sewer rate budget saw a $1.6-million surplus, about 1 per cent of its gross operating budget.

The two surpluses gives a consolidated surplus of $7.4 million, a far cry from the $8.5-million deficit forecast last August.

All thanks to half price gasoline during the last 4 months of the year no doubt. I hope someone in accounting notices this and saves this money for when gas is around $1.30 again.

Gee a surplus of nearly $6 million, how much extra for limestone facade again? $6 million! Council could have easily looked for alternative funding.

Wow, that covers about 40% of the City's 2008 projected losses on the Asset Backed Commercial Paper investment.

I wonder what the final number on that loss ended up being?

http://thespec.com/article/376095