Hello Ward 8 Neighbours,
City Council is aiming at reducing the 2.5% (or about $92) increase slated to impact households this year. The 2.5% forecast is down from the anticipated 4.2% increase that was forecast last year.
For more details, please continue reading below…
The 2.5% increase of the average household was presented to Council on Friday by the City’s finance staff, as officials continued to look for ways to reduce the anticipated increase.
According to the Spec, Mike Zegarac – general manager of finance, told council that their ability to shave the increase down to two per cent is “really limited.”
In the financial presentation, Zegarac stated that would require $4.5 million in additional “efficiencies and savings,” and could require a dip in service levels.
A 2.5% increase, as the Spec notes, would add about $31.5 million to the city’s roughly $1-billion operational spending plan in 2021. The $92 estimate is based on an average household assessed at $380,300.
Councillor John-Paul Danko noted during the presentation that a rejected move to curbside waste collection every two weeks instead of weekly — “something that nobody would have really even noticed” — was estimated to save $2.1 million a year, a 0.2 per cent budget decrease for 2021.
Budget talks will continue into February, with a final approval at the end of March.
Questions or Concerns?
If you have any questions you can contact our office here.