FOR IMMEDIATE RELEASE NOVEMBER 29, 2013
Fielding Outlines a Plan to Freeze Property Taxes While Increasing Infrastructure Spending
Today the City unveiled their 2014 Budget. The budget calls for a 2.95% property tax increase for a total of 13.3m dollars.
Taxpayers deserve better. How can we expect our citizens to dig deeper in their wallets at a time when we are seeing major mismanagement of major capital projects. The city should look within to fund needed infrastructure while maintaining a competitive tax environment for our citizens,
said Councillor Scott Fielding Fielding, who Chaired Finance and delivered 6 budgets for the City of Winnipeg, has listed a number of options which he believes will balance the budget without a tax increase. In his proposal, an additional 1.85 million will be allocated for road work in Winnipeg above and beyond the current City budget. The plan also has includes $400K additional for the WPS operational budget as well as 200K for an Ethics and Accountability office.
The city has many options to freeze taxes without any service cuts at their disposal. My plan involves the following amendments to the budget that will freeze taxes while investing more money for infrastructure than the city is proposing.
Options to Freeze Taxes while Investing more than City Budget in wInfrastructure
3 Million from year end surplus
, Please see attachment on next page for a breakdown of projections. The City budget doesn't identify any surplus money from 2013 financials. I have done a extensive analysis of the last five years pick up in the last quarter of the year. On average we pick up 12.7M. This year we are 6.2m in a deficit position. If we take a 9.2M estimate which is more than 3.5m below average (over the last 5 years)we will finish with a three million surplus that we could move into 2014 budget.
2 Million from permits reserve
, Close down reserve and fund any potential shortfall from Financial Stabilization Reserve, The permits reserve is in place to mitigate any potential shortfalls from revenue projects for permits fees. Permits projections have routinely beaten projections by millions of dollars per year, even in 2009 when the economy went into recession phase.