11-26-2017, 10:51 PM
I came across the following statements in the City of Kitchener capital budget and was very surprised by them (page 3):
Highlight #1 – The capital budget is balanced.
The capital budget is financially balanced, which means there is adequate funding for all projects included in the capital budget. This is a significant achievement, as it means the forecast is not just a wish-list of future projects, but an actual plan of what will be achieved in the future.
Highlight #2 – The capital budget reduces the City’s debt.
No additional new debt will be issued in 2018 over and above what’s previously been identified in the capital budget. Continuing to follow a disciplined approach to debt will see the City’s projected debt levels fall from $78M at the end of 2017 to $71M at the end of 2018, and a further decrease to $28M by 2027.
Given where some municipalities are these days financially I think the people of Kitchener should be very pleased at how well positioned Kitchener is to essentially chart it's own destiny in the future and make the community what it wants to be rather than being subject to other limitations and whims. It should also help to make the region a more competitive place and liveable place not just locally, provincially, and nationally, but globally.
Highlight #1 – The capital budget is balanced.
The capital budget is financially balanced, which means there is adequate funding for all projects included in the capital budget. This is a significant achievement, as it means the forecast is not just a wish-list of future projects, but an actual plan of what will be achieved in the future.
Highlight #2 – The capital budget reduces the City’s debt.
No additional new debt will be issued in 2018 over and above what’s previously been identified in the capital budget. Continuing to follow a disciplined approach to debt will see the City’s projected debt levels fall from $78M at the end of 2017 to $71M at the end of 2018, and a further decrease to $28M by 2027.
Given where some municipalities are these days financially I think the people of Kitchener should be very pleased at how well positioned Kitchener is to essentially chart it's own destiny in the future and make the community what it wants to be rather than being subject to other limitations and whims. It should also help to make the region a more competitive place and liveable place not just locally, provincially, and nationally, but globally.
Everyone move to the back of the bus and we all get home faster.