Thursday, October 15, 2009

City of Vancouver budget update

From CKNW News:

City Hall shortfall dwindles
Janet Brown | Email news tips to Janet

"What a difference two weeks makes.

At the end of september the City of Vancouver announced it was facing a 61-million-dollar shortfall.
The preliminary budget numbers are now in for 2010 and the budget shortfall is now pegged at 28-million-dollars, down from the 61-million just two weeks ago.

At 28-million homeowners would face a property tax hike of five-per cent.

However staff say they're aiming for a tax hike of two percent at the most.

They say there are more cuts to be made.

A service review underway by the city has been looking for ways to save money and make the entire organization more efficient."

Wow. How did that happen? $32m in savings found in two weeks?


Anonymous said...

As the city manager said, we could bring it down to 28m with efficiencies. Doesn't anyone ever listen?

Brenton said...

Fair enough. It's still pretty amazing that "efficiencies" of $32m were found in two weeks.

Anonymous said...

couple ways to do this - take funds out of budget first and make staff manage to a revised budget OR capture savinsg as they go along and end of year "surplus" equals $32mm....