Councillors sit down for detailed review of
2016-2020 capital budget
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| Councillors meet at the Dec. 11, 2015 budget committee meeting in the Herb Taylor Room at the Moose Jaw Public Library. Lisa Goudy/Times-Herald |
By Lisa Goudy
Councillors came together on Friday with
one goal: Find a way to balance the $35 million shortfall in the capital
budget.
With proposed estimates of $259.09 million
in capital expenses, coupled with a current capital funding level of $132.06
million, new borrowing of $64.50 million, an opening reserve balance of $27.49
million and short-term self-financing, the 2016-2020 capital budget estimates
still face a shortfall of $35 million. At the end of five years, the estimates
would put the city at its debt limit of $95 million.
“We’re in a very difficult corner … We
should be operating as if in crisis mode with a great sense of urgency because
essential things – the ability to have water delivered – is in question,” said
Coun. Brian Swanson.
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