(City Manager Pat Woods)
(File Photo)
A stark warning delivered to Common Council by City Manager Pat Woods..........You're going to have to rein in your spending in next year's budget because the year to year increase that has been occurring over the past couple of years is unsustainable.
Deputy Mayor Stephen Chase claims the city tax rate could be lowered to $1.51. For that to happen, according to Woods, the city would need six per cent growth compounded yearly with just a two per cent increase in spending and no Peel Plaza. Chase is expressing doubts whether Council has the fiscal discipline to cut back on spending next year. Over the past couple of years, growth in spending by the city has been in the range of 7 per cent annually.
