Kitchener Council To Find Out Financial Shape
Posted Jan 17, 2011 05:56:52 AM.
This article is more than 5 years old.
The City of Kitchener is in good financial shape.
That’s the outcome of an assessment done by staff and their findings will be presented to council today.
A new report shows the city is doing well when compared to other municipalities in the region. But General Manager of Financial Services Dan Chapman says there is some room for improvement.
He says city reserve funds are declining and debt levels are trending upward. That, he adds, will have an impact on the upcoming budget.
Staff are recommending more money be put into reserve funds and that no new debt be incurred.
The budget for the coming year also contains a tax increase of just under 2%. That works out to an extra $18 a year, but the storm-water management fee will drive utility bills up by about $126.
