About the Blog:

Guelph Politico is locally sourced and dedicated to covering the political and cultural scene in the City of Guelph. Est. 2008.
Showing posts with label finances. Show all posts
Showing posts with label finances. Show all posts

Wednesday, October 4, 2017

GUELPH POLITICAST #98 - Tara Baker, City Treasurer

It's the most wonderful time of the year... if math is a hobby, or you fetishize your calculator. Yes, the 2018 budget deliberations are about to start at city council, and to put you in a budgeting kind of mood, we go behind the curtain this week to see how the the ones and zeros add up before they make it to the council floor.

Thursday, June 23, 2016

City Council Preview - What's on the Agenda for the June 27 Meeting?



The final city council meeting in June promises to be a very busy one, preoccupied with money matters, special presentations, and some very ambitious plans for Guelph Transit. 

Thursday, April 16, 2015

Audit to Dig into Ward 6 Candidate's Election Donations



One might think that coming in a distant fourth in the race to become one of two city councillors in Ward 6 would have been punishment enough, but a Guelph citizen is demanding an audit of Glen Tolhurst's donations from the 2014 election be performed. Why? Two words: GrassRoots Guelph.

Friday, March 27, 2015

Guelph Citizen Digs Into Campaign Expenses


Doing their due diligence on the money front from last fall's Municipal Election, Andy Best at the Guelph Citizen posted a breakdown of how much the current members of council spent in order to win their seats. For council candidates, the spending limit is between $16 to $18,000 depending on the ward they're running in, while there's a $82,000 limit for mayor. For the most part, the candidates didn't get near their spending limits, but the numbers, as pointed out by the Citizen, do show some interesting trends.

Wednesday, March 19, 2014

Editorial: Farewell Flaherty


In one of those surprise/not-surprising announcements yesterday afternoon, Jim Flaherty resigned as the federal finance minister. Citing ongoing health issues, and a desire to make bigger bank in the private sector, Flaherty will stand as MP for Whitby-Oshawa until the 2015 election. Natural Resources Minister Joe Oliver is expected to segue into the finance portfolio in an announcement later today, but Flaherty will cast a long shadow as the government looks to enter a black phase in the budget and re-election mode next year.

Friday, October 11, 2013

Council to Talk Water Rates and Other Money Matters


As previously reported, the budgeting season has begun and everything that costs anything in the City of Guelph is going to be up for bids. At a meeting at City Hall on October 24, community members are being invited to give input about non-tax supported budget items.

Friday, August 24, 2012

City Touts Renewed AA Credit Rating

To all the naysayers who think that the city is going down a fiscal path to apocalyptic ruin, the powers that be in Guelph are apparently saying "hard cheese." The city's communications department released a press release today saying don't worry be happy, as Guelph has a "AA" credit rating and is looking good to get that upgraded to a "AAA."
The real question is why we got this news on a Friday afternoon, known in the business as, "taking out the trash day." Is there another shoe to drop, as in we're going to get some horrible economic news soon and the city doesn't want to seem misleading, but still want to soften blow? Or maybe they were just super-excited about the information, which would hardly be surprising considering the sky-is-falling attitude of the deficit hawks that post all the time on the Mercury website. 

Thursday, November 10, 2011

In Case You Missed It: Read the Mayor's "State of the City" Address

It may not have as much fanfare as other State of the Unions, but Mayor Karen Farbridge delivered her version for the City of Guelph this morning. At a breakfast speech sponsored by the Guelph Chamber of Commerce, Farbridge talked about the positive developments in the city, our solid planning, our low unemployment, and the bright and shiny developments coming down the pipe. In other words, the state of our city is strong.
You can read the entire text of Farbridge's speech after the jump.

Monday, April 18, 2011

City of Guelph Still Gets an AA

It was a big talking point in the last election about Guelph's credit rating - mostly how a double A is good but a triple A is better. Well, despite financial hiccups, Guelph's Standard & Poor's remains a double A. here's the City's press release:
April 14, 2011 - Standard & Poor’s Ratings Services has confirmed that the City of Guelph has maintained its ’AA’ credit rating again this year. The rating reflects Standard & Poor’s Ratings Services’ view that the City has a solid economic base, manageable debt, and good operating performance.
"Council’s strong debt and reserve management policies are having their intended effect, producing a continued excellent credit rating for our municipality," says Mayor Karen Farbridge.
The City’s Chief Financial Officer Margaret Neubauer adds, "This rating is good news for Guelph as the economy continues to recover,"
Standard and Poor’s believes the expenditures are manageable and the City’s debt will remain under control even with last year’s increase in capital expenditures. Standard & Poor’s noted the benefit to Guelph of $45 million in federal and provincial stimulus funding to assist with the maintenance and repair of the city’s infrastructure. The City of Guelph is committed to a disciplined and integrated long-term approach to capital planning and continues to adhere to a long-term financial plan guided by debt and reserve management policies.
This ’AA’ rating means the City can secure lower interest rates when issuing debt to finance large capital expenditures from recently constructed facilities, resulting in significant savings to the municipality.
Standard & Poor’s also expects Guelph to benefit from the increasingly diverse economies in Kitchener, Waterloo and Cambridge as the region evolves from a traditional concentration in manufacturing to a technology and service-based economy, and that the arrival of GO train service in 2011 will further integrate the City’s economy into the surrounding area.

Monday, January 24, 2011

A Sliding Scale of Standards

Happy Fifth Anniversary to Stephen Harper and this Conservative Minority Government. Honestly, who knew we'd make it this far?
Certainly not me. The fact that the Opposition has been met with resounding indifference despite Harper's numerous guffaws (proroguing, economic recession, climate change), is not a testament to Harper's skill as a politician as much as it is a sign of fatigue, with Canadians, about their political leaders. A skilled political campaign machine with resources and a streak of opportunism is what Paul Martin faced during his brief tenure as a minority PM; Stephen Harper hasn't had that problem.
As it stands now, in the next election Harper will only have to win 12 seats to secure a majority. Given the numbers from the last election, gaining that majority is perhaps a small matter of Harper staying the course, doing what's worked for him in past elections, and keeping fingers crossed that the opposition remains too scattered to pose as an effective alternative.
Still, there's a matter of concern for me and other progressives that the shiny Harper government-for-all will quickly disappear in the face of that majority. Let's look at an article in today's paper, about how the federal government took a pass on giving Toronto Pride Week federal stimulus money under the Marquee Tourism Events Program. It got about $400,000 in money for the 2009 festivities, but the request for 2010 funds was denied in spite of the fact that organizers were told that their petition "looked good" and that it met "eligibility requirements." So naturally, last year's Pride Week got no money. 
The argument from Industry Minister Tony Clement was that there are other events in Toronto and it was up to him to spread the wealth, as it were. Luminato and the Royal Agricultural Winter Fair got $2.6 million and $1.9 million respectively. As everyone that's ever applied for an arts grant knows, you never get the full amount that you ask for, so what does it say that those two events got seven-figure cheques, while Toronto Pride was only asking for $630,000? 
Toronto Pride isn't just one of the biggest festival of its kind in the country, but easily one of the most well-known celebrations of Gay Pride the world over. Despite what Carl Paladino said, one simply doesn't "stumble upon" Toronto's Gay Pride Parade, it's all-encompassing cultural affair that can only be eclipsed by Caribana, or a Maple Leafs Stanley Cup victory, and one of those things is science fiction.  
The truth is that gays make some conservatives feel funny, again I quote Carl Paladino: "[T]here were men in Speedos grinding and doing things, okay, to each other on this tractor-trailer. And I just said that's not right." Was it a coincidence that after junior minister Diane Ablonczy gave Toronto Pride money that first year that the decision was taken out of her hands and given to her boss Clement for that second year? Maybe, but then again, it might a coincidence that I break my knuckles when I punch a brick wall. 
There's a constituency in Canada that expects the Conservatives to push the social agenda that they want, an agenda that the majority of Canadians would bulk at and make them think twice about putting their vote to the kinder, gentler Harper of the last five years. How do I know? Look at Saskatchewan, where all but one of the provinces 14 seats were won by Conservatives in the last election. 
Earlier this month, an Appeals Court in Saskatchewan said that marriage commissioners couldn't refuse to perform same sex marriages on religious grounds. These are government employees mind you, not religious figures, who refused to officiate marrigae ceremonies between same sex couples on the grounds of their personal religious objections. This is the kind of thing you usually hear about in the U.S. Bible belt where pharmacists refuse to sell contraception like birth control pills or "Plan B" based on personal religious bias.
 But in Canada, you say. Refusing to marry gay people because your religion says that's wrong? Sorry, that don't jive. And the high courts of Saskatchewan agreed. You took an oath to uphold the law and the law says that a couple made up of two adult men (or two adult woman if you like) can marry each other. You don't go deer hunting if you're a vegetarian, and you don't work as a hedge fund manager if you've taken a vow of poverty. 
There's been a lot of talk about elections lately, and though it flies in the face of everything that a modern political campaign is about, in the next parliamentary election, I want all the parties to be true to themselves. If it's the intention of the Conservatives to pursue a more "traditional" social policy, then say so. If you think that farm animals deserve more money that scantily-dressed, well chiseled gay men with water guns that's fine, but being sneaky about it is going to build more resentment than trust when it's all said and done.