872 replies to this topic

[dasmo]

So you are saying that the City, with $304,000,000 (or more) in revenue absolutely NEEDs another $11,000,000 from us or it's game over this year? Sounds like they aren't earning their pay raise working out a proper budget.... 

Edited by dasmo, 15 March 2024 - 02:18 PM.

[Ismo07]

So you are saying that the City, with $304,000,000 (or more) in revenue absolutely NEEDs another $11,000,000 from us or it's game over this year? Sounds like they aren't earning their pay raise working out a proper budget.... 

 

Well, in 2022 over half the $304M in revenue is taxes..  $164M roughly...  The other $140M is from other revenues...  Now if those revenues are increased that would help...

 

I'm not saying about anything being game over, that's weird (would you call that strawman?)...  Every year budgets increase, mostly due to wages....  The only way to reduce that increase is to remove services..  Been telling you the whole time.

 

Is the $11M increase the budget for 2024?  I haven't looked at that.  If that is the increase in the budget, then whatever is budgeted for other revenues is included and the difference would be taxes... This is what they deliberate on, this has also been explained to you.  Really hard to have this convo if you only keep saying the same thing and not reading what I'm saying.  I appreciate I might not be explaining it very well but clarify before attacking something new.

 

The City does have to have that balanced..  Revenues vs expenses...  Let's wait for the budget to be done and we can go through it.

[dasmo]

$11,000,000 is a back-of-the-napkin calculation of the 6.8% tax increase as it would relate to revenue. 

 

People are reeling from the last few years and all that has brought. The Corporation of the City of Victoria is not. To take more money at this point is simply tone-deaf or cruel.... especially when the city's revenue of what will most likely be more than $300,000,000 should well cover the costs of this year. And yes, because of the circumstances, this would be a year to take from cash reserves, or not buy that glittery thing, or not send everyone to that conference with those luxury dinners out. 

 

This is the year to sit down at budget talks and say how can we make this work without a tax hike. Instead EVERY municipal government is hiking. 

[Nparker]

...To take more money at this point is simply tone-deaf or cruel...

It's both.

[Ismo07]

$11,000,000 is a back-of-the-napkin calculation of the 6.8% tax increase as it would relate to revenue. 

 

People are reeling from the last few years and all that has brought. The Corporation of the City of Victoria is not. To take more money at this point is simply tone-deaf or cruel.... especially when the city's revenue of what will most likely be more than $300,000,000 should well cover the costs of this year. And yes, because of the circumstances, this would be a year to take from cash reserves, or not buy that glittery thing, or not send everyone to that conference with those luxury dinners out. 

 

This is the year to sit down at budget talks and say how can we make this work without a tax hike. Instead EVERY municipal government is hiking. 

 

I think munis for a few years have been denying some increases and many are think "Uh oh, we have some infrastructure issues coming very quickly".  Again and I cannot stress this enough..  You really should get involved with your concerns.  Also as I mentioned, you really can't pull from reserves.  This is the issue, the reserves for the most part need to be increased.  I know you have some personal issue with some of that (Climate action), but you aren't elected at this point.  You should watch the budget talks if you can stand them...  They happen every year and many expenses are looked at.  One year a councilor thought we should look at the expense for credit card charges for parking fees...  The thought was, maybe go back to coin..  They do go pretty in depth at times. 

 

I can't speak to the luxury dinners out..  I think dinner expense is a max of $25.  I think for the most part the CoV purchasing policy is quite sound.  I think staff do a good job of keeping costs down as best they can.  Outside expenses are not cheap...

[Ismo07]

It's both.

 

You should both be on the VV slate...  Get in there and stir it up..

[dasmo]

Take the balance from the Financial Stability Reserves that was at $84,492,000 in 2022. 

 

Lord know I have had to dip into my savings over the last little while. 

[Ismo07]

Take the balance from the Financial Stability Reserves that was at $84,492,000 in 2022. 

 

Lord know I have had to dip into my savings over the last little while. 

I’ll look into what those entail..  it’s not just ‘savings’ like for a family..  there is some amounts that needs to be there for investments and such…. I don’t think it’ll be as much as you’d like..  

[dasmo]

I had to spend my Financial Stability Fund to stay above water post Covid. It definitely wasn’t as much as I would have liked….

[Tony]

City budgets and taxes are similar to the funding for Strata ownership. A Strata has a contingency reserve fund. It is not a good idea to use these funds to replace or reduce the monthly fees. In most situations in my experience monthly assessments are not high enough and more of the monthly assessment should be going to the contingency reserve fund.

The contingency reserve fund is to pay for future major expenditures identified by the regular depreciation report.

Spending these funds or not putting sufficient funds into the account on a monthly basis is the reason so many strata groups have large special levies.

 

Municipalities are very similar ..... The Langford tax situation is a municipal example of being short sited in financial planning to keep taxes low like some strata keep their monthly fees low. It will bite you in the end.

[Victoria Watcher]

Oak Bay residents face 9.68% property tax increase
That increase on a median residential property in Oak Bay equates to $357, according to the municipality’s draft five-year financial plan.


https://www.timescol...ncrease-8508589

Edited by Victoria Watcher, 26 March 2024 - 06:22 AM.

[Tony]

Less than a dollar a day. A morning Latte may be safe?

[Victoria Watcher]

Sidney approves 6.04% tax increase for 2024
Council limited the tax impact as much as possible while meeting ongoing needs, Mayor Cliff McNeil-Smith said.

https://www.timescol...or-2024-8508659

Edited by Victoria Watcher, 26 March 2024 - 09:17 AM.

[Tony]

Reducing this year’s tax increase means a higher starting point for next year’s increase, Andrew Hicik, director of finance, told council.

 

Reducing this years tax increase means that the  starting point for next yeas increase will be less than the starting point if they had not reduced the increase. As long as there was an increase this year the stating point would always relatively have been higher for next year.

 

Is this misspeak from the director of finance or incorrect reporting by a journalist?

[JimV]

 

Is this misspeak from the director of finance or incorrect reporting by a journalist?

It sounds like bureaucratic mumbo jumbo to me. The issue is whether the increases are justified and what can be done to reduce costs.

 

I would suggest that council stay in its lane by not buying entertainment venues, not undertaking large expensive projects (e.g. Ship Point, Centennial Square, etc.), not doing more road constriction/bike lane work, trimming city staff, forgoing council pay raises, etc.  There are many ways the budget could be reduced.

[dasmo]

It sounds like bureaucratic mumbo jumbo to me. The issue is whether the increases are justified and what can be done to reduce costs.

 

I would suggest that council stay in its lane by not buying entertainment venues, not undertaking large expensive projects (e.g. Ship Point, Centennial Square, etc.), not doing more road constriction/bike lane work, trimming city staff, forgoing council pay raises, etc.  There are many ways the budget could be reduced.

Why bother doing any of that when you can just take more? 

[Nparker]

And charge your residents more in salaries for taking more from them! 

[Victoria Watcher]

Victoria residents will have a chance to air their concerns and provide input on the City of Victoria’s 2024 budget this month at a public hearing.

The meeting on the $336-million budget, which proposes a 7.93 per cent tax hike, is set for April 25 at 6:30 p.m. at city hall.

The meeting follows a random telephone survey of 700 residents and a series of focused budget meetings run by community organizations.

City staff have said the cost increases in this year’s budget, which includes $72.1 million for the police force, are largely due to inflation, continued supply-chain challenges and labour shortages.

They say construction costs have increased by nearly 55 per cent over the last six years, and are expected to jump between five and 10 per cent in the next three years.

While inflationary and labour costs resulted in a 5.86 per cent increase in the tax lift, the police budget adds 2.4 per cent.


https://www.timescol...-budget-8549391

Edited by Victoria Watcher, 04 April 2024 - 09:49 AM.

[Nparker]

I've sent an email to the mayor and council outlining my concerns about the 2024 budget - for all the good it will do.

[Mike K.]

So you complain about taxes going up, and you complain about private developers using their own money to beautify the public realm.

 

What do you not complain about?