City debt finally being addressed

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Editor:

Good to see some members of council have begun to talk about our massive debt.

It seems that for the last decade, they have been asleep at the switch, failing to keep up revenues and using the credit card instead.

The City Finance Department has said, "there's no problem, we can finance the debt." This is like an 18-year-old going into a car dealership and buying a new Mercedes for $100,000 because he can "service the debt".

But is it prudent? No it isn't nor is it prudent for our city to have a $73 million debt.

The Mayor made an astonish statement to the media, and I quote, "the flavour of the day was to have zero tax increases all the time and we thought even increasing our taxes by one per cent was not going to be accepted by our ratepayers."

This is the kind of financial thinking that has brought about the debt situation we have now.

Yorkton, a city of similar size, according to their 2014 budget, will have a year-end debt of $18.7 million.

It appears we have had poor planning for the last decade, or financial mismanagement, or both. You be the judge.

Harry Bassendowske - Swift Current

Geographic location: Yorkton, Swift Current

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  • Bart
    January 31, 2014 - 10:56

    I don't know anyone who is disagrees that we need to deal with this debt. The problem is the city wants the taxpayer to take all the responsibility for it while they do NOTHING to address the fact they have been overspending for, at least, the last 10 years. If you (the city) want me to have a huge tax increase then they better get their spending under control first. Lead by example.