The Brockville Taxpayers Association (BTA) has received numerous inquiries asking “what is Council’s plan for dealing with city finances relevant to the impacts of the COVID-19 Virus and other needed issues?”
There is only one group who can answer those questions, the city council.
How is the City of Brockville going to survive this? The BTA continues to support council in their efforts to reduce taxes. We understand this was a pre-virus effort, but nonetheless the right approach. We encourage council to be resolved in lowering taxes and reducing costs. The people of Brockville should be very pleased with Mayor Baker’s efforts to steer council in the direction of municipal responsibility and use financial support for city initiatives.
We continue to advocate for reduced debt and increased reserves. This is a key financial indicator used to measure council’s financial management decisions. The debt to reserve ratio is ideal at 1:1. This is the best cornerstone on which to build Brockville’s future. Before the virus, the city had a lot of people out of work and a number of closed businesses. Now we have the COVID impact on top of that and this could be a long-lasting effect. The BTA understands the idea of a second debenture to pay the hospital ask, and keeping the money saved in reserve, not to be used to fund other projects. In normal times it is not a good practice to borrow money for operational costs.