He noted the town’s annual budget is nearly $100 million, and the inquiry costs amount to less than ten per cent of the yearly budget.
Perhaps he was flustered by being challenged over the egregious waste of taxpayers’ money on the SVJI and just pulled that budget figure out of his hat. Perhaps he plans to spend a LOT more of your tax dollars on reports-about-the-report-about-the-report so we end up with a $100-million budget. Perhaps he just wanted to inflate his own status so he looks more important as he campaigns to be the next MPP while he stays in office as mayor. But the town’s actual budget, according to Collingwood’s audited financial statement for 2019, shows a revenue of $61.6 million, with expenses of $60.3 million. However, you really need to read an audited report to understand the town’s costs and revenue streams, not simply the projections in a budget.
Yes, I suspect you’re wondering, too, if our mayor is clueless about the town’s finances. After all, $60 million is hardly an unsubstantial amount. In fact, it seems outrageously high for a small town with 24,000 residents. But it’s still a long way from $100 million. And you’re probably wondering why the media didn’t call him out on that, too. So am I.
The town also collects taxes for the school boards and the county: these get passed along to these authorities and are NOT part of the town’s operating budget. In fact, the town’s own operating budget is considerably less than $60 million: page 24 of the audit shows it was $34.1 million in 2019.
You should spend a little time reading the audit, or at least more time than our mayor seems to have spent on it. You might find some interesting data, like how much the town really got from the sale of the airport (page 26): $2,067,531, or about half of what Saunderson and the former council said we’d get (the selling price was $4.1 million). Given that the airport was assessed at around $6 million a few years back, I’d say we lost a LOT of money on that sale. But I digress.