One of the major flaws in the City's budgeting process is that no historical data are provided. Thanks for at least doing the calculations on the Reserves three years back. If I recall correctly, the City (under Watson) has gone down the path of exhausting the Reserves before, reducing them to really dangerous levels (so as to keep the 2% promise).
Are the Reserves not the cushion for self-insurance as well? I remember Lorne Cutler warning about the City not setting enough money aside to cover that risk.
One of the major flaws in the City's budgeting process is that no historical data are provided. Thanks for at least doing the calculations on the Reserves three years back. If I recall correctly, the City (under Watson) has gone down the path of exhausting the Reserves before, reducing them to really dangerous levels (so as to keep the 2% promise).
Are the Reserves not the cushion for self-insurance as well? I remember Lorne Cutler warning about the City not setting enough money aside to cover that risk.
Really excited for tomorrow's event! Let's gooo!