OUR CITY NEEDS A TAXPAYERS’ ASSOCIATION

01 September, 2013
/ in News
/ By Jason Stephan, C.A., LL.B.

Our City is a great place for businesses and families. Our goal is to make things even better.

The following illustrates the opportunity for a better City with more careful and responsible use of taxpayer dollars.

Uncontrolled growth in the City’s operation spending has outpaced combined inflation and population growth more than threefold and has almost tripled in less than 10 years!

From 2003 to 2012, the population of Red Deer increased from 72,691 to about 93,000, an increase of 27.94%. During this same period, Alberta’s inflation rate increased 21.74%. Therefore, combined growth in Red Deer’s inflation and population for 2003 to 2012 was about 50%.  Compare this 50% increase with exponential increases in our City’s operational expenses (less depreciation) for 2003 to 2012, about $82 million in 2003 exploding to over $228 million in 2012, an increase of about 178%!

 

In 2003 our City reported a positive net financial asset position of $64.8 million; in 2012 our City had a negative net financial asset position of $39.9 million.

 

In less than 10 years our City’s financial net asset position has deteriorated more than $100 million!