$118M shortfall projected for 2008 Ottawa budget
Last Updated: Wednesday, July 18, 2007 | 6:19 PM ET
CBC News
The City of Ottawa faces a $118-million budget shortfall for 2008, says the city's treasurer.
Marian Simulik presented the projected gap between next year's costs and revenues to the city's long-range financial plan sub-committee on Wednesday.
The shortfall means balancing the budget using increased tax revenues alone would require a 12 to 13 per cent tax hike.
After the presentation, Mayor Larry O'Brien, who chairs the committee, said he still believes the city can keep his election promise of zero per cent tax increases over four years.
"There will be one very tough battle for me to agree to anything above zero because I still believe there's lots of options," he said.
This year, the city used a reserve fund and one-time spending to keep its property tax increase at zero per cent.
On Wednesday, councillors on the committee agreed to come up with a set of budgeting rules that would likely ban the city from using similar tactics to balance the budget again.
Share Tools
Latest Ottawa News Headlines
- Injured soldiers rehab at Calabogie ski hill
- The Calabogie Peaks ski resort is playing host to a group of Canadian soldiers working to keep physical while they recover from serious injuries. more »
- Ottawa smoking ban passed at committee
- Members of the community and protective services committee voted in favour of the new, updated Ottawa smoking ban that prohibits lighting up at parks, beaches and on patios. more »
- 2 NDP MPs back final Commons vote to kill gun registry
- Two NDP MPs broke party ranks to vote with the government in the final House of Commons vote on scrapping the long-gun registry. more »
- Nortel collapse linked to hacking attack
- A former systems security adviser to Nortel Networks says he has no doubt that extensive cyber attacks on the technology company contributed to its downfall. more »
Top News Headlines
- Drummond report on Ontario calls for cutbacks
- The Ontario government must curtail its spending with the kind of cuts not seen since the Mike Harris years, according to a report by former TD Bank chief economist Don Drummond. more »
- Children of immigrants challenged at school, home
- By 2016, foreign-born youth and Canadian-born youth from immigrant families will make up a quarter of the country's population, according to predictions by the Canadian Council on Social Development. As their numbers grow, more attention is being paid to their successes and failures. more »
- B.C. house party trial hears from tearful teens
- Two teenagers cried as they testified at the trial of a B.C. woman who was charged after a teen died while her son was hosting a party at her house in 2008. more »
- Whitney Houston funeral to be livestreamed
- Whitney Houston's funeral will be livestreamed, to satisfy the desire of fans to grieve alongside family members at the Saturday memorial. more »
Most Viewed/Commented
- Unlicensed Ottawa children's taxi investigated
- Ottawa smoking ban passed at committee
- Ontario police help Ottawa predator probe
- Drummond report on Ontario calls for cutbacks
- Hundreds mourn Carleton suicide victim
- Report on slashing Ontario deficit due Feb. 15
- Ottawa men charged after pellet gun incident
- Ottawa high school student found
- McGuinty backs Wi-Fi in schools
