I have written in the past about the need for stronger management of our capital budget.
In September, our Council approved a recommendation from our Director of Finance that will see us transition to a more rigorous and disciplined approach to managing our 10 year capital budget.
Guelph has many planned and proposed capital projects over the next 10 years. They range from repairing roads, to building new parks and replacing our main library. I am often asked – can we afford all these projects. This is a fair question.
Guelph is growing, our needs are changing and our budget strategies must keep up. Through prudent planning and ongoing public involvement, we need to continue investing in community capital projects to ensure a strong city that remains competitive.
On March 9, our Finance, Adminstration and Corporate Services Committee will receive a report outlining the steps we will be putting in place over the next 6 months to ensure a more integrated and disciplined management approach to capital financing – one that ensures we will live within our means while positioning ourselves well for when the economy recovers.
These steps will be essential to bring stability to long-term planning, spending, tax rates and service levels.
We are not alone – other municipalities are in the same position because of Province’s Places to Grow legislation and changes in service demands. Guelph has been identified as an urban growth centre. The population in the Greater Golden Horseshoe continues to grow despite the downturn in the economy.
Over the next few months, our Senior Management Team will re-examine all of the capital projects identified with an eye to what we can afford over the next 10 years and what will have to wait. This work will be brought to Council in May and for public input. The results of this comprehensive work will be presented in the 2010 budget when our City will finally have an authentic long term capital plan.
Filed under: Blog, Excellence in Municipal Governance
