Dear editor:
Now that Alberta’s very exciting election is behind us, I think it’s vitally important for our town council to keep its eye on the ball regarding our fiscal situation to ensure that taxpayers are sheltered from unnecessary future tax increases.
In this regard, it was gratifying to see last week in the press that due to higher than expected growth and revenue, a surprising surplus of $900,000 was generated. That’s the good part; however, when we see that a significant amount of the surplus ($326,000) is already being diverted to pay interest on debt for our esteemed ‘sports palace,’ it sends a red flag of what we might expect in the future to finance and complete this $45 million project.
I note that private donations have been well below expectations and are still less than 50 per cent of the goal.
Despite that, construction is going ahead without the appropriate funding in place, which I suggest is very shortsighted.
Last week’s financial report also noted a significant surplus from recycling collection and the operation of the Eco Centre of approximately $90,000.
This suggests what many of us have felt for the past two years, and that is the monthly cost charged to Cochrane residents is grossly overstated and needs major downward revision for the year ahead.
Finally, in light of the favorable financial picture last year and likely for the coming year (given the projected growth in our residential and commercial tax base), I suggest there is absolutely no compelling reason to make any increase in our residential taxes, certainly not the proposed hike of 2.9 per cent.
I, therefore, urge council to go back to the drawing board and make some sensible budget decisions in the best interests of all Cochrane taxpayers.
Glen McGlaughlin
