Today, I appeared before the Mayor’s Fiscal Responsibility Panel to discuss how public agencies like the Toronto Police Services Board use taxpayers’ money in a responsible way.
I reiterated the Board’s commitment to being vigilant and responsible with tax funds. I also provided the Panel with background information concerning how the budget process works and the Board’s role in that process. The Board submits its requested budget after line by line scrutiny. It is then the City’s role to approve an overall budget. The City cannot specify reductions or request expenditures.
In establishing our budgets for the coming year, both operating and capital, we are very mindful that every increase in the budget has to be funded by the City.
The old phrase “for every action, there is a reaction” - holds especially true in budgeting for a public agency such as the Toronto Police Service. Every increase in our budget represents a potential increase in the taxes and fees that are being paid by the residents and businesses of Toronto.
I reiterated the Board’s commitment to being vigilant and responsible with tax funds. I also provided the Panel with background information concerning how the budget process works and the Board’s role in that process. The Board submits its requested budget after line by line scrutiny. It is then the City’s role to approve an overall budget. The City cannot specify reductions or request expenditures.
In establishing our budgets for the coming year, both operating and capital, we are very mindful that every increase in the budget has to be funded by the City.
The old phrase “for every action, there is a reaction” - holds especially true in budgeting for a public agency such as the Toronto Police Service. Every increase in our budget represents a potential increase in the taxes and fees that are being paid by the residents and businesses of Toronto.
