If the 5-Year Capital Budget is adopted we will go from having no debt to $30 million in debt with the stroke of a pen.

 

The City of Moose Jaw is about to go deep in the hole. $30 millions deep to be exact.

If the 5-year Capital Budget is approved as it stands we will need to borrow that large amount of cash to finance all of the projects that need to be done like the water and sewer upgrades mandated by higher levels of government.

Finance Director Brian Acker says tax revenues are simply not enough to cover the projects high levels of government expect us to complete. "Just in comparison, in the 2005-2009 Capital Budget expenditures were just shy of $28 million. This Capital Budget totals just over 91 million dollars and that's a three fold increase."

Acker says this budget is not sustainable for our City and other sources of revenue will need to be found including a possible tax increase or funding from higher levels of government.