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. 1iiiiriiademiilloo Chronicle V Financial view for city tops Waterloo will end the year with ti small surplus. according tocity'rr-rDoetsetsaefer. -- All council committees are well within their budgets, the treasm'er said this week. However, there is one cloud on the horinon. "A new prdilem has developed which is causing concern to many of us," Mr. Schader warns. The 886,000 budget provided for welfare to unemployed and un- employables when mill rates were established in April .has already been exceeded by $50,000. This resulted from changes in provincial regulations " well " the present economic conditions. A' 50 percent increase is also predicted on the $25,000 provided fornursing homecgne. -- __ However, the effect on the city budget will not be as dramatic as the percentages indicate, according to Mr. Schaefer, since the province subsidizes about ll) percent of most welfare costs. He warns, however, that sub- stantial increases will be neces- sary in social and welfare alloca- tions for 1971. Mr. Schaefer describes the five- mill reduction in the tax rate as the financial highlight of the year. For most ratepayers the cut meant a $50 decrease in residen- tial taxes. It arose through a board of ed- ucation credit and a $200,000 tax payment from the University of Waterloo. Increased costs for labor and materials will be experienced in next year's mill rate for general municipal purposes. However, these will be modified by revenue arising from a substantial increa- se in taxable assessment. "Our requirements for capital funds have been easing in recent years and we have now reached the point where our capital bor- rowing does not exceed our debt payoff," the treasurer reports. "This will result in a lowering of our per capita debt. " Ttiis yéar, the city marketed $844,000 in debentures at a cost (Continued on Page 2) STANDING BY-we've got the official word that Santa Claus is making his annual trip on schedule and his helpers around the world are standing by to assist with any prob- lems that arise. Even these Waterloo Park deer are willing to step in at a moment's no- tice should Dancer, Prancer. Blitzen or Vixen come down with the 'flu before the event. Dee. 17 About 150 senior citizens and shut-ins were enter- tained at a Christmas party at Parkminister United Church. Dec. 18. Dr. Howard Fetch, academic vice-president of the University of Waterloo, announced that the university's senate has agreed to seek a medical centre for U. of W. Week in retrospect Dec. 22. Waterloo residents who recently took 20 inches of snow in one week in their shade may be sceptical about its arrival but according to the calendar winter only arriv- ed today---officially, that is. Dec. M. Santa, who has been making pre-Christmas calls in the area, made his last public appearances this after- noon, in preparation for his round-the-world trip tonight and another 11 months of solitude at the North Pole. Dec. ti. Waterloo shoppers were warned today by police that purse Snatchers are operating in the city. merry Christmas may all your dreams be fulfilled. WATERLOO. ONTARIO THURSDAY, DECEMBER 24,1970