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I 4 - WATERLOO CHRONIC”! - Wednesday, February [9. 20” Public to have their say on Municipal Price Index BYIAMBS ’MlKSON or not Waterloo should continue to use 2.46 per cent in September. Task Force sees little benefit in tonight‘s a Chm'lide Staff MPI. Critics of MPI. specifically the members public meeting. “As with all of our finance-related issues. of the city‘s former Citizens' Budget Task "MPI is a circular calculation. Whlk‘h is he (Iity of Waterloo wants your feed none of them are black-and-white and Force, cite its small sample size and lack of used conveniently to justify tax increases," back on a contentious calculation there are a lot ofstakeholders involved," she comparables as a major flaw in the calcula- said Mike Magreehan. staff use to determine the annual tax said. "I think it's fair to take it to the tion. As one of its recommendations to He said the conversation at the city rate. community." council before disbanding in March 2012. needs to be centered on finding more effr Tonight. city staff and a facilitator will Developed during the city's 2006 budget the task force requested the city review the ciencies, reducing the burden of major hold a public information session to discuss process, MPI is calculated yearly by examin- continued use of MPl. costs such as pensions on tax payers. and the city's Municipal Price Index starting at ing the basket ofgoods the city must pay for The city commissioned MBA students ultimately finding a tax savings that will 6:45 pm. at RIM Park each year. including staff salaries and com. from WLU to take a look at MPI and its use benefit everyone. City finance committee chair Coun. pensation, sewer costs, energy (electricity across other municipalities. One ofthe find- ‘50 long as major cost drivers remain Karen Scian said it will provide the public and Water) and other expenditures. ings from that report was the city should untouchable. (the) MPI conversation is with the opportunity to learn more about The city cannot increase taxes more than switch to a modified version of the Con- largely meaningless,” said Magreehan. MPI and how it is calculated. to weigh in on MPI each year. and in December council- sumer Price Index to help detemiine its tax Salaries and benefits make up more than a recent study by business students at Wil- lors approved a 1.25 per cent tax increase rate each year. $61 million. or about 39 per cent of total (rid Laurier University, and discuss whether after staff lowered the projected MPI from Known as CPlX. the measure removes operating costsâ€" thecity's largest expense \ some of the more volatile components of Over the past four years. taxes have the CPI (fruit, vegetables. gasoline and increased by6.8! per cent in Waterloo. Sub tobacco. for example) as part of the equa- tracting the stormwater phase-in over those tion. four years, the net property tax increase has “(MPO suffers from transparency issues." been 2.57 per cent. said Danny Persaud, a member of the lau- Ultimately, the decision to continue with rier team. in a presentation to council in MPI willlikelybeup to the new council. and December. ”Based on negative public per- Scian said the current group cannot make ception. it is not a great tool." decisions that will bind future councillors. Scian said tonight's public meeting With Scian, Coun. Scott ther and Mayor should help address some of that negative Brenda Halloran all stepping down at thr- public perception. end of this term. there will be a nearly 50 “As a larger idea of MPl. it's not being per cent turnover in the current council, understood well and perhaps a bit nebu- depending on the outcome of the October lous for people.” she said. “If their percep- election. tions are that it doesn‘t make sense. it's up The public meeting is tonight from . to us to figure out why. That's one of the 6:45 pm. to 9 pm. inside Forbes Hall at RIM main criticisms of the report. people don‘t Park. 2001 University Ave. E. For more inlur understand itso they don't trust it." mation. visit www.water|oo.ca/taxstudv or The former chair of the Citizens Budget call 519-747-8774. .' v St, N. suite l7 _-.'~- 3 ' . . 0mm 3H8 ~I . r -. , . g. my ‘ ~ . ;»29-884-4200 , l . , , ' ._ twioottom : . \ - .‘tl.“\1\, '4' ", I. , H l l I. 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