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Q in - WATERIIX) CHRONICLE - My. September 24, 2014 - Cities need to exercise constraints on expenditures 5 the Oct. 27 municipal $725,000. which council wisely and In a tax strategy approved dur< Despite the miscalculation, our Aim-man rapidly approach. appropriatelydefeated. l ing 2006. city council mandated organization believes the MPI es, current councils are An analysis by city staff earlier 3 that property tax increases within should be maintained for future making decisions on outstanding this year found that hydro rates l any given year would beno greater budgetary planning. and that financial matters to hopefully ease increased by an average of 8.3 per ‘ ‘ than the Municipal Price index. members of the new council will the transition to a new adminis- cent over the last four years as ‘ Since that time. MPI has been rela» hopefullyagreein principle. tram," an“ the vote, opposed to the 2.5 to 3.4 per cent ‘ tively successful as a benchmark While the index can be Such was the case at the (jity of anticipated increase in the original : for property tax increases, when improved and refined. it still prof Waterloo last week when an issue MPl calculation. required. vides the best evaluation of exterr came before the Finance and To put the current decision in Our chamber has also argued nal pressures on a municipality. Strategic Planning Committee context, the MP] was formulated that the advantage of the Munici- All levels ofgovemment need to meeting on Sept. 15, and implemented in Waterloo to pal Price Index over other instru‘ maintain fiscal responsibility and As noted in an article in last inform staff and council of exter- “ . ments such as the Consumer Price accountability and we commend Wednesday's Chronicle by yames nal economic conditions that I. :‘ Index is the MPI provides a level of Waterloo council for acting in the Jackson_ Council was presented require appropriatefisenl manage L tax certainty for both residential interest ofall taxpayers. with a staff recommendation for a ment during the budgetary and business taxpayers. one time increase to the Municipal process. The recommendation k ._., instituting retroactive increas- price index (MP!) of 1,9 per cent from staff to apply a 1.9 percent es, such as the proposal at council m for correcting an original miscal- retroactive increase to cover My!“ last week, diminishes this certainty Ian Mclmn Lrpmident culation in hydro rate increases than anticipated hydro rates and stability. andCEOoftheGmazer from 2010 to 2014, The proposal essentially defeats the original The estimated $725,000 trans- Kitchener Waterloo Chamber of amounted to approximately intent of the index lates to about $14 per household. Comm. 0 O O Econonucal launches mobile s1te ' Economical Insurance, forms." said Tom Reikman, and partners. You and your_bUS'neSS deserve one of Canada's leading Economical'schiefoperating . accessing the claims property and usualty insur« officer. 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