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The provincial gov- ernment took control of Crown Trust, Seaway Trust Co. and Greymnac Trust Co. in order to re- view the records of the three companies follow- ing the complicated and controversial sale of 11,000 apartment unitsý in Toronto. The government has said it will conduct a re- view of the financial re- cords of the three com- panies in order to pro- tect investors. Attersley explained that reserve funds, which make up the in- vestment, are collected by means other than taxation. One of these is money collected fromn builders for future capital expendîtures ter he made in new neigh- bourhoods by the town. "When somebody, comes in for a building By LESLIE BUTLER Free Press Staff Thanks to the frugali- ty of Whitby town coun- cil, taxpayers will face a total municipal tax in- crease (if only 4.9 per cent in 1983. Translated into dol- lars, this means the average Whitby tax- payer living south of Rossland Road will pay $27.50 more for services provided by the Town of Whitby and the Region- al Municipality of Dur- ham. Rural residents who live north of Ross- land Road can expect an increase of $24.50. These marginal in- creases, however, do not include taxes ad- ministered by the school boards which normally represent about one-haîf of the tax dollar. The town's share of From Pagel1. permit, we charge a certain amount for side- walks and roads that will be built in the area some time in the future," Attersley said. "In order to make sure the money stays up to date with inflation un- tii we actually build the sidewalks, we invest it." Attersley said the town of Whitby has about $6 million in re- serve funds at the present time. These funds are. "earmarked" for future capital pro- jects and cannot, under the Municipal Act, be directed into current budgets to offset expen- ses, Attersley said. "I don't want to pass over this lightly, " Atter- sley said. "We are con- cerned, but we're keeping up to date on it as best we can. " the taxes will* rise, only 3.4 per cent for urban dwellers and 2.8 per cent for rural residents. The regional levy is ex- pected to increase by 7.9 per cent, leaving tax- payers with a combined increase of 4.9 per cent. Whitby's $12 million budget, approved by council Monday night, represents efforts on the part of town administra- tors to keep increases within the provincial government's five per cent guideline. Treasurer AI Claring- bold told council at a special meeting last Thursday the town was able to keep increases to a minimum by making use of federal and provincial grants, and by taking advantage of increased revenue from building and plumbing * e. Fbrc Draes& h* rs- C somMad EXCELENTSELETION OF ABRIC 21IDndeSt. Es * ..: 66-482 permits. Claringbold said estimates for in- creased revenue from permits has been "irather optimistic", in- dicating staff and coun- cillors expect Whitby to experience -continued growth in 1983. Whitby residents will benefit from the early completion of the budget process this year, Finance Chair- man Tom Edwards said Monday. Because the first instalîment of taxes will be received by Feb. 15, the town will not have to borrow See Budget, Page il. Trucks!' Trucks!' Trucks!' Gas, Diesel, Short box, Long -box, King Cab, 4 x 4's From $6,295,00 at MIDWAY DATSUN 1300 Dundas St. E. Whitby 668-6828 _.m eDJSNI mi $1 Knflon lm Crown Trust Just as the frosting was being put on the 1983 budget, East Ward firebrand Joe Drumm demanded $750 be added to the $12 million budget for a problem that bas him "scared skinny ". At last Thursday's special meeting of coun- cil, Drumm angered some councillors by ask- ing for $750 to build a fence at the edge of a drop-off at a park on Nichol Avenue in Whit- by. And*despite the op- position, Drum's re-* quest was approved by council. "Go have a look at it," Drumm urged council- lors who charged he was bringing an item up out of the blue. "I'm scared skinny ... a kid could fal off there. ' Mayor Bob Attersley and councillors Ross Batten and Marcel Bru- nelle argued that Drurmm's request was completely new to them, and had not been brought up at earlier budget discussions. '"1 don't know what he has up his sleeve,"' said Joe Drumm Attersley, who arguedi the proper procedure is to have a committee study the need for a fen- ce before budget alloca- tions are made. Councillors Gerry Emm and Joe Bugelli, however, 'agreed with Drumm that the final budget meeting is the time to bring up miscel- laneous expenditures. So, in a final vote which was decided by chairman Tom Ed- wards, Drumrn got bis fence included in the 1983 budget, on the con- dition that a committee study the area before the expenditure is made. 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