Posted on CBC is a Summary Statement of Transactions
From 2007 to 2014 the federal government will pay (Should I say Taxpayers) $242.8 billion in finance charges ($7141 per Canadian) on the Public Debt which will be standing at $541.8 billion by 2014. That works out to $15,935 (34,000,000 Canadians) for every Man Women and Child in this country.
4 comments:
No disrespect Dean, but on numerous occasions since this year's budget process began, I have enquired of our local politicians (including you), and even recently of our own CFO, as to how much total debt we are carrying as a municipality and what that debt is costing us each year as to finance charges, and have not been able to get that information, to my satisfaction.
I find it interesting that you know the Federal numbers but can't find out what the municipal numbers are?
A few short years ago this information was readily available to residents by way of newspaper advertising of both the Income Statement and Balance Sheet. This was standard policy for many years, and as a result residents were able to compare apples with apples, and not apples with oranges, as it is now. Or at all, considering this information is no longer readily available.
This advertising of our financial statements was stopped shortly after my term on council and was probably due to a budgetary tax saving measure by a ‘conscientious mayor and council’, and not because a certain politician(s) wants (and still does) to keep this information from the public. Some politicians like their constituents’ deaf, blind and stupid, so they don't see how poorly managed we really are. Is that the case here? Short of a FOIP request, I guess we will never know?
John I posted that information a while back I will repost it for you and anybody else that is interested. No government at any level should keep that information from its shareholders (Taxpayers)
John take a look at August 16 2008
http://crowsnestpasshome.blogspot.com/2008/08/municipal-finances-in-crowsnest-pass.html
Its all there to the end of 2007 when we get the audited financials for 2008 I will be glad to post them
My apologies...
By the time we get 'current' F/S the information you supplied in your Aug.16 post will be outdated by approx. 1-1/2 years, but at least it is information. Now, why don't you break that down for us like your did for the feds? :-)
The best I can figure is we are paying about $300,000/yr. in debt interest service costs, which works out to about 2mills on our property tax. I'm guessing based on the information you supplied, that this is correct. Is it? You supply no terms, interest rates, etc. so I (a taxpayer) am left guessing??? A hell of a way to run a municipality, when one is dependent on the good intentions of a single councillor, rather than on the municipality advertising their F/S once a year, when this same municipality advertises several times a year, for people to pay their utility bills. Go figure???
Keep them deaf, blind and stupid... I think so. But I see you chose not to take a position on this... in fact, you made no comment? I'm kind of hoping after what I've said that you and the others on council, will reconsider past practices and reinstitute the newspaper publishing of our financial statements... beginning this year. A friendly suggestion from a disgruntled, pissed off taxpayer. :-( :-)
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