CITC12H3 Lecture Notes - Lecture 4: Operating Budget, Vision Montreal, Metrolinx
Document Summary
Note : came few minutes late (ask for beginning notes) admin fee for land transfer tax, property tax bills of 1. 25 (rate of inflation) Gap 57. 5 million how to overcome this is to borrow from capital budget (this is an ongoing negotiation) Where the money comes from: 2015 operating budget. Operating budget how to keep day to day stuff working, often funded by property taxes/user fees, largest is property tax, the largest expenditure for toronto is ttc (2015) Property taxes is where most of the money comes from. Ttc fares cover 63-65% of revenue for ttc (went down a little this year) While municipalities expenditures are increasing with lack of revenue, fewer resources than provinces, faces greater responsibilities for services/maintains and creating infrastructure due to demand. Fewer resources than federal government that collect revenue o: over the last 30% had greater responsibilities for high services and good infrastructure, public infrastructure: telephone, transportation, education.