Our City’s Financial Direction

With experience on both sides of the fence – as a former senior manager in Economic Development and now as a City Councillor – I’m well aware of the challenges the City of Toronto faces to deliver services while also balancing the books.

I’m a firm believer in fiscal responsibility and accountability. During my two terms in office, I’ve consistently pushed city staff to reign in spending and find efficiencies from within.

Unfortunately, the Standing Committees and City Council often vote on items without being presented with a full assessment of how new services or programs will affect the city’s operating and capital budgets.

The City of Toronto’s financial envelope is limited, and we need to make sure that Council is aware – before it votes – of every new line item on the budget and its long term implications for the city’s financial sustainability.

With that in mind, I moved a motion at last month’s Executive Committee directing the Chief Financial Officer to prepare a financial impact summary outlining the financial and staffing implications of reports from the various Standing Committees.

We must keep track of what we’re approving and how we’re going to pay for it – that’s the only way to ensure smart, strategic investments and maintain our city’s financial health.

I’m pleased to let you know that Executive Committee and City Council supported my motion  – you can read it here.