Brampton mayor Patrick Brown says the city’s finances aren’t dwindling, citing $139 million he’s set aside for reserves as part of his 2024 budget, 'we haven’t decreased, we have increased… we will be well prepared for whatever rainy day may be coming.
A key reserve fund in Brampton has gone from $200 million in 2021 to some $9.5 million last year, city councillors learned this week, sparking concern among some that the city may struggle to handle unplanned expenses in the future.Brampton Mayor Patrick Brown says the city’s finances aren’t dwindling, citing $139 million he’s set aside for reserves as part of his 2024 budget. A key reserve fund in Brampton has dropped from $200 million in 2021 to $9.
"It was shocking to see the decrease in the strategic reserve," former Brampton councillor Jeff Bowman told CBC News. "Those reserve funds are meant to be used for very important projects." A city spokesperson told CBC News in an emailed statement there is an "uncommitted" plan to replenish the strategic reserve with $62 million in the future.
"People are struggling to make ends meet, struggling to pay for groceries, struggling to pay their property taxes. If we're going to take funds from residents, it has to be for a stated, transparent purpose that is well known," Brown said. "In some places, the roads are really bad and they should have been repaired years ago. Why didn't they get repaired? Because there isn't money. Why isn't there money? Because we don't have the money for the infrastructure levy," she said.
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