The financial department needs more staff to efficiently administer the funds generated by our booming tourism sector. Glad to see the District of Tofino taking steps in this direction . Tofino’s designation as a resort municipality is truly seeing us through any slight downturn that other municipalities envy.
The City of Vancouver can expect to lose a lot of revenue as a result of COVID-19.
That's one of the takeaways from an online survey conducted by Research Co. on behalf of the Vancouver mayor's office.
Another takeaway is that city residents have been hit hard financially by the economic contraction.
Only 68 percent of homeowners surveyed said that they could cover their full mortgage payments last month.
Research Co. reported that only 55 percent said they will be able to do this in May.
Ominously for the city's finance department, 25 percent reported that they will pay less than half of their 2020 tax bills. Six percent plan to pay no property taxes when they become due.
“The research is clear—the city’s finances are going to be negatively affected by COVID-19 due to lost revenues and hard-hit homeowners defaulting on their property taxes,” Mayor Kennedy Stewart in a news release. “It’s illegal for Vancouver and other local governments to run deficits, so the only way we can stay afloat is with the help of the federal and provincial governments.
"Otherwise, local governments will be forced to take drastic measures that will hurt residents and businesses, and significantly slow any post-pandemic economic recovery.”
He pointed out that the city already expects to lose up to $189 million this year due to the pandemic.
What else is new. District spending is out of control and they keep spending money they do not have. There was even 1 item on the last council agenda allowing the district to borrow money based on expected revenue. that is great planning except the money that gets spent before the tax money arrives needs to be there to make payments on expenses after the tax payments arrive. Shortfalls are to be covered in situations like this by reserve funds. Oh I forgot, Tofino doesn't have wheelbarrows full of reserve funds because the district doesn't believe in planning for a rainy day.
Listening to the Mayor yesterday on the entertainment Channel was thought-provoking. As I read it she is proposing that the deep state in the village office is already preparing a new disaster plan for the next time this virus stuff might come around. Well it's not her fault she did not acknowledge that the current fiasco has made one thing glaringly clear. The economy as we know it here and everywhere else it's based on a greed contest. Whoever has the most money wins contest. In peoples haste to grab as much as they can, they do crazy things. Whoever has the most money wins. .... And forget some of the most basic human values i.e. Compassion, sympathy, empathy, decency, commonsense, community values, and cooperation, besides greed. So tourism Tofino sequestered within the secrecy of the district office command centre is planning on dreaming up new different exciting dynamic opportunities for tourism once the flat tire is changed. We all know what that means:tourist dollars for virtual nature tours, real time maps, online videos of the Mayor, sustainable bed-and-breakfast online tours, paid advertisements galore etc etc... That's why we need a new finance person coming from tourism toFino... A paid tourism consultant on staff to help dream up what will keep people from asking what is going on in the district office now for $9,000.
They hired this new "financial manager", but only at reduced hours. Now the manager of Community Sustainability has created a "need" for her, as part of the planning team regarding recovery from Covid19. We can assume she'll now be full time.
Not surprising. Council put it's proverbial toe into the water, looked at taxes, saw their reflection in the pond, and chickened out. They decided it was cold. Let's spend our way forward, again. This has been, the default, go to, response for years. But what could we expect from a council composed largely of comfortable gov't employees, tax chisellers and failed small business entrepreneurs who need their council stipend to make a living.
I read that the Gov't of New Zealand has taken a 20% wage cut for the duration of the Covid response. Till things pick up.
I would vote for these people in a heart beat. That is leading by example.
DOT is not looking to actually trim any fat in a very bloated administration. 1900 people and the budget is very out of control. Hire more people.? If your that out of touch that you think reducing tax increases is budget restraint there is no hope for you. A tsunami to wipe out the DOT is the only thing that can save such flawed logic. Welcome to the Animal Farm. Mayor and Councilors please take note this is not doing any good you can’t stick your head in the sand on this one. 20% staff lay-off at least...parks and rec, landscaping? Art grants? The rest of the town is bleeding...let them eat cake I guess? clueless and tone deaf. A very sad state of denial.
The financial department needs more staff to efficiently administer the funds generated by our booming tourism sector. Glad to see the District of Tofino taking steps in this direction . Tofino’s designation as a resort municipality is truly seeing us through any slight downturn that other municipalities envy.
ReplyDeleteThe Iced Tea consultants advise to abandon tourism and join the civil service. Prudent.
ReplyDeleteThe DOT, truly the growth industry in Tofino. Seriously DOT has grown faster than any other sector. How will it function when we all work for the DOT.
ReplyDeleteand perfect timing, optics are truly astounding
Disgusting.
ReplyDeleteThe City of Vancouver can expect to lose a lot of revenue as a result of COVID-19.
ReplyDeleteThat's one of the takeaways from an online survey conducted by Research Co. on behalf of the Vancouver mayor's office.
Another takeaway is that city residents have been hit hard financially by the economic contraction.
Only 68 percent of homeowners surveyed said that they could cover their full mortgage payments last month.
Research Co. reported that only 55 percent said they will be able to do this in May.
Ominously for the city's finance department, 25 percent reported that they will pay less than half of their 2020 tax bills. Six percent plan to pay no property taxes when they become due.
“The research is clear—the city’s finances are going to be negatively affected by COVID-19 due to lost revenues and hard-hit homeowners defaulting on their property taxes,” Mayor Kennedy Stewart in a news release. “It’s illegal for Vancouver and other local governments to run deficits, so the only way we can stay afloat is with the help of the federal and provincial governments.
"Otherwise, local governments will be forced to take drastic measures that will hurt residents and businesses, and significantly slow any post-pandemic economic recovery.”
He pointed out that the city already expects to lose up to $189 million this year due to the pandemic.
https://www.cbc.ca/news/canada/british-columbia/bc-municipalities-covid-19-finances-update-1.5533055
ReplyDeleteThere is clearly something very wrong in the finance department. A full and transparent performance review should take priority over new hires.
ReplyDeleteIt’s kinda like car camping.I go to my friend’s house ,in my pyjamas and I eat breakfast sitting in a lawn chair in her driveway.
ReplyDeleteGood Vibes
https://www.theglobeandmail.com/canada/british-columbia/article-western-canadian-cities-face-dire-financial-effects-from-coronavirus/
ReplyDeleteucluelet finance dept is 3 people
ReplyDeleteWhat else is new. District spending is out of control and they keep spending money they do not have. There was even 1 item on the last council agenda allowing the district to borrow money based on expected revenue. that is great planning except the money that gets spent before the tax money arrives needs to be there to make payments on expenses after the tax payments arrive. Shortfalls are to be covered in situations like this by reserve funds. Oh I forgot, Tofino doesn't have wheelbarrows full of reserve funds because the district doesn't believe in planning for a rainy day.
ReplyDeleteListening to the Mayor yesterday on the entertainment Channel was thought-provoking. As I read it she is proposing that the deep state in the village office is already preparing a new disaster plan for the next time this virus stuff might come around.
ReplyDeleteWell it's not her fault she did not acknowledge that the current fiasco has made one thing glaringly clear.
The economy as we know it here and everywhere else it's based on a greed contest. Whoever has the most money wins contest. In peoples haste to grab as much as they can, they do crazy things. Whoever has the most money wins.
.... And forget some of the most basic human values i.e. Compassion, sympathy, empathy, decency, commonsense, community values, and cooperation, besides greed.
So tourism Tofino sequestered within the secrecy of the district office command centre is planning on dreaming up new different exciting dynamic opportunities for tourism once the flat tire is changed.
We all know what that means:tourist dollars for virtual nature tours, real time maps, online videos of the Mayor, sustainable bed-and-breakfast online tours, paid advertisements galore etc etc... That's why we need a new finance person coming from tourism toFino... A paid tourism consultant on staff to help dream up what will keep people from asking what is going on in the district office now for $9,000.
They hired this new "financial manager", but only at reduced hours. Now the manager of Community Sustainability has created a "need" for her, as part of the planning team regarding recovery from Covid19. We can assume she'll now be full time.
ReplyDeleteWe are well and truly buggered.
ReplyDeleteNot surprising. Council put it's proverbial toe into the water, looked at taxes, saw their reflection in the pond, and chickened out. They decided it was cold. Let's spend our way forward, again. This has been, the default, go to, response for years. But what could we expect from a council composed largely of comfortable gov't employees, tax chisellers and failed small business entrepreneurs who need their council stipend to make a living.
ReplyDeleteI read that the Gov't of New Zealand has taken a 20% wage cut for the duration of the Covid response. Till things pick up.
I would vote for these people in a heart beat. That is leading by example.
DOT is not looking to actually trim any fat in a very bloated administration. 1900 people and the budget is very out of control. Hire more people.? If your that out of touch that you think reducing tax increases is budget restraint there is no hope for you. A tsunami to wipe out the DOT is the only thing that can save such flawed logic. Welcome to the Animal Farm. Mayor and Councilors please take note this is not doing any good you can’t stick your head in the sand on this one. 20% staff lay-off at least...parks and rec, landscaping? Art grants? The rest of the town is bleeding...let them eat cake I guess? clueless and tone deaf. A very sad state of denial.
ReplyDelete