To the editor:
I think folks would like to know how the 2017 surplus went from $2.8M several weeks ago to $5.6M now.From TBTnewswatch story when city council approved the 2018 budget several weeks ago....
But Coun. Trevor Giertuga insisted that wasn’t enough, advocating for $2 million of the forecasted $2.8 million positive variance to be put against the budget.
From May 28th, Committee of the Whole agenda Report R59-2018:
AND THAT the 2017 tax-supported surplus of $5.6 million be transferred to reserve funds as follows: $0.5 million to the Legal Fees Reserve Fund, $0.9 million to the Insurance Reserve Fund, $1.1 million to the Stabilization Reserve Fund and $3.1 million to the Renew Thunder Bay Reserve Fund;
Shane Judge,
Thunder Bay
