Quote:
Originally Posted by puckluck2
I'm not sure how anyone can read this and not be persuaded that the money being used for the flood is the best way to spend it.
http://www.calgaryherald.com/touch/s...tml?id=8708676
"But we can’t deplete all of our cash reserves without a plan for filling them up again. We insist that community associations we fund, for example, always have 10 per cent cash on hand, and our policy is to have up to 15 per cent ourselves. So, if we use up our so-called “rainy day fund” for flood repairs, it will have to be replenished, and at this point the only source for that replenishment is — you guessed it — taxes." |
Sure and I think the flood is a unique situation that makes this a slam dunk.
But let's remember there was an appetite from City Hall to keep the money prior to the flood.
That's what I object to. It isn't there money to keep.