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Is Toronto Broke? Making Sense of the Numbers: Municipal Finance in Toronto. Enid Slack Institute on Municipal Finance and Governance Munk School of Global Affairs October 4, 2011. Outline. Toronto’s budget – where the money goes; where it comes from

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is toronto broke making sense of the numbers municipal finance in toronto

Is Toronto Broke?Making Sense of the Numbers: Municipal Finance in Toronto

Enid Slack

Institute on Municipal Finance and Governance

Munk School of Global Affairs

October 4, 2011

outline
Outline
  • Toronto’s budget – where the money goes; where it comes from
  • Fiscal challenges facing the city and what they have meant for Toronto’s fiscal health
  • The role of the property tax
  • What do other cities do?
  • How to fund city services: the need for a mix of taxes
slide3

Source: City of Toronto, Where the Money Goes, 2010 Budget - News Releases and Fact Sheets, 16 February 2010, http://www.toronto.ca/budget2010/pdf/op2010_factsheet_wheremoneygoes.pdf

slide4

Source: City of Toronto, Where the Money Comes From, 2010 Budget - News Releases and Fact Sheets,

16 February 2010, http://www.toronto.ca/budget2010/pdf/op2010_factsheet_wheremoneycomesfrom.pdf

different services different revenue tools
DIFFERENT SERVICES – DIFFERENT REVENUE TOOLS

Private PublicRedistributive Spillovers

Water Police Social assist. Roads/transit

Sewers Fire Social housing Culture

Garbage Local parks Social assistance

Transit Street lights

___________________________________________________________

User fees Property tax Income tax Transfers

Sales tax