Canadian Urban Institute

Download the presentations here:

- Enid Slack, Director, Institute on Municipal Finance and Governance at the Munk Centre for International Studies, University of Toronto
- David Amborski, School of Urban and Regional Planning, Ryerson University
- Grant Bishop, Economist, TD Bank Financial Group

Session Outline:

Many trees have been sacrificed to the cause of trying to understand the complex issues surrounding the sorry state of Toronto’s finances. Although interest in the issue is heightened because of the municipal elections this fall, another explanation is that there is simply no agreement about how to define “sustainability.” What is an appropriate test, and how should sustainability be measured?

The answers are not clear. But Toronto’s budget woes are by no means unique. The challenges of replacing aging infrastructure, investing in new capital projects while keeping a lid on ever-rising operating costs constrained by essentially flat revenue streams are common to most municipalities. The reality is that municipal decision makers have relatively little room to maneuver after provincially mandated obligations have been met. In Toronto, for example, public transit, policing and social/housing services accounts for almost half of a budget of more than $9 billion. Labour contracts represent a significant, difficult to change proportion of all spending.

Since there are strict rules about municipal indebtedness, what options do municipal leaders have? Can efficiencies be found? What is the appetite for increased taxes, higher user fees? Are these the right questions? Add your voice to the discussion and help refine the issues to be addressed by candidates for mayor in Toronto and the GTA.

Moderator: Michael Fenn, Interm CEO & President, Canadian Urban Institute

Speakers:

Enid Slack, Director, Institute on Municipal Finance and Governance at the Munk Centre for International Studies, University of Toronto
David Amborski, School of Urban and Regional Planning, Ryerson University
Grant Bishop, Economist, TD Bank Financial Group

Series Sponsor:

For event information, please contact Careesa Gee at cgee@canurb.com or via telephone, 416 365-0816 ext 221.