Calgary councillors are dipping into city reserves to fund several projects while attempting to hold the line on property tax increases next year. More than three dozen amendments to the proposed mid-cycle budget adjustments are being discussed as council determines possible spending and savings.
As of 6 p.m. on Thursday, most of the amendments that were passed increased spending through one-time funding sources, while all of the attempts to cut from the budget were defeated.
Calgary will dip into its Fiscal Stability Reserve to provide $9.5 million for a new police firearms range and $15 million over two years was pledged to initiate recreation projects and upgrades, including at the Village Square Leisure Centre.
Council also decided to use $20 million from Future Capital Reserves to boost pavement improvement programs on roads.
“The reserves will run dry and guess what happens when reserves run dry? You have to increase taxes. …