Defending the reserves

Carter
Carter Haydu
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Coun. Terry Coleman

Coun. Terry Coleman, who is a member of the Mosaic Place and field house operating board, said establishing reserves for the two facilities is in fact very prudent business.

“It’s a good decision, because some years things might not go quite as planned, and those reserves will be very important,” he said during Monday’s regular council meeting, as council considered its decisions from last week’s executive committee meeting.

What worries Coun. Dawn Luhning about the amount of money going into the accumulated surplus fund and capital reserve fund for Mosaic Place and the field house is the facilities’ 2011 surplus could have greatly reduced the tax increase necessary for 2012.

“It’s unfortunate that tax increase is being held for a cushion for the facilities to move into the operations for 2012 and do whatever they need to do, when we have other things happening around the city,” she said, adding council’s priority should be infrastructure needs.

Last week, the majority of councillors and the mayor voted to allocate $275,000 from the Mosaic Place and field house 2011 budget surplus towards an accumulated surplus fund for the facilities, and allocate another $275,000 towards a capital reserve fund for the facilities.

The remaining $287,300 of the $837,300 surplus would be returned to the City of Moose Jaw.

The majority of council affirmed its executive committee decision on Monday, voting to establish the two funds at the $275,000 amounts. Only Luhning, along with Councillors Brian Swanson and Don Mitchell voted in opposition.

For more on this story, read an upcoming edition of the Times-Herald.

Organizations: Times-Herald

Geographic location: Moose Jaw

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Recent comments

  • B
    May 16, 2012 - 23:26

    C'Mon Sammy , Get of your high horse and realize that we've been taken in by a much higher power, FAB 5, and now FAB4. And don't forget your elustrious city administration. Hold on, the ride has just begun!!!!! LOL

  • Realist
    May 16, 2012 - 22:01

    Sam,maybe with your line of thinking,What's good for one,will be good for all.Why don't you get ahold of the infamous 4 on city council and see if you can get a generous surplus revenue fund set up for the library,mae wilson theatre and the museum and even the rest of the hockey rinks in town and put it towards your good ,prudent planning.I don't think it would cost much more than several million dollars,Do you?

  • Stu Griffin
    May 16, 2012 - 18:35

    Yo Sammy...What are you smokin in that pipe of yours, at least share....Please!

  • Humberto Davalos
    May 15, 2012 - 15:27

    Thank you to you and councilors Swanson and Mitchell for once again defending the interests of the taxpayer over those of special interests. Another tax increase on top of an increased hospital levy. Has anyone walked the blocks on either side of the multiplex? The 'revitalized' downtown? Pretty sad to say that I am looking forward to my layoff from Valley View in 4 years so I can move to a city where the streets are lined with pavement (I don't ask for gold. Just pavement). The joke will be on the rest of the Moose Jaw tax base when 550 full time equivalent jobs paying a very decent living wage are gone. The minimum wage, part time multiplex jobs watering bushes at midnight will not sustain this town. Once again thoroughly disgusted with three councilors and our mayor.

  • Sam
    May 15, 2012 - 10:58

    Good decision by city council. Having money set aside in a reserve fund for future years is a prudent financial decision. Past city councils have wisely set aside funds in reserve for infrastructure and equipment, which negates the need to raise taxes every time a capital expenditure or operating expense incurs an increase. The doom and gloom crowd will always be with us and I have empathy for their plight, as it must be a miserable existence.

  • MJD
    May 15, 2012 - 10:03

    Councilor Coleman, is just another bureaucratic, fiscally irresponsible elected official who has NO respect for taxpayers dollars! He seems to easily forget that the money he is talking about is hard-earned TAXPAYER money and should go back to taxpayers! If the Multi-mess people need more money they should have to ask for it not sit on a "bundle" of it for their discretionary use! These four really need to go!!!

  • Hank Swenson
    May 15, 2012 - 09:19

    It is not a business it is a publicly funded building. What kind of tax increase would this cause if everyone they city gave funding to carried a 550,000 surplus every year. We need accountability in this community and these clowns need to go.

  • Realist
    May 15, 2012 - 06:29

    It's hard to wait until this fall for the next election to punt these 4 bafoons out of council.Other amenities in mj are not given a reserve fund to operate with,just the multi-mess.All this and the result will be the same as what happened to chilliwack's arena in the end.The only question that we have to ask ourselves is,How much? How long?