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Published on Friday, July 31, 2015

Oakville fiscal health ranks #1

U of T economics professor checks municipal finances

Oakville fiscal health ranks #1
By Rob Burton, My View, Oakville Beaver
Oakville ranks at the top of the list when measuring municipal fiscal health. University of Toronto Professor Enid Slack’s 2015 book, Is Your City Healthy? Measuring Urban Fiscal Health, looks at elements of fiscal health for cities. Slack is Canada’s top academic expert on municipal finances. Her book explores ways to measure fiscal health.

The book lists Oakville as the municipality in Ontario with the highest fiscal health. Oakville’s fiscal health is 32 per cent stronger than the second-place city. The findings that led Slack to rank Oakville as No. 1 included:

  • low debt-to-tax ratios,
  • low tax arrears,
  • high revenue raising capacity,
  • estimates of a low fiscal gap and other financial factors, which are detailed in the book.

With the highest rating for financial health, Oakville is well-placed to meet the financial and service needs of our community now and in the future. This means, as Oakville residents, you can continue to feel confident in the high level of services and programs the Town provides, as well as our fiscal health.

As a council, we will continue to keep Town finances strong and stable and property tax increases at or below inflation. Together we can be sure to keep our No. 1 ranking for municipal fiscal health.
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Author: Mayor Rob Burton

Categories: Opinion




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