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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. 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

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  1. 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

  2. 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

  3. 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

  4. 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

  5. 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

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