A Credit Rating is Relevant

The summary is much appreciated . It needs to be read a couple of times.. Then again, for practical purposes, it helps to experience the situation. 

I was  trying to understand impact , if any , it would have on the Region and  ourselves. 

The Mayor has cited the Region's healthy credit rating to illustrate how well things are .

In the Province, thousands of jobs were lost, businesses failed ,  tax revenue must have taken a hit  with economic downturn. 

Decisions like the cancellation of  gas-fired hydro generation plants costing $1.2 billion.the Air Ambulance contract  also  saw millions flow  through governments fingers with nothing to show obviously exacerbated the situation. 

Whereas in the Region, with only property tax as a revenue source, all they had to do to stay afloat, was dig  hands deeper into home-owners  and business pockets  to increase revenue to pay for peccadilloes.

Municipal operating budgets cannot be financed by borrowing.  Needs must be forecast and  taxes raised accordingly. 

On the other hand, a homeowner who loses his/her job, has a different problem. They soon hit rock bottom. 

Shelter is not an option. Property taxes taking a bigger bite out of the family budget leaves  less for other essentials.

Neither wants nor needs are met. 

Desperation and stress lead to friction, bad things happen,the social structure collapses and costs 

for government intervention rise. Unless of course there are cuts instead. 

But of course. not in Aurora. Ours is an affluent community. Google,the new bible, tells  us so. 

The Region's credit rating is sound. 

The Honorable Kathleen Wynn assures us a " negative" rating from Moody's doesn't mean you have to stop spending or even cut back .  No mention is made of increasing taxes, Usual principles do not apply .

All is right with the world.

Tinker Bell is on the wing