City has millions in rainy-day fund
With about $140 million in the city's rainy-day fund -- and hundreds of millions of dollars more in other municipal reserves -- some are arguing that, with Calgarians facing a compounded 25 per cent tax increase, the weather's never been worse.
"If a 10 per cent tax hike doesn't call for re-examination of the reserves -- pull some money out to soften the blow to taxpayers -- my goodness, I don't know what would," said Dan Kelly, with the Canadian Federation of Independent Business.
http://www.canada.com/calgaryherald/news/s...2f-88d7d81cf7e5