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Category: Finances

City of Ottawa maintains Triple-A credit rating

Ottawa – The City of Ottawa’s Triple-A credit rating has been reaffirmed by international credit agency Moody’s Investors Service. This is the highest rating possible and reflects strong fiscal outcomes, a manageable debt burden, strong liquidity and a stable economic base. “This report once again affirms the City of Ottawa’s solid financial position and management practices,” said Mayor Jim Watson. “We have found the right balance as a municipality, and have done so while investing…
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Budget 2014 approved with the lowest tax change in seven years

Ottawa – City Council has approved the Budget for 2014 that delivers a 1.9 per cent tax change – the lowest change in seven years, and below the 2 per cent cap directed by City Council on May 8, 2013. The budget respects taxpayers’ expectations that its municipal government live within its means, improve service delivery and invest strategically in initiatives that will help shape the community’s future. “The approval of Budget 2014 is a…
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Draft Budget 2014 proposes lowest percentage change in 7 years

Ottawa – Today City Council tabled Draft Budget 2014, which delivers a stable financial plan that respects taxpayers’ expectations of its municipal government to live within its means, improve service delivery and invest strategically in initiatives which will shape the community in future years. Draft Budget 2014 proposes a 1.9 per cent tax rate, which is the lowest in seven years, and below the 2 per cent cap City Council directed on May 8, 2013.…
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Mayor’s 2014 Budget Address

[CHECK AGAINST DELIVERY] Introduction Good morning colleagues. Today I have the pleasure to Table the 2014 Draft Budget for the City of Ottawa. As in preceding years, I want to thank each and every one around this Council Table. Thank you for your input into this document which you all provide year round. Thank you for your commitment to making our City a better place in which to live, to work, and raise a family.…
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Budget 2014 overview

Taxes – At the beginning of its term, Council passed a fiscal framework that would limit tax increases to no more than 2.5% annually. It has done better than this target for three consecutive budgets. – In the 2014 Budget, Council is aiming to do even better, with a tax increase of no more than 2% – the lowest in seven years. Savings and Spending Since the beginning of its term, this Council has: –…
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