The city’s $147 million surplus shrank by about a third, city administrators revealed Tuesday.
Last week, Chief Financial Officer Carla Mae told the council it had $147 million in surplus funds. That big reveal set off a series of suggestions about what to do with the money, ranging from improving public transit to returning it to the pockets of Calgary taxpayers to Rae suggesting the cash be kept in the city’s reserve fund.
This week brought a new twist: administration told councilors the surplus is actually only $105 million, mainly because council increased spending for this year, during last fall’s budget debate.
Several councilors said they were frustrated over the changing numbers and they want to know why the city’s administration can’t give them more accurate numbers when they need them.
No decision has been made about what to do with the $105 million surplus.