City of Brandon, Manitoba, a small city with just a population of 180,000, would perhaps be doubling the tax in the coming years due to serious shortages of funds to the infrastructure projects and other services. BNP, financial management firm was called to look into sustainable future of the city and they have suggested the city for an unusual tax hike. According to BNP report published by the City would need monies they didn’t know how to produce unless the taxes are doubled.
Brandon’s existing capital plan outlines the need for $680 million in spending from 2024 to 2033, including $347 million for utilities-related projects and $333 million for non-utility capital projects. The City’s budgeted reserve appropriations and withdrawals are projected to reduce the City’s reserves to $53.7 million at the end of 2023, down from $74 million at the start of 2019. With reserves at their current levels, debt will be required to fund up to 32% of the total capital plan over the next decade.
