Mr. Bob Peters problem with the Reach ‘surplus’ lies in his mistaken attempt to apply rational and/or logical thought processes to the financial dealings of Abbotsford city council and staff.
When dealing with financial matters of the City of Abbotsford one must toss out logical and rational thought and use ‘Abbotsford council and staff think’.
Yes, in the real financial world that exists outside of Abbotsford City Hall if you invested $637,500 in the operations of the Reach and only got back $23,952 you would have had a loss of $613,648.
However in Abbotsford City Hall how much it costs to have any monies left or fees collected is of no interest to mayor, council or staff. Such money is given a label such as surplus or earnings etc. and is cause for council to boast of its financial prowess.
In Abbotsford City Hall, particularly with financial matters, reality or the true nature of something has no place in decision making or (mis)informing the taxpayers. All that matters is what council and staff chooses to call it; or at least that is all matters to council or staff.
In future Mr Peters needs to remember that logic, rationality, good financial practices, reality, something’s true nature and common sense have nothing to do with the manner in which the City of Abbotsford is run or taxpayer dollars are squandered.
Aside to council: I want to help council and staff increase the ‘surplus’ for the City of Abbotsford. Make the cheque payable to James W. Breckenridge, in the amount of $637,500, and as soon as the cheque clears (Sorry, but with the financial position council and staff have put the city in one must be careful) I will cut a cheque to the City in the amount $23,952, thereby doubling the ‘surplus.
Re: “No deficit for the Reach”
How is it possible for the Reach to have surplus of $23,952 when they require $637,500 from the taxpayer in 2010? Is that not a deficit of $637,500?
When the Abbotsford Entertainment & Sports Centre is subsidized from the City of Abbotsford it is considered a deficit to the taxpayer.
Will the Reach actually have a profit? What part of this equation do I not understand?
Bob Peters Original article
