Panel data provided by Madison's Canadian Lumber Reporter.

Getting Debt Figures No Easy Task

By Ben Meisner

What is so troubling is the effort that was required to find out the true depth of the City of Prince George's debt. 

The first release to Council (in which a report states that we have the ability to borrow yet another $100 million dollars) was spin at its finest. 

It is fair to say, the city laid a con job on the people. Instead of telling it the way it is, that we indeed are heavy in debt, we got information about how our new credit card issued by the province would enable us to borrow yet more money. 

Kamloops, looking to the future has been paying down debt. 

Kelowna with 105,000 people has a debt (including Terasen gas) of $82,320,000 compared to our city with a population of about 77,000 owing $154,500,000 . 

Kamloops by comparison owes $37, 434, 432. 

We are told our taxes are the one of the lowest in the province, which is wrong, we are constantly trying to fluff the figures on our population and the reality is, those 77,000 souls have been paying the price in increased taxes year after year and yet, unless I have missed the meetings, not one word about the City's burgeoning debt.   I asked one Councilor  why?  "Well, I don’t want to stir the pot, you know, they won’t think I’m a team player."  To hell you say… I was always under the impression, we elect people to represent the interests of the people and that means taking a stand on issues that both the rest of Council and the Administration may not like. 

So where are we?  We will pay $ 5 million towards the sports center at UNBC, although City hall says we may not need to borrow that amount.  We may drop a minimum of $ 7.5 million for the Cameron St. Bridge, (which by the way if we go it alone could cost upwards of $22 million) and suddenly our debt is approaching $200 million dollars. 

Now that might be okay in a city that is growing leaps and bounds, but maybe you folks at City Hall didn’t hear Jim Shepherd, CEO of CANFOR and his comments this week that the hardest hit areas from the beetle kill problem will be Quesnel and Prince George. 
He said we have a window of 7 - 10 years before we hit the wall or find something else to carry this city.

 So who will be called upon to pony up the money for an economy that is in the tank?

The City's debt however does not end here. What has taken place in recent years has been a shift of that debt from the city on to the Regional District. 

The Regional District is now picking up the tab (in large measure) for the operation for the Art Gallery, Discovery Place and The Rail Museum. Believe me the operation of these three items does not come cheap. 

On the other side of the ledger, we need to try and repair our roads left in a bloody disgraceful condition by years of neglect. How are we about to repair them?  Well by borrowing yet more money to fix the problem. 

This Council (and many before) has bowed to the special interests in the city. We have lived on a champagne budget while bringing home beer wages and it is, painfully, showing. 

So those Councilors, along with the Mayor, who got us into this mess will have to huddle in the corner on this one to try and spin it.

The facts are the facts.  We have done a dismal job on looking after our credit card and while other cities, provincial and federal authorities are trying to reduce their debt, we are blindly signing the card hoping that tomorrow never arrives. 

Believe me it will. 

As a foot note, not one single candidate in this election has brought up the matter of the City's huge debt … Why not ?

I’m Meisner and that’s one man’s opinion. 



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