Toronto Council meets today!

"I can speak specifically to Taylor Swift," says CFO Stephen Conforti. He means in terms of her economic impact. He's not calling her up. Conforti notes the Eras tour concerts in T.O. brought in $40 million in tax revenue, but Toronto only got ~$500K.

Colle: Do we ever tell Toronto residents that most of their money goes to the big fat feds and the big fat Queen's Park?

Nunziata: Can you ask a question on the budget? We're not talking about the big fat feds.

Colle: Well they ARE the big fat feds.

Conforti offers an example: over the last 9 years, the average Toronto household's income tax payments increased by about $ 9,000. Their property tax payments grew by $914.

Mayor Chow is up to speak on her budget. She recounts a tale of going grocery shopping with a resident named Natasha, and seeing her struggle with the prices. "We were told the number one priority from the residents that we represent is that they need this budget to make their life affordable."

After Chow makes her pitch, Councillor Holyday asks Chow about the use of reserve funds in the budget.

Chow says this budget is the result of "prudent fiscal management" where the city saved money over the last few years for things like FIFA, collective bargaining agreements, and shelters.

"How do we face the public knowing that our expenses will continue to go up, and we won't have reserve funds to offset those costs?" asks Holyday.

Chow says reserve funds will continue to grow. She's hopeful the federal gas tax contribution to municipalities will increase, which will help even more

"Will you commit that if you are re-elected, you will deliver next year's budget also at the rate of inflation?" Councillor Brad Bradford asks Chow.

Chow runs out the clock talking about reserve funds and affordability. She notes Bradford advocated for using reserve funds in recent years.

"You are effectively trying to buy Torontonian's votes with this budget," says Bradford. "Do you know how much you'll have to raise taxes to replace the $550 million draw you're raiding from the reserves this year?"

Chow rejects the premise. Again points out Bradford tried to use reserves last year

Moving on, Chow notes that she recently gave PM Carney a card for the Chinese New Year with a house on it. Inside, she wrote a message about building fast. (It's the year of the horse, and horses are fast, she explains.)

Budget Chief Carroll has A LOT of motions, including:

- $6.2 million to offset fed funding for youth violence prevention, if necessary
- $355K for rat response and coyote coexistence
- $300K for youth hub in Scarborough
- $150K for Scarborough food scene pilot

More Carroll motions:

- $200K for free school field trips to the zoo
- $100K for Cecil Street Community Centre
- $32K for Neighbourhood Climate Action Grants
- $30K for Weston Area Emergency Supports
- $75K for Weston Community Association
- $35K for fireworks at Mel Lastman Square

Even more Carroll motions:

- $45K for banners in Little Iran
- $80K for Malvern community initiatives
- $15K for vehicle theft prevention pilot
- $150K parks in Don Valley West
- $100K for drop-in centres
- $185K for legal services for tenants

And yet more motions from Carroll:

- $7K for Thorncliffe Park Sports
- $50K for micromobility in Greektown
- $90K for pest removal at Toronto Seniors Housing.

"There's nothing there! Nothing but the hiring plan and the collective bargaining agreement," says Carroll of the police budget increase. She says that's also true of many other departments.

"I hope you will keep that in mind and not plunder these budgets," she adds.

Councillor Holyday has three motions, all in service of reducing draws on reserve funds:

- Eliminate the new fare capping policy on TTC
- Start charging fares for kids under 12
- Increase TTC fares

Councillor Holyday requests that the City Clerk install a red warning light on the desks of councillors. "I want that red light to show that the gas tank is empty. We're running on fumes. That's the fuel warning light — that we're drawing down on reserves to make the budget appear as it does here."

On behalf of Deputy Mayor Malik, who is not in the chamber, Councillor Morley moves to add $450K to fix up the Amsterdam Bridge on the waterfront, and $2.125 million to revitalize Victoria Memorial Square. Both funded via dev fees.

Councillor Mike Colle takes a moment to encourage people to visit their local Italian bakery.

And that, appropriately, brings us to lunch. Back at 2 p.m. to polish off this budget debate.

Council is back. Councillor James Pasternak moves to remove $4 million in near-term funding for a new homeless shelter on Wilson Avenue, saying the project needs more time for consultation.

"We're the leading producer of housing in this country, yet we were cut by $10 million from the Housing Accelerator Fund based on a petty dispute over sixplexes," complains Pasternak.