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The C.D. Howe Institute concluded that Toronto (of all places) has the best record of any Canadian city over the past decade in terms of accurate budgeting.
The C.D. Howe Institute concluded that Toronto (of all places) has the best record of any Canadian city over the past decade in terms of accurate budgeting.
(Fred Lum/The Globe and Mail)

When a Canadian city’s surplus is a bad thing

In its continuing quest to shame various levels of Canadian government into better fiscal practices, Toronto-based economic think tank C.D. Howe Institute has put Canada’s cities under its microscope. It discovered a river of surpluses at the municipal level – and an accounting hodgepodge that blurs and distorts those numbers, leaving them near-impenetrable to anyone but the most expert analyst.