| Looking ahead to improved financial position |
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| Local Content - Editorial |
| Written by production |
| Thursday, 11 March 2010 16:55 |
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As Albertans, we seem to be able to weather financial downturns in the economy better than some parts of the country. Having said that, the past year has been a challenge on many fronts and while the financial picture has begun to show signs of improving, there are still likely to be tough times ahead. On one hand, some industries and sectors of the local economy have been trying to hold on through the tougher times, which means the full impact of the financial crisis in North America may not be felt until later this year. While some businesses felt the impact right away, others were able to hold off, tighten their belts and make do over the past 12 months. The true picture of how our local economy will survive and move ahead will come to light over the next 18 months. There have been some sectors harder hit than others, although ironically not everyone took the call for fiscal responsibility to heart. For every business person who gave careful thought to what the future may bring in terms of an economic recovery there was the flip side, where people believed the downturn in the economy was only a temporary setback. Fortunately we need both types of people to keep our economy moving along. If everyone pulled back on the reins there would be no growth and the economy would be even slower to recover. There needs to be a balance in both spending and saving for the future. On the municipal level this is especially true. While projects still have to move a head in order to protect infrastructure from further deteriorating and municipal services have to be maintained, all of our communities have to take a hard look at the difference between wants and needs. Public input was recently sought by Palliser Regional Schools from its stakeholders on the upcoming budget for the new school year. Once again the conflict between wants and needs was part of the discussion. Pleasing everyone, whether its on the municipal level or in our local schools, is impossible and with the financial picture being what it is in our province and at the federal level, there are some tough decisions coming down the road. Local residents have to take a hard look at what they are willing to fund through taxation, what the priorities should be in both their community and in their schools. Municipal government and school divisions need to know what these priorities are in order to make the best informed decision possible. This team approach to financial management is the only way we can look positively into the future. |
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