Are City Reserve Funds Real? BENN
How much of the City of Ottawa’s $436-million reserve fund is backed up by reserved cash? Aside from nil?
Unless an accounting reserve is backed by dedicated cash balances, it is just the sum of an endless number of bookkeeping entries.
For most of the last decade, the city has balanced its operating budget with the pixie dust of non-cashed based operating reserves.
It is long overdue for the city to focus on its sources and uses of cash and to observe the requirement that the cash-in, cash-out operating budget be truly balanced,
Ron Benn, a finance executive, has been a member of the Centrepointe Community Association for the better part of three decades.
For You:
Sutcliffe Drains City Reserves By A Third: Report
City Practises Dishonest Government: DOUCET
The City Has A Spending Problem: BENN
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– The Bulldog – News Feed Enter 
The City does have $1.7B in investments sitting on its balance sheet.
https://documents.ottawa.ca/sites/documents/files/2023%20Consolidated%20Financial%20Statements%20for%20City%20of%20Ottawa%20-%20AODA.pdf
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Neil, two things to consider.
The city spends over $4 billion per year in operating expenses. They collect most of that from property taxes in March and June. As such, it makes sense that they have what appears to be surplus cash/investments to the tune of $1.7 billion. What also makes sense is that this cash/investment balance will be used to fund the operating budget.
Second, IF the city had $1.7 billion in surplus cash, why are they borrowing money hand over fist to pay for the LRT, library etc.? Not to mention the plan to borrow about $500 million to fund Lansdowne 2.x.