Toronto Life - The Informer

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In spite of everything, the city posts a surplus


—The city’s net operating surplus for 2013, according to numbers released on Tuesday. Contrary to popular belief, Toronto routinely posts year-end surpluses, in part because of some very conservative budgeting practices (the city is legally forbidden from running a deficit). Last year was evidently no different, despite all of Rob Ford’s scandals. Thanks, bureaucrats.