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What does a city really borrow against when it takes on debt? Every municipal project has a price tag. But the construction estimate is only the beginning. Behind every recreation centre, arena, road, park and major infrastructure project sits a financial structure built from taxes, development charges, user fees, borrowing, operating costs, maintenance and future replacement. And behind that structure sits an economic base made of homeowners, renters, businesses, developers and future taxpayers. THE TAXPAYER IS THE COLLATERAL follows the money. Using Maple Ridge, British Columbia, as a live Canadian case study and examining the broader municipal financing system across Canada business strategist and finance professional Eon B. Ranger approaches public borrowing the way a CFO would approach a major capital investment. Not by asking whether a project sounds good. By asking whether the numbers work. Inside, Ranger examines: • How future municipal revenue becomes today's borrowing capacity The book introduces Ranger's analytical tools—including the, FOLLOW THE TAXPAYER™, THE SECOND PRICE TAG™, TAXPAYER BALANCE SHEET™, MUNICIPAL CAPITAL GATE™ and TAXPAYER STRESS TEST™ to translate complex public-finance decisions into questions ordinary citizens can ask. This is not an argument against infrastructure. It is not an argument against municipal borrowing. It is an argument for understanding the complete financial obligation before committing decades of future revenue. FOLLOW THE MONEY. Because the most expensive number in public finance may be the one nobody thought to ask for.
• How property taxation supports the municipal revenue engine
• Why the construction price is only the first price tag
• How debt service competes with future municipal priorities
• How taxes and government charges move through businesses, rents and household budgets
• How development charges affect the economics of new construction
• The difference between borrowing capacity and taxpayer affordability
• What happens when construction costs, interest rates or growth assumptions move against the financial plan
• How taxpayers can build the financial statement municipal budgets rarely provide in one place
RUN THE NUMBERS.
RUN THE DOWNSIDE.
ASK THE QUESTIONS.
MAKE YOUR OWN DECISION.
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