In spite of a KPMG report that detailed gross mismanagement when it came to the bid and constructions processes attached to the Olympic Village,
The Vision Vancouver administration was able to
plug the leak in financing for the Olympic Village.
coverage from some of the mainstream media entirely missed the point:
Vancouver’s Olympic village $131 million over budget: report
As noted by Frances Bula, this kind of analysis is “just plain confusing.”
And here is the reason for the confusion:
“Costs overruns and the Olympics also go hand in hand. The city of Vancouver, which will host the 2010 Winter Olympics, is $6 billion in debt, a tab that will be picked up by taxpayers. And the 2012 Summer Olympics in London are four times more expensive than the initial budgeted figure–with a total cost running currently at $20 billion, nearly three years ahead of the opening ceremonies.” – Bob Quellos, Co-founder of No Games Chicago
As has been mentioned in one of CivicScene’s early factoids, Canadian municipalities operate at the whim of the provinces, and are extremely limited in the autonomy over their financial capabilities.
As such, one might be inclined to assume that municipal resources would be managed with a higher degree of care than other levels of government, whose levers for revenue raising are considerable.
In recent years, that would be an inclination that had little to do with reality, prompting the reason why I am so anxious to read over the KPMG report on the Olympic Village, which is expected to be released either today or tomorrow.
This City of Vancouver administrative report from September 18, 2006, is just one of a never ending list of examples as to why things need to dramatically change at City Hall. Read the rest of this entry »
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“Perhaps it was my silk dress or the new perfume I’ve been wearing lately. When I asked Suzanne Anton what her New Year’s resolution was, she replied, “To kiss a pretty girl!” and pecked me on the cheek.” – Writer Emily Barca describing her encounter with the lone NPA City Councillor on New Year’s Eve.
