I like Coatesville City Councilman Ed Simpson's Idea

"The solution proposed Monday night would have had the city borrow $1.4 million from a trust fund set up after the sale of the Coatesville’s water and wastewater system assets. The money borrowed would be used for various expenses on an as-needed basis.

Council Member Ed Simpson felt that by doing so, they were just delaying the inevitable. Instead, he wants taxes increased to deal with the deficit, as council would eventually have to raise taxes anyway.

“The reality is the cost of services goes up every year,” he said.

Simpson said that the trust fund money could then be used to invest in businesses that could make money for the city.

“We need to find ways that we can invest that money to benefit the city to make it a destination for some of the year or increase revenue or increase taxes,” he suggested.

Simpson said that Coatesville could, for example, invest in the velodrome project to generate income for the city."

I really, really like what Ed said last night. 

SEE:

The Coatesville Times

Council votes against using trust fund to cover budget

June 11, 2013 | 0 Comment