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Councillor Holyday requests that the City Clerk install a red warning light on the desks of councillors. "I want that red light to show that the gas tank is empty. We're running on fumes. That's the fuel warning light — that we're drawing down on reserves to make the budget appear as it does here."

Councillor Holyday has three motions, all in service of reducing draws on reserve funds:

- Eliminate the new fare capping policy on TTC
- Start charging fares for kids under 12
- Increase TTC fares

"There's nothing there! Nothing but the hiring plan and the collective bargaining agreement," says Carroll of the police budget increase. She says that's also true of many other departments.

"I hope you will keep that in mind and not plunder these budgets," she adds.

And yet more motions from Carroll:

- $7K for Thorncliffe Park Sports
- $50K for micromobility in Greektown
- $90K for pest removal at Toronto Seniors Housing.

Even more Carroll motions:

- $45K for banners in Little Iran
- $80K for Malvern community initiatives
- $15K for vehicle theft prevention pilot
- $150K parks in Don Valley West
- $100K for drop-in centres
- $185K for legal services for tenants

More Carroll motions:

- $200K for free school field trips to the zoo
- $100K for Cecil Street Community Centre
- $32K for Neighbourhood Climate Action Grants
- $30K for Weston Area Emergency Supports
- $75K for Weston Community Association
- $35K for fireworks at Mel Lastman Square

Budget Chief Carroll has A LOT of motions, including:

- $6.2 million to offset fed funding for youth violence prevention, if necessary
- $355K for rat response and coyote coexistence
- $300K for youth hub in Scarborough
- $150K for Scarborough food scene pilot

Moving on, Chow notes that she recently gave PM Carney a card for the Chinese New Year with a house on it. Inside, she wrote a message about building fast. (It's the year of the horse, and horses are fast, she explains.)

"You are effectively trying to buy Torontonian's votes with this budget," says Bradford. "Do you know how much you'll have to raise taxes to replace the $550 million draw you're raiding from the reserves this year?"

Chow rejects the premise. Again points out Bradford tried to use reserves last year

"Will you commit that if you are re-elected, you will deliver next year's budget also at the rate of inflation?" Councillor Brad Bradford asks Chow.

Chow runs out the clock talking about reserve funds and affordability. She notes Bradford advocated for using reserve funds in recent years.

"How do we face the public knowing that our expenses will continue to go up, and we won't have reserve funds to offset those costs?" asks Holyday.

Chow says reserve funds will continue to grow. She's hopeful the federal gas tax contribution to municipalities will increase, which will help even more

After Chow makes her pitch, Councillor Holyday asks Chow about the use of reserve funds in the budget.

Chow says this budget is the result of "prudent fiscal management" where the city saved money over the last few years for things like FIFA, collective bargaining agreements, and shelters.

Mayor Chow is up to speak on her budget. She recounts a tale of going grocery shopping with a resident named Natasha, and seeing her struggle with the prices. "We were told the number one priority from the residents that we represent is that they need this budget to make their life affordable."

Conforti offers an example: over the last 9 years, the average Toronto household's income tax payments increased by about $ 9,000. Their property tax payments grew by $914.

Colle: Do we ever tell Toronto residents that most of their money goes to the big fat feds and the big fat Queen's Park?

Nunziata: Can you ask a question on the budget? We're not talking about the big fat feds.

Colle: Well they ARE the big fat feds.

"I can speak specifically to Taylor Swift," says CFO Stephen Conforti. He means in terms of her economic impact. He's not calling her up. Conforti notes the Eras tour concerts in T.O. brought in $40 million in tax revenue, but Toronto only got ~$500K.

"So for every dollar in taxes a Toronto resident pays, nine cents goes to the city, 91 cents goes to the big fat feds and the big fat provincial guys?" asks Councillor Mike Colle.

The CFO confirms that the majority of tax revenue goes to other levels of gov.

Councillor Colle asks about the city's development charge reserves, noting that some developers have been "crying the blues" and saying the city is "sitting" on big reserves. CFO says, indeed, there's $2.5 billion in the reserve, but $6.5 billion in projects that need to be funded with DCs.

Noting there's been "impressive numbers in terms of reduction of crime" recently, Councillor Michael Thompson asks the police chief what his "crystal ball" tells him about crime rates in 2026.

Demkiw says it's "very hard to speculate," but he's committed to driving the numbers down.

Councillor Burnside asks how much it would cost the city to have a city-wide snow removal service. Staff say a complete snow removal contract was estimated at $130 million a year, but that estimate was based on ~55 cm of snow per season and we've had 90 cm so far this winter.