Saturday, April 21, 2007

TheStar.com - News - City about to go broke, staff say

 

How much does it cost to float payroll for Toronto? 

In fact, the city pays out more than $100 million each pay day. If revenue inflows get delayed significantly, the city's working capital reserve is supposed to cover the shortfall and allow workers to cash their cheques.

Source: TheStar.com - News - City about to go broke, staff say

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