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www.independentfreepress.com Ted Brown............... 7 Sports ........... 14, 15 Calendar........16, 17 Classified........18-20 Directory .. RE 14, 15 50 Cents (+ GST) Circulation: 22,800 RAIDERS ADVANCE It's Knights out for Villanova as Georgetown posts 3-2 win PAGE 14 HOCKEY HERITAGE Georgetown's hockey community honours Finn Poulstrup 8-PAGE SECTION 56 Pages Halton Hills' award-winning newspaper THE INDEPENDENT & FREE PRESS By CYNTHIA GAMBLE Staff Writer THURSDAY, March 4, 2010 Sliding into spring Cohan Merkly, 2, of Acton took full advantage of the warm weather Tuesday as he and his mom dropped by the playground on Tanners Drive and tried out the slide, to make sure it was in good repair. One thing Cohan didn't realize-- those darn snow pants don't slide worth a hoot. Area playgrounds are likely to be busy over the next few days as the forecast calls for above-normal high temperatures. Photo by Ted Brown cial dividend, staff is projecting the TRSR will have a balance at the end of 2010, to be the same as 2009, at apSales of two hydro subsidiaries have proximately $350,000. The $350,000 resulted in a windfall for the Town of balance in the reserve is low by hisHalton Hills, and with an empty re- torical standards." serve account, it couldn't have come According to a staff report prepared at a better time. last year after a provincial review of Treasurer Ed DeSousa told the Town's financial position, Halton Hills council recently reserves have been dropping that Town reserves are at hissince 2005. The Province toric lows. identified this as a moderate In fact, the Tax Rate Starisk. bilization Reserve (TRSR)-- DeSousa attributes the one of council's main go-to draw down on the reserves reserves to keep taxes down-- to the Town's pay-as-you-go was on the verge of going into philosophy-- an attempt not the red. to incur debt-- over past few ED Based on the 2010 operyears. For example, in JanuDESOUSA ating budget commitments ary 2006, the Tax Rate Staand lower than expected asbilization Reserve had $1.5 sessment, staff was predicting the million, but since then unexpected reserve to be in a deficit position by capital projects resulting from infra$130,000. structure stimulus funding-- such as But Halton Hills Community Ener- the Acton Library, Trafalgar Sports gy Corporation (Halton Hills Hydro) Park and road works-- and other procame through with a special dividend grams have drained the account. of $620,063. The dividend resulted "Unfortunately due to the infrafrom the sale of the Halton Hills Fibre structure deficit that we have, we'll Optics Inc. and Hummingbird Wire- have no choice in the future but to less to Atria Networks for $4.75 mil- start incurring debt," he told council lion. The Town is the company's sole during budget discussions. "But that shareholder. is one of the reasons why are reserves HHCEC's president and CEO Art are low; low by historical standards of Skidmore made the announcement at Halton Hills and low in comparison a recent council meeting. with other municipalities. But we're In a report to council, DeSousa See TOWN, pg. 3 said, "With the inclusion of the spe- Hydro subsidiary sales aids record low reserves In I n Home H o m e Consultations Consultations at at REFINANCING? PURCHASING? 3 YEAR VARIABLE. CALL FOR DETAILS. 1.85% Broker FSCO #10259 Division of 1490845 Ont. Ltd. BOB WOODS, PA I N T · WA L L PA P E R · L I G H T I N G · H O M E D E C O R consultations@bergsmas.ca GEORGETOWN MARKETPLACE MALL 905-877-4193 (905) 877-1490 360 Guelph St., Georgetown