Dawn Chorus: Finally, the rainy day option appears

Councillor Lotu Fili proposes alternative to Brown’s share sale to balance Auckland Council’s Budget, including borrowing $60 million more to offset cyclone hits in proper use of rainy day funds

Brown has accused his fellow councillors of being ‘financially illiterate.’ His own literacy needs improving. Photo: Lynn Grieveson/Getty Images

TL;DR: Finally, the Auckland City Council is fumbling its way towards understanding how to use its own balance sheet properly, as a buffer for its ‘rainy day,’ rather than as a ‘sinking lid’ that ‘starves the be…