With the economic downturn continuing, the City of Calgary is keeping a close eye on what’s happening but isn’t looking at any cutbacks to city employees or spending just yet.

“I can see the potential for that but I don’t think we’re ready to do anything like that yet,” said Ald. Ric McIver.

He said that city administration is receiving regular updates a couple of times each week on the ever-changing financial situation.

McIver said he hopes if changes do need to be made to amend the budget, administration will be prepared to do so.

“I think Calgary is uniquely positioned to succeed during these trying times but we still need to be vigilant and stay on top of these changes as they come so that we can make adjustments without hurting the city or its residents,” he said.

McIver added he feels that that constant vigilance is necessary “until we’re long past the danger point.”

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