Pandemic continues to impact Winnipeg's financial outlook
CTV News file image of Winnipeg City Hall. (Zachary Kitchen/CTV News)
The latest financial update from the City of Winnipeg shows continued shortfalls in both general and transit revenues.
The unaudited report up to Dec. 31 stated there was a deficit of $22.3 million in the tax-supported operating budget and an additional $3 million shortfall from transit.
The city estimates its total COVID-19-related financial impacts will be $73 million for 2021, bringing total financial pandemic impacts to $206.6 million.
“The financial impacts of COVID-19 will have cost the City approximately $206 million over three years,” said Finance Chair Scott Gillingham in a statement. “As we emerge from the pandemic, we need to focus on job growth, business recovery, and restoring transit ridership.”
For 2021, the city had built $61.2 million into the budget in anticipation of COVID-19 impacts but identified an additional $11.8 million. The Financial Stabilization Fund will cover the general revenue shortfall.
Snow clearing operations in 2021 went over budget by $11.2 million with November and December snowfalls costing the city about $22.7 million. The total snow and ice removal budget for the year was $35 million.
A year-end financial update will be presented to the city’s finance committee on Feb. 14.
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