Manitoba reporting $270M surplus for end of fiscal year
Canadian currency. (CTV News)
Manitoba finance officials are reporting a $270 million surplus for the end of the 2022-2023 fiscal year.
The numbers are an improvement over a previous projected deficit of $548 million.
The surplus position is attributed to an additional $2 billion in revenue from corporate and personal income taxes, federal transfers and Manitoba Hydro.
The province says Hydro is up due to favourable market and water conditions.
However, when looking at the numbers based on Manitoba’s balanced budget legislation, the province is in the red by $368 million because Hydro’s numbers are excluded.
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