Report on Winnipeg's finances shows $83 million shortfall, plus more for transit

A newly released report reveals the City of Winnipeg ended 2022 with a shortfall to the tune of tens of millions of dollars.
The figures are from the city’s unaudited financial status report, which looks at the tax-supported operating budget.
It noted the city had an $83 million budget shortfall by the end of 2022, with an added $5 million deficiency from transit alone.
Officials say the shortfall can largely be blamed on the impacts from the COVID-19 pandemic and over-expenditures in snow and ice operations, which it says cost $52 million more than was budgeted for in 2022.
This includes $8.4 million spent in December alone.
Meantime, the city budgeted $41.3 million for anticipated COVID-19 financial impacts in 2022, but pinpointed an additional $12.4 million was needed for the year.
Some good news – the transit shortfall was ‘greatly reduced’ after the province allocated $19.4 million to the city from the federal government’s fund to support municipalities facing transit shortfalls. From that pot, $9 million will be used for the 2022 fiscal year, with the remainder helping to pay for operations this year.
In a statement, finance committee chair Jeff Browaty said the rainy day fund will be used to cover the shortfall. However, he notes it will leave the city’s reserves greatly depleted.
“Winnipeg residents can look forward to learning what the City’s plan is moving forward with the release of the 2023 Budget Update this week,” he said.
Winnipeg's full financial update can be read on the city’s website.
Meantime, the city will release its 2023 budget update on Feb. 8.
CTV News Winnipeg will have full coverage.
CTVNews.ca Top Stories
Risk of a hard landing for Canadian economy is up, former Bank of Canada governor says
Former Bank of Canada governor Stephen Poloz says Canada’s economy is at a greater risk of a 'hard landing' — a rapid economic slowdown following a period of growth and approaching a recession.

'Horrible, horrible deals': Trump criticizes Biden's visit to Canada
Former U.S. president Donald Trump shared his disdain for Joe Biden's visit to Canada, saying Prime Minister Justin Trudeau treats the U.S. ‘horribly’ on trade issues.
Putin says Russia will station tactical nukes in Belarus
Russian President Vladimir Putin announced plans on Saturday to station tactical nuclear weapons in neighboring Belarus, a warning to the West as it steps up military support for Ukraine.
'There's nothing left': Deep South tornadoes kill 26
Rescuers raced Saturday to search for survivors and help hundreds of people left homeless after a powerful tornado cut a devastating path through Mississippi, killing at least 25 people, injuring dozens, and flattening entire blocks as it carved a path of destruction for more than an hour. One person was killed in Alabama.
Officials: 2 dead, 5 missing in chocolate factory explosion
An explosion at a chocolate factory in Pennsylvania on Friday killed two people and left five people missing, authorities said. One person was pulled from the rubble overnight.
Trump, facing potential indictment, holds defiant Waco rally
Facing a potential indictment, Donald Trump took a defiant stance at a rally Saturday in Waco, disparaging the prosecutors investigating him and predicting his vindication as he rallied supporters in a city made famous by deadly resistance against law enforcement.
Canadians view own country favourably but many unsure about Canada's system of government: survey
A recent study by the Angus Reid Institute found Canadians view their country more positively than Americans do, but only a slight majority of people in Canada believe their system of government is good.
Declining suicide rates in Europe may be linked to increased preventative initiatives: report
Within the last decade the total suicide rate among European nations have decreased, according to a new report that says increased suicide prevention initiatives may have helped bring down this death rate.
Russia 'largely stalled' in Bakhmut, shifting focus, U.K. says
The top commander of Ukraine's military said Saturday that his forces were pushing back against Russian troops in the long and grinding battle for the town of Bakhmut, and British military intelligence says Russia appears to be moving to a defensive strategy in eastern Ukraine.