WINNIPEG -- A new report is showing the financial impact of the COVID-19 pandemic on the City of Winnipeg, including a projected $2.5-million deficit in the operating budget as of Aug. 31.
The report also projects a year-end shortfall of $30.3 million, which includes an increased shortfall of $32.4 million for Winnipeg Transit.
According to a news release from the city, the Covid-19 Crisis Cash Flow Management Plan reduced its projected year-end shortfall from $67.4 million to $30.3 million.
It noted that the federal government announced the Safe Restart funding program, which provides money to the country’s cities and municipalities. The city said discussions are taking place with the federal and provincial governments on potential funding through this program.
“The City continues to feel the financial pressures of COVID-19,” said Coun. Scott Gillingham, chair of the standing policy committee on finance, in the news release.
“Though implementing the COVID-19 Crisis Cash Flow Management Plan is helping us weather the fiscal storm in 2020, I remain concerned about the ongoing impacts of the pandemic on the city’s budget through 2021.”
The Financial Status and Forecast Report will be presented to Winnipeg’s finance committee on Oct. 14
