An above-average dumping of snow is to blame for the city’s first quarter financial shortfall, according to a report that will be presented Friday.
The first quarter financial status report and forecast is projecting a deficit in the General Revenue Fund – the tax-supported operating budget – of $9.8 million.
The city said Monday that above-average snowfall in February of this year led to a $10 million over-expenditure related to snow removal and ice control.
“As in recent years, it is expected that the City’s first quarter projected deficit will be greatly reduced or eliminated by year end,” said Coun. Scott Gillingham (St. James), chair of the city’s Standing Policy Committee on Finance.
“It is encouraging to see that City departments have remained within or near budget on annual expenditures. It is expected that departments make every effort to remain on track in order to balance throughout the remainder of this fiscal year.”
WATCH: Winnipeg hit with spring snowfall