The City of Winnipeg’s deficit continues to shrink and is now expected to be at $6.9 million for the year, based on the latest financial status report and forecast.
The city said it expects that number to be further reduced once the final report is released at the end of the year, thanks to financial improvements and cost control.
“Maintaining sound fiscal management will be necessary to end the year in a balanced position,” said Coun. Scott Gillingham (St. James), chair of the Standing Policy Committee on Finance.
“Departments will be expected to make every effort to control expenses and remain within budget over the remaining months in order to eliminate the forecasted deficit.”
The city said a major factor in the deficit figure was money spent in February to tackle an above-average snowfall. The public works department is more than $11 million over budget.