“The City of Winnipeg’s continued response to the major storm event in October will have a significant impact on the City’s year-end finances,” said Councillor Scott Gillingham, Chair of the Standing Policy Committee on Finance in a statement to media.
“While the City may need to draw on the Financial Stabilization Reserve fund, there will be a continued focus by departments on making financial improvements over the course of the year in an effort to continue to reduce the projected year-end deficit.”
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The $9 million figure for the storm is up from the previous estimate of $7.9 million. About $2 million of the clean up costs will be absorbed in next year’s budget because of ongoing work, said Gillingham.
The city will apply for disaster financial assistance if the Province announces such a measure, he added.
The report will go before the city’s finance committee Tuesday.