Financial figures from the end of June suggest the city is heading toward an $11.2-million deficit by the end of 2013 – but the mid-year projections rarely, if ever, translate into real red ink.
The June 30 financial status report from Winnipeg’s chief financial officer projects an $11.2-million deficit on a total operating budget of $923 million, thanks in part to high snow-clearing costs early in the year. The June 30 report almost always points to a deficit. It is customary for the city to wind up with a modest surplus at the end of the year.
Nonetheless, the city took the unusual step of issuing a press release about the routine report, highlighting the need to cut costs from the police service.