Winnipeg recorded a surplus $3.4 million higher than projected in 2012.

According to a city finance report, released today, Winnipeg recorded a $15.9-million surplus last year -- higher than the estimated $12.5 million, which was put toward Winnipeg's 2013 operating budget.

A city statement said the remaining $3.4-million surplus will go toward any budget challenges this year, such as higher-than-normal snowfall or balancing estimated budget shortfalls for 2014.

Council's finance committee will review the report at a meeting next week.