City reports modest deficit forecast improvement
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Hey there, time traveller!
This article was published 04/12/2025 (224 days ago), so information in it may no longer be current.
The City of Winnipeg says it’s on track to achieve saving targets identified in the 2025 budget, as finance managers project a $17.4-million deficit before the end of the year.
The city made the announcement in a news release Thursday, citing a financial status and forecast report that is current as of Sept. 30.
The deficit represents a modest improvement of roughly $300,000 in savings over the financial forecast released in June.
MIKE DEAL / FREE PRESS
Coun. Jeff Browaty, chair of the city’s finance committee
“Fiscal discipline totalling $51.8 million helped improve the projected year-end tax-supported operating budget deficit for the second consecutive quarter,” the release said.
The city’s financial stabilization reserve is expected to the cover the remaining deficit, leaving an estimated reserve balance of $18 million in 2026, it said.
Winnipeg managed to meet its savings targets despite having to pay a $7-million legal settlement approved in October, and a $3.8-million shortfall of anticipated revenue from the delayed 911 levy on cellphone users.
“I am pleased that we are able to report a slight decrease in the forecast deficit, despite having two notable impacts to our bottom line,” Coun. Jeff Browaty, chair of the city’s finance committee, said in a statement.
“The impressive efforts of our staff in meeting all savings targets have contributed to this result and are helping us lay a foundation to improve the city’s overall financial situation.”
The city”s financial pressure was offset by a $6.7-million surplus in corporate finance, owing to higher interest earned on short-term investments. It also benefited from a $3.6-million surplus attributed to lower-than-budgeted snow-clearing costs and $800,000 in salary savings from the assessment and taxation department.
Other departments continue to have higher costs or lower-than-expected revenue, including the Winnipeg Fire Paramedic Service and the property development and project management departments.
The forecast report is to be presented to city council’s finance committee on Dec. 10.
fpcity@freepress.mb.ca
