City hall points finger at province for projected $10-M transit shortfall
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Hey there, time traveller!
This article was published 11/09/2017 (3110 days ago), so information in it may no longer be current.
City hall is chipping away at its projected year-end deficit but the after-shocks from the provincial budget is taking a toll.
Civic officials released a statement Monday stating that Winnipeg Transit is going to be $10.7 million over budget for the year, mostly because of the unexpected shortfall in provincial funding as a result of the spring budget.
When the province announced in the spring it was ending its cost sharing agreement for transit’s annual operating cost, city finance officials estimated it would amount to a loss of $5 million to Winnipeg Transit. But new figures put the provincial shortfall at $8 million.
On a more upbeat note, city hall says its projected year-end deficit has been reduced from $13.6 million to $8.2 million and it could be almost eliminated entirely with approval by council of several other cost-saving moves.
The financial results will be discussed in detail at council’s finance committee meeting on Friday.
aldo.santin@freepress.mb.ca