City Hall, 510 Main Street (CITY OF WINNIPEG / TWITTER)
The City of Winnipeg is projecting a $20.5 million deficit in its operating budget for 2024, according to the latest financial status and forecast report.
The city was originally projecting a $23.4-million deficit following its third-quarter financial results.
While the projected shortfall marks a slight improvement from the third-quarter forecast, it still underscores the city’s ongoing financial challenges. To address the deficit, the Financial Stabilization Reserve Fund, which now sits at $9.7 million, has already been tapped to cover a shortfall in taxation revenue. Any remaining deficit will factor into the 2025 budget planning.
“The financial challenges highlighted in this forecast are consistent with prior reports over 2024 and aligns with the plan we presented in Budget 2025,” said Jeff Browaty, chairperson of the Standing Policy Committee on Finance and Economic Development.
The financial status and forecast report will be presented at a meeting on January 17.
