City of Winnipeg approves plan to deal with $40M deficit
City of Winnipeg approves plan to deal with $40M deficit
www.cbc.ca /news/canada/manitoba/winnpeg-deficit-plan-approved-1.7256085
The city plans to forgo transferring more than $15 million from its general revenue into the reserve fund as a way to cut down the deficit. It will also use debt deferral, interest savings and expenditure management to further reduce the shortfall.
The plan does not call for service reductions or staff cuts.
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$40M is literally nothing. Per capita, this is something like $50/person. Still, nice to see how they're handling it.
It probably wouldn't be newsworthy at all, but my understanding is that municipal governments are required by law to balance their budgets?