City report indicates Winnipeg overspent in 2022
Posted February 7, 2023 8:37 pm.
Winnipeg’s year-end financial report has disclosed an $83 million shortfall in the city’s tax-supported operating budget.
The report, which will be discussed on Feb. 13, indicates the City’s shortfall throughout 2022 was due to COVID-19 and overspending on snow and ice removal.
The City had overspent a total of $52.5 million on snow and ice removal alone.
The report also noted $41.3 million in expenses was anticipated for COVID-19-related impacts, but that mark was passed by $12.4 million.
Winnipeg also reportedly overspent on transit. However, the report noted aid from the provincial and federal governments lowered the total cost for the city.
“The City faced serious fiscal challenges in 2022 between the continued impacts from COVID-19 and unprecedented over-expenditures in snow and ice operations,” said Councillor Jeff Browaty, Chairperson of the Standing Policy Committee on Finance and Economic Development.
“The Financial Stabilization Reserve Fund will be used to resolve the City’s shortfall for 2022, but it leaves our reserves greatly depleted to end the year. Winnipeg residents can look forward to learning what the City’s plan is moving forward with the release of the 2023 Budget Update this week.”
The balance for the reserve fund will be $5.3 million for 2022, which is $66.4 million lower than the Council-mandated minimum balance.
The City of Winnipeg will be providing a full breakdown of the 2023 budget on Wednesday.
