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City of Winnipeg approves plan to deal with $40M deficit (www.cbc.ca)

submitted 4 months ago by ValueSubtracted@startrek.website to c/winnipeg@lemmy.ca

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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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[–] ValueSubtracted@startrek.website 1 points 3 months ago

It probably wouldn't be newsworthy at all, but my understanding is that municipal governments are required by law to balance their budgets?

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