City’s Finances – COVID-19
The City of Winnipeg is experiencing financial hardship due to COVID-19. The economists and financial teams have developed three scenarios with many ‘levers’ they can act on to keep the City afloat. The City receives the bulk of revenues from property and businesses taxes. You may recall the City is allowing payment deferral of these two taxes.
Early June we will have a better understanding of how many businesses are paying their taxes, or deferring. Early July we will know more about payment and deferral of property taxes. Many other costs have been incurred and have resulted in the City cutting transit service, temporarily laying off staff, freezing purchases, spending, etc. For complete details on the three financial scenarios being considered, and a comprehensive financial overview, SEE: City’s Financial Challenges