City finances improve slightly despite continued revenue slide for Transit - News Summed Up

City finances improve slightly despite continued revenue slide for Transit


The shortfall in transit revenue is being made up by a transfer from the city's fiscal stabilization fund. The city is hurting from a combination of higher expenses and reduced revenue from a number of departments. Those included temporary lay-offs, a freeze of senior management salaries, a voluntary furlough program and temporary lay-offs at Winnipeg Transit. The city is also awaiting a further injection of cash from Safe Restart earmarked for the loss in Transit revenues. It's expected the assistance will put the city in a better position to manage the effects of the pandemic in 2021.


Source: CBC News November 06, 2020 21:22 UTC



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