The City of Vancouver says the COVID-19 pandemic has had a "significant impact" on its finances, including a projected $85-million drop in revenue and $13 million in additional costs. The city says the increase would help cover the cost of normal programs and initiatives that have also faced additional operating costs. The draft operating budget for 2021 is $1.6 billion, $17 million less than the original planned budget. The city warns that as the budget is less than previous years, some planned initiatives will need to be deferred. The budget is scheduled to be presented to city council on Dec. 1.

Source: CBC News November 24, 2020 23:26 UTC