Winnipeg, MB – The City of Winnipeg’s Financial Status Report to December 31, 2018 is reporting a surplus in the tax-supported operating budget (General Revenue Fund) of $19.5 million. The City’s financial update will be presented at the meeting of the Standing Policy Committee on Finance on February 7, 2019.
This update marks an increase in the surplus projected in the last Financial Status Report, which projected a surplus of $14.2 million as at November 30, 2018. In accordance with Council policy, any surplus in the General Revenue Fund at year-end will be transferred to the Financial Stabilization Reserve.
“This year-end report is a positive reflection on the City’s fiscal management throughout 2018,” said Councillor Scott Gillingham, Chair of the Standing Policy Committee on Finance. “Following positive trends in each of the preceding financial reports this past year, this report confirms the City is now able to contribute a strong surplus to the Financial Stabilization Reserve.”
Additional savings that were realized through December 2018 include savings in Public Works related to lower than forecasted snow clearing program expenditures during the month, as well as other minor financial improvements throughout the City’s tax-supported departments.
The City’s financial update is publicly available through the Decision Making Information System (DMIS).