Winnipeg, MB – The City of Winnipeg has updated its Financial Management Plan, which is the City’s strategy for guiding financial decision-making, meeting long-term obligations, and improving its economic position and financial stability. The City will present its updated Financial Management Plan at the meeting of the Standing Policy Committee on Finance today, October 11, 2019.
The City has updated the plan to establish renewed goals for the City which together will work to address current unsustainable operating and capital budget deficits. The updated goals in the City’s’ Financial Management Plan are:
- Ensure a sustainable revenue structure
- Support a sustainable and competitive tax environment
- Support economic growth
- Support long-term financial planning
- Build, maintain and enhance infrastructure assets
- Manage expenditures
- Manage debt
- Ensure adequate reserves and liquidity
The plan requires periodic updates to ensure alignment of goals with new financial or economic realities or Council priorities. The first Financial Management Plan was approved by Council in 1995, and was subsequently updated and adopted by Council on April 25, 2001, and again on March 23, 2011.
The City’s Financial Management Plan is publicly available through the Decision Making Information System (DMIS).