City releases audited consolidated financial statements for the year ending December 31, 2023

Released: May 15, 2024 at 9:50 a.m.
Audited results show more fiscal stability following years of pandemic-related challenges

Winnipeg, MB – The City of Winnipeg has released its audited consolidated financial statements for 2023, as audited by the City’s external auditor KPMG. The report will be presented at Executive Policy Committee on May 22, 2024.

The audited consolidated financial statements report an operating surplus of $12.3 million before capital-related revenues for 2023. This is a major improvement over 2022, as the City ended the previous year with a deficit of $144 million before capital-related revenues.

“The City’s finances definitely saw more stability in 2023 when compared to recent years,” said Councillor Jeff Browaty, Chairperson of the Standing Policy Committee on Finance and Economic Development. “Following a very challenging period due to COVID-19, the City faced fewer financial obstacles in 2023 and responsibly managed department budgets across the organization. A major takeaway from these year-end results is that we are now in a position to start replenishing the Financial Stabilization Reserve Fund over 2024 to better support the City’s operations in future years.”

The City’s audited consolidated financial statements for the year ending December 31, 2023 is publicly available through the Decision Making Information System (DMIS).

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