First-quarter financial forecast highlights ongoing pressures

Released: June 8, 2026 at 3:02 p.m.
City continuing to make progress in restoring financial status reserve, meeting savings targets

Winnipeg, MB – The City of Winnipeg’s first-quarter financial status report forecasts a year-end consolidated shortfall of $14 million. Forecasted amounts include the General Revenue Fund, Utilities, and Special Operating Agencies.

A report to be presented at the June 12 meeting of the Standing Policy Committee on Finance and Economic Development outlines cost pressures we are currently facing.

These include:

  • Volatility in global commodity prices, including fuel, due to the ongoing war in Iran
  • Higher-than-budgeted snow and ice control costs due to significant snowfall in early 2026
  • Lower forecasted Transit revenues due to a variety of factors including ongoing challenges with fare evasion and – most significantly – fewer international students and foreign workers taking Transit as a result of changes to federal immigration policy

We continue to take steps to manage these pressures. In May, Council approved recommendations to transfer $18.4 million to the Financial Stabilization Reserve (FSR). These transfers bring the forecasted year-end balance of the FSR to $24.2 million after covering the shortfall.

We are also actively working to reduce fare evasion and are making changes to the network to both improve the Transit experience and increase ridership.

The report also forecasts achieving $39.4 million of our $58.4 million savings target for 2026 through efficiencies and continuous improvement initiatives.

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