Winnipeg projecting operating shortfall by end of 2024 [Video]

The City of Winnipeg is projecting an operating shortfall in 2024, and the plan to cover it off would completely drain the city’s rainy day fund.

“I don’t think there’s been a situation quite as dire as this. COVID is certainly part of it,” said Coun. Jeff Browaty.

A third-quarter report forecasts a deficit for the end of 2024 at $23.4 million.

That’s a $4.2 million increase from the last quarter.

To help mop up the red ink, $14.3 million will be used from the rainy day fund, still leaving a shortfall of $9.1 million.

If that can’t be covered by years end, the city will have to carry it over to 2025, meaning next year’s budget would start in the hole.

“I’ve not seen this in the ten years I’ve been here,” said Mayor Scott Gillingham.

The city is facing cost pressure with snow, fire, and paramedic overtime, as well as a growing population with growing demands.

Gillingham …