Chief financial officer warns short\u002Dterm tactics for avoiding tax hikes, service cuts are \u0022not sustainable.\u0022
City CFO Clae Hack presented a mid-year financial update on Monday that indicated the city faces a $6.5 million deficit for 2022. Cities can’t run deficits under provincial law, so the money will have to be found at the end of the fiscal year.
He noted the 2022 city budget contained $7 million in risk — essentially a savings target that city planners were directed to meet, and suggested this left precious little room for unforeseen costs.Article content Hack also noted savings from efforts to trim travel and training expenses and defer hiring. However, he said all these gains were wiped out by unforeseen expenses.Article content
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