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The city has released its audited (KPMG) consolidated financial statements for 2020.
In a statement, they said results confirm the city was able to navigate early monetary challenges of the COVID-19 pandemic with assistance from federal Safe Restart funds.
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City s budget shortfall in better shape thanks to fed support, own crisis cash flow plan Back to video
The statements confirm the city was left with a shortfall before capital-related revenues of $52 million, out of an annual operating budget of around $1.7 billion.
The city said the shortfall would’ve been much larger if not for the federal support and steps taken by the city through its COVID-19 Crisis Cash Flow Management Plan. ....

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