Some optimism from city leaders despite a nearly $8-million deficit for this year.
Councillor Mark Bentz called this the best bad news they’ve ever gotten.
“We’re looking now at a $7-million [sic] projected loss due to COVID by the end of the year, provided things don’t change drastically, rather than $10- to $15-million as maybe some of us were thinking back in May,” Bentz pointed out.
The city has not announced how its budget will be affected by opening up more services and facilities. However, Mayor Bill Mauro noted they hope to shrink the deficit some more after $4-billion in provincial and federal funding was unveiled. Half of that is specifically for transit costs.
“I think there’s an opportunity for the city of Thunder Bay to receive some pretty good financial assistance when it comes to our operating losses on the Transit Authority,” Mauro said.
However, several City Councillors believe we will be dealing with the costs of the pandemic for some time. City Treasurer Linda Evans confirmed that, saying staff are already looking at how this will spill into next year’s budget.
“The whole gamut will be reviewed in relation to 2021, given that we know this will be continuing on throughout that year and potentially into 2022,” Evans told Council.
