City on track for budget surplus: FEDCO
Posted Sep 6, 2016 10:10:04 AM.
This article is more than 5 years old.
OTTAWA – The city is on track for a budget surplus.
According to the City Finance and Economic Development Committee, the projected surplus is $6.6 million, a significant turnaround from last year’s $41.8 million deficit.
Mayor Jim Watson said changes made before the start of the year are behind the projected surplus, including reductions in departmental discretionary expenditures, a staffing freeze, FTE reductions and revenue improvements.
“I am very pleased to see that efficiency measures implemented in the 2016 Budget are proving to be effective and that this mid-year surplus will improve further by the end of the year,” Watson said in a release. “We are always looking for smarter, more prudent and more responsible ways to provide services to residents and respect their tax dollars.”
