Halifax Regional Municipality accountants are projecting a $1-million operating deficit by the end of the fiscal year.
A third-quarter financial report also projects business units running a deficit of $2.7 million. This is partially offset by a surplus of $1.7 million in fiscal services, mostly due to correcting a tax mistake.
The most significant budget hit comes from the Winter Works Program. Staff project a $5-million increase in cost based on the number of previous storms and others expected by the end of the fiscal year.
A slight decrease in Metro Transit ridership following fares being hiked is expected to result in a $1.4-million drop in transit revenue. Revenue from building permits is down $1 million due to decreased construction activity.
On the positive side, HRM saved $1.7 million on diesel and gas prices being lower than expected.
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City accountants project million-dollar deficit
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