The City of Welland is feeling the financial impact of COVID-19.
It’s projecting a $4.4 million operating loss and a deficit of $549,300 between April 1st and June 30th.
City Council looked over the report during last night’s virtual meeting.
It was prepared by Steve Zorbas, who is the city’s Chief Financial Officer/City Treasurer and General Manager of Corporate Services.
The report also highlighted $3.9 million in cost containment initiatives, which includes the temporary layoffs of 109 full-time and part-time staff members.
Welland Mayor Frank Campion says tough decisions must be made in order to reduce the impact of COVID-19.
“Municipalities are not currently allowed to run deficits so any shortfall would have to be made up by increasing the 2021 property taxes proportionately.”
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