Just as Ottawa city council gets ready to debate a wage freeze for all non-unionized staff, the city's treasurer is confirming the city ended the last fiscal year with a $17.4 million deficit.
In a report issued Wednesday, Marian Simulik says the shortfall reflects the rough economic times.
- Investments were down by almost $8 million.
- Planning fee revenues dropped by more than $3 million.
The report also states the $35 million paid to settle the light rail lawsuit will affect the funding for new capital programs.
The city paid off the lawsuit through a city-wide reserve fund, which is budgeted through property taxes.
