Kitchener cuts its deficit
Posted Apr 26, 2010 05:33:32 PM.
This article is more than 5 years old.
The city of Kitchener has managed to eliminate most of its 4.6 million dollar deficit from the 2009 fiscal year.
City officials say efforts to curb spending and save money left them with a 300 thousand dollar deficit heading into 2010.
That deficit was funded through the city’s tax stabilization reserve fund.
The city lost more than one million dollars in investment income last year because of the recession and severe weather led to overspending on winter maintenance.
During the 2010 budget process, Council reduced its budgets for investment income, supplementary taxes and transfers from tax stabilization reserves.
Add CityNews Kitchener as a trusted source on Google to see more local stories from us.
