Municipalities across the country are reporting major financial losses due to the ongoing coronavirus pandemic. The City of Kawartha Lakes is anticipating approximately $3.2 million in revenue loss directly related to the crisis.
But chief administrative officer Ron Taylor told council in a virtual meeting on Tuesday the municipality had a surplus in its 2019 budget. “I am pleased to advise that in 2019, we realized a surplus of approximately $3 million,” said Taylor. “We are also tracking well in 2020 on the winter control budget to date, so far.
These two items are wildcards but they are helpful as we look at recovery options down the line.” Taylor said a detailed financial report will be brought back to council on June 9 at the committee