Ontario budget deficit projected to jump to $38.5 billion in 2020-2021 The report states an estimated $14.3 million in savings were made during the pandemic by halting spending, laying off employees, pausing non-critical hiring and cutting services and programs.In other words, the city is looking at a $10-million shortfall without emergency funding from the provincial and federal governments.Ontario municipalities should be receiving $4 billion in aid for operational costs and public transit.
Guelph’s slice of the pie has not been determined, but staff expect that to be disclosed in the coming weeks.The report noted that the city’s reserves can manage the $10-million deficit, but that could be a different story if there is a second wave.