Estimated $9 million budget shortfall for City of PG in 2021

PRINCE GEORGE—The City of Prince George could be facing a budget shortfall of several million dollars in 2021.

Since the start of the pandemic the City of Prince George has been losing around $1 million a month, and according to a report that will be on the agenda on the July 27 Council Meeting, initial estimates could indicate a $9 million budget shortfall next year.

The July 27 meeting will see Council and staff decide how they will best tackle the City’s financial challenges while providing as much service possible to the community. Council will be provided with year-end budget projections and options on how to balance the budget.

Steps have already been taken by Council and staff to try and reduce costs as we continue to traverse a pandemic including, deferring nearly $25 million in capital projects and adjusting funding sources for capital projects to reduce debt.