City of Vancouver releases its 2020 Statement of Financial Information

New financial data shows operating revenues for the City of Vancouver dropped by 90 million dollars, in large part due to the COVID-19 pandemic.

Mayor Kennedy Stewart says the city was able to save some money through more than 1,800 layoffs and the deferral of expensive capital projects as well as city council taking a 10 per cent pay cut.

Stewart says the city is in much better shape than this time last year.

A report on the city's budget says it expects the pandemic to continue to negatively affect non-tax revenues in to 2021.

City of Vancouver on Twitter:

Today the City released its 2020 Statement of Financial Information. Find out more: http://ow.ly/kgAr50E7tLA