Monday, August 24, 2020
Halifax Convention Centre deficit is the new problem for the municipality as they have to pay an additional $40,000 to meet the last year’s shortage. They are yet to figure out the present situation and how to proceed in the present condition.
As a part of its public accounts, the state shared the year-end financial statements for Events East, the Crown Corporation that manages the convention centre, through online platform. The provincial along with the municipal governments shared the expense of the convention centre, and divided its deficits.
The deficit amount for the municipality as per their share based on the evaluation of the for 2019-2020 was budgeted at $2,695,000. The new financial statements specify that the municipality will pay $2,736,484 — that includes a difference of $41,484.
The province will therefore pay $2,592,694, an increase of $12,694 from the budgeted amount of $2,580,000. (Hence, it is seen that the amount between the municipality and the province differed since there was a difference in capital funding approaches, however it ended with a concrete decision on clearing the amount as per the business plan for last year.
Since it was reported by the Halifax Examiner in June, and its deficit share for this year is budgeted higher, at $2,804,000, and this however does not include any impact of COVID-19 conditions. However, amidst growing tension the municipality failed to give any positive response to the source of money that will help in paying the deficit. Earlier this month CBC reported that the government of this province with pay an additional $3 million in 2020-2021 due to COVID-19, and the city’s share would be the same.
Friday, March 31, 2023
Friday, March 31, 2023
Friday, March 31, 2023
