Vancouver’s finances remain in serious condition: mayor

Vancouver’s financial situation remains serious even after pay cuts for city staff and members of council, the mayor says.

The city has managed to stave off another round of layoffs through the pay cuts and the reallocation of some contingency funds, Kennedy Stewart told a news conference on Wednesday.

“The greatest risk we face is the potential of property tax defaults,” he said.

Non-union staff took a 10 per cent pay cut along with members of council including the mayor.

The city has also seen a big drop in revenue from parking fees, he said, adding that some people were taking advantage of free parking so the city will gradually bring enforcement back.

Meanwhile, the federal government has provided $1.6 million to help the city expand programs for people who are homeless, he said. The funding will help pay for the installation of handwashing stations and toilets.

This report from the Canadian Press was first published April 29, 2020