The City of Moncton has been tracking the financial impacts related to COVID-19 since the pandemic began in March.

Under a federal-provincial agreement to access funding to cover the burden, City manager Marc Landry outlined a formula which determined a roughly $2.9 million impact.

Landry says the formula involved adding the costs and revenue losses while subtracting any operational savings.

Staff were tallying invoices right up until the most recent one was received last Friday.

Losses were related to transit fares, parking fees and admission charges at city venues while expenses included the cost of PPE (Personal Protective Equipment), Plexiglas installations and cleaning supplies.

City Council unanimously approved the city’s submission on Monday to access funding under the so-called Safe Restart Agreement.