The Hamilton Farmers’ Market 2016 financial statements were made public this morning just prior to a scheduled meeting of City Council to discuss the state of the Market.
Not enough Councillors showed up to the meeting to make quorum, and the meeting was adjourned. It will be rescheduled for a future date.
The financial statements show the Farmers’ Market ran a $107,510 deficit in 2016. Lower than expected revenues account for ~$80,000 of this deficit. Heavy than expected employee and contractual costs add up for the reminder of the deficit. The Market received $151,419 from the municipal levy in the 2016 budget.