City Has No Money Update

According to an article published in yesterday's Globe and Mail, at the same time that the much-reported TTC cuts were being announced,

"...city manager Shirley Hoy asked all divisions and agencies, including the police, to find a total of $100-million in savings this year."

I don't understand why this was not reported on until now since this will likely lead to many new announcements of budget cuts in almost every area funded by the city.
And apparently it's already started; the library budget was reduced by $1.2 million yesterday leading to these changes. The police, however, have decided to join the TTC in deferring their cuts until October.