Typical work may include reading and understanding financial documents, such as budgets. It is important to understand how a proposed budget level, such as a department line item, is greater or lesser than the current year's level. You will also need to understand how financial levels change on a relative basis; in other words, education may account for 2/3 of the city budget last year, and 3/4 of the city budget this year.
This is important both as an absolute number and by percentage. Percentages are very important for news stories. They may be specified in some cases, but you may need to calculate them yourself.
This is especially important for tax matters. You need to be able to accurately calculate how much someone's taxes will go up.
Of course, much of the news is politics, and that means understanding proportions -- simple majority, plurality, 2/3, 3/4. On election night, you may be called to compute how many places have reported their votes, and which candidate is leading by how much.
Therefore, while you may not need a mathematics degree, you will need math skills to be an effective reporter.