Saskatoon's potential budget shortfall is smaller than predicted. Just a little.
CTV
Saskatoon’s chief financial officer released updated projections in advance of the next special budget meeting, and it looks like the funding gap will be smaller than anticipated — by a hair.
Saskatoon’s chief financial officer released updated projections in advance of the next special budget meeting, and it looks like the funding gap will be smaller than anticipated — by a hair.
“We have a new starting point for the fully transparent view of the city’s budgeting process,” said Hack. “As part of this process, the administration is tasked to estimate the funding the city would need to keep services at the same level as they are now for the next two years.”
Clae Hack said with increased revenue-sharing expected from the province the predicted funding gap for 2024, if councillors make no cuts, has dropped from $52.4 million to $50.9 million.
Councillors meet on Tuesday to plan the next multi-year budget and discuss a group of reports from administration outlining potential cuts and savings.
Without intervention, Saskatoon residents would face a 17.33 per cent tax increase next year.
“I must stress again, these early figures in no way represent any kind of finalized or even proposed property tax increases for residents and our business community,” Hack said.
A news release from the city says “significant and challenging budget adjustments” are required to keep the property tax increase in check.
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