City of Saskatoon revises budget shortfall numbers ahead of Tuesday meeting
Global News
An updated assessment, which will be discussed at next week's meeting, now has Saskatoon's budgetary gap sitting at $50.9 million next year and $21.7 million the following year.
The next special budget meeting for the City of Saskatoon takes place on Tuesday, but city administration is adjusting the starting line and tightening the gap a bit.
Previous reports said Saskatoon is facing a $52.4-million funding shortfall next year and a $23.2-million shortfall the year after, equating to an 18.56 per cent property tax increase in 2024 and a 6.95 per cent property tax increase the following year.
An updated assessment, which will be discussed at next week’s meeting, now has the budgetary gap sitting at $50.9 million next year and $21.7 million the following year, with those tax increases estimated at 17.33 per cent and 6.25 per cent.
The report, written by director of finance Kari Smith, said the finalization of the 2022-23 fiscal year-end financial results gave the city a better estimate of the numbers.
Several other reports are on the table for the upcoming meeting, the next of which delves into 11 areas that city administration suggests cutting from to bridge the gap.
The 2024-25 Budget Inflationary and Phase-in Decisions report, written by chief financial officer Clae Hack, offered up options to defer funding from Saskatoon Light and Power, roadway preservation, Saskatoon fire apparatus, civic building comprehensive maintenance, fuel estimates, the Saskatoon Fire Station phase-in, transit future service phase-in, East leisure operating phase-in, snow and ice phase-in, transit bus growth phase-in and negative contingency.
The report said those items account for $27 million, or 51.5 per cent of the pressure the city faces in 2024.
It also gives three options: a base deferral and planned future phase-in plan, a more significant deferral and future phase-in plan, or allowing council to set specific deferral numbers for each item.
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