City of Saskatoon projects $14.6M deficit for 2020 because of 'significant challenges' from COVID-19
SASKATOON -- The City of Saskatoon is projecting a $14.6 million deficit by the end of 2020.
The city says a previously approved reallocation of $15 million from the Paved Roadways Preservation capital project will be used to offset the deficit.
The city will also be receiving $19 million in unconditional funds from the federal government to help address the fiscal challenges of the COVID-19 pandemic.
A 2021 Business Plan and Budget Review meeting will be held in early December, where updates on how these funds will be used will be brought forward.