Here's what Saskatoon's financial chief wants to do with the $10M surplus
As Saskatoon residents face higher property taxes and increased fees, the city is reporting a $9.9 million surplus for 2023.
The surplus is attributed to savings on snow clearing and higher transit revenue, with more people taking the bus.
The surplus comes as Saskatoon residents are feeling new financial pressures including: property taxes spiking 6.04 per cent this year — the highest increase in a decade, a new monthly garbage utility fee, and higher parking rates.
Saskatoon's Chief Financial Officer Clae Hack is recommending the extra money go into reserves — to help the city with any unexpected financial challenges in the future.
"Council always has the option to direct us to investigate different approaches on how they see the surplus being used," Hack told reporters after announcing the surplus.
"This is administration's recommendation based on policy we have in front of us and what's been successful for us for previous generations."
Administration is recommending $5.7 million be added into the reserve for snow and ice management and the remaining $4.2 million surplus go towards the Fiscal Stabilization Reserve.
The surplus is up for discussion at a committee meeting next week.
CTVNews.ca Top Stories
![](https://www.ctvnews.ca/polopoly_fs/1.6977053.1721909931!/httpImage/image.jpg_gen/derivatives/landscape_800/image.jpg)
'Sick to my stomach': People grieve Jasper National Park by sharing favourite photos
As an out-of-control wildfire roared through Alberta’s famed Jasper National Park and its townsite late Wednesday, many are fearing the worst as officials warned of 'significant loss' within the area.
DEVELOPING Jasper wildfire burns buildings, while poor air quality forces some fire crews out
Prime Minister Justin Trudeau announced on social media that Ottawa has approved Alberta's request for federal assistance after a fast-moving wildfire hit Jasper National Park and its townsite late Wednesday.
Canadian women's soccer team staffer given suspended prison sentence over drone incident, prosecutor says
A Canada women's soccer team staffer has been given an eight-month suspended prison sentence after flying a drone to film the closed-door training session of the New Zealand team on Monday, the prosecutor's office said in a statement.
Sale of envoy's NYC condo 'expected to exceed' $9M: government
The current official residence for Canada's representative in New York City is 'being readied for sale,' according to a spokesperson from Global Affairs Canada.
'I'm so broke': Two Toronto women speak out after losing $76,000 in romance scam
Two women from the Toronto area are speaking out after losing thousands of dollars to a romance scam, including a single mother who lost $62,000.
Barrie-Innisfil MPP 'blacked-out' and crashed car into window of child care centre
Staff at a Barrie child care centre say they are frustrated by what they call a local MPP's inadequate response after a car crashed through a window in one of the toddler rooms.
Loblaw, George Weston to settle class action over bread price-fixing for $500 million
Loblaw Cos. Ltd. and its parent company George Weston Ltd. say they have agreed to pay $500-million to settle a class-action lawsuit regarding their involvement in an alleged bread price-fixing scheme.
EXCLUSIVE One address, 76 foreign currency dealers: Inside Canada's money service business 'clusters'
An IJF and CTV News investigation has found dozens of cases across Canada where multiple money services businesses (MSBs) are incorporated at the same address, sometimes without the knowledge or consent of the location's actual occupant. One money laundering expert calls it an 'abuse of the system.'
An unwelcome attendee has joined the Paris Olympic Games: COVID-19
After a handful of Australian water polo players tested positive for COVID-19 this week, questions have emerged around how the spread of the disease will be mitigated at the Summer Olympic Games in Paris.