Saskatoon projects $13M in surpluses, could the money go to taxpayers?
After lengthy budget talks last week, where city councillors spent nearly 30 hours searching for savings, there's a new twist.
The City of Saskatoon is anticipating a $3 million operating surplus and a $10.9 utility surplus at the end of this year.
The financial boost is attributed to stronger revenues in wastewater and water services, more people riding the bus — increasing transit revenue projections — and savings on snow removal this season.
The city also found savings in deferred hiring, training costs and the closure of the Harry Bailey Aquatic Centre.
Coun. Darren Hill wants taxpayers to benefit from the extra money.
Hill suggests the $10.9 million surplus associated with Saskatoon Light and Power be re-invested into the infrastructure, and the surplus from the other utilities should go to residents.
"The utilities surplus from water, wastewater and garbage should be a rebate back to the residents. We should not be profiting off of those utilities. That should be cost recovery," Hill told CTV News.
"We're taxing them to death and we have so many utility charges for them."
Currently, any extra profit from utilities is put in a reserve fund. That same fund is tapped in years where there's a utilities-related financial loss.
The surpluses come after tthe city grappled with a funding shortfall for 2024 and 2025. After four days of budget deliberations, councillors agreed to raise property taxes 6.04 per cent next year — the highest hike in 10 years.
During an interview, CTV News asked Mayor Charlie Clark specifically if he would be in favour of using the $3 million operating surplus to reduce the property tax burden.
"That would not be a responsible way to deal with a one-time surplus," Clark responded.
"Of course it's nice to get relief, but the more responsible thing to do would be to make sure we've got a little bit more money in our stabilization reserve," Clark said.
"Make sure that we're not taking one-time funds to try and address property taxes. Maybe there's some solution there. But I certainly don't think the right thing to do is to take it all there. Politically, it might be the right idea, but in terms of good governance and trying to make sure that we're running the city well, it’s just going to create a risk for the next years of council."
The city's governance and priorities committee is set to discuss the surplus in a meeting on Tuesday.
CTVNews.ca Top Stories
BREAKING Boeing to cut 17,000 jobs, or 10% of its global workforce
U.S. planemaker Boeing will cut 17,000 jobs, or 10 per cent of its global workforce, delay first delivery of its 777X jet by a year and announced substantial new losses in its defence business as a month-long strike batters company finances, CEO Kelly Ortberg said on Friday.
Police identify Toronto victim of alleged serial killer
Toronto police have identified the woman who was allegedly killed by a suspected serial killer earlier this month.
'We've been here before': Trudeau says Canada will prioritize interests in potential U.S. trade renegotiation
Prime Minister Justin Trudeau says that if the next U.S. president re-opens trade negotiations for the United States-Mexico-Canada Agreement (USMCA), Canada will prioritize its own interests.
No jail time for man who fatally stabbed senior in Vancouver
A man who stabbed a senior to death in Vancouver's Biltmore Hotel building in 2020 has been given a conditional sentence for the killing, meaning he will not serve any jail time if he remains on good behaviour in the community.
B.C. billionaire posts third large sign criticizing NDP ahead of the election
British Columbia billionaire Chip Wilson has put up yet another billboard message to voters, his third post outside his multimillion-dollar mansion in NDP Leader David Eby's own riding.
Missing father, kids spotted in New Zealand wilderness 3 years after disappearance: police
A New Zealand man who disappeared with his three children in 2021 was spotted on a farm along the country's northwest coast, police say.
Deadly Old Montreal fire: police arrest two suspects aged 18 and 20
Montreal police have arrested two young adults in connection with the deadly fire in Old Montreal last week that killed a mother and her young daughter.
Former public safety minister didn't know about delayed spy warrant, he tells inquiry
Former public safety minister Bill Blair told a federal inquiry Friday he had no knowledge about delays in approving a spy service warrant in 2021 that may have included references to people in his own government.
'It went horribly wrong': DNA analysis sheds light on lost Arctic expedition's grisly end
Archaeologists have identified the cannibalized remains of a senior officer who perished during an ill-fated 19th century Arctic expedition, offering insight into its lost crew's tragic and grisly final days.