City Council’s Governance & Priorities Committee (GPC) will continue its work to reduce the projected funding gap within the 2024/2025 Multi-Year Business Plan and Budget at its next Special Budget Meeting on August 15.
Following budget reductions of $21.6 million in 2024 and $1.6 million in 2025 as directed by GPC at its July 25 Special Budget Meeting, City Administration has been able to further refine estimates and update 2024 and 2025 revenue and expense projections based upon the most current data available. Heading into the August 15 Special Budget Meeting, the revised budgetary gap being presented for discussion is $26.2 million in 2024 and $19.3 million in 2025.
This reduces the current estimated tax increase that would be required if no further mitigation steps were introduced to a new starting point of 8.92 per cent in 2024 and 6.01 per cent in 2025, respectively.
“Work continues in a public and transparent way to address the funding pressures we’re facing ahead of Council’s 2024/2025 budget discussions in November this year,” says Director of Finance Kari Smith.
At its August 15 meeting, Committee will consider business line reports relating to Transportation, Community Support, Saskatoon Fire, Environmental Health, Taxation and General Revenue, Land Development, Arts, Culture and Events Venues, Recreation and Culture, and Urban Planning and Development.
Council has also requested to receive draft budgets from the Saskatoon Police Board of Commissioners and the Saskatoon Library Board earlier than normal so that they may be incorporated into future budget discussions.
Should any member of the public wish to submit a letter or request to appear in person at the August 15 Special Budget Meeting, the deadline to arrange for this is Monday, August 14, at 5:00 pm.
For more information on the 2024/2025 Multi-Year Budget & Business Plan, including answers to frequently-asked questions and reference charts and graphs, visit Saskatoon.ca/budget.