City Council continues work to reduce 2024/2025 budget funding gap
Additional work by City Council’s Governance and Priorities Committee (GPC) to lessen a projected funding gap in the 2024/2025 Multi-Year Budget has helped shave an additional $1.1 million in 2024.
Through today's and previous decisions, the funding gap has been reduced by a total of $25.8 million in 2024 and $2.3 million in 2025. If left unmitigated, which is unlikely, this would equate to a property tax increase of 8.54% in 2024 and 6.04% in 2025.
“City Council continues to make meaningful progress in reducing the projected funding gap for 2024 and 2025. The financial pressures facing Saskatoon regarding post pandemic recovery and significant inflation are widespread across the country. I am confident that through this transparent process and future meetings we will continue to make progress to reduce the funding gap,” says Chief Financial Officer Clae Hack.
GPC completed discussion on several business line reports at a special GPC meeting today and recommended the following budget options be integrated into the 2024/2025 Preliminary 2024/2025 Multi-Year Business Plan and Budget:
- No inflationary increase for line painting and sign replacement materials
- Reduce the sweeping of soft surface (turf) medians to once every 2 years
- An expansion of the Parking Pay Station Zone to incorporate approximately 130 additional on-street parking spaces within the Warehouse District and Center Industrial areas
- An additional rate increase of 10 per cent for all pet licensing
- An additional rate increase of 3 per cent for the rates and fees for cemetery services
- Reduction to the contribution to the special events reserve in 2024 and 2025
- No increases and maintain the same level of funding for grants and community organization support
- Defer the addition of a Fire Services Asset Management staff position until 2025
- Remove the addition of a permanent Communications Consultant position within Saskatoon Fire Department
- Defer the addition of a dedicated Operations Dispatch Manager position until mid-way through 2024
Due to time constraints, discussion on business line reports relating to Environmental Health, Taxation and General Revenue, Land Development, Arts, Culture and Events Venues, Recreation and Culture, and Urban Planning and Development were deferred to an additional Special Budget Meeting scheduled for August 31.
Council is also awaiting draft budget submissions from the Saskatoon Board of Police Commissioners and the Saskatoon Library Board so that they may be incorporated into future budget discussions.
For more facts and reliable information on the 2024/2025 Multi-Year Business Plan and Budget, please visit saskatoon.ca/budget.