City posts $1.4M surplus: mild winter & low fuel costs contribute

Saskatoon’s growth, weather and the price of fuel have helped the City post a net surplus of $1.436 million.

“There were a number of factors which contributed to the surplus,” says Chief Financial Officer Kerry Tarasoff.  “Lower fuel prices certainly played a role as did our overall community growth and a relatively mild winter.”

The year-end financial results are highlighted in a report today to the Standing Policy Committee on Finance.

“The silver lining to the downturn in oil prices has helped the City spend less,” Tarasoff says. “We also spent less on snow removal and all our boards including the Police Service had surpluses.”

Tarasoff further notes while a mild winter may mean savings in Public Works, it also means the City’s power company sells less electricity leading to a small deficit at Saskatoon Light & Power.

Positive figures were also offset by factors such as lower than expected revenues from traffic fines, landfill and parking, as well as an increase in fire protection spending and a transfer to the utility reserve.

To view the complete report, visit saskatoon.ca under City Hall>Council, Boards & Committees.