Finance Committee Decisions in Brief
May 30, 2016 Meeting
7.1.4 7.1.4 2015 Annual Report – Saskatoon Land
Decision
*The report was received as information.
Background
*Land sales for 2015 totaled $63,425,578. Sales highlights include 159 single family lot sales, 30.17 acres of institutional/multi-family sales and 20.97 acres of industrial sales/leases.
*Since 2011, Saskatoon Land, in conjunction with private-sector developers, has met or exceeded the minimum supply targets for residential and industrial land. Estimates for 2015 yearend indicate the following inventory levels for each land category: 2,002 single-family units, 3,382 multi-family units, and 183 industrial acres.
*Throughout the 2015 calendar year, a variety of accomplishments were realized by Saskatoon Land staff. Notable examples include: completion of the Green Bridge structure in Evergreen, administration of 80 leases totaling almost $2 million in annual revenue, and the successful implementation of new singlefamily lot allocation process for lot draws.
*Since 2007, $123.3 million in net proceeds from the sale of property in Hampton Village, Willowgrove, Rosewood and Evergreen have been made available for City Council to allocate to various civic projects.
7.1.5 First Quarter Results – Corporate Business Plan and Budget – Shaping Our Financial Future
Decision
*The Committee received the report as information.
Background
*The 2016 budget projections to year-end show a 0.27% negative variance upon reviewing quarter one results. The Administration will be taking all reasonable measures to bring in a balanced budget at year-end.
*The key projects and initiatives outlined in the 2016 Corporate Business Plan and Budget are on track and initiatives are progressing well.
7.1.6 Update on Key Strategic Risks
Decision
*The Committee received the report as information.
Background
*Risk Registers have been developed for each high and medium strategic risk and have been reviewed by the Corporate Risk Committee.
*At its meeting on June 22, 2015, when considering the report of the CFO/General Manager, Asset and Financial Management Department, regarding key risks and the risk based management program, City Council resolved that the Corporate Risk Committee report further on key corporate risks, and that there be an overall ongoing review and report back to the Standing Policy Committee on Finance.
7.2.7 Acquisition of Land for Future Fire Station
Decision
*The Committee will be reporting to City Council in support of the recommendations of the Administration.
Background
*The Saskatoon Fire Department continually reviews response times using mapping analysis techniques with the goal of increasing departmental efficiency placing citizen and staff safety at the forefront.
*The Saskatoon Fire Department can relocate the current Station No. 3 (1906 York Avenue) to St. Martin’s United Church’s vacant north lot. This will address aging infrastructure concerns and improve overall response protection in the southeast portion of the city.
*Notable terms of the agreement with St. Martin’s United Church include a sale price of $500,000, plus additional related disturbance and site improvement compensation.