Metropolis of Saskatoon releases preliminary finances for subsequent 2 years – Saskatoon

The city of Saskatoon presented its preliminary budget for the next two years on Wednesday – and the new property tax rates.

CFO Clae Hack said the government was trying to strike a balance between offering services and dealing with the impact of COVID-19.

“The pandemic has highlighted the challenges facing the city’s operating revenues,” Hack said in a statement.

“As the financial impact of COVID-19 continues to create a challenging business climate, the administration has tabled a preliminary budget that provides adequate funding for quality public services, levels of service and programs that add value to citizens.”

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Based on the city’s procedure, there was a projected revenue gap of $ 30.1 million in the 2022/2023 period. If property taxes had closed the gap, it would have been 5.96 percent and 5.42 percent in 2022 and 2023, respectively.

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According to the city, the expected fiscal impact of COVID-19 is $ 13.85 million in 2022 and $ 10.02 million in 2023.

Hack said fewer people used city services and the city paid more for cleaning, but those effects are slowly recovering in their favor.

“Whatever our new reality, we expect that traffic and leisure center revenues will continue to recover over the next few years, which will ease the pressure on funding needs,” said Hack.

At the council meeting on October 25, it was decided that $ 23.87 million from the Investing in Canada Infrastructure program will be allocated in fiscal years 2022 and 2023 to offset financial risk from COVID-19.

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The administration said adjustments have been made, including the removal of the Bus Rapid Transit (BRT) project, leading to proposed property tax increases of 3.51 percent and 3.14 percent in 2022 and 2023, respectively.

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For the owner of a single family home with an average appraisal of $ 344,000, that would translate into a property tax increase of $ 67.29 in 2022 and $ 62.33 in 2023.

City officials said the proposed property tax increases would raise an additional $ 18.1 million.

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The budget envisages total spending of $ 566 million in 2022 and $ 581.3 million in 2023.

“The council has instructed the administration to prioritize several areas over the next four years,” Hack said in a press release.

“At the time of the budget review, some of the Council’s priorities can be achieved without financial implications, but some initiatives require financial investment, such as

“The government’s proposed property tax rates for 2022 and 2023 will maintain the level of service citizens expect for their tax dollars and ensure the city’s long-term financial stability. The city council will make the final investment decisions for the next two years. “

The city councils and the mayor are expected to finalize the city’s second multiannual budget on November 29, November 30 and December 1.

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