The City of Saskatoon is staring down the barrel of a $6.8 million deficit.
A mid-year forecast to be considered by the Standing Policy Committee on Finance on Monday says the City is projecting a 1.17 per cent unfavourable variance from the budget.
Kari Smith, Director of Finance, says, “This is due in large part to higher than anticipated gas and diesel prices, which had a $3.5 million impact on the budget, and to high snow accumulations in the first half of 2022, which resulted in a projected $3 million unfavourable variance.”
The projection also includes over expenditures in Information Technology, and various other revenue failing to reach budget, such as those for Fines and Penalties and Leisure Centres