Next week, Saskatoon City Council will review the state of the City’s finances and look to make adjustments to address the City’s projected $8.3 million deficit.

The Greater Saskatoon Chamber of Commerce has sent a letter to Council requesting it freeze the 3.53 per cent rate increase planned for 2023.

The Chamber is asking City Council to act on the cost reductions and options proposed by City Administration to help bring the budget back to balance, including deferring reserve contributions to offset a portion of the operating deficit and drawing on the City’s fiscal stabilization reserve if needed.

They also suggest using this budget review to defer the hiring of 30 full-time equivalent positions to address the City’s budget short fall.

The Chamber says business owners have based their plans on the 3.53 per cent property tax rate increase set by City Council last year, along with the increases to utility rates approved as well. The Saskatoon Chamber says it believes another rate increase on top of the tax and utility rate increases passed by Council only 12 months ago would create unnecessary instability.