A report from Administration to be presented to the Finance Committee Wednesday afternoon indicates that at the end of last year, the City of Saskatoon’s civic operating programs were in a deficit of $10.99 million, while there was a surplus of just over $3 million for Utilities.

The almost $11 million deficit included $1.97 million related to the end of the year snow event, so Council resolved in January that it would be covered through borrowing. Total costs from the snow event are expected to be up to $20 million, which will be expensed this year once everything is complete, and this will also be covered by borrowing.

Administration is recommending the remaining deficit of just over $9 million be funded through a transfer of almost $7 million from the Fiscal Stabilization Reserve and smaller transfers from other Reserves including the Land Operations Reserve and the Special Events Reserve. Under provincial law, municipalities can’t operate with a deficit.

Administration’s recommendations include waiving the transfer to reserve for the following items:

$14,220 to the Internal Audit Program Reserve;
$17,659 to the Animal Service Reserve; and
$173,247 to the Reserve for Unexpended Youth Sports Subsidy Fund

– reducing the transfer from the Roadways Operating program in the amount of $710,740.27 to the Paved Roadways Infrastructure Reserve

-transfer $500,000 from the Special Events Reserve – Profile Saskatoon;
-transfer $924,395.41 from the Land Operations Reserve;
-transfer $6.68 million from the Fiscal Stabilization Reserve