Bumper crop boosts Saskatchewan’s bottom line with higher surplus
REGINA – The Saskatchewan government’s last fiscal year wrapped up better than expected because of a bumper crop and higher returns on investments.
Public accounts show the province finished its fiscal year in March with a surplus of $589 million – $439 million higher than forecast in the 2013-2014 budget.
The bottom line initially took a hit because of lower than expected revenue from potash.
But overall the province took in more money from insurance sector investment income and taxes, including a four-cent increase on tobacco that brought in $23 million.
Expenses were also down because agricultural claims were lower than budgeted due to a record crop last year.
Finance Minister Ken Krawetz says it’s good news, but the circumstances were unusual and windfalls can’t be counted on every year.
© The Canadian Press, 2014