Saskatchewan municipalities to benefit from record revenue sharing
SASKATOON – Municipalities across the province will receive $8.3 million more in revenue sharing next year, according to the Saskatchewan government.
The province said that the additional funds came from an increase in revenue from Saskatchewan’s Provincial Sales Tax.
“Saskatchewan’s economy continues to be strong, and that activity is translating into more revenue for municipalities,” said Jim Reiter, Saskatchewan’s minister of government relations.
The news comes after a year that saw revenue sharing dollars decrease; Saskatoon received roughly $45.9 million for the current fiscal year, which was down roughly $1.3 million.
The 2015-16 totals represent a 108.4 per cent increase since the revenue sharing program’s inception in 2007, according to the province.
The funding is based on one percentage point of PST.