$654K budget surplus in 2016 for City of Saskatoon

City of Saskatoon officials said the budget is balanced and there was a surplus in 2016.

In a report heading to the standing policy committee on finance on March 6, the city is reporting a surplus of $654,000.

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Lower than expected oil and fuel prices was the primary driver for the surplus and fewer snow events also helped the bottom line.

The city also received a rebate from the Workers Compensation Board.

All civic utilities and boards posted surpluses, but the city collected less revenue from waste handling, recreation centres and fines.

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It is being recommended that the majority of the surplus be moved to the snow and ice stabilization reserve for future years when those services exceed the budget.