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$654K budget surplus in 2016 for City of Saskatoon

City of Saskatoon balances budget, posts $654,000 surplus in 2016. File / Global News

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.

READ MORE: Commission approves $3.32M increase to 2017 Saskatoon police budget

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.

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