SASKATOON — The City Council and Priorities Committee continue to discuss how to reduce further the projected funding gap in the 2024-2025 Multi-Year Business Plan and Budget, a move that would avoid significant property tax increases in the next two years.
The GPC will meet for the fourth time on Thursday, Aug. 31, hoping to put more dent in an expected $25.8 million funding gap next year and $2.3 million in 2025. They previously met on June 14, July 25 and Aug. 15.
However, if unresolved, which the administration is saying is highly unlikely, the currently projected funding gaps would result in property tax increases of 8.54 per cent in 2024 and 6.04 per cent the following year.
City of Saskatoon Finance Director Kari Smith said there is still enough time to finalize the 2024-2025 budget since the decision will not be approved until the November deliberations by the City Council.
“[The] City Council and administration will continue to probe all business lines and review everything on the table in a public and transparent way to address further the funding pressures the City faces over the next two years,” said Smith.
The administration’s business line reports relating to Environmental Health, Taxation and General Revenue, Land Development, Arts, Culture and Events Venues, Recreation and Culture, and Urban Planning and Development — previously deferred due to time constraints — are set for discussion on Thursday, along with Corporate Governance and Finance, Corporate Asset Management, and Utilities.
The City Council also awaits draft budget submissions from the Saskatoon Board of Police Commissioners and the Saskatoon Library Board so those may be incorporated into future budget discussions.
The , Special Budget Meeting is available for review. As with all, this meeting will be . For more information on the 2024-2025 Multi-Year Budget & Business Plan, including answers to frequently asked questions and factual reference charts and graphs, check the or visit .
