The City is expecting a deficit on its 2016 budget, and that was reflected in a third quarter report to the regular meeting of Yorkton Council Monday.
“During the 2016 budget deliberations, discussions resulted in a request to provide quarterly reporting of the financial state of the City of Yorkton,” explained Shannon Bell, director of finance with the City at Monday’s meeting. “This would also meet the desire to keep Council informed of all the financial changes that happen throughout the year.”
Overall, Bell noted the City of Yorkton manages an annual $45,000,000 operating budget. Of this $45,000,000, $20,000,000 comes from property taxes and the remaining $25,000,000 comes from user fees and fees for goods and services such as water usage, landfill fees and recreation programs.
“As of the date of this report we are forecasting a deficit of approximately $419,000,” said Bell. “This is mainly due to the $769,000 loss the City incurred due to the loss at the Saskatchewan Municipal Board level.
“If it were not for the losses the City would be experiencing a $251,000 surplus when we budgeted for a $139,000 surplus.”
