Saskatoon seeking outside expertise on avoiding future operating budget deficits

The City of Saskatoon is seeking some financial advice.

According to a document posted online, the city is requesting quotes for a financial review audit until next Friday.

The document indicates that in the past several years the city has posted operating budget deficits and has had to tap into reserves and borrow in order to balance the budget. It gives examples, including 2022 when the city’s mill rate and operating deficit before transfers and borrowing was just under $11 million.

In 2021, there was a $6.54-million deficit, and in 2020 it was $4.15 million.

For 2024 and 2025, the city initially faced a $75-million funding gap prior to deliberations in late November and early December, resulting in the biggest property tax hike in 10 years – 6.04 per cent for 2024.

650 CKOM requested an interview with the city, but a statement was sent instead. The statement indicated that the city’s Standing Policy Committee on Finance has directed the city auditor to complete a financial review.

“The City Auditor has determined that a co-sourced approach is best for this engagement,” read the statement.

The objective, according to the online documents, is to assess the city’s operating financial condition and compare it with other cities.

Recommendations on how to avoid future operating deficits are also being requested.