Save it or spend it? Saskatoon mulls $5M surplus
The Canadian Press
Posted: Mar 14, 2013 9:05 PM CST
Last Updated: Mar 14, 2013 10:11 PM CST
The City of Saskatoon is reporting a $5-million surplus for 2012 and there are many options for spending — or saving — the money.
Mayor Don Atchison said the windfall came from higher than expected revenue from parking fines and traffic tickets.
City-owned venues, including the Credit Union Centre, TCU Place and Shaw Centre also generated more revenue than was originally projected.
Atchison said he would like the cash to be spent on road repairs, maintaining bridges and snow removal.
Saskatoon's administration is recommending the surplus money go to a number of reserve accounts, including the city's fiscal stabilization reserve.
As well, officials suggest putting $1 million into a contingency fund to be spend on unexpected capital needs.
City council will consider the recommendations at an upcoming meeting.
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