Covid-19 and City Finances
Just as Covid-19 has had an impact on the finances of many families, the pandemic has caused some major changes to budgeted expenses and revenues at the City. There have been some areas of savings, for example, with recreation facilities closed there are lower expenses on those buildings. At the same time, there are lower revenues from parking, bus fares, property taxes (because of deferred payment options), and leisure centre tickets. The overall impact to the City budget could be over $20 million, but City Council has already given direction to find a way of dealing with these challenges without changing property tax rates. There are now hiring freezes at City Hall and Council is looking at options to reallocate new capital dollars from the Province of Saskatchewan or defer 2021 projects. When finances are tough for families across Saskatoon, we need to avoid any further 2020 property tax changes.