You are here

Asset and Financial Sustainability IconAsset and Financial Sustainability

Two people reviewing pages of a book

We manage resources and risk effectively, ensuring that services and infrastructure meet the needs of citizens today and tomorrow.

Municipal Property Tax per Capita

View Details

Municipal Property Tax as a Percentage of Total Revenues

View Details

Annual Municipal Property Tax Increase

View Details

Debt Supported by Taxes

View Details

Key Civic Infrastructure Status

View Details

Challenges and Key Strategies

 

Strategies for Success
  • Investigate revenue sources to help alleviate pressure on property tax levy.
  • Continue to develop a policy and standardized process for defining, establishing, and obtaining approval of asset and maintenance/operational service levels and associated costs for key assets outlined in the Corporate Asset Management Plan.
  • Develop a framework for a new community engagement strategy to enable residents to participate in City decisions more often.
  • Design and build a liquid waste station in the north industrial area and eliminate the need for waste haulers to travel through residential neighborhoods and school zones.
  • Clarify a funding strategy to address Saskatoon Light & Power infrastructure renewal issues regarding industry standards, growth requirements, priority projects, and service levels.
  • Develop core capital renewal principles and funding strategies for facility site capital renewal, park amenities, and play structures within a long-term asset management and preservation program.
  • Develop business process requirements and issue a request for proposal for an Enterprise Resource Planning (ERP) system that would standardize the City’s business processes and develop a platform for future Service Saskatoon initiatives such as CRM.
  • Complete a life-cycle costing model which departments can use to provide consistent and reliable information during budget deliberations regarding major asset acquisitions.
  • Review processes, systems, and industry best practices to ensure that taxation options are addressed more effectively and efficiently.
  • Utilize external expertise to develop a coordinated strategy that will optimize revenues from naming rights, sponsorship, donations, and advertising.
  • Identify new revenue sources to reduce reliance on municipal property taxes.

Achievements
  • Saskatoon maintained AAA/stable credit rating as a result of its strong financial position.
  • A surplus payment from the Workers Compensation Board and lower than expected oil and fuel prices (reducing expenditures on snow and ice management) helped contribute to a $654K budget surplus.
  • Upgraded the Transit fleet with the purchase of 5 new buses. The new buses are more fuel efficient and will require less maintenance than refurbished models, likely saving the City $260,000 a year in operating costs.

Challenges
  • Saskatoon’s approved property taxes for 2015 increased by 5.33% including 2.14% for dedicated roadways and sound attenuation tax levies and a 3.19% general municipal property tax increase.  The Municipal Price Index (MPI) was 3.23%. 
  • The 2014 growth in non-tax revenues did not keep up with the expenditure growth.
  • Continued efforts are needed to close the funding gap for the Major Bridge Repair Reserve to meet the Service Level target.
  • Additional investment is needed to bring sewer and water infrastructure to a B Service Level.