Saskatchewan government releases first-quarter financial report
An update on Saskatchewan's financial picture was released by the government Friday, and there is some movement on the numbers in the first-quarter financial report.
Revenues are down overall by $113.2 million mainly because of fallen oil prices and lower than expected Crown land sales.
However, it has been partially offset thanks to a $96.2 million increase in taxation revenues and over $19 million in SLGA sales.
While he is happy things remain balanced, finance minister Ken Krawetz expects departments to start tightening belts to the tune of $55 million.
He added that the growth and financial security fund still has $700 million in it, so there is enough wiggle room for a rainy day.
"It is a cushion in case some calamity occurs in the world that causes us to either lose revenue or incur additional revenues."
The expenses do remain on target in the first quarter with increases in only two areas, an additional $20 million for the provincial disaster assistance program and $5 million for the new stadium project.
The NDP doesn't think the government has a handle on the books. Trent Wotherspoon wants to know what the spending cuts means.
"They killed the film economy, then asked seniors to pay significantly more for their prescription drugs, now just three months later they are announcing another round of cuts but not describing to Saskatchewan people what theose cuts will be."
Wotherspoon said the NDP warned at budget time that commodity forecasts made by the government were overly optimistic.