Numbers released Thursday morning showed the 2018-19 budget had a deficit of $348.3 million, $17 million less than what was originally projected. Higher forecast revenue helped to reduce the projected deficit. The increase in revenue is due to higher than anticipated resource revenue, higher net income from government business enterprises, federal transfers, and other sources of revenue.

The expenses were up $121.1 million from the budget, in part due to pension expenses. Higher than average expenses for child and family services, health services and forest fire operations were also contributing factors.

The price of oil was another key factor in the numbers Thursday. The government was anticipating the price of oil to average out at $58 a barrel over the course of the year, but the first seven months of the budget saw the price closer to $68 a barrel. With the drop in recent weeks, however, there are some concerns, including how the lower resource revenues could impact the 2019-2020 budget.

“While we are on course, there is still work to do,” said Finance Minister Donna Harpauer. “We continue to manage spending carefully, invest in priorities for Saskatchewan people, shift from our reliance on volatile resource revenue and help keep our economy strong."

More Local News

SaskPower Pleased With Performance Of CCS at Boundary Dam Power Station

SaskPower’s carbon capture and storage facility at the Boundary Dam Power Station had a great year in 2018, according to their vice president of power production, Howard Matthews. The facility…

Millions for Crop Research in Saskatchewan

On Wednesday, the federal Minister of Agriculture Lawrence MacAulay and Saskatchewan Agriculture Minister David Marit announced more than $12 million in funding for forty-four crop-related research…

Humane Society Receives Big Boost With $5000 Grant

The humane society has recently received a $5000 grant from the Western Financial western community foundation. Angela Prette with the humane society was extremely happy with the amount of the grant…

Bitter Winds Sticking Around

After some balmy temperatures and days to start the new year, more traditional Saskatchewan weather has moved in for the third week of January. Cold days and even colder nights with bitter winds is…

Snowplow Safety Important For Everyone

With the lack of snowfall we've seen in the southeast corner of the province, it's easy to forget about the drivers that keep the roads clear and drivers safe. Snowplow operators are often overlooked…

Accident On 13th Ave and King Street

A two-vehicle collision took place early Wednesday morning. "At approximately 7:45 this morning, a two-vehicle collision occurred at the intersection of 13th Avenue and King Street," explained…

The Difference Between Norovirus and Influenza Explained

Norovirus has been identified as the cause of a number of cases of nausea, diarrhea, and vomiting in the province. "Norovirus is a type of virus that affects the intestinal system," explained Doctor…

City's Proposed 2019 Budget Includes No Increase In Taxes Or Utility Rates

The city is planning some ambitious ideas for the proposed 2019 budget, but they won’t be including any higher taxes or utlility increases. The proposed budget was prepared by city administration and…

Pharmacies Running Out Of Flu Vaccine

It’s been a tough flu season in Canada and now some pharmacies in the Estevan area have been running out of the flu vaccine. Jeff Hilderman at the Estevan Pharmasave has seen his pharmacy run out of…

DiscoverEstevan.com is Estevan's only source for community news and information such as weather and classifieds.

Search the Biz Guide

Login