Sask. government reports strong finances for 2021-22 fiscal year
While total revenue increased for the province, drought conditions and COVID-19 increased some expenses according to the government’s public accounts report.
Total revenue was reported as $18.14 billion, up $3.66 billion from the forecasted revenue.
The public accounts report maintained that most categories of revenue increased but higher taxation and non-renewable resource revenue were the largest contributors to the overall increase.
Tax revenue totaled $8.2 billion, an increase of $964.26 million from the forecast, largely due to the higher revenue from corporations as well as individual income taxes and from provincial sales and fuel taxes, the government outlined in its release.
Non-renewable resource revenue totaled $2.92 billion in 2021-22. An increase of 1.59 billion compared to the forecast.
The provincial deficit was an improvement on the forecast. The government anticipated a $2.61 billion deficit but in reality it came out to be $1.47 billion, an improvement of $1.14 billion.
The total expense for the fiscal year for the province was $19.60 billion, up by $2.52 billion from the projection.
This was in large part due to:
- Agriculture expenses of $3.19 billion (An increase of $2.32 billion from the budget projection)
- Health expenses totaling $6.88 billion (A $348 million increase from the budget projection due to pandemic costs)
Public debt was also reported as decreasing by $529 million from the budget projection, to a total of $27.24 billion as of March 31. 2022.
Finance Minister Donna Harpauer stated that the government is pleased with the year-end public accounts report.
"Saskatchewan's improvement through the fiscal year, and our government's strong financial plan has the province back on track," she said in the news release.
“Saskatchewan is poised to be a leader in economic growth among the provinces in 2022 according to private sector forecasts. As our finances are strengthening, we continue to invest in the programs, services and capital projects that our province's people value."
CTVNews.ca Top Stories
'I just can't believe that it took so long': Body found in wreckage 3 months after deadly fire
A man accused of arson in a January Old Strathcona apartment fire is expected to be charged with manslaughter after a body was discovered in the burned building late last month.
No proof man lied to brother about number of kittens born in litter, B.C. tribunal rules
A man was denied a $5,000 payout from his brother after a B.C. tribunal dismissed his claim disputing how many kittens were born in a litter.
Quebec police hand out hundreds of tickets to Hells Angels and other bikers before 'first run' meeting
Quebec provincial police handed out hundreds of fines to Hells Angels members and other supporting motorcycle clubs who met for their 'first run' in a small town near Sherbrooke, Que.
Grandparents killed in wrong-way crash on Hwy. 401 identified
A 60-year-old man and a 55-year-old woman killed in a wrong-way crash on Highway 401 earlier this week have been identified by the Consulate General of India in Toronto.
Snakes almost on a plane: U.S. TSA discovers a bag with small snakes in passenger's pants
According to an X post by the Transportation Security Administration, officers at the Miami International Airport found the small bag of snakes hidden in a passenger's trousers on April 26 at a checkpoint.
A Chinese driver is praised for helping reduce casualties in a highway collapse that killed 48
A Chinese truck driver was praised in local media Saturday for parking his vehicle across a highway and preventing more cars from tumbling down a slope after a section of the road in the country's mountainous south collapsed and killed at least 48 people.
Russia puts Ukrainian President Zelenskyy on its wanted list
Russia has put Ukrainian President Volodymyr Zelenskyy on its wanted list, Russian state media reported Saturday, citing the interior ministry’s database.
Britney Spears 'home and safe' after paramedics responded to an incident at the Chateau Marmont, source tells CNN
A source close to singer Britney Spears tells CNN that the pop star is 'home and safe' after she had a 'major fight' with her boyfriend on Wednesday night at the Chateau Marmont in West Hollywood.
Explosion at train station leads to discovery of stolen car on Montreal's South Shore: police
Police are investigating after a BMW exploded in the St-Lambert Exo train station parking lot on Montreal's South Shore.