The mid-year financial report for Regina City Council pegs the city as possibly having a $6.5 million surplus.
According to the report, the General Fund Operating budget surplus comes from a vareity of different pools including staff vacancies, which accounts to $2 million.
The Utility Fund surplus is due to higher revenue from the Coop Refinery and the Hauled Wastewater Station along with lower costs to operating the Waste Water Treatment Plant which account for $4.5 million.
Director of Finance for the City of Regina June Shultz said while there might have been more revenue, building permits and parking revenue is down this year.
“Based on the fact that we are within $2 million dollars overall on the operating side, it is having a minor impact, but it’s not a significant impact.”
Shultz said overall, the budget it looking promising for the rest of the year.
“We regularly review and assess our forecast against the budget that we have and with the minor amount of surplus that we have on both the operating and the utility side, we are following good financial management.”
However, this surplus is only projected as this budget doesn’t account for any unforeseen weather circumstances.
The full report can be seen here.