Saskatchewan Finishes 2014-15 with a $62 Million Surplus

Released on June 26, 2015

The Saskatchewan government hit its budget targets in 2014-15, finishing with a surplus of $62 million, down just $9 million from budget projections.  The province’s year-end financial results were released today.

Total revenue was $14.06 billion, down just $14 million or 0.1 per cent from budget.  Total expense was $14 billion, down $5 million or 0.03 per cent from budget.

“The fact we were able to conclude such a challenging year on budget and with a modest surplus demonstrates, once again, the resilience of the Saskatchewan economy,” Finance Minister Kevin Doherty said.  “Although revenue from oil was less than anticipated at budget, revenue from potash and other sectors—combined with the government’s careful management of expense—helped keep Saskatchewan on the path of steady growth.”

Oil revenue was $1.28 billion, down $285 million from budget projections.  However, potash revenue was $546 million, up $149 million compared to budget.

The government provided $107.7 million in unanticipated disaster assistance in 2014-15, largely related to flooding.  That additional spending was offset by controlling spending in other areas.

“Within a balanced budget, we continue to be able to help Saskatchewan people who need it most, including those hit by flooding this past summer,” Doherty said.  “Sound financial management is a key part of our plan to keep Saskatchewan strong.”

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For more information, contact:

Jeff Welke
Finance
Regina
Phone: 306-787-6046
Email: jeff.welke@gov.sk.ca
Cell: 306-536-1185