Released on February 26, 1996
The provincial government will balance the budget for the 1995-96 fiscalyear, taking into account year-end revisions resulting from over-
expenditures due to unforeseen circumstances, Finance Minister Janice
MacKinnon said today.
The government has approved a total of approximately $115 million in
special warrant funding on an original 1995-96 provincial budget of $5.14
billion.
The warrants are comprised as follows:
Approximately $47 million, previously approved by the government and
recognized in the mid-year financial report, exclusively to handle
unusually high summer fire fighting costs.
Approximately $42 million, also recognized in the mid-year financial
report. These costs include road repairs caused by spring flooding and
additional fire fighting requirements, among other expenditures.
Approximately $26 million in new special warrants, to cover costs
associated with the downsizing of government and two out-of-court
settlements of long-standing lawsuits, among other expenditures.
"Special warrant funding reflects unavoidable costs incurred during the
year that were not foreseen at the time the budget was developed,"
MacKinnon said. "Close to 60 percent of these expenditures were related
to severe forest fires and highway damage due to spring flooding."
Forecasted under-expenditures in other areas of approximately $48.5
million will help offset these unforeseen costs.
"The fact that the government can absorb unexpected costs of $115 million
and still balance the 1995-96 budget reflects the fiscal and economic
strength of Saskatchewan.
"It is my intention to introduce a new four-year financial plan as part
of the upcoming budget in March, as well as provide a full accounting of
1995-96 results. This budget will clearly outline the priorities of the
people and the province as we move toward the 21st century," MacKinnon
said.
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For further information, contact:
Ron Podbielski
Director of Communications
Finance
Regina
Phone: (306) 787-6578