Saskatchewan municipalities will be receiving $8.3 million more in revenue sharing next year, thanks to an increase in Provincial Sales Tax (PST) revenues in 2013-14.
"Saskatchewan's economy continues to be strong, and that activity is translating into more revenue for municipalities," Government Relations Minister Jim Reiter said. "Municipalities are on the front lines of dealing with growth, and I am pleased that in next year's budget, they will be receiving a record high $265.3 million from the province in revenue sharing."
The 2015-16 Municipal Revenue Sharing total will represent a 108.4 per cent increase since 2007-08, up from the previous high of $264.4 million in 2013-14.
"We are pleased that urban municipalities will benefit from increased revenue sharing," Saskatchewan Urban Municipalities President Debra Button said. "Today's announcement provides steady, unconditional and predictable funding allowing us to plan ahead."
"Rural municipalities are contributing to the province's economic momentum in the resource and agriculture sectors," Saskatchewan Association of Rural Municipalities President Dave Marit said. "The financial support we receive from the province will give us the opportunity to meet the challenges of growth while providing important services to our citizens."
Municipal Revenue Sharing is based on one percentage point of PST, and since its inception in 2007, has provided the highest amount of unconditional funding shared with municipalities by the provincial government in the history of Saskatchewan.
Individual Municipal Revenue Sharing allocations to municipalities for the 2015-16 fiscal year will be announced in the March 2015 Budget.