The City of Sault Ste. Marie is trending towards finishing 2019 in the black.
A nine month financial report is included in the city council agenda for Monday’s meeting and if budget trends continue and the city experiences a normal early winter, city financial staff projects an up to 500-thousand dollar surplus from operations.
The City also recently learned that it will be receiving an increase in the amount of grant funding provided by the province through the Ontario Municipal Partnership Fund.
It’s the main grant funding our City receives from the province and it is unconditional—-the increase is worth over 778-thousand dollars which represents a 5% increase.
A preliminary budget report will be presented to city council this month and budget deliberations are scheduled for next month.