(SK) 2016-17 Public Accounts: Deficit - $1.22 BILLION!

(SK) 2016-17 Public Accounts: Deficit - $1.22 BILLION!

Postby Oscar » Mon Aug 07, 2017 11:00 am

Saskatchewan Releases 2016-17 Public Accounts; Deficit Consistent with Third-Quarter Forecast

[ http://www.saskatchewan.ca/government/n ... c-accounts ]

Released on July 21, 2017

Saskatchewan finished a challenging year with a $1.22 billion deficit in 2016-17, consistent with its third-quarter financial forecast.

“The prolonged downturn in resource prices continued to impact revenue in 2016-17,” Finance Minister Kevin Doherty said. “At the same time, a growing population put pressure on government services such as health care and social assistance.”

The deficit was $914 million higher than budgeted for 2016-17, including the impact of a positive pension adjustment. The Public Accounts includes the Summary Financial Statements, the Financial Statement Discussion and Analysis and the unqualified audit opinion of the Provincial Auditor, stating that “the financial statements present fairly, in all material respects, the financial position of the Government of Saskatchewan.”

“Our government will continue to make the necessary difficult decisions to deal with continuing volatile non-renewable resource revenues. I would like to thank our Ministry of Finance officials and the Provincial Auditor’s Office for their strong work,” Doherty said. “We remain committed to working with all of our partners to address the fiscal challenges we face and return the budget to balance in 2019-20.” -30-

For more information, contact:

Brian Miller, Finance
Regina
Phone: 306-787-6605
Email: brian.miller@gov.sk.ca
Oscar
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