POLITICS

Saskatchewan ends 2014-15 year with $62M surplus; oil revenue down $285M

06/26/2015 10:24 EDT | Updated 06/26/2016 05:59 EDT
REGINA - The Saskatchewan government says it ended its 2014-15 fiscal year with a surplus of $62 million.

That's down $9 million from what it had projected in the budget.

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

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

Oil revenue was $1.28 billion, down $285 million from budget projections, and 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, but the government says that was offset by controlling spending in other areas.

“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," Finance Minister Kevin Doherty said in a news release.

"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.”