Community Connections

  • January 14, 2015

    This is our Community a Celebration of Cultures

    Community Connections is pleased to invite you to our 4th annual event "This is our Community a Celebration of Cultures".  This event will be held on March 15, 2015 from 1:00 pm to 4:00 pm at the Glencairn Neighborhood Centre - 2626 Dewdney Ave. East

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  • September 14, 2012

    Special Olympic Truck Convoy & Truck Pull

    A TRUCK CONVOY of close to 70 trucks with large trailers left Saskatoon in the morning and arrived in Regina at the Turvey Centre at 1pm.

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  • September 8, 2012

    Canadian Paraplegic Association Relay

    I was honoured to attend and bring greetings to this fun event

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  • Chinese Freemasons of Regina

    We were pleased to attend their 4th Anniversary Banquet and Celebration

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  • June 23, 2012

    Aboriginal Day Live & Celebration

    I had the honor of attending the Opening Ceremonies of the National Aboriginal Day Live & Celebrations.

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  • K+S Potash Legacy Mine Ground Breaking Ceremony

    K+S Legacy Project near Bethune, Saskatchewan

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  • Feed the Kids Night

    At North Central Family Centre.

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FEBRUARY 14, 2014

POTASH POSES CHALLENGE AT THIRD QUARTER

A drop in potash revenue means the government will dip into the province’s rainy day fund to maintain a balanced budget.

The 2013-14 Third Quarter Financial Report released today shows General Revenue Fund (GRF) revenue is down $144.2 million from budget estimates.  A transfer of $135 million from savings in the Growth and Financial Security Fund (GFSF) is needed to offset the revenue shortfall, resulting in a $7.2 million GRF surplus.

The government is still expecting a surplus in the Summary Financial Statements in excess of $400 million, based on estimates from mid-year.

“The Growth and Financial Security Fund is the province’s rainy day account, “ Finance Minster Ken Krawetz said.  “It’s there to buffer the province when extreme, unforeseen events arise, such as the global events affecting the potash price or expenses related to disaster assistance.  “However, we continue to project a healthy surplus on a summary basis.”

Overall, GRF expense is up $48.4 million, or 0.4 per cent compared to budget.  This is largely due to higher than forecast expenditures related to disaster assistance, funding for people with disabilities, winter highway maintenance and flood damage reduction measures, as well as higher claims under the Research and Development Tax Credit.

2013 economic growth was projected to be 3.6 per cent at mid-year, up from 2.6 per cent at budget, primarily reflecting a record crop, more people working in the province, higher-than-projected personal income, and higher corporate income, which reflects more business investment.

Following the transfer to the GRF, the GFSF will continue to have a healthy balance of more than $531 million.

“It’s important to remember that government revenues are not necessarily a reflection of the strength of the economy,” Krawetz said.  “Overall, our economy remains very strong.  However, our projections at third quarter underscore the volatility of our resource sectors and reinforce the need for our government to continue to manage spending and meet these fiscal challenges in a prudent and responsible manner, which we have done.”

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For more information, contact:

Jeff Welke
Finance
Regina
Phone: 306-787-6046
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

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