The Provincial Government recently approved an increase for municipalities under its Municipal Revenue Sharing Program. According to the statistics supplied, the total funding available to municipalities this fiscal year will be $304,238,000. This is a 26% growth over the course of five years.
This year, the Municipal Revenue Sharing Grant will provide the Town of Gull Lake with a total of $253,292 for this fiscal year. Over the course of the past five years, this represents a 14.9% increase for the municipality.
The funding for the program is based on three-quarters of one point of PST collected from the previous two years. This permits municipalities to receive more funding when the province economy is performing well and less funding when the economy is slowing.
The Municipal Revenue Sharing Program was amended in the 2009-2010 fiscal year to allow grant funding to be based on one percent of the PST. In 2019, the one percent formula was decreased to three-quarters of a percentage of PST revenue.
For additional information, visit the Saskatchewan Government Municipal Revenue Sharing webpage.
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