News Releases

*This report includes road restrictions on Priority 1 (high traffic, high speed) streets only.

NEW

MELVILLE ST WB LANES CLOSED FROM BRAND RD TO PORTAGE AVE
(Directional drilling)
Start: January 16, 7:00 a.m. End: January 16, 3:00 p.m.

ONGOING

BRIGHTON BLVD ROAD CLOSED FROM TASKAMANWA ST TO 8TH ST E
(Construction)
Use McOrmond Dr
Start: November 20, 2023, 7:00 a.m. End: November 18, 2024, 5:00 p.m.

All restrictions will be lifted as indicated, weather permitting and barring any unforeseen circumstances.

For more information about current road restrictions and construction, visit saskatoon.ca/construction.

S&P Global Ratings (S&P) has today reaffirmed the City of Saskatoon’s credit rating with the highest rating possible, a ‘AAA’ credit rating with a “Stable” outlook. The City has maintained the ‘AAA’/Stable credit rating for twenty-two years since S&P first began affirming the City’s credit rating in 2002.

“We take great pride in S&P endorsing the City’s 22^nd ‘AAA’/Stable credit rating - it reconfirms Saskatoon City Council and its Administration's ongoing commitment to fiscal responsibility and transparency," says Clae Hack, Chief Financial Officer.

S&P rates the City of Saskatoon’s institutional framework as “…extremely predictable and supportive…” and bases credit context on having “…effective financial management practices consistently support strong operating balances...”

“It’s an honour to receive the ‘AAA’/Stable credit rating endorsement” says Hack. “It validates that Saskatoon manages municipal finances responsibly, plans for the future appropriately and that we can sustainably deliver high-quality civic services and programs residents expect and rely on today and well into the future.”

S&P’s rationale and outlook contributing to the confirmation of the City’s strong credit rating within the January 15, 2024, S&P Global Ratings Direct® Report states:

• The City “will continue to benefit from a strong and diverse economy that supports budgetary performance, keeping debt issuance manageable and maintaining an exceptional level of liquidity.”
   
• “We expect Saskatoon's strong and stable economy, coupled with a growing population and upcoming tax adjustments, will result in healthy operating balances throughout the outlook horizon.”

• “Saskatoon's strong and prudent financial management is a key credit strength, in our view. The City's management team is experienced and qualified to effectively enact fiscal policies and navigate external risks. Good political consensus is demonstrated by a long track record of passing budgets before the start of the fiscal year with minimal variations from projected revenues and expenses.”

• “We view both management accountability and transparency to be strong, as reflected in ongoing disclosures and grounded assumptions, as well as prudent financial policies.”

• “The City consistently produces robust annual budget documents. It also prepares multi-year operating and capital budgets for upcoming years, alongside comprehensive long-term capital and borrowing plans. This underpins fiscal transparency and discipline, in our assessment.”

S&P Global does note the significance of Saskatoon’s upcoming capital plan in 2024-2026 including key projects such as the City’s Bus Rapid Transit, expansion to the City’s Water Treatment Plant and investment in Land Development that could impact the City’s after-capital balances, one of many metrics used to evaluate a municipalities credit score.

“The City’s capital plan for 2024-2026 includes significant projects that will support the needs of a growing city” adds Hack. “We are confident our financial plans to deliver these projects are robust and utilize the City’s reserves, debt and government funding in a fiscally responsible manner.”

Credit ratings are one of several tools that investors and lenders use when making decisions regarding an organization’s future financial strengths and weaknesses. For the City of Saskatoon, the ‘AAA’/Stable rating serves as an indication of the City’s credit risk and ability to meet its financial obligations in full, and on time.

View reports on the City of Saskatoon’s financial performance and credit rating history at saskatoon.ca.

On January 8, the City started accepting requests for smaller black carts, providing residents more choice and flexibility with their household's waste needs. In the first week of application intake, more than three thousand five hundred requests from residents seeking smaller garbage carts have been received.

“We are excited by the amount of interest there has been in the cart size options just one week into a two-month window for swap requests. We do encourage residents to use the online tool through their Utility Account to avoid call wait times,” says Brendan Lemke, Director of Water and Waste Operations.

As part of the Council-approved 2024/2025 Multi-Year Business Plan and Budget, the funding source for black cart garbage services has shifted from property taxes to a utility model. A fixed utility rate of approximately $9.92 per month will be in place from January to June 2024 for all households with roll-out black cart garbage services. Utility rates based on black cart size will not be in place until cart swaps are completed city-wide.

Residents with curbside collection services can assess their waste needs and choose the black cart size suited to their household. The cart sizes include the current large (360L) as well as a medium (240L) and a small (120L) black cart.

The new black cart program will have environmental benefits, while providing choice to residents. Communities that use similar approaches have seen their waste diversion rates improve by 5-17%, as residents increase their use of diversion programs and find new ways to reduce their general waste generation. Residents have shown a high interest in smaller black carts due to the ability to control costs, save space and having less garbage to dispose of.

The first cart swap request window will be open until March 1. The transition to smaller carts will take some time as the City works through exchanging the existing large black carts for smaller carts. Cart swaps will be completed April through June corresponding with collection schedules. More information regarding the cart swap process will be made available in the coming months once the first request window closes and the swap process and schedule are finalized.

If residents miss the deadline or need more time to decide, there will be another intake for cart swap requests this fall. 

To learn more about the Black Cart program or rates, visit saskatoon.ca/blackcart. To request a smaller cart, visit saskatoon.ca/utilityaccount and sign up or login to your Utility Account. Residents can also request a cart swap by calling a Corporate Revenue Customer Service Representative at 306-975-2400.

*This report includes road restrictions on Priority 1 (high traffic, high speed) streets only.

NEW

No new projects are scheduled to start on this date. 

ONGOING

BRIGHTON BLVD ROAD CLOSED FROM TASKAMANWA ST TO 8TH ST E
(Construction)
Use McOrmond Dr
Start: November 20, 2023, 7:00 a.m. End: November 18, 2024, 5:00 p.m.
 

All restrictions will be lifted as indicated, weather permitting and barring any unforeseen circumstances.

For more information about current road restrictions and construction, visit saskatoon.ca/construction.
 

*This report includes road restrictions on Priority 1 (high traffic, high speed) streets only.

NEW

No new projects are scheduled to start on this date.

ONGOING

BRIGHTON BLVD ROAD CLOSED FROM TASKAMANWA ST TO 8TH ST E
(Construction)
Use McOrmond Dr
Start: November 20, 2023, 7:00 a.m. End: November 18, 2024, 5:00 p.m.
 

All restrictions will be lifted as indicated, weather permitting and barring any unforeseen circumstances.

For more information about current road restrictions and construction, visit saskatoon.ca/construction.