Saint John is on track for a small surplus this year, according to city finance officials.
Council’s finance committee was provided with an update on the city’s $187-million budget this week.
Comptroller Craig Lavigne said they are forecasting a roughly $1.1-million surplus for this year.
The surplus, which is about 0.5 per cent of the city’s overall budget, would be considered additional revenue in 2026.
Lavigne said revenue for the city is expected to be about $5.6 million higher than budgeted.
Unanticipated or one-time revenues are the largest reason behind the surplus, he noted.
Higher than normal interest rate revenue are leading the way, along with stronger building and permitting revenues.
Interest revenue is expected to be $2.1 million higher while permits and licensing are more than $542,000 higher.
Meanwhile, overall expenses for the city are currently projected to be more than $4.4 million over budget.
The Saint John Transit subsidy is forecast to be $550,000 over due to the increased cost of parts and fuel.
There is also a $637,000 variance largely due to a pair of railway crossing projects, but most of those costs are recovered in revenue.
Staff are recommending transferring $1 million to the fire fleet reserve to help pay for a new $4-million ladder truck in the future, as well as $1 million to the capital reserve.
Over at Saint John Water, staff are projecting a small surplus of $204,585, which represents less than 0.4 per cent of the $52.2-million budget.
Revenue is coming in $5.6 million higher than expected, which officials said is mainly due to an industrial customer coming online to start using potable water.
