Saint John ended the 2024 fiscal year with a small surplus, according to unaudited financial statements.
The general fund surplus of $2.6 million works out to just over one per cent on the $187.8-million budget.
Comptroller Craig Lavigne told council’s finance committee that overall revenue came in $8 million higher than expected.
“The majority of it is coming from one-time revenues and not necessarily less expenditure, meaning that we did not achieve the surplus from reducing our expenses, rather than it’s a direct result of revenue,” said Lavigne.
That included $1.8 million in interest revenue and nearly $1.7 million from WorkSafeNB, he noted.
Meanwhile, overall expenses for 2024 were over budget by almost $5.4 million, or nearly three per cent.
Much of the extra expenses came from public works and transportation services, as well as “other” charges, which include transfers to reserves.
Savings in public safety services, strategic services and growth and community development services helped offset the overages.
The surplus will be set aside in reserves for the new multipurpose recreation facility, as previously approved by council.
Staff are also recommending that $1 million be transferred to the fire fleet reserve for a new ladder truck.
