Saskatchewan ends year with $95 million surplus

The 2010-2011 fiscal year was a positive one for Saskatchwan as the province came out with a $95 million surplus.

Finance Minister Ken Krawetz reviewed the cost and expenses from the latest fiscal year.

“2011 turned out to be a very good year for the province and better than expected,” said Krawetz.

Half of the $95 million surplus will be put into the rainy day fund, which is good news for flood victims.

“We may have to use some of that money to get us through these latest series of storms,” said Srawetz, “we don’t know at this point what it will cost to deal with these problems.”

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The rainy day fund is now close to $1 billion.

The surplus was thanks in large part to higher than expected revenues from taxes and non-renewable resources.