Yara Belle Plaine Inc. will be renewing its naming rights for the Yara Centre.  

Moose Jaw City Council is meeting tonight and one of the items on the agenda is to approve the new naming rights agreement.  

The agreement is worth $500,000 over 10 years or $50,000 each year.  

Also on the agenda, the city’s department of financial services will be presenting the audited 2021 financial statements.  

It’s expected that the statements will show a $929,413 surplus for the city’s operating funds. The surplus will flow into the city’s accumulated surplus fund, which will be up to over $1.66 million.   

The past practice for the city’s accumulated surplus is maintaining about five per cent of the annual operating budget, which is over $2.6 million. The city is short $958,504 from its target and hasn’t reached its target since 2017.  

The primary use of the accumulated surplus is to fund years where there is a financial shortfall. If there are not enough funds in the accumulated surplus to make up the shortfall, it would have to be made up the following year with tax levies or through other reserves.  

The financial department will also be presenting its third quarter financial report. It's expected that the city is slightly below last year’s revenue collection and expenditures are ahead of 2021 levels.  

The Buffalo Pound Water Treatment Plant Corporation will be presenting its 2022 semi-annual report. The water treatment plant is currently under a $325.6 million renewal project that’s expected to be completed and operational by the end of 2025. 

And finally, city council will receive a 2022 Golden Ticket Sports Centre update. The city entered into a five-year lease and operating agreement with Golden Ticket Sports in June of 2021 for the operation of the former Hillcrest Sports Centre building. 

Discover Moose Jaw will have full coverage on tonight’s city council meeting.