Opposition party leaders are reluctant to posit why the Yukon's MLAs are being recalled for the spring session in the middle of winter.

That's just fine with Premier Dennis Fentie, who yesterday announced proceedings in the legislative assembly will resume on Feb. 3.

"There's going to be all kinds of speculation why we came in early, blah blah blah,” the premier told the Star this morning. "It's really no different than when (the legislature) is reconvened later than usual.”

The last time the territory's lawmakers began a new sitting so early in the year was in 1989, when then-premier Tony Penikett recalled the assembly on Jan. 10, only to adjourn debate six days later.

Without an approved budget, the adjournment triggered a general election a month later in which Penikett parlayed his NDP minority government into a majority.

Fentie sidestepped questions on whether Yukoners could expect an early election – he must drop the writ no later than Oct. 14.

The premier also avoided speaking about his political future with a spring leadership review for the ruling Yukon Party looming, and if that was a factor in his decision.

"We all know there will be an election no later than November ... and everybody knows this, regardless of whether there's a leadership race,” said Fentie.

He would not say if he would seek another mandate to lead his party into a third general election.

"All these things will become clear in due course; the next step is to debate the budget.”

And it's the budget that Fentie – also the territory's Finance minister – promises will be balanced and include a surplus, whilst topping up the territory's dwindling savings account, which has Opposition Liberal Leader Arthur Mitchell concerned.

"To say the next year's budget is balanced and there will be significant growth in our net fiscal position doesn't really add up,” Mitchell said in an interview this morning.

"The only way to grow the savings account is to take in more than you spend.”

In 2009, the Yukon's net financial resources – the government's "cash in the bank” after all liabilities, such as pension commitments, are accounted – were $135.5 million.

Two years later, Finance officials estimate the territory's net financial resources have dropped to $33 million.

Mitchell also pointed to the 2009/2010 budget that projected a $19-million surplus, but government spending pushed that figure to $25.6 million into the red.

Spending in the current 2010/2011 fiscal year has already taken a near-$6 million swing from original projections that the government would turn in a $2.9 million surplus.

New Democratic Party Leader Liz Hanson also has questions about the government's finances which she plans to pursue once the spring session commences.

"I'd like to see how he's going to explain the financial performance over the last couple of years and what he's proposing for this year,” Hanson said Wednesday afternoon.

"If he says he's got a billion (dollars) to spend, it sounds like we're counting on getting continued access to federal stimulus cash – what I'd call bonus money.”

Since 2008, the Yukon has been on the receiving end of more than $200 million in federal stimulus cash, over and above the annual transfers from Ottawa which make up more than 80 per cent of the territory's revenue.

In order to return the Yukon's "savings account” to levels seen in 2009, the government would need to dedicate more than $100 million of this year's revenue to its net fiscal resources, nearly 10 per cent of a billion-dollar-plus budget. (In 2009/2010, the Yukon budget was $1.003 billion and this year it is closer to $1.1 billion.)

Asked how much he intends to pump into the Yukon's savings account, and whether this cash shift would necessitate cuts in programs and services, Fentie again avoided the question and touted the fact the territory's finances remain in the black.

"There's strong fiscal management, increased revenues and strategic investments to maintain our fiscal resources,” said Fentie. "There's no other jurisdiction in Canada, other than Alberta, that can say that.”