The city of Contrecœur generates a surplus of $844,960

Contrecœur, May 4, 2022 – The growth in residential development supported by young families seeking affordable first home, which entails higher transfer fees, largely explains the $844,960 surplus generated by the City of Contrecœur in its financial report for 2021. Higher income from subsidies and taxes are also factors influencing this positive result.

Financial report 2021

The financial report was submitted at the regular city council meeting on May 3, 2022. Fiscal year 2021 shows a surplus of $844,960 over budget projections of $15,821,697. The financial statements also give a true and fair view of the results, in accordance with Canadian public sector accounting standards.

parts

The share expenditure for the City amounts to 22% of the operating expenditure. The organizations to which the City pays contributions are mainly the Richelieu Saint-Laurent Intermunicipal Police, the Metropolitan Regional Transport Authority, the Montreal Metropolitan Community, the Marguerite-D’Youville MRC and the Intermunicipal Services Board. – Richelieu.

Debt

As of December 31, 2021, the long-term debt is $36,743,200. This amount is divided into a part related to sectoral taxes, mainly commercial and industrial taxes, and a part that comes from subsidies. The amount of debt charged to all citizens is $25,068,444.

fixed assets

The City invests in fixed assets every year. Expenditure for the year 2021 was $11.4 million, of which more than 60% is financed by sector taxes for the projects around Citée 3000 and Rue Industrielle.

The city carried out works in its buildings and purchased various vehicles and equipment for the fire service and for public works. In order to continue the master plan of the parks, investments were made in the parks Saint-Laurent-du-Fleuve, Donatien-Donais, Cormier, Antoine-Pécaudy and JAT Coallier, as well as in the paths of Barbe-Denys-De La Trinité. † Of course, the great investment in the François-De Sales-Gervais park should be mentioned. The city will benefit from a $995,000 grant from the Montreal Metropolitan Community (CMM). These park development investments total $2,832,385.

Three-year investment program

Last December, the city passed a three-year investment program (PTI) that amounts to $44,147,807 for the years 2022 to 2024. Following on from this program, the city proceeded to construct the new drinking water reservoir in 2022 to maintain an efficient and compliant water balance. It will work and carry out plans and specifications for future works in several streets of the city to continue the local road infrastructure intervention plan and will continue the works in Cité 3000 taxable to the sector to develop this area.

A city that meets the needs of future generations

“The city of Contrecœur benefits from a privileged financial framework. We can count on the input of citizens from the business community, both fiscally and socially, which means that we have important infrastructures for a municipality of our size. The development of the industrial port zone promises significant economic benefits that will enrich our community. We work so citizens can enjoy an environment that lives up to their aspirations, with their contributions to our various committees. The municipal council makes a decision and gives its development guidelines on the basis of information from the municipal management team present. We benefit from good governance where all elected officials and all employees fulfill their roles and responsibilities to build a city that meets the needs of future generations.”concluded Mayor Maud Allaire.

Click on the following link to view the 2021 Consolidated Financial Report: https://bit.ly/3sbh2ze

Source: Sylvain Latour, city of Contrecœur

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