At the City Council meeting on July 7, Deux-Montagnes treasurer and chief financial officer Julie Guindon submitted the consolidated financial report for the fiscal year ended December 31, 2015.
2015 Consolidated Financial Report: Another Great Year for Deux-Montagnes
Mayor Denis Martin said he was pleased with the numbers. “This is a very positive report, good news for everyone in Deux-Montagnes, and especially reassuring about the future of our great city,” he said during the Council meeting.
Among the many highlights in the report is the City’s operating surplus of $1.84 million. Since the city’s sound management practice requires that a portion of any surplus be allocated for future expenses, $1 million will be set aside for this purpose.
Net indebtedness, not including entities controlled by the municipality, is down by more than $6 million, despite an investment of over $4 million in fixed assets. The actual amount invested in 2015 was $4,096,220, primarily for work on the replacement and rehabilitation of sewer and water lines, repairs to the Boulevard des Promenades and the bicycle path, purchases for the police and fire departments, and improvements to the public library and parks.
“This is the third consolidated financial report presented to our citizens by the Council elected in 2013,” the mayor said in his concluding remarks. “The improvement in our city’s financial situation is indeed impressive by any measure.”
