In early July 2016, in compliance with Section 108 ofThe Cities and Towns Act, the external auditors confirmed the accuracy of the Ville de Deux‑Montagnes financial statements and aggregate taxation rate for 2015.

The financial statements present a very positive balance sheet that will meet with the approval of Deux-Montagnes residents and more importantly, reassure them about the financial future of our beautiful city.

One standout from the report is that the City has an operating surplus for tax purposes of $1,840,000. In accordance with sound management practices, $1,000,000 of this amount has been earmarked for future expenses and early debt repayment.

In 2015, the city invested $4,096,220 in fixed assets. Despite this capital investment, the net debt, excluding organisations controlled by the municipality, is down more than $6 million. The net debt primarily stems from the following initiatives: replacement and upgrades to water mains and sewers; rehabilitation of the Boulevard des Promenades; the bike path; the purchasing departments of police and fire safety services; and improvements made to the library and parks.

It is important to fully understand how this financial indicator, referred to as net debt, is calculated. It is equal to the financial assets less the financial liabilities.

Decreasing the net debt reduces the portion of our operating budget spent on debt repayment. Prudent management enabled us to limit interest payments and spend taxpayer money on services that directly serve the community.

Since taking office in 2013, this is the City Council’s third consolidated financial report prepared for the public. It is a clear indicator of the spectacular financial turnaround we have achieved for the city.