ROSEMÈRE, May 13, 2020 – Pursuant to the Cities and Towns Act, Rosemère tabled its financial statements for the year ended December 31, 2019, at a Town Council meeting on May 11, 2020. The report showed a budget surplus of $532,2000, representing 1.6% of the operating budget. This surplus is attributable to the sound management of the Town’s finances as well as several non-recurring and variable items.
“Our team takes great pride in managing municipal finances with care and diligence, just like any of our residents would with their household budget,” said Rosemère Mayor Eric Westram.
The surplus in 2019 is largely due to the vitality of the real estate market. Revenue from transfer taxes was $815,000 higher than forecast. The Town also succeeded in obtaining an extra $308,000 in government grants during the year.
In terms of additional expenses, the Town’s public transit contribution increased by $511,000, while flooding and ice storm expenses amounted to $368,500. The weather conditions in spring 2019 were problematic in this respect.
Note that the Town also generated savings in additional expense items in 2019 to the tune of $288,700.
Investments to improve the community environment
During the year, the Town invested in the living environment for the whole community. Accordingly, some $2.5 million was directed to sewer and water infrastructure rehabilitation. More than $826,000 was also invested in the Town’s roads, streets and sidewalks, while $410,000 went toward street lighting systems to enhance public safety.
Stable level of community debt
As at December 31, 2019, the debt payable by all residents was $25.8 million. “The debt collectively shared by the community is relatively stable, which is something we’ve continuously striven to achieve,” Mayor Westram added.
Consult the report on the Town's website.