June 13 2017

2016 financial statements

ROSEMÈRE, June 12, 2017 – In compliance with the Cities and Towns Act, at its public meeting of June 12, 2017, the Town of Rosemère tabled its financial statements for the fiscal year ended December 31, 2016. These statements reveal a budget surplus of $2.1 million, which can be attributed to the strict control of the public purse exercised by the Town of Rosemère.

"These financial statements attest to our determination to manage Rosemère’s public finances in a responsible manner," declared Madeleine Leduc, mayor of Rosemère.

In terms of sound financial management, the fire protection agreement concluded with the Town of Blainville contributed substantially to the positive performance seen in the 2016 financial statements, which show savings of $1.1 million (including the sale of equipment. For further information on this subject, see the attached information sheet).

It should be recalled that these savings made it possible to establish, as of 2017, a recurring infrastructure fund that will enable the Town to ensure the sustainability of its infrastructures while alleviating the tax burden on future generations.

Other operating income

Apart from the fire safety file, under the heading of operating income, the favourable 2016 financial performance can be attributed to the real estate resale market, which generated an additional $247,000 in transfer taxes, along with some $162,000 in additional revenues from the disposal of other assets and $60,000 from the issuance of additional permits.

Operating expenses

Meanwhile, operating expenses were lower than projected. It should be noted that the Town also saved $600,000 on its share paid to the CITL (change in public transit governance).

Investments in the community

In 2016, approximately $3.5 million were invested mainly in the rehabilitation of infrastructures (particularly on Île-Bélair Street, Rosedale Street, etc.) and environmental protection, with the implementation of the organic waste pick-up. This $3.5 million figure also includes an investment of $280,000 in the Town’s parks and green spaces (replacement of the dock at Charbonneau Park, 5-year development plan for parks and green spaces, rehabilitation of the pavement at the library, etc.).

Stable level of community indebtedness

The Town’s indebtedness remains stable at $15.5 million. This is a healthy level, with this management indicator positioning Rosemère well on the municipal stage. It attests to the Town’s financial soundness and provides Rosemère with room to manoeuvre.

To consult financial statements, click here

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