Brossard has filed its financial statements for the year 2021. These showed a net operating surplus of some $17.7 million.
At this afternoon’s special meeting of the municipal council, Ville de Brossard tabled its financial statements for the year 2021. These showed a net operating surplus of some $17.7 million, due mainly to strong growth in the real estate market and rigorous expense management.
Higher revenues and lower expenses
Brossard reported an overall increase in revenues of $14.7 million. This increase was due to a higher number of transactions and an increase in the value of these real estate transactions, which raised $13 million more than anticipated.
On the expenditure side, the City recorded a decrease of $4.3 million. A large part of this amount is attributable to savings linked to remuneration and to the cancellation or postponement of activities, projects and programs in connection with compliance with the sanitary measures we applied.
Finally, debt levels were down $9.6 million on the previous year.
Major investments in parks, waterfront access and the environment, as well as tax relief
The surpluses generated will help the City to cope with rising inflation and to undertake projects that are eagerly awaited by the people of Brossard. More specifically, the amounts will be distributed as follows:
- 5 M to improve waterfront access ;
- 4 M in various environmental initiatives ;
- 3 M in park beautification ;
- 2 M for debt control ;
- 2 million to reduce the impact of inflation;
- 1 M in the future Bioparc ;
- 500 K operating improvements.
“I am delighted to announce the allocation of the majority of the operating surplus to projects designed to make Brossard a city where environmental initiatives are valued. We want our citizens to be proud of their city, not only because it is a major economic and commercial hub, but also because it is a city that is increasingly positioning itself as a green and environmentally conscious city,” emphasized Mayor Doreen Assaad.
“Rigorous management of our expenses and strong growth in transfer duties have contributed greatly to this operating surplus. We will also use these surpluses to continue to control our indebtedness and mitigate the impact of inflation,” said Finance Committee Chairman, Councillor Daniel Lucier.
Achievements for the benefit of all
In 2021, the city has invested $32.4 million to complete structuring projects that will provide it with quality infrastructure. In addition to continuing to invest in parks and green spaces, as well as its infrastructure rehabilitation program, the City will be carrying out a number of projects, including :
- the acquisition of land for future projects;
- rehabilitation of sewer and aqueduct systems on avenue Boniface;
- the installation of underground infrastructures at TOD Solar;
- replacement of the playgrounds at Parc Marin;
- the addition of water features to Olympia and Sorbonne parks;
- the planting of over 1,382 trees.
The 2021 financial statements are available at financial statements.
