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Each year, the Town shares a clear and detailed picture of its finances, covering the period from January 1 to December 31. In accordance with section 105.2.2 of the Cities and Towns Act, this report is presented at a public meeting held no later than June. These financial statements reflect the city’s commitment to responsible and transparent management of public funds. They support strategic planning, informed decision-making and the maintenance of quality municipal services.
2024 Report
Key components of financial statements
Revenue
Revenues refer to the money the city receives (municipal taxes, government subsidies, fees and permits, etc.).
Expenses
Expenses refer to the money spent on the Town’s general administration and public services (road maintenance, recreation, public safety, etc.).
Net income (surplus or deficit)
Net income refers to the difference between revenues and expenses. A surplus means that there are more revenues than expenses, and is a sign of good financial management. A deficit means there are more expenses than revenues, and requires a readjustment of finances.
Indebtedness
Indebtedness refers to the money borrowed by the city to finance projects such as infrastructure construction. A reasonable level of debt allows us to invest in development without compromising future finances.
Investments
Investments refer to projects financed to improve the city (new schools, parks, roads, etc.). Well-targeted investments contribute to citizens’ quality of life.
Assets
Assets refer to everything the town owns that has value (land, buildings, equipment, roads, etc.). A high number of assets means a good financial position to offer services and invest in the town’s development.
Liabilities
Liabilities refer to everything the Town has to pay or reimburse (debts, loans, obligations to suppliers, etc.). If liabilities are too high in relation to assets, this can put pressure on municipal finances and limit room for manoeuvre. A good balance with assets ensures sound management.
In brief
A well-structured financial report shows that the town has sufficient revenues, manages its expenditure well, avoids excessive debt and invests intelligently for the future.
Audit of financial statements
Every year, the city’s finances are examined by external auditors, who are independent experts. Their role is to ensure data accuracy and compliance with accounting standards.
The city then communicates the results to citizens and elected officials, notably at public information sessions. This approach strengthens transparency and confidence in municipal management.