Results filed for fiscal year 2015
Sound and skilled management of public funds
The Mayor of the City of Pointe-Claire, Morris Trudeau, was proud to announce the City’s sound and exemplary management of public funds as financial information for the fiscal year ending December 31, 2015 was filed.
“As usual, our public funds have been managed rigorously,” says Mayor Trudeau, who officially presented the financial statements at a Council meeting on Tuesday evening. “Fiscal year 2015 ended with total revenues of $134.7 million, nearly $2 million higher than in 2014.”
The new policy to pay cash for part of the debt and some capital investments, in place since 2013, continues to show results. “Over time, the effect is becoming increasingly positive, as we had planned, on our budget, our debt and our ability to do more by saving on borrowing costs,” notes the mayor. “On financing costs alone, we saved $700,000, the equivalent of the average property tax amounts for 207 homes.”
Pointe-Claire’s power of attraction, thanks to the quality of life and services it offers, continues to have a positive influence on the number of real estate transactions and the construction of new units. The strength of the real estate market led to 43% growth in transfer taxes, and this strength is expected to continue.
In 2015, the City also benefitted from a significant reduction in snow removal expenses because of the mild winter we experienced, saving nearly $800,000.
The City obtained a total of over $3 million in additional revenue from transfer taxes and the construction of new housing units and from saving on financing costs, paying for capital investments in cash, and benefitting from the positive adjustment of certain grants.
“This sound management enables us to respect taxpayers’ ability to pay, maintain assets for the benefit of all residents, provide a wide range of high-quality services, and plan future improvements,” concludes the mayor.
2015 financial report – for the year ended December 31 (French only)
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