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2020 Financial Report: Operational savings, exceptional revenues and repayment of long-term debt

The Mayor of the City of Pointe-Claire, John Belvedere, tabled the results of the municipal administration’s 2020 financial report yesterday at a public Council meeting, which shows an exceptional surplus of $22.9 million.

“The year 2020 was a challenge due to the constraints caused by the pandemic. While continuing to prioritize the effectiveness and efficiency of our daily operations and the quality of our services for the benefit of all our citizens, we had to adapt our services, the planning of our culture, sports and leisure activities, our major special and community events, as well as the organization of our employees’ work,” Mayor John Belvedere said.

Responsible and strict resource management resulted in savings of $11.3 million. The surplus for the year 2020 is also explained by additional revenues of $11.6 million, mainly from transfer taxes and taxes collected on new properties, as well as financial assistance from the Québec government to support the amounts payable to the agglomeration of Montréal for 2021 in relation to the pandemic.

“The years 2019 and 2020 were characterized by a record number of real estate transactions in the industrial park and in the residential sector, which generated an exceptional amount of transfer taxes. This once again confirms the strong interest in Pointe-Claire, particularly for its quality of life, range of services available to the population and strategic location,” Mr. Belvedere added.

Most of the surplus will be used to refinance and repay long-term debt. A portion of the surplus will also be used to upgrade our municipal buildings as well as continue our actions to fight the emerald ash borer and its impacts on our urban canopy.

Despite the difficult circumstances brought on by the pandemic, we were able to carry out several planned projects in addition to providing quality services in our regular operations, including the construction of the new Baie-de-Valois chalet; the completion and inauguration of Tony-Proudfoot Park; the acquisition of a new municipal lot in the Pointe-Claire Village; road and infrastructure work on 14 streets; improvements to seven parks; the replacement of street lights with an LED system on the south service road of the Trans-Canada Highway; repairs and improvements to various municipal buildings; and the planned replacement of outdated machinery parts and vehicles with more environmentally friendly equipment, where possible.

“Our administrative rigour enables us to guarantee a pleasant, quality and safe living environment for all our citizens, with an offer and range of public services, despite the pandemic. I would like to underscore the remarkable work accomplished by all the staff to obtain these results and thank the citizens for their patience and their confidence during these exceptional times that we are all experiencing,” Mayor Belvedere concluded.