2021 Financial Report – Exceptional revenues and repayment of the long-term debt
The mayor of the City of Pointe-Claire, Tim Thomas, at the regular meeting of City Council, yesterday tabled the results of the 2021 financial report of the municipal administration, which presents an exceptional surplus of $28.6 M.
This surplus is largely explained by additional revenues of $22.3 M, coming mainly from major transactions in the industrial park, which had an impact on transfer duties, tax revenues and construction permits.
“These additional revenues confirm the importance of the industrial park and the establishment of businesses attracted to its advantageous location due, in part, to the impending arrival of two REM stations. These additional revenues also include grants received, particularly for the development of the library collection and the management of residual materials, thanks to people’s good practices geared to source reduction and the proper sorting of materials,” Mayor Thomas pointed out.
The pandemic had an impact on revenues from culture, sports, leisure and community development activities, with a revenue reduction of $2.2 M due to cancellations, modifications or small group restrictions of activities to limit the propagation of the virus.
Regarding expenditures, responsible and rigorous management of resources realized $6.3 M in savings.
The majority of the surplus will be allocated to refinancing and repaying the long-term debt. A portion will also be used to upgrade our municipal buildings and for interventions against the emerald ash borer and its consequences for our urban canopy.
Despite the context of the pandemic, several projects were carried out in 2021, in addition to our regular operations, including in particular:
- The opening of the new Baie-de-Valois Nautical Centre with new docks and a new mooring system;
- The acquisition of the Olive-Urquhart Sports Centre;
- The installation of two refrigerated skating rinks and two ping pong tables in parks;
- Road and infrastructures work on 12 streets and in six parks;
- The creation of a Solidarity Orchard;
- A diversified program, including shows in the parks and near the balconies of certain residences, online or outdoor activities to favour participation; drive-in evenings; the installation of mini-libraries in six parks; the addition of a seed library; the creation of a mural by youth at the Central Library; and three art paths and a photo exhibition in Edgewater Park;
- The development of a cross-country ski trail and a winter hiking trail at the Beaconsfield Golf Club;
- The continued modernization of street lighting with an LED system;
- As well as the planned replacement of obsolete machinery and vehicles, required for maintenance of streets, parks and infrastructures, with more environmentally friendly equipment, whenever possible.
“I must emphasize the remarkable work accomplished by all City staff to obtain these results and achievements,” Mayor Thomas concluded.
Source: City of Pointe-Claire
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