Home | Contacts | Classifieds | Archives | Media Kit | Email Us |
With voters scheduled to head to the polls in less than six months, elected officials in Rosemere last week tabled a financial report with a fiscal surplus that is almost certain to pay off at the ballot box on election day. During a press briefing held on May 11 prior to the town’s regular council meeting, the councillors and mayor reported a consolidated surplus of $1,161,360 up to Dec. 31 2008, which Mayor Hélène Daneault said was source of “great pride.”
Five-year plan
The surplus is not much different than in previous years (last year’s was about $1.7 million), but if anything it demonstrates the consistency of the Daneault administration in being able to follow through on a long-term plan. They had launched a five-year savings plan in 2007. It ends in fiscal 2011, two years into the next electoral mandate.
Asked how they are able to end up with a surplus despite the economic constraints that have beset almost everyone, Daneault said, “I think it’s team work with all the employees. We did a plan five years ago to see what we could do in each service to optimize what we spend every year. So it’s the result of that plan, and the collaboration also of all the services.”
Cuts not necessary – Daneault
According to Daneault, the goal was met without wholesale cuts to services or jobs, although there was postponement of some projects, and taxes were kept at the cost-of-living level at the same time. “It was a question of certain controls and costs,” said Councillor Louise Desjardins, the financial expert on council.
“If you know that you do certain projects and the cost increases by five per cent, you react by doing something else to achieve the same goal. By having the tools in place, we have the instruments. Eight area directors tried to meet the goals by a certain time. That’s how we were able to achieve and reduce costs. But we cut almost nothing.”
Revenues beat forecast
According to Desjardins, the surplus was the result of revenues that were higher than forecast. She said Rosemere’s close management of its expenses last year resulted in $78,700 in savings. She noted that the results were achieved despite the harsh winter of 2008, which cost Rosemere an additional $420,300 for snow removal and other related expenses. The town intends to use the surplus to reimburse its debts, to improve services and to pay cash for capital works projects.
Also with regards to Rosemere’s finances, Desjardins said council made important investments in infrastructure upgrades, totaling $2,880,146. Among the projects were the installation of a secondary water intake, the refurbishment of the aquaduct system under several streets, the installation of new aquaduct and sewer pipes in new sectors of the town, the acquisition of new equipment for some parks, the creation of three new tennis courts in Hamilton Park, installation and maintenance of Rosemere’s section of the Route Verte bicycle pathway, and the construction of a pedestrian overpass at the Tylee Marsh.
Debt also down
“The state of our finances also confirm that we pursued the lowering of our debt, in conformity with stage one of our strategic plan of 2005,” Desjardins said, noting that Rosemere’s debt has gone from $25,568,548 at the end of 2005 to $23,610,397 at the end of 2008, for a reduction of 7.65 per cent in three years. The ratio of long term debt, in comparison to the total of value of property, has also gone down to 33.71 per cent in 2008, compared to 40.78 per cent in 2005.
Daneault said the financial results are consistent with what her administration had pledged. “They reflect good management, with control of expenses and investments,” she said. “They also show that revenues coming from taxes are being invested very carefully and with insight. Our five-year financial plan, adopted in 2007, encourages this excellent performance.”
BACK