The City of Deux-Montagnes tabled its consolidated financial statements as of December 31, 2020, during the regular municipal council meeting last Thursday June 10th.
City representatives announced that in addition to reflecting a prudent and skillful management of public funds, the financial results for 2020 confirm the City’s proven capability to develop responsibly while ensuring diversified and quality services for all Deux-Montagnes residents. The redevelopment of certain neighbourhoods in the city is revitalizing them and at the same time increasing the tax base for the benefit of all citizens.
“Our financial performance demonstrates once again how rigorously our elected officials are managing public funds. The municipality’s general manager and treasurer also play a key role in achieving our organizational and financial objectives. I’m especially grateful for the work they do,” said Deux-Montagnes Mayor Denis Martin. “Sound financial management like this allows us to reinvest more in infrastructure and residential services. Many streets were repaved, and a new park has been built without having to mortgage the City’s fiscal future.”
Deux-Montagnes ended 2020 with an operating surplus of $1.4 million, representing 4.9% of its original budget. This surplus is largely due to a $1.3 million provincial COVID grant and a decrease of $200,000 in expenses and other fiscal items.
Of the $8.8 million in investments made in 2020, more than $4.5 million was dedicated to urban infrastructure (permanent dike, sewer and water system, Parc Armitage). The federal/provincial grant the city received for the permanent dike covers approximately 80% of its cost.
The financial statements for 2020 fiscal year are available on the Deux-Montagnes website.