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.
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“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.