At its council meeting on June 9, the Town of Rosemère formally presented its financial statements for the year ending December 31, 2024. The report, submitted in accordance with the Cities and Towns Act, confirms a budget surplus of $1,314,300.
The statements, which were audited by the accounting firm BCGO, received an unqualified opinion—indicating the financial disclosures present a fair and accurate picture of the municipality’s finances.
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“Our administration remains committed to sound financial management,” said Mayor Eric Westram in a statement accompanying the release. “We continue to weigh community needs against the financial realities facing our residents.”
Revenues and Cost Management
The Town’s operating revenues for 2024 reached $39.4 million, exceeding the initial budget by $900,000. Much of the unexpected revenue came from higher-than-anticipated proceeds from the transfer tax.
Operating expenses totaled $38.4 million, coming in $1.1 million under budget. Savings were attributed to deferred projects and operational delays. In particular, the postponement of certain infrastructure initiatives and the delayed replacement of activated carbon at the water treatment plant led to cost deferrals amounting to $472,300. These funds will be applied to the 2025 budget.
Allocations from the Town’s funds and reserves were also adjusted downward by $700,000, reflecting the reduced expenditure levels.
Infrastructure Investment and Debt Profile
Capital investments for the year amounted to $3.7 million, with the bulk directed toward infrastructure improvements. However, this figure was lower than projected due to the postponement of some projects that lacked required funding.
As of year-end 2024, Rosemère’s long-term debt stood at $34.6 million. However, an infrastructure tax implemented in 2020 will help offset $13 million of that total. The remainder is supported through general property taxes.
According to the Town, its debt ratio remains significantly below that of the broader MRC de Thérèse-De Blainville region, at 1.4 times less than the average, placing Rosemère in what it described as a “relatively stable and enviable” financial position.
Surplus Allocation
Of the total surplus, $472,300 has already been earmarked for 2025 expenditures. The Town will allocate another $500,000 equally between its expense stabilization fund and infrastructure fund. The remaining surplus is being retained to bolster financial flexibility and provide a buffer for future contingencies.
The full financial report is available through the Town of Rosemère’s official channels.
