2023

Lorraine Achieves Budget Surplus of $840,846 for 2023

Lorraine Achieves Budget Surplus of $840,846 for 2023

During the municipal council meeting , Mayor Jean Comtois presented the financial highlights of the City of Lorraine for the year 2023. The city ended the fiscal year with a surplus of $840,846. This positive financial outcome is attributed to careful and rigorous management of public finances, alongside effective fund management, which helped the city maintain a strong financial position despite fluctuating interest rates, a slowdown in the real estate market, and economic uncertainties.

Public awareness campaigns aimed at optimizing waste sorting and changing practices have proven beneficial for both the environment and public funds. The surplus in 2023 is the result of several factors, including savings from the purchase of potable water and a reduction in the volume of waste sent to landfills, leading to higher grant revenues. Additionally, higher-than-expected revenues were generated from high interest rates and property transfer duties.

“At all times, we strive for solid financial stability while continuing to invest in projects that benefit our community and maximize grant applications to finance these projects. Quality of life, safety, and service to our population remain at the heart of our concerns. Lorraine is attractive, and its quality of life is highly valued. We work diligently to maintain our enviable status and attract families to settle here,” stated Mayor Jean Comtois.

Investments for the Community

In 2023, several key projects were undertaken to improve the territory, access to services, and environmental preservation. These included the installation of signage and the securing of pedestrian paths near three primary schools, as well as snow removal from trails to promote safe and active transportation. Other achievements include the development of an outdoor space near the library, the renovation of tennis courts, and the construction of four pickleball courts at Lorraine Park, along with the organization of new family events.

Significant infrastructure work was also carried out, such as replacing water and sewer pipes on Avenue de Metz and developing street infrastructure in phase 2 of the Châteaux de Brisach estate. New horticultural arrangements were implemented in several public places, and environmental awareness activities were conducted to encourage citizen involvement and promote biodiversity.

Looking Towards a Promising Future

The municipal council focuses on quality of life, safety, and service to the population while ensuring healthy and sustainable public finances for the well-being of the entire community. In this context, the council plans to continue its efforts to secure funding for the polydome, a major sports and recreational infrastructure project at Lorraine Park, submitted under the Financial Assistance Program for Recreational, Sports, and Outdoor Infrastructure (PAFIRSPA).

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Rosemère Tables Its Financial Report for 2023

Rosemère Tables Its Financial Report for 2023

Maria Diamantis-LJI Journalist

The Town of Rosemère has released its annual financial statements for the fiscal year ending December 31, 2023, as per the Cities and Towns Act. The financial report was presented at the council meeting on May 13, 2024, revealing an operating surplus of $441,800.
Mayor Eric Westram emphasized the town’s commitment to resource optimization and fiscal responsibility. “The optimal allocation of financial resources is, as always, a top priority for the Town’s administration. We are meeting the needs of our community while striving to keep things affordable for our taxpayers as we evolve,” stated Mayor Westram. The financial report was audited by BCGO accounting firm, which issued an unqualified audit report.
Operating Revenues and Expenses
In 2023, Rosemère’s operating revenues amounted to $36,060,400, which exceeded the budgeted amount by $594,100. This increase was mainly due to higher-than-expected proceeds from the transfer tax. Operating expenses totaled $36,563,100, reflecting savings of $986,100, or 2.4% of the operating budget. A significant portion of these savings resulted from deferring the replacement of granular activated carbon in the water treatment plant to 2024, based on the year’s analysis.
The allocations from the Town’s funds and financial reserves were reduced by $1,138,400 in alignment with the expenditure savings, bringing the total to $944,500.
Capital Investments and Debt
Rosemère invested $10,338,400 in capital projects during 2023, with 67% allocated to the rehabilitation of water, sewer, and road infrastructure. Notably, 57% of these investments were financed through third-party contributions or grants.
As of December 31, 2023, the Town’s long-term debt, inclusive of the special infrastructure tax, stood at $26.8 million. The debt situation remains stable and is considered favorable.

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