JOHN JANTAK
The 1019 Report

The city of Vaudreuil-Dorion posted a $4.7-million budget surplus for 2023, bringing its accumulated surplus to just under $9 million, according to its financial report unveiled last month.

The report, approved by the city’s municipal council on June 17, provides a detailed overview of the city’s fiscal performance in the last year.

According to the figures, the city posted total revenues for 2023 of $103,053,972, while all expenses totalled $98,346,667, leaving a surplus of  $4,707,305.

“The slowdown in the real estate market in 2023 was reflected in transfer tax revenues falling compared to the budget,” said city treasurer Marco Pilon in his presentation to council. “On the other hand, higher interest rates generated increased interest income, which helped to compensate.”

The city’s unallocated accumulated surplus as of Dec. 31, 2023, amounted to $8,914,479.

“City council will meet shortly to consider how best to apply this surplus, which could be made available, in part, for the preparation of the next five-year capital plan while setting aside an amount to deal with various unforeseen events,” said Mayor Guy Pilon in a statement. 

In addition to the unallocated surplus, the city also controls allocated surpluses and reserved funds totalling $4.19 million. Of that sum, $1.68 million has been assigned to the city’s 2024 budget in an effort to reduce the tax burden on taxpayers.

An additional amount of $2.09 million of the allocated surplus funds will be invested in parks and green spaces, the city stated.

The municipality’s long-term debt as of Dec. 31, 2023, hit $223 million, up 11 per cent from the previous year. The current figure represents 2.8 per cent of the city’s taxable valuation of $7.98 billion, which, falls within the acceptable range set by the provincial government for a developing city like Vaudreuil-Dorion, municipal officials stated.

About half of the city’s debt is carried by all taxpayers in the city, while 43 per cent is attributed to local improvements and specific infrastructure projects, therefore, attributed to the property owners who benefit from these services. The remaining debt mainly represents sums borrowed on behalf of the government of Quebec.