The treasurer and director of the Finance and Treasury Department of the City of Vaudreuil-Dorion, Marco Pilon, FCPA, OMA, tabled the 2023 financial report during the regular meeting of the municipal council on June 17.

This makes it a tax surplus of $4,707,305 Summary, revenues from the City's operating activities amounted to $103,053,972, while net expenses and allocations totaled $98,346,667.

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

The City's unallocated accumulated surplus as of December 31, 2023 amounted to $8,914,479. “The municipal council will shortly consider the use of this surplus which may be available, in part, for the preparation of the next five-year capital plan while retaining an amount in reserve to deal with various unforeseen events,” he said. Mayor Guy Pilon.

The financial statements of December 31, 2023 included allocated surpluses and reserved funds in the amount of $4,189,315, including an amount of $1,681,410, which was allocated to the 2024 budget, thereby reducing the tax burden on taxpayers.

Also, an amount of $2,086,563 is available to invest in parks and green spaces. Long-term debt as of December 31, 2023 reached $223,081,000, up 11% from December 31, 2022 and representing 2.8% of the taxable valuation of $7,980,485,700, which is very acceptable for a developing city like Vaudreuil-Dorion.

Some 49% of this debt belongs to all taxpayers, 43% to only part (local improvements, drinking water and wastewater) and the balance mainly represents sums borrowed on behalf of the government of Quebec.

The consolidated financial report as of December 31, 2023 as well as the presentation made by the treasurer are available on the City's website at ville.vaudreuil-dorion.qc.ca.

The financial report was audited by the independent firm BCGO, represented by Ms. Jocelyne Poirier, CPA auditor.