The Municipalité des Coteaux recently presented its financial report for the year 2023. It shows a free accumulated surplus of $2,463,497 at December 31. 

Operating revenues amounted to $8,555,906, while expenses for all municipal services, including financial expenses and amortization of capital assets, totalled $8,744,677.

The financial statements show an operating surplus for tax purposes of $814,721. Taking into account the balance of unrestricted surplus for 2022, as well as operations for 2023, the free accumulated surplus as at December 31, 2023 is $2,463,497.

Main items affecting 2023 results:

- Accumulated surplus allocated to 2023 revenues, in line with budget forecasts ;

- Real estate transfer and permit fees higher than forecast;

- Interest income higher than forecast;

- Adjustment of SQ rebate for 2020;

- Several commitments in 2023 for which expenditures will be made in 2024;

- Unused reserved funds returned to reserve.

Major achievements in 2023 included the renovation of the Town Hall, the purchase of land and the start of planning work for the construction of the new fire station, the purchase of a pumper truck for the fire department, the conversion of our street lights to LED, the completion of work on the new water intake, the paving of Ranger Road, as well as repairs to the water supply system on Sauvé Street.

Long-term debt increased from $4,749,086 at December 31, 2022 to $5,843,451 at December 31, 2023, for a net increase of $1,094,365.

For 2022 (latest data available), the debt ratio was $1.09 per $100 of standardized property value. This compares with $1.52 per $100 of standardized property value for the average of towns and municipalities in the Vaudreuil-Soulanges MRC, and $2.02 per $100 of standardized property value for the Quebec average.

The report concludes that the Municipality of Les Coteaux is in an excellent position in view of the major investments required over the next few years to upgrade its infrastructure and maintain its assets.