Financial Profile

Mayor’s report on the financial situation of the municipality

In compliance with Section 474.1 of the Cities and Towns Act, it gives me great pleasure to report on the financial position of the Town of Kirkland. 

 

Financial results as at December 31, 2016

The financial statements have been audited by the accounting firm of Goudreau Poirier Inc., who confirmed that they portray a true picture of the financial situation of the municipality for the fiscal year ended December 31, 2016, and reflect accurate results of the operations, variation of net financial assets (net debt) and cash flow for the year then ended, in accordance with Canadian accounting standards for the public sector.

For the year 2016, the operating expenditures amounted to $57,683,000 on a budget of $58,195,000, while actual revenues from all sources totaled $59,842,000. The Town therefore ended the year 2016 with a surplus of $2,159,000 mainly arising from business and transfer taxes and from government subsidies.

 

Three-Year Capital Expenditure Program for 2016-2017-2018

Capital projects totaling $4,990,000 were completed in 2016, including:

  • Reconstruction of the road infrastructure on Gervais, Rondeau, Sphinx, Ramses II, Reginald-Brown, Niagara and Beacon Streets;
  • Replacement of street lights and lamp posts with LED lights ;
  • Rehabilitation of Terry-Fox and Paiement Parks;
  • Repaving of park pathways and reconstruction of playground surfaces;
  • Construction of a new pumping station on Hymus Boulevard to replace the existing facility.

 

Major Capital Works and Special projects for 2017

Major capital works and special projects for 2017 include:

  • Reconstruction of the road infrastructure on Argyle, Mountainview, Evans and Van Every Streets, as well as on Kirkland Boulevard south and Brunswick Boulevard East, phase 1, as part of the annual street repaving program
  • Repaving of park walkways, rehabilitation of playground areas and installation of cedar fibre;
  • Reconstruction of the tennis and basketball courts at Ecclestone and Kirkland Parks;
  • Reconstruction of the synthetic playing field at des Bénévoles Park;
  • Modernization of the Sports Complex and Arena facilities;
  • Rehabilitation of a water main by structural lining.

 

Preliminary information regarding the financial statements for the current year

The Town’s 2017 budget shows revenues and expenditures of $57,890,000 including an amount of $29,916,000 forming the municipality’s share for agglomeration services.  Based on results as at September 30, 2017, actual revenues and expenditures are expected to remain within the authorized budget.

 

Remuneration and expense allowance of the members of Council

For the 2016 fiscal year, as Mayor of the Town of Kirkland, I received from the municipality $47,857 in remuneration and $16,206 in expense allowance, as well as $28,284 from the Agglomeration of Montreal for sitting on its Council and serving as vice-chairman on various commissions.  For their part, each of the eight members of Council received from the municipality $16,824 in remuneration and $8,412 in expense allowance.

All above-mentioned amounts were paid in accordance with an Act Respecting the Remuneration of Elected Officials, (R.S.Q., c.T-11.001).

 

General orientation of the 2018 budget and the 2018-2019-2020 Capital Expenditure Program

The management team is currently working on the town’s operating budget, in preparation for adoption by Council. In keeping with our continuous improvement program and cost-effective approach, we will be pursuing our annual programs for street repaving and infrastructure maintenance, as well as for the replacement of street lights and lamp posts with LED lights.

In closing, I invite all interested parties to attend a special sitting of Council to be held on Monday, December 11, 2017 at 7:00 p.m.  This sitting will be devoted exclusively to the 2018 budget of the Town and the Three-Year Capital Expenditure Program for the years 2018, 2019 and 2020.    

And I have signed in Kirkland, this 2nd day of October, 2017.  

 

 

Michel Gibson
Mayor of the Town of Kirkland