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, 2015

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, 2015, 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 2015, the operating expenditures amounted to $57,036,000 on a budget of $57,622,000, while actual revenues from all sources totaled $58,765,000. The Town therefore ended the year 2015 with a surplus of $1,729,000 mainly arising from business and transfer taxes and from government subsidies.

Three-Year Capital Expenditure Program for 2015-2016-2017

Capital projects totaling $4,371,000 were completed in 2015, including:

  • Reconstruction of infrastructures and various road work on Dufour, Marie-Curie, Timberlea-Trail, Du Ruisseau and Henri-Daoust Streets, as well as on place Terry-Fox ;
  • Replacement of street lights and lamp posts with LED lights on the south side of the service road between chemin Saint-Marie and Mountainview Street;
  • Rehabilitation of the baseball field lighting systems at Meades Park;
  • Purchase of a backhoe-loader and other heavy equipment;
  • Repaving of park pathways and reconstruction of playground surfaces;
  • Replacement of traffic and pedestrian lights on Saint-Charles Boulevard and conversion to LED lighting.

Major Capital Works and Special projects for 2016

Major capital works and special projects for 2016 include:

  • Reconstruction of the road infrastructure (foundation, paving, street curbs and street lighting) on Gervais, Rondeau, Sphinx, Ramses II, Reginald-Brown, Niagara and on Beacon;
  • Repaving of park walkways, rehabilitation of playground areas and installation of cedar fibre;
  • Construction of a new pumping station to replace the existing station at Hymus Boulevard;
  • Creation of new landscaping designs for garden islands and city entrances;
  • Construction of a multipurpose mini-chalet at des Bénévoles Park;
  • Purchase of vehicles, equipment and machinery.

Preliminary information regarding the financial statements for the current year

The Town’s 2016 budget shows revenues and expenditures of $58,195,000 including an amount of $29,843,380 forming the municipality’s share for agglomeration services.  Based on results as at October 31, 2016, actual revenues and expenditures are expected to remain within the authorized budget.

 

Remuneration and expense allowance of the members of Council

For the 2015 fiscal year, as Mayor of the Town of Kirkland, I received from the municipality $47,177 in remuneration and $15,976 in expense allowance, as well as $19,753 from the Agglomeration Council of Montreal.  For their part, each of the eight members of Council received from the municipality $16,585 in remuneration and $8,292 in expense allowance.  All these amounts were paid in accordance with an Act Respecting the Remuneration of Elected Officials, (R.S.Q., c.T-11.001).

List of contracts

In compliance with the Cities and Towns Act, at the present sitting of November 7, 2016, I am tabling an updated list of all contracts involving an expenditure exceeding $25,000 entered into by the municipality between October 24, 2015 and October 28, 2016.  Said list also includes all expenditures exceeding $2,000 incurred over the same period with the same contracting party, where the sum of all such expenditures exceeds $25,000.

General orientation of the 2017 budget and the 2017-2018-2019 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 street repaving and infrastructure maintenance program, as well as the conversion of our street lights to LED.

In closing, I invite all interested parties to attend a special sitting of Council to be held on Monday, December 12, 2016 at 7:00 p.m.  This sitting will be devoted exclusively to the 2017 budget of the Town and the Three-Year Capital Expenditure Program for the years 2017, 2018 and 2019.    

And I have signed in Kirkland, this 7th day of November, 2016. 

 

Michel Gibson
Mayor of the Town of Kirkland