Financial Profile

Mayor’s report on the financial situation of the municipality

In compliance with the Cities and Towns Act, I am pleased to report on the financial position of the Town of Kirkland.  

Financial results as at December 31, 2020

The financial statements have been audited by the accounting firm of BCGO, who confirmed that they provide a true picture of the financial situation of the municipality for the fiscal year ended December 31, 2020, 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.  The 2020 financial report was tabled at the Council sitting of May 3, 2021, along with the unqualified reports of the external auditor.

For the year 2020, revenues from the municipality’s financial activities amounted to $64,656,000 while expenditures and net appropriations totaled $57,611,000. The Town therefore ended the year 2020 with a surplus of $7,045,000 arising mainly from financial assistance granted by the Ministry of Municipal Affairs and Housing in the context of the COVID-19 pandemic, compensation for expropriated assets as part of the REM public transit project, as well as from business and transfer taxes and government subsidies.

In addition, as a result of the pandemic, the Town’s operational charges were reduced due to the postponement of certain projects and slower overall operations and activities, in particular at the Recreation Department.  

Major Capital Works and Special Projects

In 2020, investment projects totaling $5,837,300 were completed, including:

  • Reconstruction of the road infrastructure on Denault, Hazelnut, Fiddler’s-Green Harold and Summerhill Streets, as part of the annual street repaving program;
  • Rehabilitation of the lighting system at Holleuffer Park;
  • Purchase of a 10-wheel truck and asphalt dump box;
  • Purchase of gas-fueled and electric vehicles;
  • Purchase of street lamp poles;
  • Installation of electric charging stations;
  • Updating of IT infrastructure.

And I have signed in Kirkland, this 7th day of June, 2021.

Michel Gibson
Mayor of the Town of Kirkland