2024 Financial Report Filing: The Ville de Vaudreuil-Dorion posts a surplus of $7.7 million

The treasurer and director of the Service des finances et de la trésorerie of the Ville de Vaudreuil-Dorion, Mr. Marco Pilon, FCPA, OMA, tabled the 2024 financial report at the regular City council meeting on September 15. This report was audited by the independent firm BCGO, represented by Ms. Jocelyne Poirier, CPA auditor.

Revenues from the City’s operating activities amounted to $114,495,532, while net expenditures and appropriations totaled $106,823,323, resulting in an operating surplus of $7,672,209.
“Revenues from transfer duties accelerated significantly in the second half of the fiscal year, with a few larger transactions. Interest income was also higher than expected, and a milder than usual winter season explains part of this surplus,” said Treasurer Marco Pilon.

As of December 31, 2024, the City’s accumulated unappropriated surplus stood at $9,478,294. “For a City with a budget exceeding $120 million, this surplus remains reasonable. The city council will be able to allocate part of it for specific purposes, such as emergency measures, and keep the rest to give itself some leeway to deal with any unforeseen events,” said Mayor Guy Pilon.

The financial statements as at December 31, 2024, included appropriated surpluses and reserved funds in the amount of $7,190,446, including $1,291,845 that was allocated to the 2024 budget, thereby reducing the tax burden on taxpayers. In addition, $2,087,064 is available for the improvement of parks and green spaces.

Prudent management in the face of growth

Long-term debt as at December 31, 2024, stood at $248,106,802, up 11.7% from December 31, 2023, and representing 3.1% of the taxable assessment of $8,130,902,400. The major investments made in recent years, combined with those to come, will enable the City to respond to the many challenges and opportunities associated with its sustained growth. The upcoming opening of the Vaudreuil-Soulanges hospital, for example, will generate new activity and increased vitality in the area.

In terms of debt, it should be noted that 56% is borne by all taxpayers, 35% by only a portion (local improvements, drinking water, and wastewater), while the balance corresponds mainly to amounts borrowed on behalf of the Quebec government.

The consolidated financial report as of December 31, 2024, and the treasurer’s presentation are available online.