Vaudreuil-Dorion’s 2014 financial report showcases solid fiscal footing
PHOTO BY JOHN JANTAK
Vaudreuil-Dorion Treasurer Marco Pilon delivers the city’s 2014 financial report the during the Monday evening council meeting.
The City of Vaudreuil-Dorion continues to maintain a healthy financial balance sheet after it announced that the total revenue that was projected when the city revealed its 2014 operating budget in December 2013 increased by 2.9 per cent. The total revenue collected in 2014 was $64,575,619, about $1.7 million more than expected. The increase was announced by the city’s Treasurer and Finance Director Marco Pilon during a presentation of its financial report for 2013 at the bimonthly council meeting on June 2. The 85 page report was completed by the independent chartered accounting firm of Goudreau-Poirier auditor and submitted to the provincial government as required by law.
While the amount is less than the $3 million the town collected in additional revenue in 2013, it shows that the city remains vigilant in making sure that it doesn’t overestimate its projected income when it prepares the next year’s operating budget in the fall, said Vaudreuil-Dorion Mayor Guy Pilon.
“We’re following the vision of our town and I’m very happy with the result,” Pilon told Your Local Journal. “We continue to increase the size of our city but we also maintain the level of service to our citizens. We always said we’re going to give our citizens the best service possible for the money we have. The good thing about city council is that we’re taxpayers too,” Pilon added.
“We have no intention of substantially increasing taxes in the city because it would mean we would increase our own bills too.” For Pilon, the surplus isn’t intended to be socked away as it grows in value. A portion of it is used to offset the cost of important annual infrastructure expenditures, such as the city’s new water filtration and sewage treatment facilities, and to ensure citizens aren’t burdened by substantial tax increases. The city’s current surplus is just under $4.8 million.
“We make the right choice by reinvesting part of our surplus every year for infrastructure,” said Pilon. “What we do is what every person tries to do when they manage their personal finances. When people have to redo their roof, sometimes they borrow the whole amount but others will save money and maybe take a smaller loan so they can pay the expenditure when it becomes due. “This is the way our municipal administration has been operating for almost 14 years now,” said Pilon.
“The good news is that we have some money on the side that can be used for infrastructure projects. The main thing for city council is that when we made our financial plan many years ago, we increased taxes each year minimally to make sure there would be no major increases when we have important projects due.” With the city meticulously planning its infrastructure work to make sure it’s not overextending itself financially with competing projects, Pilon said its next major venture will be to double the size of the city’s library.
The city is also looking into building a new city hall which will be a part of the project to revitalize Harwood Boulevard. Pilon said the project is currently in the planning stages and could take from two to four years before the project is realized. He added that having a dedicated city hall owned by the city will help it to save money by not having to pay for the current space it rents on the second floor of a mall. The complete financial report is available on the city’s website under the heading “Documents financiers” at http://www.ville.vaudreuil-dorion. qc.ca/la-ville/budgets-et-rapportsfinanciers.html.