Gatineau, October 1, 2013. – Gatineau Mayor Marc Bureau took the opportunity provided by the last session of the current Municipal Council to address the city's financial position for this fiscal year, in accordance with Quebec's Cities and Towns Act.

In 2013, the Municipal Council focused on three main issues: services for the public, investments in infrastructures, and sustainable development and environmental protection.

"Once again, Gatineau is in a very sound financial situation. In accordance with residents' wishes, we are continuing to make massive investments in our infrastructures. In total, these investments have tripled, from $204 million between 2002 and 2005 to $621 million between 2010 and 2013. These investments have enabled us to maintain high quality services for residents," indicated Mayor Bureau.

With three months to go until the end of this fiscal year, Gatineau is expecting a net surplus of $3.9 million, in large part due to higher than expected land transfer tax revenues, lower debt servicing costs, and rigorous management of public monies.

On April 23, 2013, Gatineau Municipal Council approved the city's 2012 financial statements. These indicated a $26,782,000 surplus at December 31, 2012. Naturally, Gatineau set aside the amount required for reserves in accordance with the budget or policies in effect, contractual agreements, and projects under way.

With these covered, Gatineau's net surplus comes to $6,770,000. For a seventh consecutive year, Gatineau did not use any of the surplus for the 2013 budget. This is a principle of sound financial management. This net surplus will be used to fund major projects.

For additional information, refer to the complete version of the speech on Gatineau's financial position at www.gatineau.ca.