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Ville de Gatineau
Speech on Gatineau's Financial Position: Preparing the Future
Gatineau, October 18, 2016. – Gatineau Mayor Maxime Pedneaud-Jobin this evening presented the overview of the 2016 financial position. This exercise is a statutory requirement under Quebec's Cities and Towns Act prior to the adoption of a new budget.
Financial position for 2016
Gatineau is continuing with the catch-up on its infrastructures through massive investments, essentially thanks to its dedicated tax. It has also tapped into different subsidies.
Gatineau is keeping a tight rein on its finances.
A surplus of between $5 and $6 million is projected for 2016, which again represents less than 1% of the municipal budget. That surplus is essentially due to: - higher than anticipated property taxes and transfer taxes; and - savings on debt repayment.
General orientation of the 2017 budget
For 2017, the priority is on pursuing efforts to tie the budget strategies to the Council Program adopted in 2014.
The review of expenditures and services is continuing with a view to keeping tax increases at a reasonable level.
Gatineau's debt is sound.
The debt represents only 12% of the total budget, compared to 23% in 2002.
“In preparing the 2016 budget, the goal was to remain in line with the financial framework and priorities that we had defined at the start of the mandate. This was followed by the smallest increase in expenditures in Gatineau's history. The Commission de révision des dépenses et des services got back to work, and we adopted a revenue diversification plan. As we begin developing the 2017 budget, the Council Program and the principles we identified remain fully relevant,” indicated Gatineau Mayor Maxime Pedneaud-Jobin.
“Gatineau's financial position clearly reflects the discipline and skill our teams have shown in managing public funds. Their work is solidly supported by the Commission de révision des dépenses et des services and the Comité du budget et des immobilisations. Thanks to their efforts, we have been able to maximize the use of public funds and to invest in services to residents,” added the Chairman of the Comité des immobilisations et du budget and Municipal Councillor, Denis Tassé.