As stipulated in Section 176.2.2 of the Code Municipale du Québec, the Mayor presents the highlights of the financial report and the auditor’s report for the 2021 fiscal year, as audited by the accounting firm Amyot Gélinas.
In this regards, the Mayor confirms that the Municipalité d’Ivry-sur-le-Lac ended the year 2021 with excellent financial results. There are operating revenues of $2,488,711, operating expenses of $2,131,017, reconciling items for tax purposes of $52,178 to end with the budget surplus of $305,516 for the year 2021.
It must be considered that the Municipalité d’Ivry-sur-le-Lac has unavoidable obligations and non-discussable quotas, such as:
- RCM’s share;
- Sûreté du Québec;
- Residual waste management;
- Long-term debt management;
- Public works and snow removal management;
- Salaries of employees and elected officials.
The balance of the unrestricted operating surplus as of December 31st, 2021 is $1,029,551.
The Municipality’s external auditors have audited the Municipality’s consolidated financial statements. In their opinion, with the exception of the fact that the Municipality accounts for its grant revenues in accordance with the position prescribed by the Government of Quebec as recommended by the MAMH, and that they are of the opinion that this approach undervalues the grants receivable in the Municipality’s statement of financial position, the consolidated financial statements give, in all material respects, a true and fair view of the Municipality’s financial position as at December 31, 2021, and of the results of its operations, changes in its net financial assets (net debt) and its cash flows for the year then ended, in accordance with Canadian public sector accounting standards.
In conclusion, the financial report, as of December 31st, 2020, shows that Ivry-sur-le-Lac is in very good financial health.
Summary of Consolidated Financial Information – Year Ended December 31st, 2021