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Châteauguay City Posts $1.65 Million Surplus

Photo of a Châteauguay street (Michael Normandin, vanguardnews)

The city of Châteauguay Quebec has announced that it earned a very nice amount of $1.65 million dollars in surplus. The surplus was for the ending year of December 31, 2016. The city also posted about the reduction of costs for people.

The city mentioned in a magazine publication that the large surplus of money is due to tight budgeting of their revenue.

The Mayoress of Châteauguay Nathalie Simon said: "We are very satisfied with these results. We managed to generate a considerable surplus despite a tight budget. The concerted efforts of elected officials and the municipal administration have borne fruit,"

These surpluses basically show that the city can handle a tight budget and can not overspend. They have generated a very good surplus and hopefully can continue to generate it in the future. A surplus now can help citizens down the line in case of issues that might arise.

"We remain steadfast and continue to be vigilant. We continue to invest in our infrastructure, including improvements to our roads and parks, and we continue to do our utmost to attract new residents and businesses to the industrial park." The Mayor continued.

These changes can help in the sections of future social benefits such as retiree insurance plan, and employer contributions to the pension plan.

The city of Châteauguay has taken many different types of actions to limit not only its debt but also to try good investments into infrastructure, rehabilitation of streets as well as the water lines.

The city invested in 2016 in several industries. Some of the areas that the city of Châteauguay invested in are upgrading infrastructure, rehabilitation of streets and water lines. The city had put a total of $24M to the upgrading of infrastructure, $14M to the value of allocated and unallocated surplus as of December 31, 2015, and $8M for rehabilitation of streets and water lines inside the city.

The city even reportedly has a total of $93M total incomes. Which is rather a lot and is in fact, can be good.

The city has taken considerable actions to reduce its debt. A strategy was implemented that is both designed to reduce debt and better predicting the medium of long-term impacts of debt on taxes. Debt for the city and debt for the government of Quebec as well as for specific residents of certain sectors declined around $1M when it was compared to the previous year 2015.

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