Montréal's 2020 Annual Financial Report
Want to learn more about Montréal’s financial results for the year 2020? Want to know what the city’s main achievements were? View the details in its Financial Report.
In spite of difficult circumstances, the municipal administration was able to adapt and come up with solutions in support of residents, while practicing responsible management of the city’s public finances. The city also implemented significant measures to prepare for its recovery and its future.
Operating activities
Montréal posted a non-consolidated operating surplus for tax purposes of $247.0 million during the year 2020. This result can be attributed to a surplus of $442.6 million for local responsibilities, including $92.5 million for boroughs and $350.1 million for central departments. It also includes a deficit of $195.6 million for agglomeration responsibilities.
Allocation of non-consolidated operating surplus for tax purposes
This surplus can be attributed mainly to the following factors:
A decrease of $60.8 million in operating expenditures.
An increase of $156.0 million in revenues.
The use of $33.9 million in accumulated surpluses, at the level of local and corporate responsibilities, and in the boroughs.
An increase of $3.7 million for debt repayments.
Montréal has laid out a plan to reduce expenses by $123.3 million in order to compensate for the additional costs and the decrease in revenues brought about by the pandemic. The city has also received $263.5 million in assistance and financial compensation from the government of Quebec for the years 2020 and 2021. Without these two measures, which allowed the city to reduce its operating expenditures and increase its revenues, Montréal would have posted a non-consolidated operating deficit for tax purposes of $139.8 million for 2020.
Source of revenues, expenditures for tax purposes, financing and allocations
Total revenues: $6,131.1 million
Total operating expenditures for tax purposes, financing and allocations: $5,884.1 million
Capital investing activities
Each year, Montréal invests in maintaining, upgrading or modernizing its infrastructures, buildings and facilities. In order to deal with the aging of these infrastructures, buildings and facilities, the city almost doubled its investments between 2015 and 2019, from $0.9 billion to $1.8 billion.
In 2020, these investments totalled $1.4 billion, a decrease of $415.9 million (22.8%) compared to 2019. This decrease can be attributed mainly to the impact of the pandemic on construction sites.
The main investments made in 2020 related to:
The environment and underground infrastructures ($532.9 million).
Road infrastructures ($385.9 million).
Buildings ($208.3 million).
Parks, green spaces and playing fields ($131.3 million).
Achievements by asset categories (in millions of dollars)
Total sums invested in 2020: $1,406.9 million
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