Montréal’s 2021 Financial Reports
Despite the impact of the pandemic on its operational and financial activities, Montréal ended the year with a surplus. The city put in place measures to better support the population and to prepare for the future of the metropolis. Learn more about Montréal’s financial situation.
Montréal declared an unconsolidated surplus for tax purposes of $293.1 million from operating activities. Contributing to this net result was a surplus of $359.7 million for municipal responsibilities, comprising $108.6 million from the boroughs and $251.1 million from central departments. Also factored in was a deficit of $66.6 million on agglomeration responsibilities.
Origins of the surplus
This surplus is due in particular to the following elements:
- An overall increase in revenues of $146.3 million, mainly due to the strength of the real estate sector;
- An overall decrease of $94 million in operating and financing expenses, thanks to efforts made by the administrative units and the boroughs.
- An increase in internal allocations of $52.5 million, sourced primarily from previous years’ accumulated surpluses.
Sources of revenue, and Operating, financing and allocations expenses
Total revenues: $6,036.5 millio
Total operating, finance and allocations expenses: $5,743.4 million
Capital investment activities
Every year, Montréal invests to maintain, upgrade and modernize its infrastructure, buildings and facilities. After a radical slowdown on construction sites due to the impacts of the pandemic, investments are back on the rise in 2021. They totalled $1.5 billion, an increase of $113.9 million (8.1%) over 2020.
The main investments made in 2021 were related to:
- The environment and underground infrastructure ($608 million)
- Road infrastructure ($319.9 million)
- Buildings ($268.4 million)
- Parks, green spaces and playgrounds ($162.2 million)
Activities by asset class ($ millions)
Total amounts invested in 2021: $1,520.8 million