Montréal’s 2022 Financial Report
In spite of the continued impact of the pandemic on its activities, Montréal closed out the year with a surplus. The city supported its economic and cultural recovery, while developing structural projects to prepare for its future. Learn more about Montréal’s financial situation.
Operating activities
Operating activities include all the city’s current expenses.
For the year 2022, Montréal declared an unconsolidated surplus for tax purposes of $343.8 million from operating activities. Contributing to this result was a surplus of $165.3 million for municipal responsibilities, comprising $49.1 million from the boroughs and $116.2 million from central departments. Also factored in was a surplus of $178.5 million for agglomeration responsibilities.
Origins of the surplus
This surplus is due in particular to the following elements:
- An overall increase in revenues of $281.9 million, mainly due to various government transfers and to the resumption of activities.
- An increase of $99.6 million in operating and of $89.4 million in financial expenses.
- A decrease of $250.8 million in internal allocations, sourced from the repayment of the agglomeration deficit and previous years’ accumulated surpluses.
Source of revenues, and operating, financing and allocations expenses
Total revenues: $6,435.2 million
Total operating, finance and allocations expenses: $6,091.4 million
Capital investments and loan activities
Capital investments include all the investments that the city makes to maintain, upgrade and modernize its infrastructures, buildings, and sports and cultural facilities.
After a significant slowdown since 2020, the level of investment is close to what it was before the pandemic. In 2022, investments totalled $1.9 billion, an increase of $374.7 million (24.6%) compared to 2021.
The main investments made in 2022 were related to:
- The environment and underground infrastructure ($666.1 million).
- Road infrastructure ($549.9 million).
- Buildings ($311.2 million).
- Parks, green spaces and playgrounds ($176.3 million).
Activities by asset class (in millions of dollars)
Total sums invested in 2022: $1,895.5 million
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