Montréal’s 2024 Financial Report
In the current context of inflation and economic stabilization, the city ends the year with a surplus. Montreal has continued its efforts to provide services that meet the needs of the population, while developing sustainable and inclusive living environments. Discover its 2024 Financial Report.
Operating activities
Operating activities include all the city’s current expenses.
For the year 2024, Montréal declared an unconsolidated surplus for tax purposes of $176.8 million from operating activities. Contributing to this result was a surplus of $195.8 million for municipal responsibilities, comprising $36.5 million from the boroughs and $159.3 million from central departments. Also factored in was a deficit of $19.1 million for agglomeration responsibilities.
Origins of the surplus
The main elements and variations that have yielded this surplus are:
- Additional revenues of $248.4 million, namely resulting from an increase in property taxes, transfer taxes, as well as intergovernmental transfers.
- An increase of $108.7 million in operation costs namely related to contributions paid to organizations and workforce compensation.
- A reduction of $240.7 million in borrowing costs, namely related to a lower borrowing amount and financing negotiated at rates lower than expected.
- A variation of $203.7 million in allocations to fund capital works investments, and the increase of certain essential expenditures such as fuel, vehicle maintenance, as well as various direct services to the population provided by boroughs.
Source of revenues, and operating, financing and allocations expenses
Total revenues: $7,152.7 million
Total operating, finance and allocations expenses: $6,975.9 million
Capital investments and loan activities
Capital investments include all the investments that the city makes to maintain, upgrade, modernize and develop its infrastructures, buildings, and sports and cultural facilities.
In 2024, the amounts invested across the territory of Montréal totalled $1.9 billion, which represents a reduction of $56.7 million (2.9%) as compared to 2023. The city’s central departments have contributed $1.7 billion, while boroughs contributed an amount of $168.0 million.
The main investments made in 2024 were related to:
- The environment and underground infrastructure ($642.0 million).
- Road infrastructure ($459.6 million).
- Buildings ($330.0 million).
- Parks, green spaces and playgrounds ($261.2 million).
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