Council of mayors approve audited financial statements for 2023

Council of mayors approve audited financial statements for 2023

At the MRC Pontiac council of mayors meeting on April 17, the mayors received a detailed breakdown of the 2023 audited financial statements for both the TNO and the MRC, presented by auditor Simon Thibault, whose analysis was translated by MRC accountant Annie Vaillancourt.

TNO

Vaillancourt explained that for the period covered by this statement, the TNO had a surplus of $109,109. She explained that the accumulated surplus for the TNO was roughly $800,000, which is equivalent to the average annual revenues for the jurisdiction. According to Thibault, this ratio is recommended for TNOs across Quebec.

MRC

Vaillancourt said that the transfer revenues and interest collected in 2023 were much higher than had been budgeted, however, the transfer revenue is “in and out” meaning that revenues and expenses always match up exactly.

Vaillancourt explained that a large portion of the 2023 surplus (roughly $400,000) was due to salaries that were budgeted but not paid, as the positions weren’t filled for various reasons. According to Thibault, the recommended ratio for an accumulated surplus for municipalities or MRCs is between 15% and 20% of budgeted revenues, and Pontiac’s currently sits at 13%.

The full audited financial statements (French only) are available here: États financiers audités TNO 2023 États financiers audités MRC 2023