In my opinion, the presentation of the municipality’s financial statements is one of the most important opportunities of the year for residents to engage with their municipal administration.
Municipal newsletter inviting residents to the presentation.
It is important to understand that financial statements are the municipality’s most comprehensive accountability document. They provide insight into how our elected officials and municipal administration have managed public finances and spent our tax dollars.
They also help us better understand the financial health of our village, particularly the evolution of our municipal debt.
A debt we would like to see disappear!
North Hatley is still carrying debt, and as taxpayers, we naturally want to see that debt decrease until it is fully repaid.
According to the 2026 municipal budget, taxes associated with borrowing bylaws alone account for $0.2531 per $100 of property assessment, out of a total general property tax rate of $0.7132, excluding other applicable fees and charges.
That is a considerable amount!
In my opinion, reducing this financial burden should be an important objective for our municipal administration.
Furthermore, when such a significant portion of our property tax bill is allocated to borrowing bylaws, it is entirely reasonable to want to understand how that money is being used, how much goes toward repaying the principal, and how much covers interest payments.
And most importantly, when can we expect to see this charge decrease, or perhaps even disappear from our property tax bills?
Three consecutive years of late financial statement submissions?
Did you know that the law requires municipalities to submit their financial report and external auditor’s report to the Ministère des Affaires municipales et de l’Habitation (MAMH) no later than June 30 of each year, following their submission to municipal council?
As of today, October 1, 2026, no 2025 financial report is available.
This is not a suggestion. It is a legal obligation under Section 176.2 of Quebec’s Municipal Code.
Based on the presentation dates of previous years, North Hatley now appears to be heading toward a third consecutive year of late reporting. It would be worthwhile to confirm the official submission dates to the Ministry for each of those years.
Why submit one of the most important documents of the year for taxpayers so late?
When it comes to transparency and accountability, I believe it is essential that residents have access to this information within the legally prescribed deadlines, understand where their money is going, and have the opportunity to question their administration with all the relevant facts in hand.
This is particularly important considering that Section 176.2.2 of Quebec’s Municipal Code also requires the mayor to present the highlights of the financial report and the external auditor’s report to residents during a regular council meeting held no later than September.
Only 30 minutes to present a 91-page financial report?
The municipality has announced an information session on Monday, October 5, from 6:30 p.m. to 7:00 p.m., during which Raymond Chabot Grant Thornton will provide a brief presentation of the financial statements, followed by a question period.
Thirty minutes to present a 91-page financial report and answer residents’ questions seems rather short!
For reference: 2024 Financial Statements — 91 pages.
What concerns me even more, however, is that residents will most likely not have had the opportunity to review the document before the meeting.
How can anyone reasonably analyze 91 pages of financial data during a presentation lasting only a few minutes, understand budget variations, identify expenditures that deserve further explanation, and formulate relevant questions?
It is a bit like being invited to question an author about their book… without ever having had the chance to read it!
It seems only reasonable to make the financial statements available several days before their public presentation. This would allow residents to prepare and encourage much more constructive discussions.
A presentation scheduled on provincial election night…
Another aspect that leaves me puzzled is the decision to hold this important financial accountability session on the very same evening as Quebec’s provincial election.
In my opinion, the presentation of our municipality’s financial results deserves the full attention of residents and should not have to compete with such a significant political event.
The timing therefore raises a simple question: could this presentation have been scheduled on another date to encourage greater public participation?
After all, we are talking about the annual accounting of all our municipality’s revenues, expenditures, and financial commitments.
I will be there regardless!
I will be attending, along with several colleagues, to gain a better understanding of our municipality’s financial results, the expenditures incurred, and the evolution of our municipal debt.
Above all, I hope to get answers to a few fundamental questions:
- What was our actual municipal debt as of December 31, 2025?
- How much principal did we repay, and how much interest did we pay during the year?
- What new loans did we take out?
- What is our municipality’s medium- and long-term debt repayment strategy?
- When can we expect to see the taxes associated with borrowing bylaws disappear from our property tax bills?
After all, it is our money. And financial accountability is not a favour granted to residents; it is a fundamental responsibility of every public administration.
See you Monday at 6:30 p.m.! I hope to see many of you there, despite the elections!
