Publication of the Town of Sutton’s 2021 financial statements

At its August 3 meeting, Town Council adopted the financial statement report for the year ending December 31, 2021.

As reported by the Mayor, revenues for 2021 increased by 9.8% over the adopted budget to $13,199,183. This growth is primarily due to a larger than anticipated increase in transfer taxes of $843,011, the increased MTQ grant of $213,257 for road maintenance, and $77,188 in revenue received from RECYC-Quebec that is more than anticipated.

Expenses amount to $11,163,741, a decrease of 4.1% compared to the budget, while allocations total $80,293.

This means that we end the 2021 fiscal year with a surplus of $1,955,150, while the total reserve funds amount to $4,174,158 as of December 31, 2021.

The mayor wished to point out that these financial statements do not take into account, for accounting reasons, the guarantee of more than $7 million from the Brome-Missisquoi MRC in favour of IHR Telecom, to which the Town of Sutton is bound up to $1,259,657. Council asked that a note be added to the report to that effect.

Presentation of the highlights of the 2021 financial statements (in French – English translation to come)

Financial Report for the year ending December 31, 2021 (in French only)

Mayor’s report on 2021 financial report and independent auditor’s report