Adoption of 2025 Financial Statements

Apr 15, 2025

The Edmundston City Council has just adopted the financial statements for the year 2024. According to the budget method, the general operating fund shows a surplus of $67,926. The water supply and wastewater services (water and sewer) operating fund shows a surplus of $34,131. The surplus in the electricity production operating fund amounted to $51,029. These results include the new territories of Rivière-Verte and parts of the Saint-Jacques and Saint-Basile LSDs.  

The New Brunswick Local Governance Act stipulates that any surplus must be credited to the current account in the second year following the year in question. As a result, the surpluses from the three funds will be included in the respective budgets in 2026.

According to Mayor Eric Marquis, these positive results are the result of the municipality's financial stability and City Council's determination to continue to manage taxpayers' money effectively. "Once again this year, we can confirm to the public that spending is well under control. This is what has enabled us to achieve positive financial results. Another piece of good news is that the municipal debt is also falling, because we are continuing to pay it down faster than we borrow it, while still being able to maintain our annual investments as budgeted."

Net debt in 2024 was reduced by $2.7 million compared with the previous year. Debt fell from $29.4 million in 2023 to $26.7 million at 31 December 2024. According to Canadian Public Sector Accounting Standards (CPSA), the consolidated surplus for Edmundston is $6.7 million. It should be noted that grants received for various projects are included in revenues. Amortization of capital assets is included in expenses. Edmundston's reserve funds total $15.8 million on the consolidated balance sheet, compared to $13.8 million last year.  

The financial statements were presented by Nadeau Picard et Associés, CPA, at the April 15 public meeting.

Copies of the 2024 financial statements are available at City Hall or can be downloaded from the municipal website at edmundston.ca in the "Official Publications" section.

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CONTACT: Éric Marquis, Mayor, 506.739.2115, eric.marquis@edmundston.ca