Following the adoption of new standards established by the Canadian Institute of Chartered Accounts, the City of Montreal will distribute a non-transferred surplus of $21.9 million to Boroughs. The distribution is based on a method that takes into account transactions that have been revised appropriate for each sector. This method means that 11 out of 15 Boroughs will receive amounts varying from $140,837 to $3,211,210. LaSalle will receive $1,063,424.
This was announced by vice-president Sammy Forcillo of the executive committee of the City of Montreal and person in charge of Finance. “In the interest of equitable payments, the City has decided to distribute major sums to Boroughs so that they can allocate the funds themselves to local priorities as they see fit. The City wishes to assist Boroughs in achieving their mutual objective of serving all residents of Montreal.”
LaSalle gets $1,063,424
LaSalle gets $1,063,424
Due to adoption of new accounting standards
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