Montreal's 2025 budget shows $256.6M surplus as capital spending jumps 9.5% year-over-year

Montreal closed 2025 with an operating surplus of $256.6 million—the largest in recent years—as capital investments across the city reached $2.1 billion, up $183.3 million (9.5%) from 2024.

The city's municipal operations contributed a $263.8 million surplus, with central departments adding $209.0 million and boroughs contributing $54.8 million. Agglomeration responsibilities posted a $7.2 million deficit. Total revenues for 2025 reached $7,472.5 million against operating and finance expenses of $7,215.9 million.

Capital investments prioritized infrastructure and maintenance. Environment and underground infrastructure received $696.9 million, road infrastructure $560.2 million, buildings $408.8 million, and parks, green spaces and playgrounds $252.7 million. Central departments controlled $1.9 billion of the total capital budget, while boroughs managed $198.4 million.

However, Auditor General Andrée Cossette raised a significant concern in her audit report on the 2025 finances. Cossette said the city needs to improve the oversight of how public funds are being spent, citing "shortcomings in the oversight, monitoring" of expenditures. The source material does not specify what improvements Cossette recommends or what happens next with respect to council's response to the audit findings.