Ottawa's mayor boasted about his record and the city's finances to francophone business leaders on Thursday.

Mayor Larry O'Brien told the RGA that Ottawa is moving in the right direction on key issues affecting all residents in the region, which include plans to redevelop Lansdowne Park and revitalize the city's transit system.

He added that under his leadership, the city's financial position is better than ever.

"This year, for the first time since amalgamation, the City of Ottawa finally has a balance sheet that can be read and understood by businessmen like me and you," said O'Brien.

"Ottawa is strong financially, with a half a billion dollars in cash, a half a billion dollars in debt and about nine billion dollars in assets. That's a balance sheet each and every one of us would love to have in our businesses."

O'Brien has not yet indicated if he will seek re-election for a second term in office. He is expected to make that announcement in June.