In 2012, the City of Burnaby predictedthat 2013 would be hard on its investmentportfolio, but despite the low annualyields the city did marginally better thanlast year.

By Dec. 31, 2013, the citys cash andinvestments totalled more than $679 mil-lion, up from $610 million at 2012s year-end.

A portion of the portfolios invest-ments is held in money market instru-ments until cash is required for expendi-tures. As such, the citys investment fundis directly impacted by any movement inshort-term interest rates during the year,particularly from July onward, when theinvestment fund reached a high of over$1 billion upon receipt of tax revenueand then decreased to approximately$600 million in May, Denise Jorgenson,finance director, states in her report.

Generally, last year saw low annualyields, as the Bank of Canadas bank rateopened and closed around 1.25 per cent.

The citys investment strategy gener-

ated a $38.3 million return on investment,which was more than the $36.6 millionJorgenson forecasted last year. In 2012,the citys return was $37.7 million.

According to the report, the city has$558 million wrapped up in long-terminvestments (one year or more).

For 2014, the city is projecting a lowerannual yield and $36.5 million for invest-ment income $7 million of this is fore-casted in the operating budget, while therest will be distributed to reserve funds.

RBC Capital Markets, TD Securitiesand CIBC-Wood Gundy were the cityslead investment bankers. The city invest-ed with Vancouver City Savings CreditUnion, Coast Capital Savings, Gulf &Fraser Credit Union and North ShoreCredit Union in B.C., among others.

In 2013, central banks maintaineda low interest rate environment andother economic stimulus measures toencourage continued economic growth,Jorgenson states. While there are manypositive signs in the global market, eco-nomic indicators continue to provide amixed picture heading into 2014.

twitter.com/stefania_seccia

Citys portfolio sits atroughly $679 millionStefania Secciastaff reporter

Community conversationsCommunity conversations

Connecting with our community online Visit www.burnabynow.com

Jennifer Moreaus Blog

Lets talk. From the personal to political. Life in Burnaby

Burnaby NOW Wednesday, February 12, 2014 A05

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LETTERS TO THE EDITOR

that is designed to helpaboriginal children, asystem she notes virtu-ally collapsed around thetraumatized girl.

And as Turpel-Lafondnotes: If she was not FirstNations, living on-reserve,it is very likely she wouldnot have been left as iso-lated, invisible and unsup-ported.

This report, in manyways, is a sequel toTurpel-Lafonds reportfrom last fall that showedmore than $66 million washanded off to aboriginalchild-care agencies with-out there being a singleshred of evidence that onecent of that money wasactually spent on childprotection.

The common thread inthese two investigations isthat government agenciesare extremely reluctantto demand accountabilityfrom First Nations in anumber of ways, whetherits monitoring spendingor ensuring the safetyof a vulnerable persontrapped on a reserve.

The previous investiga-tion did not turn up anyevidence of children beingput in harms way becausethe $66 million in fundingdidnt go towards protect-ing them, but that wasntthe focus of the investiga-tion.

Nevertheless, giventhe fact many aboriginalbands are mired in deeppoverty and have mem-bers who experience someof the worst health out-comes in the country andsuffer from high levelsof substance abuse, wecan infer that some childsomewhere suffered as aresult.

Turpel-Lafond has toldme she fears there areindeed similar cases to theone she has uncovered inher latest investigation,and if she is correct thatmeans somewhere, rightnow, another child maybe living a nightmare on areserve and everyone maybe looking the other way.

The child in the latestreport is now unknownoutside a relatively smallgroup of people.

Only a few cluesabout her identity wereunearthed in the report:she was small in stature,had serious dental prob-lems, liked to listen tomusic, was a star wres-tler on her school team,had emerging mentalhealth issues of her ownand cared deeply for herthree-year-old baby sister,whom she protected fromtheir violent mother when-ever she could.

Her name will likelynever be made public. Buthopefully, as always, somevaluable lessons can belearned from her short lifeand her tragic death.

The politics and politi-cal correctness of aborigi-nal child care need to beput aside in favor of realaction and professionalhelp.

As Turpel-Lafonds tworeports make clear, thetime for talking and obey-ing the sensitivities ofthe topic is over, and thetime for action is now.

Keith Baldrey is chiefpolitical reporter for GlobalB.C.

continued from page 6

Report: Tragic lessons from short life

pleasant streetscape atmosphere becausethe HOV lane turns our local shoppingstreet into a freeway for commuters everyweekday afternoon, right when many peo-ple run their errands on their way homefrom work or school.

The 1991 Hastings Street OfficialCommunity Plan (OCP) is a quarter of acentury old, and the strategies and plan-ning of it date back to the 1980s, whenBurnaby was less urbanized than it istoday. It was written long before the tow-ers at Brentwood were a twinkle in any-ones eye.

As we suggested at the council meeting,the Heights Merchants Association wantsa review of the 1991 OCP to consider mod-est adjustments that could result in long-term sustainability for our community, sothat there can always be a thriving localshopping street in the middle of this trea-sured neighbourhood.Isabel Kolic, executive director, Heights Merchants

Association

Democracy? Not so muchDear Editor:

Re: Dont insult the citys electorate,Letters to the editor, Burnaby NOW, Jan.29.

I got quite a laugh from that writer GordLarkin who seems to think that citizenvolunteer groups are an effective opposi-tion to Burnabys current BCA-dominatedgovernment.

Does he really think that anyone whosopposed to any of the mayors policies getsappointed to any citizen volunteer group?Dont make me laugh. I certainly didntread much opposition from Mr. Larkin.

I know because Ive applied to a coupleof those volunteer groups in the past andonly received the sounds of silence.

If he wants an example of our Burnabydictatorship, he should just take a lookat the public hearing on a proposed 53storey highrise at Brentwood Mall, set forFeb. 25. Sure therell be a chance to makecomments. But no public debate will beallowed. Welcome to China or Russia.The whole Brentwood expansion plan waspre-approved by council before it went toa public hearing.

This lack of chance for public debateis one way in which the current councilkeeps getting re-elected. At election time,youll have one chance to ask one questionafter waiting in line with other disgruntledcitizens at one poorly advertised publicmeeting in your area. This means thatthe same council could probably get re-elected by holding no public meetings atall. This was proven by our own Jane Shinof the NDP, provincially last year in NorthBurnaby.

So long as the electorate can be keptdiscouraged by the election process andignorant of the issues, as Mr. Larkin seemsto be, the more likely a government is toget re-elected.

Jim Ervin, Burnaby

Heights, here she comesDear Editor:

Re: Heights merchants wary of boom-ing Brentwood, Burnaby NOW, Feb. 5.

Rest assured that once Brentwoodbecomes another Metrotown mayhem, Iwill be shopping more on the Heights toavoid the crowds and traffic.

I dont think Im alone in this thought!Carol Beatch, Burnaby

continued from page 6Keep Heights sustainable

Burnaby NOW Wednesday, February 12, 2014 A07

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A18 Wednesday, February 12, 2014 Burnaby NOW

Monday at Deer LakeUnited Church hall.

Beginners are welcome.The sessions are held at

10 a.m. on Mondays. CallGeorgie at 604-522-5647 forinformation.

Rocky Horror funThis is an early heads-

up, but it sounds delight-ful, so I thought I shouldlet you know in time to getit on your calendars!

Burnaby MountainSecondary is putting on aproduction of The RockyHorror Show in March.

The twist? Its an entire-ly student-run production.

Isaac Caverzan, a Grade12 student, is directing andstarring as Frank-N-Furter.

An email from studentAllegra Wright let usknow that Isaac is takingan Independent DirectedStudy course based offDirecting 12, and he hasrecruited a team to assisthim in all aspects of theproduction includingdance, vocals and lights.

He ran auditions andcast students from grades9 through 12.

This production isentirely student-run (withthe exception of twoalumni), and we havebeen rehearsing togethertwo days a week sinceNovember, Allegra

wrote. We are extremelyexcited about this upcom-ing show.

Its onstage March 5, 6and 7 at 7 p.m.

Watch for more as thedate approaches.

Choral treatsHeres another early

heads-up this one forchoral music lovers.

Mark Saturday, March 8on your calendars thatsthe day that the AmabilisSingers are bringing OfHeaven and Earth to thestage.

It runs at 8 p.m. onSaturday, March 8 at NewWestminster ChristianReformed Church, 825513th Ave. in Burnaby.

Tickets are $20, or freefor children under 12. Call604-437-9200 or buy fromchoir members; they willalso be available at thedoor.

See the website atwww.AmabilisSingers.orgfor more details.

(Author disclaimer:Yes, I sing with Amabilis.Youll find me in the altoranks, so if you come tothe concert, be sure to sayhi!)

Got an idea for Lively City?Send arts and entertainmentstories to Julie, jmaclellan@burnabynow.com. You canalso find her on Twitter,@juliemaclellan.

Lively City: Get dancingcontinued from page 17

ARE YOU UPFOR

A CHALLENGE?

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KIDSCHALLENGEIN PARTNERSHIPWITH COAST KINETICS

Burnaby Family Life is hosting their 3rd Annual BFL Kids Challengeon June 14, 2014 from 1:00pm - 3:00pm, and youre invited!

Enjoy a fun-filled 2 hours with an agility course, strength training circuit,and much more! Bring your friends, bring your parents, bring the fun!

Additional information will follow shortly on how you, or your organizationcan help support some of the most vulnerable children in our community.

Help us make a difference!For more information please call 604.659.2200 or visit www.burnabyfamilylife.org

SATURDAY JUNE 14, 2014

HOLDOM SKYTRAIN PLAZA, BURNABY

SAVETHE DATE