city of pitt meadows 2013 statement of … statement of financial.… · in 2013, the city adopted...

CITY OF PITT MEADOWS

2013 STATEMENT OF FINANCIAL INFORMATION

As required by the Financial Information Act

• Statement of Financial Information Approval

• Management Report

• 2013 Audited Financial Statements

• Schedule of Council and Employee Remuneration and Expenses

• Schedule of Payments to Suppliers of Goods and Services

• Statement of Severance Agreements

Additional information to conform with Community Charter S. 168 (1)(d) and (2)

• Disclosure of contracts with Council members or former Council members

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CORPORATION OF THE CITY OF PlU MEADOWS

STATEMENT OF FINANCIAL INFORMATION APPROVAL

The undersigned, as authorized by the Financial Information Regulation, Schedule 1,subsection 9(2), approves all the statements and schedules included in this Statement ofFinancial Information, produced under the Financial Informat/on Act.

Date: ?‘ihs2?JWV /

Prepared pursuant to Financial Information Regulation, Schedule 1, section 9. #l19517v1

MarkDirector of Finance & Facilities

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CORPORATION OF THE CITY OF P11] MEADOWS

MANAGEMENT REPORT

The Financial Statements contained in this Statement of Financial Information under theFinancial Information Act have been prepared by management in accordance withgenerally accepted accounting principles or stated accounting principles, and theintegrity and objectivity of these statements are management’s responsibility.Management is also responsible for all the statements and schedules, and for ensuringthat this information is consistent, where appropriate, with the information contained inthe financial statements.

Management is also responsible for implementing and maintaining a system of internalcontrols to provide reasonable assurance that reliable financial information is produced.

Council is responsible for ensuring that management fulfils its responsibilities forfinancial reporting and internal control.

The external auditors, BDO Canada LLP, conduct an independent examination, inaccordance with generally accepted auditing standards, and express their opinion on thefinancial statements. Their examination does not relate to the other schedules andstatements required by the Act. Their examination includes a review and evaluation ofthe City’s system of internal control and appropriate tests and procedures to providereasonable assurance that the financial statements are presented fairly. The externalauditors have full and free access to Council and meet with it on an annual basis.

On behalf of the Corporation of the City of Pitt Meadows,

Mark RobertsDirector of Finance & Facilities

Date:_____________

Prepared pursuant to Financial Information Regulation, Schedule 1, section 9. #1 19578vL

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I Bi: Tel: 604 688 5421 BDO Canada LLPFax: 604 688 5132 600 Cathedral [email protected] 925 West Georgia Streetwww.bdo.ca Vancouver BC V6C3L2 Canada

INDEPENDENT AUDITOR’S REPORT

To the Mayor and Council of the City of Pitt Meadows

We have audited the accompanying consolidated financial statements of the City of Pitt Meadows,which comprise the Consolidated Statement of Financial Position as at December 31, 2013, and theConsolidated Statements of Operations, Change in Net FinanciaL Assets and Cash Flow for the year thenended, and a summary of significant accounting policies and other explanatory information.

Management’s Responsibility for the Consolidated Financial Statements

Management is responsible for the preparation and fair presentation of these consolidated financialstatements in accordance with Canadian public sector accounting standards, and for such internalcontrol as management determines is necessary to enable the preparation of consolidated financialstatements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibiLity is to express an opinion on these consolidated financial statements based on ouraudit. We conducted our audit in accordance with Canadian generally accepted auditing standards.Those standards require that we comply with ethicaL requirements and plan and perform the audit toobtain reasonable assurance about whether the consolidated financial statements are free frommaterial misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures inthe consolidated financial statements. The procedures selected depend on the auditor’s judgment,including the assessment of the risks of material misstatement of the consolidated financialstatements, whether due to fraud or error. In making those risk assessments, the auditor considersinternal control relevant to the entity’s preparation and fair presentation of the consolidated financialstatements in order to design audit procedures that are appropriate in the circumstances, but not forthe purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit alsoincludes evaluating the appropriateness of accounting policies used and the reasonableness ofaccounting estimates made by management, as well as evaLuating the overall presentation of theconsolidated financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basisfor our audit opinion.

Opinion

In our opinion, the consolidated financial statements present fairly in aLL material respects, theconsolidated financial position of the City of Pitt Meadows as at December 31, 2013 and itsconsolidated results of operations and its consolidated cash flows for the year then ended, inaccordance with Canadian public sector accounting standards.

Chartered Accountants

Vancouver, British ColumbiaMay 13, 2014

BDO Canada LLP, a Canadian Limited liability partnership, is a member of BDO International Limited, a UK company limited byguarantee, and forms part of the international BDO network of independent member firms.

City of Pitt MeadowsConsolidated Statement of Financial Position

As at December 31, 2013

2013 2012

FINANCIAL ASSETSCash and EquivalentsPortfolio Investments (Note 2)Accounts Receivable (Note 3)Development Installments (Note 4)

$ 351,17821,874,448

4,721,9841,012,385

$ 360,84721,820,5334,129,877

495,663

27,959,995 26,806,920

LIABILITIESAccounts Payable and Accrued LiabilitiesOther Government PayableContractor HoldbacksPrepaid TaxesRefundable Performance DepositsDeferred Revenue (Note 5)Employee Benefit Obligation (Note 6)Development Cost Charges (Note 7)Debt (Note 8)

1,802,5442,961,670

162,7901,515,368

721,006287,995527,500

5,543,7578,032,014

1,145,6592,671,937

215,0041,454,683

704,617272,432503,300

4,581,4737,422,763

21,554,644 18,971,868

NET FINANCIAL ASSETS 6,405,351 7,835,052

NON FINANCIAL ASSETSTangible Capital Assets (Note 9, Schedule 1)Inventories of SuppliesPrepaid Expenses

172,953,030143,211

1,615,975

170,883,384123,080122,297

ACCUMULATED SURPLUS (Note 10)

174,712,216

$181,117,567

171,128,761

$178,963,813

See accompanying Notes to the Consolidated Financial Statements.

CDeb Walters, Mayor

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City of Pitt MeadowsConsolidated Statement of OperationsFor the Year Ended December 31, 2013

2013 Budget 2013 Actual 2012 Actual(Note 14)

REVENUESMunicipal Property Taxes (Schedule 2) $ 15,654,757 $ 15,443,484 $ 15,199,525Parcel Taxes 30,000 21,390 29,295Private Utility Company Taxes 261,071 270,748 241,699Water Levy 3,621,371 3,655,057 3,436,947Sewer Levy 2,114,354 2,131,952 2,031,376Drainage Levy 1,405,412 1,407,828 1,310,931Solid Waste Levy 1,298,969 1,207,710 1,213,265Dyking Levy 13,004 12,860 12,872Sale of Services 1,899,146 1,687,192 1,701,614Licenses, Permits, Penalties, and Fines 649,625 872,567 768,240Investment Income 758,600 479,912 454,598Government Grants 3,957,000 450,624 803,758Contributions by Developers 635,900 953,400 737,967Contributions by Others 860,229 1,895,848 1,353,394Gain (Loss) on Disposal of TCA (53,611) (53,611) 12,220,961

33,105,827 30,436,961 41,516,442

EXPENSESGeneral Government Services 4,489,607 4,622,114 4,388,974Protective Services 6,428,184 6,252,073 6,531,148Transportation Services 4,103,785 3,798,646 3,777,093WaterServices 3,167,138 2,950,511 3,046,776Sewer Services 1,970,867 1,837,951 1,654,271Drainage Services 1,482,463 1,501,619 1,251,957Solid Waste Services 1,459,930 1,463,008 1,438,585Dyking Services 217,260 211,725 216,441Recreation and Cultural Services 6,110,339 5,787,430 5,707,785Planning Services 395,120 369,573 343,515

29,824,693 28,794,650 28,356,545Less: Internal Equipment Charges (641,596) (511,443) (474,633)

29,183,097 28,283,207 27,881,912

ANNUAL SURPLUS $ 3,922,730 2,153,754 13,634,530

ACCUMULATED SURPLUS, BEGINNING OF YEAR 178,963,813 165,329,283

ACCUMULATED SURPLUS, END OF YEAR $181,117,567 $178,963,813


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City of Pitt MeadowsConsolidated Statement of Change in Net Financial Assets (Debt)

For the Year Ended December 31, 2013

2013 Budget 2013 Actual 2012 Actual(Note 14)

Annual Surplus $ 3,922,730 $ 2,153,754 $ 13,634,530

Acquisition of Tangible Capital Assets (13,594,600) (6,949,176) (6,576,735)Amortization of Tangible Capital Assets 4,810,080 4,810,080 4,591,381Proceeds on Disposal of Tangible Capital Assets 15,839 15,839 12,595,151Loss (Gain) on Disposal of Tangible Capital Assets (Note 9) 53,611 53,611 (12,220,961)

(8,715,070) (2,069,646) (1,611,164)

Net Use (Acquisition) of Inventories of Supplies 0 (20,131) 15,397

Net Use (Acquisition) of Prepaid Expenses 0 (1,493,678) 15,630

INCREASE (DECREASE) IN NET FINANCIAL ASSETS (DEBT) (4,792,340) (1,429,701) 12,054,393

NET FINANCIAL ASSETS (DEBT), BEGINNING OF YEAR 7,835,052 (4,219,341)

NET FINANCIAL ASSETS, END OF YEAR $ 6,405,351 $ 7,835,052


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City of Pitt MeadowsConsolidated Statement of Cash FlowFor the Year Ended December 31, 2013

2013 Actual 2012 Actual

OPERATING TRANSACTIONSAnnual Surplus 2,153,754 13,634,530Non Cash Items Included in Annual Surplus:

Contributions from Developers and Others (825,249) (409,535)Amortization 4,810,080 4,591,381Loss (Gain) on Disposal of Tangible Capital Assets (Note 9) 53,611 (12,220,961)

Decrease (Increase) in Inventories of Supplies (20,131) 15,397Decrease (Increase) in Prepaid Expenses (1,493,678) 15,630Decrease in Non Cash Operating Items 387,182 173,633Increase in Development Installments (516,722) (395,971)Increase in Refundable Performance Deposits 16,389 172,941Decrease in Deferred Revenue 15,563 (40,127)

Cash Provided by Operating Transactions 4,580,799 5,536,918

CAPITAL TRANSACTIONSProceeds on Disposal of Tangible Capital Assets 15,839 12,595,151Cash Used to Acquire Tangible Capital Assets (6,695,136) (6,547,561)

Cash Acquired (Applied) by Capital Transactions (6,679,297) 6,047,590

INVESTING TRANSACTIONSNet Purchase of Portfolio Investments (53,915) (3,860,643)

FINANCING TRANSACTIONSDevelopment Cost Charge Receipts and Interest 1,533,493 933,027Proceeds from Long-term Debt and Temporary Borrowing 3,874,546 745,000Repayment of Temporary Borrowing (Note 8) (3,000,000) (9,189,000)Repayment of Long Term Debt (265,295) (179,576)

Cash Provided (Used) in Financing Transactions 2,142,744 (7,690,549)

INCREASE (DECREASE) IN CASH AND EQUIVALENTS (9,669) 33,316

CASH AND EQUIVALENTS, BEGINNING OF YEAR 360,847 327,531

CASH AND EQUIVALENTS, END OF YEAR 351,178 360,847


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City of Pitt MeadowsNotes to the Consolidated Financial Statements


The City was incorporated as a District Municipality in 1914 under the Municipal Act (now a combinationof the Community Charter and the Local Government Act), a statute of the Province of British Columbia.Effective January 1, 2007, the articles of incorporation of the municipality were changed by an Order inCouncil of the provincial government to reflect a change in its name to the City of Pitt Meadows. Itsprincipal activities include the provision of local government services to the residents of the incorporatedarea. These services include community planning, protective, transportation, recreational, solid waste,water, sewer, drainage and dyking services.

1. SIGNIFICANT ACCOUNTING POLICIES

Basis of PresentationThe consolidated financial statements of the City of Pitt Meadows are the representations of managementprepared in accordance with Canadian public sector accounting standards as prescribed by the PublicSector Accounting Board (PSAB) of the Chartered Professional Accountants Canada.

In 2013, the City adopted the provisions of the public sector accounting standard “PS3410 GovernmentTransfers”. This new standard can be applied either retroactively or prospectively, and the City elected toapply the standard prospectively which resulted in no impact to the previous years. Government transfersare recognized as revenue when authorized and eligibility critera have been met unless the transfercontains stipulations that create a liability. If the transfer contains stipulations that create a liability, therelated revenue is recognized over the period that the liability is extinguished.

In 2013, the City also adopted the provisions of the public sector accounting standard, “PS3510 TaxRevenue”. The requirements of this standard did not differ from the treatment the City had previouslybeen following and therefore, no change was required

The consolidated financial statements reflect the assets, liabilities, revenues, expenses, and accumulatedsurplus of the reporting entity which is comprised of all organizations that are accountable for theadministration of their financial affairs and resources to the Council and are controlled or owned by theCity, including the Pitt Meadows Economic Development Corporation which was incorporated on March5, 2010. Inter-entity balances and transactions have been eliminated on consolidation.

Use of EstimatesThe preparation of consolidated financial statements in conformity with Canadian public sector accountingstandards requires management to make estimates and assumptions that affect the reported amounts ofassets and liabilities and the reported amounts of revenues and expenses during the period. Significantareas requiring use of management estimates relate to the determination of employee benefit obligations,useful life of tangible capital assets, liabilities associated with legal claims, and collectability of accountsreceivable. As such, actual results could differ from those estimates.

Revenue RecognitionRevenue is recorded on the accrual basis and included in revenue in the period in which the transactionsor events occurred that give rise to the revenues. Revenue unearned in the current period is recorded asdeferred revenue.

Taxes are recorded at estimated amounts when they meet the definition of an asset, have beenauthorized and the taxable event occurs. Annual levies for non-optional municipal services and generaladministrative services are recorded as taxes for municipal services in the year they are levied. Taxesreceivable are recognized net of an allowance for anticipated uncollectable amounts. Levies imposed byother taxing authorities are not included as taxes for municipal purposes.

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1. SIGNIFICANT ACCOUNTING POLICIES (continued)

Unrestricted revenue for the sale of goods and services are reported as revenue at the time the servicesor products are provided.

Contributions for specific purposes are recorded as deferred revenue and recognized as revenue in theyear in which the related expenses are incurred.

Through the British Columbia Assessment Authority’s appeal process, taxes may be adjusted by way ofsupplementary roll adjustments. The effects of these adjustments on taxes are recognized at the timethey are awarded.

Government TransfersGovernment transfers, which include legislative grants, are recognized as revenue in the financialstatements when the transfer is authorized and any eligibility criteria are met, except to the extent thattransfer stipulations give rise to an obligation that meets the definition of a liability. Transfer arerecognized as deferred revenue when the transfer stipulations give rise to a liability. Transfer revenue isrecognized in the statement of operations as the stipulation liabilities are settled.

Expense RecognitionExpenses are recognized in the period the goods and services are acquired and a liability is incurred ortransfers are due.

Cash and EquivalentsCash and equivalents consist of cash, bank balances, highly liquid money market investments and short-term investments with maturities of less than 90 days at acquisition.

Portfolio InvestmentsInvestments, other than Municipal Finance Authority Pooled Funds which are recorded at fair marketvalue, are amortized. Investment premiums and discounts are amortized over the term of the respectiveinvestment. Investments are written down when there is, in the opinion of management, a permanentdecline in value.

Non Financial AssetsTangible capital and other non financial assets are reported as assets as they can be used to providegovernment services in future periods. These assets do not normally provide resources to dischargeliabilities unless they are sold.

Tangible Capital AssetsTangible Capital Assets, comprised of capital assets and capital work-in-progress, are recorded at costwhich includes all amounts that are directly attributable to acquisition, construction, development andbetterment of the assets. Interest incurred during construction is capitalized.

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1. SIGNIFICANT ACCOUNTING POLICIES (continued)

The cost, less residual value, is amortized on a straight-line basis over the estimated useful lives of theassets as follows:

Land No amortizationRoad Infrastructure 20 to 100 yearsDrainage Infrastructure 30 to 80 yearsWater Infrastructure 10 to 80 yearsSewer Infrastructure 30 to 80 yearsDyking Infrastructure No amortizationOther Infrastructure 50 to 100 yearsBuildings 20 to 50 yearsLand Improvements 20 to 30 yearsVehicles 5 to 20 yearsEquipment and Furnishings 4 to 10 years

In the year of acquisition, amortization begins the first day of the month the asset is in service.

Contributed tangible capital assets are recorded at their fair value at the date of contribution. Thecontribution is also recorded as revenue.

Employee Future BenefitsThe City and its employees make contributions to the Municipal Pension Plan. The Municipal PensionPlan is a multi-employer contributory defined pension plan. These contributions are expensed asincurred.

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The City also accrues sick leave, deferred vacation, supplementary vacation, vacation in year ofretirement, overtime and service severance benefits. The liability relating to these benefits is actuariallydetermined based on service and best estimates of retirement ages and expected future salary and wageincreases. The liability under this benefit plan is accrued based on projected benefits as the employeesrender services necessary to earn the future benefits.

Property Tax Collections for Other GovernmentsThe City is required by legislation to bill and collect property taxes on behalf of other governments. Theserevenues and payments are not included in the City’s financial statements.

2. PORTFOLIO INVESTMENTS

The City’s portfolio of investments include bonds, deposits and notes of provincial governments andagencies, deposits and notes of chartered banks, and deposits in the Municipal Finance Authority MoneyMarket Fund and Short Term Bond Fund.

The various instruments have stated rates of return ranging from 2.03% to 3.979% (2012 — 1.75% to4.95%), with varying maturity dates up to August 3, 2022. The market value of the investments as atDecember 31, 2013 was $21,907,500 (2012 — $21,980,600). It is the City’s practice to buy and holdinvestments to maturity in order to realize the stated rate of return.

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3. ACCOUNTS RECEIVABLE

2013 2012Property taxes and utilities receivable $ 1,948,955 $ 1,504,953Other government receivable 2,301,978 1,901,546General and interest receivable 471,051 723,378

Total $ 4,721,984 $ 4,129,877

4. DEVELOPMENT INSTALLMENTS

Development installments represent funds due from developers and others within two years. Fundsrealized upon collection of these receivables can only be used for expenditures as provided by theDevelopment Cost Charge Reserve Fund Expenditure Bylaw and the relevant sections of the LocalGovernment Act, unless otherwise authorized by the Ministry of Community, Sport and CulturalDevelopment.

5. DEFERRED REVENUE

2013 2012Business licenses $ 142,874 $ 124,897Other revenues received in advance 145,121 147,535

Total $ 287,995 $ 272,432

6. EMPLOYEE BENEFIT OBLIGATION

The City provides non-vested sick leave, service severance, overtime bank, and vacation benefits to itsemployees. These benefits are described as follows:

a) Non-Vested Sick Leave: Employees are entitled to a sick leave benefit of 1.5 days for each monthof service which may be accumulated to a maximum of 250 days.

b) Service Severance: Upon retirement, employees are eligible for a payout of 3 days per year ofservice accumulated after January 1, 1969, paid at his or her current rate of pay. Upontermination or death, employees who have completed 8 or more years of service accumulatedafter January 1, 1969 are eligible for a payout of 1 day per year of service paid at his or hercurrent rate of pay.

c) Overtime Bank: Employees may accumulate overtime hours in a bank. Upon termination,retirement or death accrued overtime is paid out at his or her current rate of pay.

d) Deferred Vacation: Employees may defer a portion of their annual vacation entitlement.Employees in the collective bargaining unit who are entitled to 25 vacation days or more aresubject to a maximum accumulation of 20 days. Exempt employees are subject to a maximum of15 days.

e) Supplementary Vacation: Employees are entitled to 5 days of supplementary vacation every fiveyears. Employees in the collective bargaining unit are entitled commencing the fifteenth year ofservice. Exempt employees are entitled commencing the fifth year of service. Thesupplementary days must be used during the five year period following entitlement.

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6. EMPLOYEE BENEFIT OBLIGATION (continued)

Information about obligations for employee sick leave, overtime, vacation and retirement benefits are asfollows:

2013 2012Accrued Benefit Obligation, beginning of year $ 503,300 $ 543,500

Current Service Cost 50,900 62,000Interest Cost 18,600 20,800Past Service Cost - 6,100Benefits Paid (63,700) (46,900)Actuarial (Gain) Loss 18,400 (82,200)

Accrued Benefit Obligation, end of year $ 527,500 $ 503,300

The most recent actuarial valuation of the City’s employee benefit obligation was completed as atDecember 31, 2012.

The significant actuarial assumptions used in measuring the City’s accrued benefit obligations includeestimated future wage increases and the following:

2013 2012Discount Rate 4.10% 3.50%Expected Future Inflation Rate 2.50% 2.50%

7. DEVELOPMENT COST CHARGES

The change in Development Cost Charges is as follows:

2013 2012Development Cost Charges, beginning of year $ 4,581,473 $ 4,028,807

Net Developer Contributions (Refunds) 1,429,305 830,870Interest Earnings 104,188 102,157Project Funding and Revenue Recognized (571,209) (380,361)

Development Cost Charges, end of year $ 5,543,757 $ 4,581,473

8. DEBT

Debt includes long-term debt and temporary borrowing as follows:

2013 2012Long-term debt (a) $ 7,299,070 $ 4,422,763Temporary Borrowing (b) 732,944 3,000,000

Total $8,032,014 $7,422,763

a) Long-term debt:

The City obtains debt financing through the Municipal Finance Authority in accordance with theCommunity Charter to finance certain capital expenditures.

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8. DEBT (continued)

The gross and outstanding amounts of the long-term debt are as follows:

2013 2012Civic Centre, Bylaw 2368, 3.73%, due 2035 $ 2,403,278 $ 2,471,440Arena Acquisition, Bylaw 2408, 3.73%, due 2025 1,832,730 1,951,323Facility Construction and Revitalization , Bylaw 2429, 2%, due 2033 3,063,062 -

Total $7,299,070 $4,422,763

Future sinking fund and principal payments on net outstanding long-term debt over the next fiveyears and thereafter are as follows:

Year Amount2014 $ 344,4582015 357,1882016 365,1922017 373,5172018 382,175

Thereafter 5,476,540Total $ 7,299,070

b) Temporary Borrowing:

The City has temporary capital financing through the Municipal Finance Authority InterimFinancing program for the following capital projects:

Authorized 2013 2012Drainage Utility, Bylaw 2430 $ 4,500,000 $ 732,944 $ -

Facility Construction and Revitalization, Bylaw 2429 7,150,000 - 3,000,000Total $11,650,000 $ 732,944 $ 3,000,000

Regular principal payments are not required, but funds borrowed under this program must eitherbe repaid or converted to long term borrowing through a debenture issue within five years. Theoutstanding balance bears interest at approximately prime less 1.25%, which is paid monthly.

9. TANGIBLE CAPITAL ASSETS

Schedule 1 details Tangible Capital Asset cost and accumulated amortization information. As atDecember 31, 2013, the City held $3,163,590 in assets under construction that were not yet amortized(2012 - $1,380,609)

During the year the assets valued at $254,040 (2012 - $29,174) were contributed to the City and recordedas revenue.

During fiscal 2012, the City incurred a gain of $12.3 million on the disposal of two parcels of property.

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10. ACCUMULATED SURPLUS

Accumulated Surplus includes Equity in Tangible Capital Assets, Current Fund Surplus and StatutoryReserves as follows:

. W 201J 2Unappropriated Balance

Current Fund Surplus $ 13,730 $ 206,765Appropriated Surplus

Statutory Operating Reserves 2,898,082 1,957,574Statutory Capital Reserves 13,284,739 13,338,853

16,182,821 15,296,427Investment in Tangible Capital Assets 164,921,016 163,460,621Total Accumulated Surplus $181,117,567 $178,963,813

11. SEGMENTED INFORMATION

For reporting purposes, City activities have been aggregated into functional segments based on theservices each activity provides. The Consolidated Schedule of Segment Disclosure (Schedule 3) reportsthe revenues and expenses that are directly attributable to each functional segment. The revenues andexpenses that cannot be directly attributable or allocated on a reasonable basis to individual segmentsare reported in the unallocated segment. The following describes the services included in each segment:

General Government ServicesThe General Government segment includes administration, legislative, financial, human resources,information technology, economic development and sustainability services.

Protective ServicesThe Protective Services segment includes Police services provided by the RCMP and support services bythe District of Maple Ridge, fire protection, bylaw enforcement, business licensing, building inspection,animal control and emergency program services.

Transportation ServicesThe Transportation Services segment includes engineering, operations administration, and roadsmaintenance services.

Utility, Solid Waste and Dyking ServicesThe Utility, Solid Waste and Dyking Services segment includes drainage, water, and sewer utilityservices, the solid waste collection and disposal service and dyking services.

Recreation and Cultural ServicesThe Recreation and Cultural Services segment includes parks and recreation services provided by theDistrict of Maple Ridge, library services provided by the Fraser Valley Regional Library, and theoperations of the Pitt Meadows Arena.

Planning ServicesThe Planning Services segment includes services for managing development and community planning.

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For the Year Ended December31, 2013

11. SEGMENTED INFORMATION (continued)

UnallocatedThe Unallocated segment includes the following revenues and expenses that cannot be directlyattributable or reasonably allocated to a segment: municipal property taxation and penalties and interestcharged thereon, taxes in lieu, return on investments, and interest paid on development cost chargefunds and tax prepayment accounts.

12. MUNICIPAL PENSION PLAN

The municipality and its employees contribute to the Municipal Pension Plan (the Plan), a jointly trusteedpension plan. The board of trustees, representing plan members and employers, is responsible foroverseeing the management of the Plan, including investment of the assets and administration ofbenefits. The Plan is a multi-employer contributory pension plan. Basic pension benefits provided arebased on a formula. The plan has about 179,000 active members and approximately 71,000 retiredmembers. Active members include approximately 62 contributors from the City of Pitt Meadows.

The most recent actuarial valuation as at December 31, 2012 indicated a $1,370 million funding deficit forbasic pension benefits. The next valuation will be as at December 31, 2015 with results available in2016. Employers participating in the Plan record their pension expense as the amount of employercontributions made during the fisal year (defined contribution pension plan accounting). This is becausethe Plan records accrued liabilities and accrued assets for the Plan in aggregate with the result that thereis no consistent and reliable basis for allocating the obligation, assets and cost to the individual employersparticipating in the Plan.

The City of Pitt Meadows paid $385,168 (2012 -$368,811) for employer contributions while employeescontributed $324,957 (2012 - $317,172) to the Plan in fiscal 2013.

13. CONTINGENT LIABILITIES AND COMMITMENTS

a) The City is a member of the Municipal Insurance Association (MIA), which operates under areciprocal insurance exchange agreement. The main purposes of the exchange agreement are:(1) to pool the risk of third party liability claims against member municipalities (approximately 170)in order to allow for stable financial planning related to those liability claims; and (2) to engage inbroad risk management strategies to reduce accidents or occurrences that may result in liabilityclaims against the City. The City is assessed an annual premium by MIA based on factors suchas population, administrative costs, premium tax and re-insurance costs. MIA is subject tofinancial oversight by the Provincial Government.

b) The City self insures for certain potential financial losses arising from the penetration of water intobuilding envelopes (“leaky buildings”) and acts of terrorism, for any claims made after January 1st,

2002.

c) The City has cost sharing agreements with the District of Maple Ridge to provide services in amore efficient and cost effective manner. These agreements cover the provision of all parks andleisure services, and police housing and support services. The costs are shared on the basis ofproportionate population, and Council can terminate the agreement(s) by providing four months toone year’s notice.

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13. CONTINGENT LIABILITIES AND COMMITMENTS (continued)

d) The City has a long-term service agreement with another organization for the provision of fire andpublic works dispatch services. This agreement has an annual cost of approximately $34,000and will expire on December 31, 2014.

e) The City has been named defendant in a number of claims that are currently pending. Indetermining their estimated exposure the City has relied upon their understanding of the claims,including activities undertaken by the other parties, as well as discussions with legal counsel. Inthose cases where an unfavourable outcome is likely, a provision for anticipated costs has beenaccrued. In the opinion of management, the amount of any loss from these claims cannot bereasonably estimated, nor can the likelihood of their outcomes be known at this time. Therefore,management has made no provision for these claims and any future settlement will be accountedfor in the year of settlement.

f) As at December 31, 2013 there were various property assessment appeals pending. Theoutcome of those appeals may result in adjustments to property taxes receivable for the currentand prior years. The City has made no specific provision for these appeals as the outcome isindeterminable.

g) The City is a member of E-Comm, an organization comprised predominately of membermunicipalities, for the purpose of providing emergency dispatch services. The City is representedon the board, and as a Class ‘A’ shareholder has voting rights should the organization want toincur additional debt. The E-Comm facility was constructed using debt as a financing mechanismand members are liable for a proportionate share of that debt. This debt is repaid by membersthrough annual fees charged by E-Comm. Should E-Comm dissolve, members would be liablefor a proportionate share of any residual debt. Alternatively should a member choose to opt outof E-Comm, they would be liable for a proportionate share of debt at the time of withdrawal.

h) On September 15, 2009 the City agreed to an Offer to Lease for approximately 12,200 squarefeet of space at 12059 Harris Road, Pitt Meadows for the purpose of relocating the Pitt MeadowsLibrary in 2011. The lease commenced March 1, 2012, ninety days after the fixturing period, for aterm of ten years. The annual minimum rent is $151,000 and is subject to annual CPI increasesin the second five year period of the term.

i) In October, 2010 the City signed an Offer to Lease for approximately 9,500 square feet of spacein a senior’s residential facility for the purposes of operating a Senior’s Centre. Construction ofthe facility began in 2011, and the lease commenced in January 2013. The term of the lease isforty years plus a 20 year renewal option. The rent for the initial 40 year term is $1,549,506,prepaid at the commencement of the lease in 2013.

j) In February, 2011 the City signed an Operating and Maintenance Agreement with NustadiaRecreation Inc. for the operation and maintenance of the Pitt Meadows Arenas. The agreementwas effective May 1, 2011, with an initial term of five years and four optional renewal periods. Anannual management fee of $100,000 is payable under the agreement (adjusted annually forinflation), with payments due in equal monthly installments.

k) The City has a long-term service agreement with the Province of British Columbia for theprovision of police services by the Royal Canadian Mounted Police with an annual cost ofapproximately $3.3 million. The current agreement commenced April 1, 2012 with an expiry dateof March 31, 2032.

14



13. CONTINGENT LIABILITIES AND COMMITMENTS (continued)

I) In March 2013 the City was the recipient of funds under the Green Municipal Fund (Project10297)— Loan and Grant Agreement in the amount of $3,141,602 in loan proceeds and $378,320in grant proceeds. A portion of the funds have been used to repay the 2012 $3,000,000 balanceof the temporary borrowing for the Facility Construction and Revitalization, Bylaw 2429.

14. BUDGET

The budget amounts which are presented for comparative purposes reflect the statutory balanced budgetas adopted by Council on February 5, 2013 adjusted for amortization and other items for comparabilitywith the actual results.

The following reconciles the balanced statutory budget and the budget surplus reported on theConsolidated Statement of Operations.

2013Budget

Surplus as per Financial Plan Bylaw No. 2586, 2013 $ -

Add:_Budgeted_Capital_ExpendituresGeneral Government Services 806,300Protective Services 24,700Transportation Services 2,210,200Water Services 1,112,000Sewer Services 945,000Drainage Services 6,527,900Recreation and Cultural Services 1,968,500

Budgeted Reduction in Debt Principal 263,551Budgeted Transfer to Own Reserves 7,166,711Gain on Disposal of Tangible Capital Assets (Actual) (53,611)

20,971,251

Less: Budgeted Transfer from Own Reserves 9,337,440Budgeted Proceeds from Borrowing 2,901,000Amortization Expense (Actual) 4,810,081

17,048,521Budget Surplus, as per Consolidated Statement of Operations $ 3,922,730

15. COMPARATIVE FIGURES

Certain comparative figures have been reclassified to conform to the current year presentation.

15

City

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7$

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4

City of Pitt MeadowsConsolidated Schedule of Municipal Property Taxes and Other Tax Levies


Schedule 2

Schedule of Municipal Property Taxes:

2013 Budget 2Ol3ActuaI 2Ol2Actual

Real Property TaxesResidential $ 9,651,951 $ 9,601,469 $ 9,232,696Utilities 233,644 222,641 223,674Majorlndustry 122,321 122,321 119,001Light Industry 695,244 754,385 671,332Business 4,333,593 4,098,516 4,292,573Recreational/Seasonal 226,575 221,018 219,569Farm 439,513 451,264 438,153

15,702,841 15,471,614 15,196,998

Prior Years’ Re-assessments - 48,084 - 28,130 2,527

Total Municipal Property Taxes $ 15,654,757 $ 15,443,484 $ 15,199,525

In addition to its own tax levies, the City is required to collect taxes on behalf of other taxingauthorities, and remit to those authorities. Total taxes levied and remitted are as follows:

2013 2012

Municipal Property Taxes $ 15,443,484 $ 15,199,525

Levies for Other Authorities:Provincial School Taxes 7,868,205 7,879,608Greater Vancouver Transit Authority 1,480,019 1,552,768British Columbia Assessment Authority 236,225 239,977Greater Vancouver Regional District 223,660 214,446Municipal Finance Authority of British Columbia 726 742

9,808,835 9,887,541

Total Tax Levies $ 25,252,319 $ 25,087,066

17

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4,26

7

5,70

7,78

534

3,51

5

CITY OF PITT MEADOWS

Total of other employees with base salary + benefits and other less than $75,000

TOTAL EMPLOYEES

73,90973,909

103,24566,80677,07468,610

103,24673,909

149,481102,478121,469108,41084,06376,19076,19087,446

103,245103,245149,110

69,847100,462

8,1621,4192,5488,522

43512,9183,5111,6641,0836,675

8925,0811,706

14,46713,2281,5763,2295,205

32,86716,80011,811

1,428407330

1,622339

709,8631,5718.5892,8424,338

7324,368

1,5011,1562,4351,854

12,7971,7263,419

2,526,237 30,357 42,551

S 4,498,578 $ 184,155 $ 103,939

*Benefits and Other include taxable benefits (MSP, group life) and lump sum payments Including leave balance payouts (Ia bankedvacation, earned time, acting pay and overtime)

SCHEDULE SHOWING THE REMUNERATION AND EXPENSES PAID TO OR ON BEHALF OF ELECTED OFFICIALS ANDEMPLOYEES

2013ELECTED OFFICIALS:

Benefits

NAME POSITION Base Salary and Other Expenses

WALTERS, DEBRA Mayor 67,002 3,863 5,541

BELL, BRUCE Counciltor 25,126 2,630 -

BING, DOUG Councillor 10,484 1,940 35• ELKERTON, JANIS Councillor 25,126 2,630 2,693

MIYASHITA, TRACY Councillor 25,126 2,630 1,989

MURRAY, DAVID Councillor 25,126 2,630 292

O’CONNELL, GWEN Councillor 25,126 2,630 -

TOTAL ELECTED OFFICIALS $ 203,114 $ 18,952 $ 10,549

OTHER EMPLOYEES (excluding those listed above):

Benefits

NAME POSON Base Salary and Other Expenses

Other employees with base salary + benefits and other greater than $75,000:BROWN, MARTIN Network Specialist Support SystemBRUCE, DAVE Building InspectorCHATTON, ROBERT Assistant Fire Chief-Training OfficerCROWTHER, KELLY Utilities Operator-WaterDEBOER, YNTO (Ike) Engineering Services CoordinatorDOULL, MURRAY Foreman-Public WorksEVANS, RANDY Operations SuperintendantGEMPERLE, CHANTAL Building InspectorGROUT, KIMBERLEY Deputy GAO/Director of Ops. & Dev. ServicesHARDING, CHERYL Manager of Financial ServicesJOLLEY, DONALD Director of Fire ServicesJONES, LORNA Director of Human Resources/CommunicationsKENNEY, KELLY Manager of Legislative ServicesKYLE, SCOTT Fire Safety TechnicianLARSSON, MIKE Fire Safety TechnicianPARR, DANA Planner IIPERRIE, BRAD Assistant Fire ChiefPHILP, DAVE Business AnalystllT CoordinatorRUDOLPH, JAKE Chief Administrative OfficerWILLIAMS, BOB Utilities ForemanZANON, KATE Director of Corporate & Business Services

Prepared under the Financial Information Regulation, Schedule 1, section6(2)(6)-artd (6) OM#1 18780

enttoHer

NG

____________________________

,,0,103.62ATOMIC CRAYON ‘v ..OPMENT LTD

________

28,906.93AURA OFFICE ENVIRONMENTS INC. 57,893.73AV SOLUTIONS

___________________

83,017.35B.C. HYDRO & POWER AUTHORITY

________

544,598.53B.C. PENSION CORPORATION

____

710,125.41BDO DUNWOODY 37,003.00BRANDT TRACTOR LTD.

____

154,438.43BRITISH COLUMBIA LIFE & CASUALTY COMPANY

____

36,966.61CAN DO CONCRETE

____

65,562.00CHEVRON CANADA LTD.

_____

119,786.61CITY OF SURREY

____

37,013.40COBRA ELECTRIC LTD. 28,773.92COLUMBIA BITULITHIC IA DIVISION OF LAFARGE 914,014.30CORIX WATER PRODUCTS LP

____

407,788.03CROCKER EQUIPMENT CO. LTD.

____

115,279.36DAMS FORD LINCOLN SLS LTD

____

124,758.05EfEN BUSINESS

____ ____

36,251.02DIRKS LANDSCAPE DESIGN BUILD LTD.

_____

70,350.00DISTRICT OF MAPLE RIDGE

________

3,316,769.30DOMINIC TRANSPORT LTD.

____

43,465.08FINNING (CANADA) A DIVISION OF FINNING

_____

41,428.40FORTIS BC- NATURAL GAS

_____

35,265.97FRASER RICHMOND SOIL AND FIBRE LTD.

_____

107,817.58FRASER VALLEY REGIONAL IJBRARY

____ ____

873,526.00

G. KOSICKI LTD.

_____

117,787.19GE INTELLIGENT PLATFORMS CANADA

______

4 31,373.80GLE GREEN LANDSCAPE EXPERTS LTD. 29,941.85GOLDEN MEADOWS BILLINGS DEVELOPMENT_LTD.

______

198,447.14GREATER VANCOUVER SEWERAGE & DRAINAGE 1,637,687.46GREATER VANCOUVER WATER DISTRICT 1,687,128.34HANK’S TRUCKING & BULLDOZING 162,163.76INNOVATIVE PARTS & SOLUTIONS LTD. 28,567.62INSIGHT CANADA INC. 55,462.77INTERNATIONAL WATER SCREENS CO. 102,200.02ISL ENGINEERING AND LAND SERVICES LTD 518,630.52iAëKcEwELib. 182,118.32JENT CONSTRUCTION LTD.

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J 79,061.77LEKO PRECAST LTD 27,104.00MAR-TECH UNDERGROUND SERVICES LTD. J 171,934.33MCRAES ENVIRONMENTAL SERVICES LTD. 50,652.92MCRAES POWER SWEEPING LTD 30,075.26MER &COMPANYiNSURANCEEAGENCIES(MlSON)LTD - 26,780OÔMERLETTI CONSTRUCTION (1999) LTD. 1 44,647.98METRO VANCOUVER 470,767.24MILLS BASICS 28,740.42MINISTER OF FINANCE 60,621.50MUF’DCIPAL INSURANCE ASSOCIATION

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j 169,653.00MURDY & MCALLISTER T 55,205.76NUSTADIA RECREATION INC. 25,101.86ONE STOP SAFETY SERVICES CORPORATION 32,187.19

City of Pitt MeadowsSchedule of Payments to Suppliers of Goods and Services

2013

3upplier Name

City of Pitt MeadowsSchedule of Payments to Suppliers of Goods and Services

2013

Aggregate

Supplier Name Payment toSupplier

PACIFIC ACE SPORTS SURFACES & EQUIPMENT LTD 53 728 50PACIFIC BLUE CROSS 123 747 57PAX CONSTRUCTION LTD - 478 579 55PITT RIVER QUARRIES DIV OF LAFARGE CANADA INC 39 98455POLAR INDUSTRIES LTD 29 732 94RAINCITY SUPPLIES LTD 41,489.27RAYBERN ERECTORS LTD 34 031 96RCMP- RECEIVER GENERAL - 3 166 81529RECEIVER GENERAL - PAYROLL DEDUCTIONS 1,349,300.84SANDPIPER CONTRACTING LTD 984,308.24SCADA CONTROLS CENTRAL LTD 84,067.10SOLID FOUNDATIONS CONSULTING LTD. 42,339.57STROHMAI ER’S EXCAVATING LTD. 795,753.25SUDDENSERVICETECHNOLOGIESCORP 84,611.26SULZER PUMPS WASTEWATER CANADA INC. 250,641.97SUTTLE RECREATION INC 70 425 96TELUS I 38840.79TELUS MOBILITY I 30,251.64TELUS SERVICES INC 34,540.80TIMES NEWSPAPER

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25,294.26TOURISM MAPLE RIDGE AND PITT MEADOWS 47,982.52TRB ARCHITECTURE AND INTERIOR DESIGN INC. 239,450.56TUNDRA PLUMBING LTD. 29,476.31URBAN SYSTEMS

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53,977.46VADIM SOFTWARE 29,045.83VERMEER OF BC EQUIPMENT LP 25,189.92WASTE MANAGEMENT OF CANADA CORP 1,276,441.80wESBROOKE RETIREMENT LIMITED PARTNERSHIP 1529,506.00WHOLESALE FIRE & RESCUE LTD 27 307 19WILLIS CANADA (1999) INC. 149,304.00WINVAN PAVING LTD. I 72085.29WOLF FLAGGINGWORKSAFE BC - WORKERS COMPENSATION BOARD

27,509.4451,395.45

TOTAL AMOUNT PAID TO SUPPLIERS WHO rt’,tivtuAGGREGATE PAYMENTS EXCEEDING $25,000 FOR GOODS ANDSERVICES

TOTAL AMOUNT PAID TO SUPPLIERS WHO RECEIVEDAGGREGATE PAYMENTS OF $25,000 OR LESS

TOTAL AMOUNT PAID TO SUPPLIERS FOR GRANTS EXCEEDING$25,000

TOTAL PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES

$25,382,101.73

$2,531,197.67

$0.00

I $27,913,299.40

CORPORATION OF THE CITY OF PITT MEADOWS

STATEMENT OF SEVERANCE AGREEMENTS

There were no severance agreements made between the City of Pitt Meadows and itsnon-unionized employees during fiscal year 2013.

Prepared under the Financial Information Regulation, Schedule 1, subsection 6(8). #119579v1

CORPORATION OF THE CITY OF PITT MEADOWS

STATEMENT OF CONTRACTS WITH COUNCil. MEMBERS OR FORMER COUNCIl. MEMBERS

There were no contracts made between the City of Pitt Meadows and its Council Members orformer Council Members during fiscal year 2013.

#1 19580v1

city of pitt meadows 2013 statement of … statement of financial.… · in 2013, the city adopted...

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