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Home My WebLink AboutStatement of Financial Information 2011DISTRICT OF MAPLE RIDGE 2011 STATEMENT OF FINANCIAL INFORMATION Consolidated Statement of Financial Position as at December 31, 2011 2011 Restated 2010 (Note 12) Financial Assets Cash and temporary investments (Note 1)$26,998,661 $30,062,599 Portfolio investments (Note 1)90,812,593 78,858,466 Accounts receivable (Note 2)17,547,470 16,402,035 Recoverable local improvements (Note 3)1,637,104 2,340,672 Other assets (Note 7)610,856 590,720 Inventory available for resale 187 471,658 137,606,871 128,726,150 Liabilities Accounts payable and accrued liabilities (Note 5)13,142,472 12,221,774 Deferred revenue 8,928,225 12,217,228 Restricted revenue (Note 11)41,042,622 37,176,499 Refundable performance deposits and other 8,964,044 5,812,594 Employee future benefits (Note 8)4,684,900 4,411,500 Long term debt (Note 6, Schedule 4)38,505,484 40,383,494 115,267,747 112,223,089 Net Financial Assets 22,339,124 16,503,061 Non Financial Assets Tangible capital assets (Note 13, Schedule 5)808,444,114 779,162,639 Undeveloped land bank properties (Note 17)14,832,041 14,515,918 Supplies inventory 400,606 394,215 Prepaid expenses 447,067 403,420 824,123,828 794,476,192 Accumulated Surplus (Note 15)$846,462,952 $810,979,253 Paul Gill, CGA Ernie Daykin General Manager, Corporate & Financial Services Mayor, District of Maple Ridge a). The notes to the Consolidated Financial Statements are an integral part of this statement b). Contingencies, Commitments and Unrecognized Liabilities (Note 10) c). Pension Plan (Note 4) Consolidated Statement of Operations For the year ended December 31, 2011 Actual Budget Restated Actual 2011 2011 (Note 14) 2010 (Note 12) Revenue (Segment Report, Note 18) Taxes for municipal purposes (Note 9)$61,065,872 $60,849,203 $57,102,978 User fees and other revenue 32,936,021 33,191,738 31,986,573 Senior government transfers 12,817,578 27,359,427 8,689,257 Development revenue 3,920,831 30,508,556 7,412,119 Interest and investment income Investment Income 951,999 Interest Income 3,076,399 Less: Deferred amount (554,598) Interest and investment income 3,473,800 2,012,000 3,936,552 Gaming revenues 756,427 400,000 125,600 Refinancing and other gains 102,031 -5,327 Gain (loss) on disposal of tangible capital asset (632,238)-(469,150) Contributed tangible capital assets (Note 13)21,582,148 12,250,000 20,765,925 136,022,470 166,570,924 129,555,181 Expenses (Segment Report, Note 18) Protective services 28,793,697 29,661,630 26,763,533 Transportation services 16,152,629 16,581,090 15,281,119 Recreation and cultural 19,729,780 20,987,495 19,251,435 Water utility 10,582,120 12,677,615 10,602,971 Sewer utility 8,798,599 9,623,830 8,340,931 General government 12,816,529 15,381,485 12,813,760 Planning, public health and other 3,665,417 3,928,527 3,637,850 100,538,771 108,841,672 96,691,599 Annual Surplus 35,483,699 57,729,252 32,863,582 Accumulated Surplus - beginning of year 810,979,253 810,979,253 778,115,671 Accumulated Surplus - end of year (Note 15)$846,462,952 $868,708,505 $810,979,253 a). The notes to the Consolidated Financial Statements are an integral part of this statement b). Contingencies, Commitments and Unrecognized Liabilities (Note 10) c). Pension Plan (Note 4) Schedule 4 Continuity Schedule of Long Term Debt For the Year Ended December 31, 2011 Date of Issue/Maturity Bylaw/MFA Function/Purpose Interest Rate Long Term Debts Apr 2005/2027 6246/93 Recreation/Downtown Civic Properties %5.7 Apr 2005/2027 6246/93 General Government/Downtown Office Complex %5.7 Dec 2006/2027 6246/99 General Government/Downtown Office Complex %5.0 Subtotal LESS: Sinking Funds Dec 2006/2027 6246/99 General Government/Downtown Office Complex %5.0 Subtotal Net Amount Dec 31, 2010 Balance Outstanding New Debt Issued During the year Principal/ Sinking Fund Payments Sinking Fund Earnings 2011 Balance Outstanding Interest Paid/ Earned For The Year 23,208,131 -1,082,486 -22,125,645 1,265,437 3,218,400 -150,106 -3,068,294 175,476 16,300,000 ---16,300,000 835,520 42,726,531 -1,232,592 -41,493,939 2,276,433 2,343,037 -547,383 98,035 2,988,455 98,035 2,343,037 -547,383 98,035 2,988,455 98,035 $40,383,494 $-$1,779,975 $98,035 $38,505,484 $2,178,398 "This organization has no guarantees or indemnities under the Guarantees and Indemnities Regulation." The Corporation of the District of Maple Ridge Financial Information Act Schedule of Guarantee and Indemnity Agreements for 2011 Prepared pursuant to the Financial Information Regulation, Schedule 1, Section 1 (1) (d) 1 Elected Officials Name Position Remuneration Benefits Expenses Ashlie, Cheryl Councillor 42,976.21$1,653.24 2,001.55 Bell, Corisa Councillor 2,290.97$121.00 35.61 Daykin, Ernest Mayor 99,615.56$1,808.52 1,918.16 Dueck, Judy Councillor 42,869.76$1,509.24 696.31 Hogarth, Al Councillor 42,834.10$1,509.24 1,662.99 King, Linda Councillor 40,188.36$100.68 4,640.21 Masse, Robert Councillor 2,290.97$109.00 35.61 Morden, Michael Councillor 43,189.28$1,509.24 2,182.98 Speirs, Craig Councillor 40,543.28$201.24 6,283.55 Totals 356,798.49 8,521.40 19,456.97 2 Other Employees (excluding those listed in Part 1 above) Name Position Remuneration Expenses Acharya, Rasika Planner II $86,811.62 $839.80 Armour, Douglas M.Firefighter, Acting Lieutenant $104,902.42 $300.00 Armstrong, Fred Manager Corporate Communications $104,975.83 $969.89 Balatti, Christa Recreation Manager, Health & Wellness $99,511.73 $559.05 Barrett, Kevin G.Firefighter $94,303.12 $2,654.45 Bastaja, John Chief Information Officer $132,800.19 $176.44 Bayley, Christopher C.Fire Captain $114,216.27 $245.00 Benson, Laura Manager of Sustainability & Corp Planning $107,713.63 $1,456.54 Bevilacqua, Jim Fire Captain $120,469.87 $273.00 Blue, Sandra Manager Strategic Economic Initiatives $106,968.44 $8,974.04 Boag, David Director, Parks & Facilities $141,541.55 $756.63 Bonifazi, Marco Firefighter $79,489.87 $0.00 Bruce, Robert Firefighter $87,153.82 $16.28 Bryszewski, Sebastian Firefighter $79,860.12 $130.18 Burrell, Lorne Trades Foreman $79,090.47 $80.00 Butler, Mary Firefighter $83,126.14 $281.01 Carmichael, Russ Director, Engineering Operations $142,676.76 $4,782.36 Carter, Christine Manager of Community Planning $122,939.88 $504.32 Christensen, Robert Fire Captain $101,653.06 $0.00 Cooke, David GIS Coordinator $101,774.96 $2,529.11 Cote-Rolvink, Stephen J.Manager of Inspection Services $107,043.64 $3,052.45 Cotroneo, Tony Recreation Manager, Youth & Neighbourhood Serv $87,528.76 $112.65 Cotter, Steve Firefighter $92,538.58 $150.00 Crabtree, Christina L.Information Services Manager $106,043.65 $31.41 Cramb, Donald B.Senior Recreation Manager, Pitt Meadows Area $116,207.59 $1,519.46 Davis, Craig Firefighter $87,459.69 $0.00 Davis, Jeff Firefighter $85,914.53 $0.00 Denton, Darrell E.Business Retention & Expansion Officer $75,818.19 $4,372.21 Dickson, Janet Senior Analyst Programmer $80,436.40 $3,694.51 Dingwall, William J.Manager of Utility Engineering $121,178.89 $1,852.85 Eng, Michael Traffic & Transportation Technologist $81,423.04 $991.79 for 2011 The Corporation of the District of Maple Ridge Financial Information Act Schedule Showing the Remuneration and Expenses Paid to or on Behalf of Each Employee Prepared under the Financial Information Regulation, Schedule 1, Section 1 (1) (e) and Section 6 (2) (a-d), (3) (b) and Section (6) for 2011 The Corporation of the District of Maple Ridge Financial Information Act Schedule Showing the Remuneration and Expenses Paid to or on Behalf of Each Employee Ettinger, Glenn Firefighter $88,225.43 $0.00 Exner, Howard Fire Assistant Chief, Training & Operations $133,016.44 $1,508.92 Franklin, Steven Fire Captain $104,797.77 $0.00 Gaudette, Christopher Firefighter $83,705.96 $0.00 Gill, Paul GM, Corporate & Financial Services $193,554.16 $5,980.76 Gjaltema, Michael Tradesperson II, Electrician $81,107.65 $61.71 Glasgow, Ian Firefighter $82,122.77 $225.00 Goddard, Charles Manager of Development & Environmental Services $127,358.95 $127.35 Gormley, Kathleen Manager of Business Systems $105,854.96 $2,955.76 Grootendorst, Peter Fire Chief, Director Fire Oper. & Staff Development $148,166.54 $9,039.28 Guerra, Maria Senior Project Engineer $99,563.63 $536.53 Guy, Ronald Engineering Works Inspector $77,402.40 $205.53 Hall, Diana Planner II $86,703.48 $1,507.92 Hansen, Damon Firefighter $84,247.67 $80.00 Harcus, David Fire Captain $107,228.85 $0.00 Hardy, Wayne Superintendent Roads & Equipment $107,390.09 $2,456.92 Harrison, Caroline Network Analyst $75,585.00 $7,435.40 Harwood, Kevin Fire Captain $114,825.23 $0.00 Hayes, Stephen Foreman II $80,103.83 $719.63 Holitzki, Elizabeth Director Licences, Permits & Bylaws $143,307.23 $3,980.85 Hopper, Clinton Firefighter $87,700.01 $0.00 Jonat, Cameron Firefighter $94,624.93 $90.00 Jones, Maureen Senior Manager of Police Services, Finance & Admin $99,801.93 $0.00 Jorde, Shelley Recreation Manager Community Connections $110,104.44 $197.68 Judd, Stephen Manager of Infrastructure Development $103,808.85 $654.17 Juoksu, Paul Building Inspector I $82,520.63 $1,306.77 Juurakko, Timo Fire Asst Chief, Community & Support Services $129,161.55 $3,446.99 Lamont, Kathy I.Personnel Officer $98,356.39 $83.48 Leeburn, John Executive Director to CAO $163,731.31 $1,074.52 Liu, Wilson Geomatics Supervisor $80,647.20 $881.48 Macdonald, Robert Firefighter $94,200.37 $1,977.36 Marlo, Ceri Manager of Legislative Services & Emerg. Program $129,594.86 $2,424.68 McCormick, Wendy Director of Recreation $122,775.60 $1,408.13 McKee, Christopher J.Firefighter, Acting Lieutenant $94,665.47 $0.00 McLeod, Bruce Manager, Parks Planning & Development $109,460.70 $4,008.67 Merenick, Diane Bylaw Services Supervisor $87,313.49 $1,702.65 Mikes, Daniela Manager of Procurement $86,480.32 $11,117.26 Millward, Michael Facilities Operations Manager $110,100.63 $1,543.23 Minaker, Glen Parks Superintendent $92,212.40 $4,272.57 Mitchell, Ed Superintendent Waterworks $112,383.19 $3,105.14 Moore, Kelly Fire Lieutenant $112,235.00 $563.31 Murray, Mike GM, Community Development & Recr.Services $138,212.09 $0.00 Narayan, Sureshwar Senior Analyst Programmer $87,879.37 $3,356.61 Negoita, Victor Electro/Mechanical Manager $107,043.67 $4,040.67 Nolan, Catherine Manager of Accounting $111,119.63 $2,179.27 Oleschak, Walter Foreman II $77,499.99 $0.00 Patel, Brian Recreation Coordinator $86,055.39 $486.22 Perkin, Kevin G.Fire Lieutenant $99,331.76 $27.15 Pickering, Jane Director of Planning $144,975.80 $3,321.03 Porter, Gary K.Fire Lieutenant $105,784.93 $245.00 Quinn, Frank GM, Public Works & Development Services $200,374.87 $1,141.27 Ramsay, Robert Fire Training Officer $112,239.14 $2,839.84 Riach, Ron Property & Risk Manager $103,711.07 $34.00 Prepared under the Financial Information Regulation, Schedule 1, Section 1 (1) (e) and Section 6 (2) (a-d), (3) (b) and Section (6) for 2011 The Corporation of the District of Maple Ridge Financial Information Act Schedule Showing the Remuneration and Expenses Paid to or on Behalf of Each Employee Richmond, Calvin Foreman III $81,133.07 $1,591.87 Rule, James Chief Administrative Officer $246,488.83 $10,125.29 Rutledge, Silvia Manager of Revenue & Collections $107,705.65 $1,434.81 Schurer, Oliver Business Systems Analyst $83,767.80 $0.00 Serediuk, Sean Network Support Specialist $85,805.98 $189.52 Serne, Bernie Superintendent Sewer works $110,757.39 $2,141.31 Seward, Adam R.Firefighter, Acting Lieutenant $97,983.78 $0.00 Sinclair, James G.Fire Captain $109,729.48 $28.00 Smitton, Mark Fire Asst Chief, Fire Prevention & Communications $122,737.09 $2,605.27 Snow, Roy C.Firefighter, Acting Lieutenant $97,912.09 $476.18 Spence, Dane Fire Chief, Director Community Fire Safety Services $150,298.10 $10,155.90 Stewart, Michael Fire Captain $120,239.38 $0.00 Stott, Rodney C.Environmental Planner $86,030.78 $2,642.39 Swift, Kelly GM, Community Development, Parks & Recreation $154,999.86 $4,513.62 Teboekhorst, Dennis Fire Lieutenant $120,786.92 $0.00 Thompson, Trevor Manager of Financial Planning $117,202.55 $3,518.37 Todd, Thomas Foreman III $84,555.97 $131.57 Traviss, Stephen Senior Human Resources Officer $107,218.33 $2,120.09 Van Dop, Michael J.Firefighter, Acting Asst Fire Chief, Planning & Prev.$85,480.66 $329.00 Van Tunen, Randolph Foreman III $77,065.64 $27.17 Vandenbor, Paul J.Engineering Works Inspector $77,122.37 $0.00 Varcoe, Thomas Foreman II $86,523.49 $0.00 Veasey, Daryl Meter Maintenance Worker $76,984.16 $86.93 Vinje, Brock Firefighter $86,981.57 $0.00 Wetherill, Michelle Manager, Payroll & Employee Relations $104,223.61 $26.79 Wheeler, Susan Director of Community Services $122,320.39 $345.88 Wilson, Davin Engineering Technologist I $75,090.46 $2,471.88 Wing, Graham Firefighter $82,159.88 $100.00 Wong, Richard Manager of Design & Projects $121,553.43 $2,943.81 Wood, Andrew Municipal Engineer $161,106.59 $4,810.19 Zosiak, Lisa A.Planner II $86,873.53 $9,255.78 Subtotal $12,162,786.56 $197,727.74 Consolidated Total of 17,862,545.07 104,800.27 Employees with remuneration less than $75,000 Total All Employees 30,025,331.63 302,528.01 3 Reconciliation Total remuneration Elected Officials 356,798.49 Other Employees 30,025,331.63 Subtotal 30,382,130.12 Other reconciling Items Prepared under the Financial Information Regulation, Schedule 1, Section 1 (1) (e) and Section 6 (2) (a-d), (3) (b) and Section (6) for 2011 The Corporation of the District of Maple Ridge Financial Information Act Schedule Showing the Remuneration and Expenses Paid to or on Behalf of Each Employee Employer portion of: CPP 922,114.12 EI 436,181.42 Accruals 230,067.17 WCB 390,116.62 Pension 2,360,765.00 Other employer costs 1,212,788.55 (Medical, Dental, etc) Wages & Salaries per pg 17, Financial Statements 35,934,163.00 Prepared under the Financial Information Regulation, Schedule 1, Section 1 (1) (e) and Section 6 (2) (a-d), (3) (b) and Section (6) 1 Alphabetical list of suppliers who received aggregate payments exceeding $25,000 Supplier Name Aggregate amount paid to supplier 775983 BC Ltd 80,511 A & A Testing Ltd 26,272 A & G Supply Ltd 56,556 A & H Drilling Ltd 26,447 A T & H Industries Inc 225,001 Accent Glass & Locksmith 56,641 ACM Environmental Corporation 71,795 Active Network Ltd 36,023 Adopt A Block Society 25,000 Advanced Drive Systems Inc 28,734 Aecom Canada Ltd 142,031 Alliance Painting & Decorating 26,012 Allstar Show Industries Inc 75,904 Allstream 37,962 Amec Earth & Environmental Ltd 36,245 Andrew Sheret Ltd 68,387 Aplin & Martin Consultants Ltd 96,882 Arbor Pro Tree Services Ltd 79,335 Atomic Crayon 30,707 AW Fire Guard & Supplies Ltd 33,361 Basic Business Systems (1995)42,701 BC Hydro 1,309,451 BC SPCA 955,261 BDO Canada LLP 82,933 BFI Canada Vancouver 120,330 Billesberger, Valerie 66,837 Black Press Group Ltd 42,206 Bob's A-Z Rentals Ltd 32,693 Boileau Electric & Pole Ltd 454,172 Brandt Tractor Ltd 221,962 Bray, Ronald & Kristina & Ingram, Guy 364,000 Business In Vancouver Media Group 31,371 Bynett Construction Services 207,772 Canada Pipe Company Ltd 33,110 Canadian Lawn Care Services 686,752 Canadian Pacific Railway 98,255 Carter Pontiac Buick Ltd 25,836 CDW Canada Inc 31,373 Centimark Corporation 64,533 Chevron Canada Ltd 825,762 City Of Coquitlam 46,994 City Of Pitt Meadows 289,999 Co Van International Trucks 320,888 Coast Water Systems Inc 41,584 Columbia Bitulithic Ltd 390,464 Commercial Aquatic Supplies 34,635 Commercial Solutions Inc 37,794 Co-Pilot Industries 121,921 Corix Water Products 48,601 Creative Transportation 27,806 Cross, Connie 50,540 Crown Contracting Limited 54,348 CSDC Systems Inc 67,034 Cubex Limited 189,064 Dams Ford Lincoln Sales Ltd 51,420 David Butcher Law Corporation 40,988 Deccan International 29,414 The Corporation of the District of Maple Ridge Financial Information Act Schedule Showing Payments Made for the Provision of Goods or Services for 2011 Prepared under the Financial Information Regulation, Schedule 1, Section 1 (1) (f) and Section 7 (1) (a-c) and (2) (b) The Corporation of the District of Maple Ridge Financial Information Act Schedule Showing Payments Made for the Provision of Goods or Services for 2011 Delcan Corporation 47,693 Dell Canada Inc 53,153 Directional Mining & Drilling 331,996 Dixon Networks Corporation 43,800 Double M Excavating Ltd 10,479,229 Douglas Lake Equipment 69,818 DSD Document Systems Direct Ltd 61,063 Durante Kreuk Ltd 56,026 Eagle Bridge Inc 118,579 EBA Engineering Consultants 33,067 Emerald Green Building Service 32,610 Emergency Communications SW BC 965,684 Empire Signworks Inc 50,168 ESRI Canada Limited 68,375 Farm Tek Turf Services Inc 49,656 FDM Software Ltd 59,091 Finning International Inc 32,544 Fitness Edge 209,633 Fitness Fixations 44,474 Fortis BC Energy Inc 39,037 FortisBC - Natural Gas 177,885 Fraser Valley Regional Library 2,488,982 Fred Surridge Ltd 87,428 Gibson Waterworks Supply Inc 78,094 Golden Ears Ortho & Sports 31,433 Golder & Associates 113,252 Greater Vancouver Sewerage & Drainage 32,895 Greater Vancouver Water District 6,158,632 Greater Vancouver Regional District 27,149 Green Landscape Experts Ltd 31,451 Guest Excavating Company Ltd 30,912 Guild, Yule & Company LLP 25,327 Guillevin International Inc 185,111 Halcrow Consulting Inc 44,740 Hanks Trucking And Bulldozing 63,659 Happy Heart Fitness & Education 101,418 HB Lanarc 44,272 Heenan Blaikie LLP 52,003 ICBC - Fleet Insurance 161,306 Imperial Paving 2,385,408 Inprotect Systems Inc 73,221 Integrated Direct Response Service 33,259 Interprovincial Traffic Services 126,665 ITT Water & Waste Water 56,662 Jack 4 Trade 46,566 Jacks Automotive & Welding 172,525 Justice Institute Of BC 42,982 Kainth, Gurmel 1,128,177 KBS Developments 31,094 Kerr Wood Leidal Associates 58,803 Lafarge Canada Inc 34,705 Langley Concrete Group 55,643 Landmark Enterprises 727,096 Leko Precast Products 75,824 Letts Environmental Consultant 67,352 Levelton Consultants Ltd 48,828 Lordco Parts Ltd 25,175 M2K Construction Ltd 594,625 Manulife Financial 942,319 Maple Ridge & PM Arts Council 747,307 Prepared under the Financial Information Regulation, Schedule 1, Section 1 (1) (f) and Section 7 (1) (a-c) and (2) (b) The Corporation of the District of Maple Ridge Financial Information Act Schedule Showing Payments Made for the Provision of Goods or Services for 2011 Maple Ridge Historical Society 134,515 McElhanney Consulting Services 73,861 Medical Services Plan 246,443 Metro Motors Ltd 225,019 Microserve 212,655 Microsoft Licensing 117,718 Miles Mobile Tire Service Ltd 43,770 Mills Printing & Stationery 75,730 Min Of Finance Dept Of Transp.26,809 Mintha, Alfay & Sharon 380,439 Mission Contractors Ltd 200,880 MJT Enterprises Ltd 67,715 MMM Group Limited 51,104 Mobilecom Radio Company 26,795 Morrow Bioscience Ltd 31,744 Municipal Insurance Assoc 398,963 Municipal Pension Plan 2,365,417 Myra Systems Corp.30,838 Newlands Lawn & Garden Mainten 107,901 Norpac-Div Of Spartan Controls 28,856 North Of 49 Enterprises Ltd 40,799 North-Arm Machine Ltd 94,715 Northwest Hydraulic Consultant 40,948 Now Solutions 49,924 Oakcreek Golf & Turf Inc 64,411 Ocean Pipe T6045 51,793 Open Storage Solutions 34,706 Oracle Corporation Canada Inc.44,486 Pacific Ace Sports Surfaces 83,849 Pacific Flow Control Ltd 52,177 Panorama LMS 4011 116,320 Paragon Engineering Ltd 38,798 Pattison Sign Group 105,350 Paul Bunyan Tree Services 69,151 Pedre Contractors Ltd 419,331 People First Solutions 61,264 Phoenix Environmental Services 56,802 Pitneyworks Prepaid 33,600 Pitt Meadows Heritage & Museum 75,134 Popular Landscaping & Gardening 25,066 Precise Crossings Ltd 697,165 Prestige Telecom 49,411 Pro Sound & Stage Lighting Ltd 39,109 Professional Mechanical Ltd 200,135 Profire Emergency Equipment 57,887 Progressive Contracting Ltd 509,514 PW Trenchless Construction Inc 262,675 Raincity Janitorial Serv Ltd 342,326 Raybern Erectors Ltd 75,183 RCMP 12,587,566 RCR Technologies Inc 26,249 Receiver General-Payroll Deduction 1,357,302 Reliable Flagging Services Ltd 39,152 Remdal Painting & Restoration 66,373 RF Binnie & Associates Ltd 72,947 RG Arenas (Maple Ridge) Ltd 675,538 RGM Landscaping & Maint. Ltd 34,653 Ridge Meadows Seniors Society 189,895 Ridge Meadows Recycling Society 1,138,912 RJ Construction 120,036 Prepared under the Financial Information Regulation, Schedule 1, Section 1 (1) (f) and Section 7 (1) (a-c) and (2) (b) The Corporation of the District of Maple Ridge Financial Information Act Schedule Showing Payments Made for the Provision of Goods or Services for 2011 Robson Crushing & Demolition 55,547 Rocky Mountain Phoenix 28,175 Rogers 129,261 Rollins Machinery Ltd 29,910 Ross Systems Inc 108,514 Sandpiper Contracting Ltd 310,956 School District#42 39,635 Scottish Line Painting Ltd 132,164 Seal Tec Industries Ltd 30,862 Shades Of Green Landscaping 44,442 Smart-Tek Communications Inc 43,596 Smithrite Portable Services 37,505 Specimen Trees 29,684 Springford, Nicola 53,323 Star Five Classic Country 55,335 Surfwood Supply Coquitlam 51,703 Surrey Fire Service 84,054 T & T Demolition Ltd 234,363 Tag Construction Ltd 189,124 Telus 161,053 Tempest Development Group 121,710 Terasen Gas 66,358 Thistle Plumbing Limited 28,377 Tikal Construction Ltd.109,673 Total Energy Systems Ltd 93,586 Tourism Maple Ridge & Pitt Meadows 42,749 Tundra Plumbing Ltd 113,487 Union of BC Municipalities 28,980 Universal Contracting Ltd.241,775 Valley Landscaping Ltd 106,255 Valley Traffic Systems Inc 174,605 Van Houtte Coffee Services Inc 47,083 Warrington PCI Management 851,254 Wedler Engineering 231,730 West Coast Elevator Services 87,857 Westridge Security Services 79,639 Westview Sales Ltd 71,157 Willis Canada Inc 211,691 Winvan Paving Ltd 109,896 Wireless Technical Services 39,922 Wolf Electric Ltd 49,000 Workers Compensation Board 402,798 Young, Anderson - Barristers 207,764 Zoom Audio Visual Networks Inc 26,593 Total aggregate amount paid to suppliers 69,397,466$ 2 Consolidated total paid to suppliers who received aggregate payments of $25,000 or less 4,731,675$ 3 Total of payments to suppliers for grants and contributions exceeding $25,000 Consolidated total of grants exceeding $25,000 223,141 Consolidated total of contributions exceeding $25,000 0 Consolidated total of all grants and contributions exceeding $25,000 223,141$ Prepared under the Financial Information Regulation, Schedule 1, Section 1 (1) (f) and Section 7 (1) (a-c) and (2) (b) The Corporation of the District of Maple Ridge Financial Information Act Schedule Showing Payments Made for the Provision of Goods or Services for 2011 4 Reconciliation Total of aggregate payments exceeding $25,000 paid to suppliers $69,397,466 Consolidated total of payments of $25,000 or less paid to suppliers $4,731,675 Consolidated total of all grants and contributions exceeding $25,000 $223,141 Reconciling items Explanation below Total per Financial Statements, Expenditures & Expenses, Goods & Services including Capital $71,681,325 Variance $(2,670,956) Expenditures in the statements are on an accrual basis, whereas amounts paid are on a cash basis. It is important to note that not all payments are expenditures and that not all expenditures are payments. It is not practical to reconcile to those sets of data. Prepared under the Financial Information Regulation, Schedule 1, Section 1 (1) (f) and Section 7 (1) (a-c) and (2) (b) Consolidated Statement of Cash Flow For the year ended December 31, 2011 Actual Restated Actual 2011 2010 (Note 12) Operating transactions Annual surplus $35,483,699 $32,863,582 Items not utilizing cash Amortization 17,267,869 16,779,709 Loss on disposal of tangible capital assets 632,238 469,150 Contributed tangible capital assets (21,582,148)(20,765,925) Restricted revenues drawn in (3,615,693)(6,653,251) (7,297,734)(10,170,317) Change in non-cash operating items Increase in prepaid expenses (43,647)(26,592) Decrease (increase) in supplies inventory (6,391)(16,872) Decrease (increase) in accounts receivable (1,145,435)(3,247,436) Decrease (increase) in recoverable local improvements 703,568 85,249 Decrease (increase) in other assets (20,136)(11,700) Decrease (increase) in inventory available for resale 471,471 - Increase (decrease) in accounts payable and accrued liabilities 920,698 76,410 Increase (decrease) in deferred revenue (3,289,003)(796,741) Increase (decrease) in refundable performance deposits 3,151,452 (549,472) Increase (decrease) in employee future benefits 273,400 (57,200) 1,015,977 (4,544,354) Cash provided by operating transactions 29,201,942 18,148,911 Capital transactions Proceeds on disposal of tangible capital assets 820,825 478,083 Cash used to acquire tangible capital assets (26,420,261)(24,814,555) Cash used to acquire land bank properties (316,123)(3,684,034) Cash applied to capital transactions (25,915,559)(28,020,506) Investing transactions Decrease (increase) in portfolio investments (11,954,127)4,810,694 (11,954,127)4,810,694 Financing transactions Debt repayment (1,878,010)(1,845,809) Collection of restricted revenues 7,481,816 7,672,543 Cash applied to financing transactions 5,603,806 5,826,734 Increase in cash and temporary investments (3,063,938)765,833 Cash and temporary investments - beginning of year 30,062,599 29,296,766 Cash and temporary investments - end of year $26,998,661 $30,062,599 Supplementary information: Non-cash transactions: Transfer from undeveloped landbank properties to tangible capital assets -239,700 Transfer from inventory available for resale to tangible capital assets 471,471 - a). The notes to the Consolidated Financial Statements are an integral part of this statement b). Contingencies, Commitments and Unrecognized Liabilities (Note 10) c). Pension Plan (Note 4) Consolidated Statement of Change in Net Financial Assets For the year ended December 31, 2011 Actual Budget Restated Actual 2011 2011 (Note 14) 2010 (Note 12) Annual Surplus $35,483,699 $57,729,252 $32,863,582 Add (Less): Change in Tangible Capital Assets Acquisition of tangible capital assets (48,002,409)(111,830,820)(45,820,180) Amortization 17,267,869 17,369,969 16,779,709 Proceeds from disposal of tangible capital assets 820,825 -478,083 Loss(gain) on disposal of tangible capital assets 632,238 -469,150 (29,281,477)(94,460,851)(28,093,238) Change in Other Non Financial Assets Decrease (increase) in supplies inventory (6,389)-(16,872) Reclassification of undeveloped land bank --239,700 Acquisition of land bank properties (316,123)-(3,684,034) Decrease (increase) in prepaid expenses (43,647)-(26,592) (366,159)-(3,487,798) Increase (decrease) in Net Financial Assets 5,836,063 $(36,731,599)1,282,546 Net Financial Assets beginning of the year 16,503,061 16,503,061 15,220,515 Net Financial Assets end of the year $22,339,124 $(20,228,538)$16,503,061 a). The notes to the Consolidated Financial Statements are an integral part of this statement b). Contingencies, Commitments and Unrecognized Liabilities (Note 10) c). Pension Plan (Note 4) Notes to the Consolidated Financial Statements For the year ended December 31, 2011 1.Cash and Investments Cash and Temporary Investments: Cash and temporary investments as at December 31, 2011 were comprised as follows: Dec 31, 2011 Dec 31, 2010 Cash $4,929,549 $3,062,549 Temporary Investments 22,069,112 27,000,050 $26,998,661 $30,062,599 Temporary investments are comprised of BC Credit Union term deposits with effective interest rates of 1.6% - 2.00%. Additionally, the District holds temporary investments of $1,652,394 ($1,443,453 for 2010) and agreements receivable of $258,450 ($159,918 for 2010) for trusts which are not reported elsewhere in the financial statements. They are held for the following trusts: Balance Dec 31, 2010 Interest Earned Receipts Disbursements Balance Dec 31, 2011 Latecomer Fees $59,059 $-$93,390 $87,226 $65,223 Cemetery Perpetual Care 774,062 99,878 50,978 99,878 825,040 Greater Vancouver Sewer & Drainage District 340,831 -750,018 621,754 469,095 Albion Dyking District 429,419 106 133,187 11,226 551,486 $1,603,371 $99,984 $1,027,573 $820,084 $1,910,844 Portfolio Investments Portfolio investments include Canadian bank notes and BC Credit Union term deposits with effective interest rates of 1.90% - 6.43%. A portion of the bank notes held have interest payments linked to the performance of a set of equities or a financial index without stated or certain interest rates. For these investments, income is recognized as it is received; in 2011 returns were positive and ranged to 5.44%. Included in interest earnings are gains on the sale of investments before maturity. In 2011 gains totalled $1,148,044 ($864,050 for 2010). The District does not hold any asset backed commercial paper or hedge funds. The carrying value of securities is based on the cost method whereby the cost of the security is adjusted to reflect investment income that is accruing and any permanent decline in market value. During the term of individual investments there will be fluctuations in market values. Such fluctuations are considered normal, and if held to maturity, market value will be equal to face value. The carrying value of Portfolio Investments at December 31, 2011 was $90,812,593 ($78,858,466 for 2010). The market value at December 31, 2011 was $90,362,851 ($80,409,332 for 2010), included in this amount is $nil ($500,000 for 2010) for securities shown at cost for investments for which there is no active market. 2.Accounts Receivable 2011 2010 Property Taxes $6,258,187 $5,749,866 Other Governments 4,770,393 4,211,654 General and Accrued Interest 2,531,650 2,063,871 Development Cost Charges 4,163,340 4,532,167 17,723,570 16,557,558 Less: Allowance for Doubtful Accounts (176,100)(155,523) $17,547,470 $16,402,035 3.Recoverable Local Improvements The District provides interim financing for certain geographically localized capital projects. It recovers these amounts either from benefiting property owners or from provincial subsidies. Interest rates are established at the outset of the process and are a function of borrowing rates at the time. Repayment is typically made over fifteen years. As at December 31, 2011 the recoverable balance was comprised as follows: 2011 2010 Recoverable from property owners Local improvement fund projects $1,637,104 $2,216,485 Recoverable from Province Sewerage projects -124,187 $1,637,104 $2,340,672 4.Pension Plan The District and its employees contribute to the Municipal Pension Plan (Plan), a jointly trusteed pension plan. The board of trustees, representing plan members and employers, is responsible for overseeing the management of the Plan, including investment of the assets and administration of benefits. The Plan is a multi-employer contributory pension plan. Basic pension benefits provided are defined. The plan has about 173,000 active members and approximately 63,000 retired members. Active members include approximately 35,000 contributors from local governments. The latest valuation as at December 31, 2009 indicated an unfunded liability of $1,024 million for basic pension benefits. The next valuation will be as at December 31, 2012 with results available in 2013. Defined contribution plan accounting is applied to the Plan as the Plan exposes the participating entities to actuarial risks associated with the current and former employees of other entities, with the result that there is no consistent and reliable basis for allocating the obligation, Plan assets and cost to individual entities participating in the Plan. The District paid $2,360,765 (2010 -$2,099,231 ) for employer contributions to the Plan in fiscal 2011, while employees contributed $1,946,622 (2010 - $1,727,051) to the plan in fiscal 2011. 5.Accounts Payable and Accrued Liabilities 2011 2010 Accounts Payable: General $5,093,886 $4,861,622 Other Governments 6,741,112 6,050,779 Salaries and Wages 663,536 620,986 12,498,534 11,533,387 Accrued Liabilities: Vacation Pay 264,805 334,949 Other Vested Benefits 379,133 353,438 643,938 688,387 $13,142,472 $12,221,774 6.Long Term Debt (Schedule 4) The District obtains debt instruments through the Municipal Finance Authority (MFA), pursuant to security issuing bylaws under authority of the Community Charter, to finance certain capital expenditures. Debt is reported net of Sinking Fund balances and interest expense is reported net of Sinking Fund earnings. The District carries no debt for others. Debt issued and outstanding as at December 31, 2011 was $38,505,484 ($40,383,494 for 2010). In 2012 the District will enter into additional debt totalling $5.52M under loan authorization bylaw numbers 6659, 6560, 6562 and 6679. The amounts payable over the next five years reflect the District's commitment for both existing debt and amounts that will be borrowed in 2012. The following debenture debt amounts plus related interest are payable over the next five years: 2012 2013 2014 2015 2016 $1,814,777 $2,428,959 $2,488,890 $2,550,786 $2,614,712 The District has the following authorized but un-issued long term debt as at December 31, 2011 : L/A Bylaw L/A Amount Expiry Date #6558 $6,000,000 July 2013 #6559 1,520,000 July 2013 #6560 900,000 July 2013 #6561 10,671,185 July 2013 #6562 2,675,000 July 2013 #6679 1,800,000 September 2014 #6680 4,680,000 September 2014 $28,246,185 7.Other Assets Debt Reserve Fund: The Municipal Finance Authority of British Columbia provides capital financing for regional districts and their member municipalities. The Authority is required to establish a Debt Reserve Fund. Each regional district, through its member municipalities who share in the proceeds of a debt issue, is required to pay into the Debt Reserve Fund certain amounts set out in the debt agreements. The Authority pays into the Debt Reserve Fund these monies from which interest earned thereon less administrative expenses becomes an obligation to the regional districts. It must then use this fund, if at any time there are insufficient funds, to meet payments on its obligations. If this occurs, the regional districts may be called upon to restore the fund. Upon the maturity of a debt issue the unused portion of the Debt Reserve Fund established for that issue will be discharged to the District. The District has estimated that there is only a remote possibility that these funds will not be paid to it and therefore these funds have been included in Other Assets of $610,856 ($590,720 for 2010). 8.Employee Future Benefits The District provides employee future benefits in the form of severance benefits and vested and non-vested sick leave to qualifying employees. These benefits are not separately funded. Severance benefits are cash settlements paid to employees who cease their employment with the District after a specified period of time. Full time employees hired before February 11, 1999 qualify for five days pay per year of employment, provided they either work a minimum of 20 years with the District or retire as defined by the Public Sector Pension Plan Act. Full time employees hired after February 11, 1999 qualify for 20 days pay provided they work a minimum of 10 years with the District and retire as defined by the Public Sector Pension Plan Act. The District permits full time employees to accumulate up to 18 days per year of service for future illnesses up to a maximum of 250 days. For certain qualifying employees a portion of this benefit vests; for the balance, this benefit does not vest and cannot be converted to any other type of benefit. An actuarial valuation of these benefits was performed to determine the District's liability and accrued benefit obligation as at December 31, 2009 and updated for December 31, 2011. The valuation resulted in an unamortized actuarial loss of $700,900 ($486,900 loss for 2010 ) at December 31, 2011. Actuarial gains or losses are amortized over the expected average remaining service life of employees. The benefit liability at December 31, 2011 was $4,684,900 , ($4,411,500 for 2010) comprised as follows: 2011 2010 Benefit Liability - Beginning of the year $4,411,500 $4,468,700 Add:Current service costs 341,900 313,800 Interest on accrued benefit obligation 213,400 224,900 Less:Amortization of actuarial loss (gain)44,500 13,200 Benefits paid during the year (326,400)(609,100) Benefit Liability - End of the year 4,684,900 4,411,500 Less:Unamortized actuarial loss (gain)700,900 486,900 Accrued benefit obligation - End of the year 5,385,800 4,898,400 Actuarial assumptions used to determine the District's accrued benefit obligation are as follows: 2011 2010 Discount rate (long-term borrowing rate)3.40 %4.25 % Expected future inflation rate 2.50 %2.50 % Merit and inflationary wage and salary increases averaging 4.55 %4.55 % Estimated average remaining service life of employees (years)10.3 10.3 9.Property Tax Levies In addition to its own tax levies, the District is required to levy taxes on behalf of various other taxing authorities. These include the provincial government for local school taxes, incorporated dyking districts located within the District and, organizations providing regional services in which the District has become a member. Total tax levies for 2011 of $98,359,060 , ($93,932,367 for 2010) were comprised as follows. 2011 2010 Municipal Tax Levies $61,065,872 $57,102,978 Levies for other authorities School taxes 29,434,404 28,992,968 Greater Vancouver Transit Authority 5,623,557 5,664,892 British Columbia Assessment Authority 897,324 894,907 Greater Vancouver Regional District Parks 904,315 883,862 Dyking Districts 430,826 390,170 Municipal Finance Authority 2,762 2,590 Total Collections for Others 37,293,188 36,829,389 Total Tax Levies $98,359,060 $93,932,367 10.Contingencies, Commitments and Unrecognized Liabilities: (a)Third Party Claims Where losses related to litigation are possible and can be reasonably estimated management accrues its best estimate of loss. For 2011 this estimate is $458,860 ($483,949 for 2010). These amounts are included in accounts payable and accrued liabilities. There are various other claims by and against the District, the outcome of which cannot be reasonably be estimated. Any ultimate settlements will be recorded in the year the settlements occur. (b)Contractual Obligations (i)Water (a)The District has entered into a cost share agreement with the Greater Vancouver Water District for the construction of infrastructure. Under this agreement the District expects to incur costs of approximately $6,985,712 over the next 3 years. The liability is recorded as the related costs are incurred. (ii)Recreation and Cultural Services (a)In 1998 the District entered into an agreement to purchase ice sheet time for five years commencing in 1999, with a five-year renewal option. In August 2008, the District renewed the agreement for an additional five-year period. The minimum annual payment due for the provision of ice time is $609,225. These payments are recorded as expenses when the ice time is provided. (c)Unrecognized Liability The District holds shares in a non-profit organization that provides protective services to its members. Should the organization dissolve or management choose to withdraw from the organization the District would be liable for a proportionate share of any debt the organization held at that time. The liability is expected to be discharged over time through payments by the District and others for the provision of these services by the organization. Due to the ongoing operations of the organization the liability could only be quantified if the District chose to withdraw. Consequently no liability has been recognized in these financial statements. 11.Restricted Revenues Restricted revenues held by the District as at December 31, 2011 of $41,042,622 , ($37,176,499 for 2010) were comprised as follows: Development Cost Charges Parkland Acquisition Charges Actual Actual Actual Actual 2011 2010 2011 2010 Beginning Balance $32,211,726 $31,644,928 $162,355 $- Collections and interest 7,020,123 7,174,886 166,482 173,961 Disbursements - operating (610,934)(1,282,185)-- Disbursements - capital (2,959,941)(5,325,903)(33,755)(11,606) Ending Balance $35,660,974 $32,211,726 $295,082 $162,355 Other Restricted Revenues Total Restricted Revenues Actual Actual Actual Actual 2011 2010 2011 2010 Beginning Balance $4,802,418 $4,512,279 $37,176,499 $36,157,207 Collections and interest 295,212 323,696 7,481,817 7,672,543 Disbursements - operating (11,064)(33,557)(621,998)(1,315,742) Disbursements - capital --(2,993,696)(5,337,509) Ending Balance $5,086,566 $4,802,418 $41,042,622 $37,176,499 12.Prior Period Adjustments In 2009, the District adopted the provisions of Section 3150 of the PSAB Handbook and recorded the District's tangible capital assets, net of related amortization, as non-financial assets. During 2011, additional information became available about the District's inventory of tangible capital assets and the financial statements have been retroactively adjusted. The change represents less than 0.5% of tangible capital assets. The impact of these changes was to: - Increase opening accumulated surplus by $333,832 - Increase closing accumulated surplus by $3,729,991 as follows: 2010 2010 (restated)(previously reported) Net Financial Position $16,503,061 $16,503,061 Tangible capital assets (book value)779,162,639 775,432,647 Undeveloped land bank 14,515,918 14,515,918 Other non-financial assets 797,635 797,635 Accumulated Surplus $810,979,253 $807,249,261 - Increase annual surplus by $3,396,159 as follows: 2010 2010 (restated)(previously reported) Revenues $129,555,181 $126,130,641 Expenses (expenditures) other than capital and amortization 79,911,890 79,911,890 Amortization expense 16,779,709 16,751,328 Annual Surplus 32,863,582 29,467,423 13. Tangible Capital Assets Net book value 2011 2010 (restated) Land $163,746,422 $152,958,988 Buildings 54,492,347 56,027,780 Transportation network 188,149,163 187,574,645 Storm system 159,840,958 155,343,455 Fleet and equipment 12,531,688 12,975,149 Technology 3,822,127 3,682,668 Water system 95,625,842 93,146,901 Sanitary system 117,602,837 106,215,140 Other 12,632,730 11,237,913 $808,444,114 $779,162,639 For additional information, see the Schedule of Tangible Capital Assets (Schedule 5) During the year there were no write-downs of assets (2010 - $Nil) and no interest was capitalized (2010 - $Nil). In addition, roads and related infrastructure, underground networks and technology assets contributed to the District totaled $21,582,148 ($20,765,925 for 2010) and were capitalized at their fair value at the time of receipt. Property with a book value of $471,471, listed as available for sale at the end of 2010, was reclassified to tangible capital assets during the year. Works of art, artifacts, cultural and historic assets are not recorded as assets in the financial statements. The District controls various works of art and historical treasures including artifacts, paintings, sculptures and mosaics located at District sites and public display areas. 14. Budget Budget amounts represent the Financial Plan Bylaw adopted by Council on May 10, 2011. The Financial Plan anticipated use of suprluses accumulated in previous years to balance against current year expenditures in excess of current year revenues. The following shows how these amounts were combined: Financial Plan Bylaw Financial Statement Budget Revenue Taxation $60,849,203 $60,849,203 User fees and other revenue 33,191,738 33,191,738 Other 60,279,983 60,279,983 Contributed subdivision infrastructure 12,250,000 12,250,000 Total Revenue 166,570,924 166,570,924 Expenses Protective services 29,661,630 29,661,630 Transportation services 16,581,090 16,581,090 Recreation and cultural 20,987,495 20,987,495 Water utility 12,677,615 12,677,615 Sewer utility 9,623,830 9,623,830 General Government 15,381,485 15,381,485 Planning, public health and other 3,928,527 3,928,527 Total expenses 108,841,672 108,841,672 Annual Surplus $57,729,252 $57,729,252 Less: Capital expenditures 111,830,820 Debt repayment 4,741,276 Add: Interfund transfers 18,734,460 Amortization 17,369,969 Borrowing proceeds 22,738,415 $- 15.Accumulated Surplus Accumulated Surplus is comprised of operating surpluses and equity in tangible capital assets held in the general, sewer and water funds as well as reserves. Accumulated surplus for 2011 is $846,462,952 ($810,979,253 for 2010) and is distributed as follows: 2011 Restated 2010 Operating surplus (Schedule 1)General $5,750,719 $5,156,074 Sewer 2,508,311 2,515,823 Water 3,176,352 3,638,446 11,435,382 11,310,343 Equity in tangible capital assets (Schedule 2)General 566,526,923 552,530,544 Sewer 119,059,516 107,667,501 Water 96,533,666 93,962,893 782,120,105 754,160,938 Reserves (Schedule 3)Funds 25,144,547 21,275,267 Accounts 27,762,918 24,232,705 52,907,465 45,507,972 Accumulated Surplus $846,462,952 $810,979,253 16. Expenditures and Expenses by Object Operations Capital Acquisitions 2011 Total 2011 Budget Restated 2010 Total Goods and services 45,780,996 25,900,329 71,681,325 154,177,700 72,332,910 Wages and salaries 35,098,108 836,055 35,934,163 35,597,288 33,608,597 Interest 2,391,798 -2,391,798 3,136,550 2,468,972 Total Expenditures 83,270,902 26,736,384 110,007,286 192,911,538 108,410,479 Amortization expenses 17,267,869 -17,267,869 17,369,969 16,779,709 Contributed tangible capital assets -21,582,148 21,582,148 12,250,000 20,765,925 Total Expenditures and Expenses 100,538,771 48,318,532 148,857,303 222,531,507 145,956,113 17.Undeveloped Land Bank The District owns property in various areas identified for future growth in the Official Community Plan. These properties are not currently used in the provision of service to the citizens of Maple Ridge. The properties represent a strategic, non-renewable resource available for the advancement of Councils' strategic plan. In 2011, the District acquired land bank properties valued at $316,123. 18.Segmented Information This District is a diversified municipal government entity in the province of British Columbia that provides a wide range of services to its citizens. Municipal services have been segmented by grouping activities that have similar service objections (by function) and separately disclosed in the segment report. Where certain activities cannot be attributed to a specific segment they have been reported as unallocated. The segments and the services they provide are as follows: Protective Services Protective Services is comprised of the Ridge Meadows RCMP detachment, the Maple Ridge Fire Department, bylaw enforcement, inspection services and emergency services. Services provided by the segment are focused on protecting the citizens of Maple Ridge. Transportation Services Transportation Services is comprised of Engineering, Operations, Drainage and Roads. Services provided by the segment include the construction and maintenance of transportation related infrastructure. Recreation and Cultural Recreation and cultural services provides library services, access to recreation facilities and maintains and operates District parks. Water Utility The Water Utility, in conjunction with Metro Vancouver, provides safe, clean, reliable water to the residents and businesses of the District of Maple Ridge. Sewer Utility The Sewer Utility collects waste water and transports it to treatment plants operated by Metro Vancouver in addition to maintaining the sanitary sewer infrastructure. General Government General Government provides administrative, legislative and support services for the District. Functions include financial planning and reporting, information technology, economic development and communications. Planning, Public Health and Other This segment is comprised of Planning, Recycling, Cemetery and Social Planning. Activities include land use guidelines, development of the District's official community plan, management of the recycling contract and improving the social well-being of the community. Unallocated Unallocated includes revenues and expenses that cannot be directly attributed to the activities of an identified functional segment. Schedule 2 Schedule of Change in Equity in Capital Assets For the year ended December 31, 2011 Actual Budget Restated Actual 2011 2011 2010 Revenue Subdivision infrastructure contributions $21,582,148 $12,250,000 $20,765,925 Senior government transfers 10,086,063 25,052,578 6,694,315 Development fees 2,993,696 25,944,459 5,337,509 Other capital contributions 95,213 1,762,302 588,324 Disposal of tangible capital assets (1,453,063)-(947,234) Total Revenue 33,304,057 65,009,339 32,438,839 Expenses Amortization 17,267,869 17,369,969 16,779,709 Total Expenses 17,267,869 17,369,969 16,779,709 Annual Surplus 16,036,188 47,639,370 15,659,130 Internal Transfers Transfers and principal payments from revenue funds 5,730,382 10,634,597 5,980,101 Transfers from reserves 6,192,597 18,189,744 11,851,675 Increase (decrease) in equity in capital assets 27,959,167 76,463,711 33,490,906 Equity in capital assets - beginning of the year 754,160,938 754,160,938 720,670,032 Equity in capital assets - end of the year (Note 15)$782,120,105 $830,624,649 $754,160,938 There were two severance agreements under which payment commenced between The District of Maple Ridge and a non-unionized employee during the fiscal year 2011 These agreements represent 8.08 months of compensation.* *"Compensation" was determined based on salary. THE CORPORATION OF THE DISTRICT OF MAPLE RIDGE STATEMENT OF SEVERANCE AGREEMENTS Prepared under the Financial Information Regulation, Schedule 1, subsection 6 (7) (a) (b) Management’s Responsibility for Financial Reporting The information in this Annual Report is the responsibility of management. The consolidated financial statements have been prepared in accordance with Canadian Public Sector accounting guidelines as outlined under “Significant Accounting Policies”.These include some amounts based on management’s best estimates and careful judgment. Management maintains a system of internal accounting controls to provide reasonable assurance that assets are safeguarded and that transactions are authorized, recorded, and reported properly.Management also administers a program of proper business compliance. BDO Canada LLP, the Municipality’s independent auditors have audited the accompanying financial st atements. Their report accompanies this statement. Council carries out its responsibility for the consolidated financial statements jointly with its Audit Committee. The Committee meets with management on a scheduled basis and at least semi -annually with BDO Canada LLP to review their activities and to discuss auditing, internal control, accounting policy, and financial reporting matters.BDO Canada LLP has unrestricted access to the Municipality, the Audit Committee, and Council.Council approves the consolidated financial statements, the Audit Committee reviews the recommendations of the independent auditors for improvements to controls and as well as the actions of management to implement such recommendations. Paul Gill, CGA Jim Rule General Manager: Corporate & Financial Services Chief Administrative Officer