AGENDA

FINANCE COMMITTEE Regular Meeting

Thursday, June 12, 2008 9:00 a.m.

2nd Floor Boardroom 4330 Kingsway, Burnaby, British Columbia

Please advise Eleanor Boldt at (604) 436-6836 if you are unable to attend.

Chair, Director Malcolm Brodie, Richmond Vice Chair, Director Colleen Jordan, Burnaby Councillor John Clark, West Vancouver Councillor Robin Hicks, North Vancouver District Director Marvin Hunt, Surrey Councillor Craig Keating, North Vancouver City Councillor Raymond Louie, Vancouver Director Don MacLean, Pitt Meadows Director Gayle Martin, Langley City

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June 5, 2008

NOTICE TO THE GVRD FINANCE COMMITTEE

You are requested to attend a Regular Meeting of the GVRD Finance Committee to be held at 9:00 am on Thursday, June 12, 2008 in the 2nd Floor Boardroom, 4330 Kingsway, Burnaby, British Columbia.

A G E N D A

1. ADOPTION OF THE AGENDA

1.1 June 12, 2008 Regular Meeting Agenda Staff Recommendation: That the Finance Committee adopt the agenda for its regular meeting scheduled for June 12, 2008 as circulated.

2. ADOPTION OF THE MINUTES

2.1 April 17, 2008 Regular Meeting Minutes Staff Recommendation: That the Finance Committee adopt the minutes of its regular meeting held April 17, 2008 as circulated.

3. DELEGATIONS No items presented.

4. INVITED PRESENTATIONS

4.1 SmartGrowth BC Designated Speaker: Cheeying Ho, Executive Director

5. REPORTS FROM COMMITTEE OR STAFF

5.1 Anmore Renewable Energy Foundation Designated Speaker: Jim Rusnak Recommendation: That the Board approve the request from the Anmore Renewable Energy Foundation for a Community Grant in the amount of $8,000.

5.2 Financial Relationship between Metro Vancouver, TransLink & MFA Designated Speaker: Jim Rusnak Recommendation: That the Board receive the report titled "Financial Relationship between Metro Vancouver, TransLink & MFA" dated April 25, 2008 for information.

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5.3 2007 Schedules of Financial Information Designated Speaker: Phil Trotzuk Recommendation: That the Board approve the 2007 Schedules of Financial Information for Remuneration & Expenses and for Payments to Suppliers for Goods and Services.

5.4 Status of Utilities Capital Expenditures to April 30, 2008 Designated Speakers: Tim Jervis & Phil Trotzuk Recommendation: That the Committee receive the report titled Status of Utilities Capital Expenditures to April 30, 2008, dated May 20, 2008 for information.

5.5 Floating Rate Exposure to April 30, 2008 Designated Speaker: Gord Nicol Recommendation: That the Finance Committee receive the report titled “Floating Rate Exposure to April 30, 2008” dated June 5, 2008 for information.

5.6 Investment Position and Returns – January 1, 2008 to April 30, 2008 Designated Speaker: Gord Nicol Recommendation: That the Finance Committee receive the report titled “Investment Position and Returns – January 1, 2008 to April 30, 2008” dated June 5, 2008 for information.

5.7 Tender/Contract Award Information – March and April 2008 Designated Speaker: Tracey Husoy Recommendation: That the Finance Committee receive the report titled “Tender/Contract Award Information – March and April 2008” dated May 23, 2008 for information.

5.8 Manager’s Report • Verbal Update on REAC/RFAC/RAAC Presentation re Financial Implications • Internal Audit

6. INFORMATION ITEMS

6.1 Correspondence dated April 25, 2008 from UBCM re Response from Finance Minister Carol Taylor on the Carbon Tax

7. OTHER BUSINESS No items presented.

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8. RESOLUTION TO CLOSE MEETING

Staff Recommendation: That the Finance Committee close its regular meeting scheduled for June 12, 2008 pursuant to the Community Charter provisions, Section 90 (1) (g) as follows: “90 (1) A part of a committee meeting may be closed to the public if the subject matter being considered relates to or is one or more of the following: (g) litigation or potential litigation affecting the municipality.

9. ADJOURNMENT Staff Recommendation: That the Finance Committee conclude its regular meeting of June 12, 2008.

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FIN-4 2.1

GREATER VANCOUVER REGIONAL DISTRICT FINANCE COMMITTEE

Minutes of the Regular Meeting of the Greater Vancouver Regional District (GVRD) Finance Committee held at 9:04 a.m. on Thursday, April 17, 2008 in the 2nd Floor Boardroom, 4330 Kingsway, Burnaby, British Columbia.

PRESENT: Vice Chair, Director Colleen Jordan, Burnaby Councillor John Clark, West Vancouver Councillor Robin Hicks, North Vancouver District Director Marvin Hunt, Surrey Councillor Craig Keating, North Vancouver City Councillor Raymond Louie, Vancouver Director Don MacLean, Pitt Meadows (arrived at 9:17 a.m.) Director Gayle Martin, Langley City

ABSENT: Chair, Director Malcolm Brodie, Richmond

STAFF: Johnny Carline, Commissioner/Chief Administrative Officer Jim Rusnak, Chief Financial Officer Klara Kutakova, Assistant to Regional Committees, Corporate Secretary’s Department

1. ADOPTION OF THE AGENDA

1.1 April 17, 2008 Regular Meeting Agenda

It was MOVED and SECONDED That the Finance Committee adopt the agenda for its regular meeting scheduled for April 17, 2008 as circulated. CARRIED

2. ADOPTION OF THE MINUTES

2.1 March 13, 2008 Regular Meeting Minutes

It was MOVED and SECONDED That the Finance Committee adopt the minutes of its regular meeting held March 13, 2008 as circulated. CARRIED

3. DELEGATIONS No items presented.

4. INVITED PRESENTATIONS No items presented.

Minutes of the Regular Meeting of the GVRD Finance Committee held on Thursday, April 17, 2008 Page 1 of 7

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5. REPORTS FROM COMMITTEE OR STAFF

5.1 External Auditors’ Report Report dated March 28, 2008 from Brian Szabo, Associate Partner, Assurance Services, KPMG LLP, providing KPMG audit findings.

It was MOVED and SECONDED That the Finance Committee receive for information the KPMG Oversight and Independence Letters dated March 28, 2008 regarding the annual audit of the Greater Vancouver Districts and the Greater Vancouver Housing Corporation for the year ended December 31, 2007. CARRIED

5.2 Audited 2007 Financial Statements Report dated April 10, 2008 from Jim Rusnak, Chief Financial Officer, and Phil Trotzuk, Financial Planning and Operations Division Manager, Finance and Administration Department, presenting the 2007 Audited Financial Statements for the Greater Vancouver Regional Districts and the Greater Vancouver Housing Corporation for approval.

On-table replacement pages were distributed at the meeting and are retained with the April 17, 2008 Finance Committee agenda package.

9:17 a.m. Director MacLean arrived at the meeting.

It was MOVED and SECONDED a) That the GVRD Board approve the draft Audited 2007 Consolidated Financial Statements for the Greater Vancouver Regional District as received by the Committee, and receive for information the Greater Vancouver Housing Corporation draft Audited 2007 Financial Statements; b) That the GVS&DD Board approve the draft Audited 2007 Financial Statements for the Greater Vancouver Sewerage and Drainage District; c) That the GVWD Board approve the draft Audited 2007 Financial Statements for the Greater Vancouver Water District; d) That the GVHC Board receive and approve the draft Audited 2007 Financial Statements for the Greater Vancouver Housing Corporation. CARRIED

5.3 2007 Financial Results Report dated April 10, 2008 from Jim Rusnak, Chief Financial Officer, and Phil Trotzuk, Financial Planning and Operations Division Manager, Finance and Administration Department, presenting the financial results for the 2007 fiscal year for all Metro Vancouver Districts as well as the Metro Vancouver Housing Corporation.

It was MOVED and SECONDED That the Board receive the report titled “2007 Financial Results” dated April 8, 2008 for information. CARRIED

Minutes of the Regular Meeting of the GVRD Finance Committee held on Thursday, April 17, 2008 Page 2 of 7

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The Committee expressed concerns about Metro Vancouver being liable for TransLink’s (South Coast British Columbia Transportation Authority) borrowing given the Metro Vancouver Board no longer has the authority to authorize TransLink’s borrowing.

It was MOVED and SECONDED That the Finance Committee direct staff to report on the relationship and potential financial implications to Metro Vancouver of the South Coast British Columbia Transportation Authority borrowing through the Municipal Finance Authority. CARRIED

5.4 Status of Reserves Report dated April 7, 2008 from Phil Trotzuk, Financial Planning and Operations Division Manager, Finance and Administration Department, proposing additional reserve applications to those previously approved by the Board in November 2007 and projecting reserve statuses of operating and designated reserves for 2008.

It was MOVED and SECONDED That the GVRD, GVS&DD and GVWD Boards approve the application of reserves as set out in Schedules 1 and 2 of the report titled “Status of Reserves” dated April 7, 2008. CARRIED

5.5 Status of Utilities Capital Expenditures to December 31, 2007 Report dated March 31, 2008 from Tim Jervis, Manager, Engineering and Construction Department, and Phil Trotzuk, Financial Planning and Operations Division Manager, Finance and Administration Department, providing a status update on utilities capital expenditures.

It was MOVED and SECONDED That the Board receive the report titled "Status of Utilities Capital Expenditures to December 31, 2007" dated March 31, 2008 for information. CARRIED

5.6 Floating Rate Exposure to December 31, 2007 Report dated April 2, 2008 from Gord Nicol, Comptroller Treasury, Finance and Administration Department, reporting on the GVRD’s exposure to interest rate risk from floating rate debt, as required by policy.

It was MOVED and SECONDED That the Finance Committee receive the report titled “Floating Rate Exposure to December 31, 2007” dated April 2, 2008 for information. CARRIED

5.7 Investment Position and Returns – September 1, 2007 to December 31, 2007 Report dated April 2, 2008 from Gord Nicol, Comptroller Treasury, Finance and Administration Department, reporting on investment returns pursuant to the requirements of the Investment Policy.

Minutes of the Regular Meeting of the GVRD Finance Committee held on Thursday, April 17, 2008 Page 3 of 7

FIN-7

It was MOVED and SECONDED That the Finance Committee receive the report titled “Investment Position and Returns – September 1, 2007 to December 31, 2007” dated April 2, 2008 for information. CARRIED

5.8 GVWD Borrowing Bylaw No. 242, 2008 Report dated February 1, 2008 from Phil Trotzuk, Financial Planning and Operations Division Manager, Finance and Administration Department, seeking approval of the GVWD Bylaw No. 242, 2008 enabling MFA borrowing.

It was MOVED and SECONDED That the Board: a) adopt the recommendation of the Commissioner being Attachment 1 to the report dated February 1, 2008 titled “MFA Borrowing Authority - GVWD Bylaw No. 242, 2008”, to authorize, subject to the approval of the Inspector of Municipalities, the issue and sale to the Greater Vancouver Regional District of a debenture or debentures, or other form of security or indebtedness, not to exceed the aggregate principal amount of $700,000,000 in lawful money of Canada, dated such date or dates, maturing on such date or dates, and bearing interest at such rate or rates as the Commissioner may determine, to borrow money to be applied for the purpose of carrying out the District’s objects as set forth in the Greater Vancouver Water District Act, for the purpose of effecting the powers vested in the Greater Vancouver Water District by subsection 1 of Section 6A of the said Act, and for the purpose of repaying or refunding either before or at maturity monies which have been borrowed by the District by the issue of temporary securities and other debentures or securities, all as set out in greater detail in proposed Bylaw No. 242, 2008; and b) give leave to introduce “Greater Vancouver Water District Borrowing Bylaw Number 242, 2008” being a bylaw to authorize the issue and sale of debt not to exceed the aggregate principal amount of $700,000,000, and that it be read a first, second and third time, and forwarded to the Inspector of Municipalities for approval. CARRIED

5.9 GVRD Security Issuing Bylaw No. 1073, 2008 re GVWD Borrowing Bylaw No. 242, 2008 Report dated February 1, 2008 from Phil Trotzuk, Financial Planning and Operations Division Manager, Finance and Administration Department, seeking authorization of a bylaw for issuance of debenture debt through the GVRD and the Municipal Finance Authority of British Columbia in the amount of $700 million dollars for the GVWD and to provide the long term capital borrowing authority for the anticipated requirements of the next five years.

Minutes of the Regular Meeting of the GVRD Finance Committee held on Thursday, April 17, 2008 Page 4 of 7

FIN-8

It was MOVED and SECONDED That GVRD Bylaw No. 1073, 2008 cited as "Greater Vancouver Regional District Security Issuing Bylaw No. 1073, 2008" be introduced, read a first, second and third time, and that it be forwarded to the Inspector of Municipalities for approval. CARRIED

5.10 GVS&DD Borrowing Bylaw No. 242, 2008 Report dated February 1, 2008 from Phil Trotzuk, Financial Planning and Operations Division Manager, Finance and Administration Department, seeking authorization of the GVS&DD Borrowing Bylaw No. 242, 2008 to authorize the issue and sale to the Greater Vancouver Regional District of a debenture or debentures, or other form of security or indebtedness, not to exceed the aggregate principal amount of $700,000,000.

It was MOVED and SECONDED That the Board: a) adopt the recommendation of the Commissioner being Attachment 1 to the report dated February 1, 2008 titled “GVS&DD Borrowing Bylaw No. 242, 2008”, to authorize, subject to the approval of the Inspector of Municipalities, the issue and sale to the Greater Vancouver Regional District of a debenture or debentures, or other form of security or indebtedness, not to exceed the aggregate principal amount of $700,000,000 in lawful money of Canada, dated such date or dates, maturing on such date or dates, and bearing interest at such rate or rates as the Commissioner may determine, to borrow money to be applied for the purpose of carrying out the District’s objects as set forth in the Greater Vancouver Sewerage & Drainage District Act, for the purpose of effecting the powers vested in the Greater Vancouver Sewerage & Drainage District by subsection 1 of Section 6A of the said Act, and for the purpose of repaying or refunding either before or at maturity monies which have been borrowed by the District by the issue of temporary securities and other debentures or securities, all as set out in greater detail in proposed Bylaw No. 242, 2008; and b) give leave to introduce “Greater Vancouver Sewerage & Drainage District Borrowing Bylaw Number 242, 2008” being a bylaw to authorize the issue and sale of debt not to exceed the aggregate principal amount of $700,000,000, and that it be read a first, second and third time, and forwarded to the Inspector of Municipalities for approval. CARRIED

5.11 GVRD Security Issuing Bylaw No. 1074, 2008 re GVS&DD Borrowing Bylaw No. 242, 2008 Report dated February 1, 2008 from Phil Trotzuk, Financial Planning and Operations Division Manager, Finance and Administration Department, seeking authorization of the Greater Vancouver Regional District Security Issuing Bylaw No. 1074, 2008, a bylaw to for the issuance of debenture debt through the GVRD and the Municipal Finance Authority of British Columbia in the amount of $700 million for the GVS&DD and to provide the long-term capital borrowing authority for the anticipated requirements of the next five years.

Minutes of the Regular Meeting of the GVRD Finance Committee held on Thursday, April 17, 2008 Page 5 of 7

FIN-9

It was MOVED and SECONDED That GVRD Bylaw No. 1074, 2008 cited as “Greater Vancouver Regional District Security Issuing Bylaw No. 1074, 2008” be introduced, read a first, second and third time, and that it be forwarded to the Inspector of Municipalities for approval. CARRIED

5.12 Tender/Contract Award Information – January and February 2008 Report dated March 27, 2008 from Tracey Husoy, Purchasing and Risk Division Manager, Finance and Administration Department, informing about contracts valued at or estimated at more than $250,000.00.

It was MOVED and SECONDED That the Finance Committee receive the report titled “Tender/Contract Award Information – January and February 2008” dated March 27, 2008 for information. CARRIED

5.13 Follow-up to March 13, 2008 Financial Workshop Report dated April 4, 2008 from Jim Rusnak, Chief Financial Officer, proposing a workshop on financial issues in the Metro Vancouver region, with reference to Metro Vancouver’s long-term infrastructure planning, and in context with other municipalities and authorities in the Metro Vancouver region.

Members were advised of revisions made to the presentation introduced at the Committee at its March 2008 meeting, based on the feedback received from the Committee.

It was MOVED and SECONDED a) That the Board receive the report titled "Follow-up to March 13, 2008 Financial Workshop" dated April 4, 2008 to the Board for information; and b) That the Board direct Metro Vancouver staff, with the assistance of RAAC, REAC and RFAC, to coordinate a May 2008 workshop to consider the financial challenges facing the region (including municipalities and transportation authority) in coming years, with the presentation titled “Follow-up to March 13, 2008 Financial Workshop” comprising part of the content of the workshop, and that the results of the workshop be reported back to the Finance Committee and to the Board. CARRIED

5.14 Manager’s Report Jim Rusnak, Chief Financial Officer, acknowledged the work of the Finance and Administration Department carried out in support of the KPMG, external auditor.

6. INFORMATION ITEMS No items presented.

7. OTHER BUSINESS No items presented.

Minutes of the Regular Meeting of the GVRD Finance Committee held on Thursday, April 17, 2008 Page 6 of 7

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8. RESOLUTION TO CLOSE MEETING

It was MOVED and SECONDED That the regular meeting of the GVRD Finance Committee scheduled for April 17, 2008 be closed pursuant to the Community Charter provisions, Sections 90(1)(d) and (g) as follows: “90(1) A part of a committee meeting may be closed to the public if the subject matter being considered relates to one or more of the following: (d) the security of the property of the regional district; and (g) litigation or potential litigation affecting the regional district. CARRIED

9. ADJOURNMENT

It was MOVED and SECONDED That the Finance Committee conclude its regular meeting of April 17, 2008.

CARRIED (Time: 10:51 a.m.)

______Klara Kutakova, Colleen Jordan, Vice Chair Assistant to Regional Committees

004614439 FINAL

Minutes of the Regular Meeting of the GVRD Finance Committee held on Thursday, April 17, 2008 Page 7 of 7

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FIN-12 5.1

Finance Committee Meeting Date: June 12, 2008

To: Finance Committee

From: Jim Rusnak, Chief Financial Officer

Date: April 21, 2008

Subject: Anmore Renewable Energy Foundation

Recommendation: That the Board approve the request from the Anmore Renewable Energy Foundation for a Community Grant in the amount of $8,000.

1. PURPOSE

To provide a Community Grant to the Anmore Renewable Energy Foundation in support of their proposed Renewable Energy Demonstration Centre, and in particular their solar energy demonstration project.

2. CONTEXT

The Village of Anmore has created this Foundation as part of a Sustainable Region initiative. The attached documentation from Mayor Weinberg provides an overview of the work done to date, and indicates that Metro Vancouver’s Community Grant, if awarded, would go towards “signage and a public education campaign that has to be done in order for the significance to be communicated to the larger community.”

This project has received federal and provincial funding, as well as support from the private sector and educational partners.

3. ALTERNATIVES

The Board could approve this request.

The Board could deny this request.

4. CONCLUSION

Staff recommend that the Board approve this request.

JR/eb Attachments

Document #004341656

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FIN-14

9 April 2008

Metro Vancouver 4330 Kingsway Vancouver, BC V5H 4G8

Attention: Metro Vancouver Environment Committee

Re: Anmore Renewable Energy Foundation – Progress Report and Request For A Community Grant

Dear Members of the Committee:

The Village of Anmore has really taken to heart the spirit of Metro Vancouver’s leadership towards a Sustainable Region and is doing its best to contribute what it can to this initiative. Through the creation of the Anmore Renewable Engery Foundation we have:

• Raised over $250,000 in cash and in kind for a feasibility study into a Renewable Energy Demonstration Centre • Completed micro-hydro studies and architectural concept drawings for a potential building • Erected a meteorological tower at Buntzen Lake to test for trace wind resources • Installed a 3 KW solar array at the Anmore Village Hall • Formalized a net metering arrangement with BC Hydro for the solar array • Initiated an application- with the assistance of private partner – pursuant to BC Hydro’s <10 MW Standard Offer Call for power to build a 3 MW ‘in-fill’ hydro project at the Buntzen tunnel • Have had many interesting discussions at the Foundation table and in the community regarding other potential initiatives in renewable energy supply and demand – and GHG reduction

We like to see our community as a potential ‘laboratory’ for new sustaiability practises and on that basis would like to apply for funding from the Community Grants program. Added to the funding and matching grants that we have received from the federal and provincial government – and the significant cash and in-kind support that we have attracted from private sector and educational partners – a contribution from Metro Vancouver would enable us to show that we had support from all three levels of government.

The money would be spent in two ways: there are some remaining bills from trades and fabricators that built the solar array; then there is signage and a public education campaign that has to be done in order for the significance of these projects can be communicated to the local and larger community. This is just the right time to be involved as we will be able to feature Metro Vancouver as a supporter in our publicity.

…./2

FIN-15 Letter to Metro Vancouver page 2

Please contact me if you have any questions or queries. I look forward to hearing back from you soon.

Sincerely,

Dr. Hal Weinberg Chair, Anmore Renewable Energy Foundation and Mayor, Village of Anmore 2697 Sunnyside Road Anmore, BC V3H 5G9 Tel: (604) 469-9877 Email: [email protected] Url: www.anmorefoundation.ca

Enclosures:

Sample Letters of support from*

Day4 Energy Ltd. Keen Engineering Ltd. (now Stantec) School of Resource and Environmental Management, Simon Fraser University Integrated Energy Systems, University of Victoria

*more letters are available on request.

FIN-16 FIN-17 FIN-18 FIN-19 FIN-20 L. Pitt, Ph.D. Research Coordinator

July 19, 2005

Mr. Franco Zanatta Western Economic Diversification Canada 700-601 West Hastings Street Vancouver BC V6B 5G9

Dear Franco:

Re: Funding Contributions to the Anmore Renewable Energy Project

We are writing to confirm our support for and our estimated in-kind contribution to the feasibility and development of the Anmore Renewable Energy Project (AREP).

Background As you are aware the University of Victoria’s Institute for Integrated Energy Systems (IESVic) has agreed in principle to support the feasibility and development of the AREP and is providing in-kind support to assist this project. This letter outlines our anticipated contribution to this project.

Our contributions reflect the scope of services outlined in the document Anmore Renewable Energy Project: Feasibility Study and Scoping Document submitted to your office on July 5 2005.

Our contribution: First, IESVic is developing a simulation tool as part of our Integrated Renewable Energy Experiment (IRENE). In addition we have experience with other renewable energy system simulation tools as well. We plan to use these simulation tools and our expertise gained with the IRENE platform to help in the feasibility and planning stages for the AREP facility. A pilot project such as AREP is exactly the type of project that we envisioned the IRENE platform and associated simulation tools to be applied to. Hence we are excited by the emergence of a practical application for the systems under development.

Second, IESVic has developed, over the past two-years, a strong working relationship with the Huu Ahy Aht First Nation and have recently completed an energy assessment for this community. Our next phase of work is performing a detailed assessment of a small hydro development on the Sarita River that may form the basis of a community energy system for the village of Annacla. Our expertise in working with a First Nations community will be valuable in helping the Anmore Renewable Energy Project in this aspect of their goals.

Third, a new Chair in Sustainable Energy Systems Design is under consideration at UVic. As part of the mandate, the nominee, Dr. Peter Wild will be establishing relationships and opportunities for engineering students to gain practical design experience. The type of facility envisioned by the Anmore Foundation has excellent potential to provide a number of such opportunities on an on-going basis. Dr. Wild will therefore be well positioned to contribute to the educational space requirements in the design of the AREP facility.

University of Victoria/IESVic, PO Box 3055, STN CSC, Victoria, BC V8W 3P6 CANADA Tel: (250) 721 8935 Fax: (250) 721 6323 Email: [email protected] www.iesvic.uvic.ca FIN-21

We have estimated, based on our current knowledge and understanding of the project and our role in the project components related to programming, planning, design, construction and operation of the AREP, that the following in-kind contribution from IESVic will be:

IESVic Personnel Consulting Equivalent In-kind value Time Charge out Rate

Dr. Lawrence Pitt 5 days $500/day 2,500

Dr. Peter Wild 4 days $600/day 2,400 Tom Schmiester 5 days $300/day 1,500 (PhD candidate) Matt Schuett 5 days $300/day 1,500 (MASc Candidate)

IESVic Value Equivalent Equipment Charge out Rate

IRENE $400,000 $5000/week 5,000

Simulation tools $100,000 $1500/week 1,500

Total In-kind contribution: $14,400

Conclusions UVic is committed to providing educational and research opportunities for to support the development of green and sustainable energy solutions. We believe our contributions to the AREP will assist not only our institution but the project itself, and assist in fostering an improved understanding of sustainable development and the educational and research requirements for renewable green energy.

If you have any questions regarding the above please do not hesitate to contact me.

Yours truly,

Lawrence Pitt Research Coordinator

LP:sjw

2 FIN-22 5.2

Finance Committee Meeting Date: June 12, 2008

To: Finance Committee

From: Jim Rusnak, CFO

Date: April 25, 2008

Subject: Financial Relationship between Metro Vancouver, TransLink & MFA

Recommendation: That the Board receive the report titled "Financial Relationship between Metro Vancouver, TransLink & MFA" dated April 25, 2008 for information.

1. PURPOSE

To inform the Board on the financial relationship between Metro Vancouver, TransLink and the Municipal Finance Authority (MFA), given the enactment of the South Coast British Columbia Transportation Authority Act.

2. CONTEXT

TransLink Borrowing Limit and Approval Process

Bill 43 – 2007, the South Coast British Columbia Transportation Authority Act (SCBCTA Act) was enacted in late 2007. This act amended the Greater Vancouver Transportation Authority Act (GVTA Act), and created a new governance model for TransLink. Under the GVTA Act, Metro Vancouver’s Board had an oversight role with responsibility to review and approve TransLink Strategic Transportation Plans and their borrowing limits. Metro Vancouver acted as a conduit for all of TransLink’s borrowing through the MFA, and in fact Translink’s debt to the MFA, along with their Short and Long Term Investments, were reflected in the Financial Statements of Metro Vancouver.

Metro Vancouver, along with the member municipalities are jointly and severally liable for all borrowings through the MFA, and this continues under the new Act.

The SCBCTA has created the Mayor’s Council on Regional Transportation, comprised of the 21 Mayors of the region. Their role is to consider the interests of the region as a whole. Among other functions, this council appoints the TransLink Board of Directors, appoints the Regional Transportation Commissioner, receives base plans as well as long term strategic plans, and approves any supplemental transportation and financial plans. Essentially, this Mayor’s Council assumes much of the governance responsibility previously held by Metro Vancouver’s Board.

FIN-23 Finance Committee – May 15, 2008 Page 2 Financial Relationship between Metro Vancouver, TransLink & MFA

Section 31 of the SCBCTA Act establishes the borrowing limits for Translink, and dictates that the outstanding debt obligations arising from borrowings must not exceed the greater of the following:

1. $1 billion, 50 million 2. an amount proposed by a resolution of the board, and ratified by a resolution of the Metro Vancouver board 3. an amount proposed in a supplement approved by the Mayor’s Council, after consultation with the Metro Vancouver board.

TransLink’s current debt cap is $2.8 billion, pursuant to a resolution under #2 above. It is conceivable that in the future, TransLink’s debt cap will be extended beyond current level, and Metro Vancouver’s role in that process will be one of consultation only.

MFA and Rating Agencies

Apart from the establishment of corporate borrowing limits, the actual process of borrowing from the MFA involves a fairly rigorous process. Loan Authorization Bylaws require three readings by the appropriate Board, followed by submission to the Ministry of Community Services ("MCS") for review and approval of the Inspector. In some cases this is followed by an Elector approval process. Then the Loan Authorization Bylaw is reconsidered by the Board and, if adopted, and after a one month quashing period, the borrower applies to the MCS for a Certificate of Approval for the bylaw. With all of these approvals in place, a request can then be submitted to the MFA.

Twice a year clients of the MFA submit requests for funding. Taking into consideration market and economic conditions, the Board of Trustees of the MFA may authorize the issue and sale of securities in an amount sufficient to meet these requests. Under the MFA Act, four of the Trustees are Metro Vancouver Board members.

MFA currently enjoys triple “A” ratings from S&P, Moody’s and Fitch, the three major ratings agencies. Each of these agencies exercises a great degree of diligence and oversight in their issuance and maintenance of their ratings. They obviously rely on a number of factors in making their determinations. Moody’s opening comments in their rationale state “The Aaa rating on debt issued by the MFA reflects a strong institutional framework and substantial liquidity. Significant bondholder security is provided by the joint and several liability of members of regional districts that borrow from MFA, investments equivalent to 24.6% of net direct debt and unlimited taxing powers on all taxable properties within the province.”

TransLink also maintains separate credit ratings, and in an October 2007 report by Moody’s is rated Aa3, and AA by DBRS. The new governance structure under the SCBCTA Act is considered a positive move by Moody’s, in their comments “Together, the proposed changes are expected to allow for greater certainty in planning, especially respecting sources of revenue available to fund debt service related to capital commitments. The lack of certainty that existed within the previous model had been identified by Moody’s as a credit challenge. Another characteristic of the previous model that would be retained is that borrowing of the GVTA would continue to be joint and several obligations of all of the member municipalities that make up the service area. This is a key credit strength as it binds together all member municipalities in decisions respecting capital investments in transportation and the debt associated with those decisions.”

FIN-24 Finance Committee – May 15, 2008 Page 3 Financial Relationship between Metro Vancouver, TransLink & MFA

They do express some concern over potential cost overruns on major projects, and note that while overruns on Canada Line and Golden Ears have been transferred to the concessionaires of the projects that “any cost overruns experienced with major future projects could necessitate increased funding by the GVTA that could, in turn, lead to increased debt and pressure on its operating budget.”

MFA Debt and Borrower Composition

The following graph is an extract from Fitch Ratings March 2008 analysis of the MFA, and shows the make-up of debt by borrower. In 2007 MFA’s gross debt was around $5.4 billion, or $4.1 billion net of sinking funds and debt reserves. Fitch estimated that to be around $805 per capita. If you exclude user fee supported debt (eg. Water and Sewer systems) they estimate the net debt per capita at about $403.

TransLink is MFA’s largest single borrower. They have an extensive capital plan, and are in the process of planning to meet the Provincial Transportation Plan goals. Fitch offered the following comments on TransLink: With their capital expansion, TransLink “may grow to be 50% of MFA’s total loan portfolio by 2015. However, as with all MFA borrowers, the system’s available revenues constrain its borrowing capacity. By statute, the TransLink system cannot budget a deficit, ensuring that its revenue streams support any proposed debt issuance.”

3. ALTERNATIVES

N/A

FIN-25 Finance Committee – May 15, 2008 Page 4 Financial Relationship between Metro Vancouver, TransLink & MFA

4. CONCLUSION

Metro Vancouver’s Board no longer has direct control over TransLink’s business operations nor their level of debt. There is a statutory obligation for consultation with Metro Vancouver, but no direct control.

The “Mayor’s Council on Regional Transportation” does have control over TransLink’s business operations and debt, and it is incumbent upon that council to act in the best interests of the region.

Joint and several liability for debt is an underlying principle of MFA’s success, and that joint and several responsibility is a significant factor underpinning MFA’s strong credit ratings.

MFA’s application, review and lending policies appear to be prudent, conservative and effective. Metro Vancouver’s board is well represented through the appointment of four trustees to the MFA board.

TransLink will continue to be the largest borrower through MFA, backed by approved business plans articulating the sources of revenue sufficient to service and repay their borrowings over time.

There will be considerable third party oversight on TransLink and on the MFA through the various ratings agencies, and any downgrades will be known to Metro Vancouver.

Rating agencies, at this time, view the new TransLink governance structure as a positive change, and there is nothing to suggest that there will be a predictable adverse impact on MFA’s ratings, or upon any other MFA member’s ability to borrow.

JR/eb

Document #004617751

FIN-26 5.3

Finance Committee Meeting Date: June 12, 2008

TO: Finance Committee

FROM: Phil Trotzuk, Financial Planning & Operations Manager

DATE: June 5, 2008

SUBJECT: 2007 Schedules of Financial Information

Recommendation: That the Board approve the 2007 Schedules of Financial Information for Remuneration & Expenses and for Payments to Suppliers for Goods and Services.

1. PURPOSE

To present the 2007 Schedules of Financial Information as part of the reporting requirements of the Financial Information Act.

2. CONTEXT

The Financial Information Act is provincial legislation that requires local government to prepare the following statements and schedules of financial information annually:

(1) statement of assets and liabilities; (2) an operational statement; (3) a schedule of debts; (4) a schedule of guarantee and indemnity agreements; (5) a schedule showing remuneration and expenses paid to or on behalf of each employee that exceeds $75,000; (6) a schedule showing the payments for each supplier of goods or services that exceeds $25,000.

The requirements of the Financial Information Act are addressed in two stages.

The first four requirements were met by the annual audited financial statements which were adopted by the Board in April, while the remaining two requirements must be met by June 30 and are covered by the schedules included as attachments to this report.

FIN-27 Finance Committee – June 12, 2008 Page 2 2007 Schedules of Financial Information

The requirements under (5) are met by Schedules 1 to 4 which include remuneration and expenses paid to or on behalf of directors, committee members, employees and any severance payments as well as a reconciliation of these amounts to the financial statements. Expenses included are those incurred while conducting Metro Vancouver business.

The requirements under (6) are met by Schedules 5 to 7 which include payments made to suppliers in both Canadian and US dollars as well as a reconciliation of the payments to the financial statements.

3. CONCLUSION

The 2007 Audited Financial Statements were adopted by the Board in April 2008. The attached supplementary information was included in the context of the audit, but provides additional detailed information that is required for public disclosure. Approval concludes the legislated requirements.

Once approved, the Financial Information Act filing information is then available for viewing by the public and anyone can acquire a hard copy of the information from the Finance and Administration Department for a fee of $5.001.

PT/eb Attach.

Document #004619659

1 The fee is prescribed by provincial regulation. FIN-28

METRO VANCOUVER

FINANCIAL INFORMATION ACT FILING

STATEMENT OF FINANCIAL INFORMATION

FOR THE YEAR ENDED DECEMBER 31, 2007

THIS STATEMENT OF FINANCIAL INFORMATION INCLUDES THE ACCOUNTS OF:

GREATER VANCOUVER REGIONAL DISTRICT GREATER VANCOUVER WATER DISTRICT GREATER VANCOUVER SEWERAGE AND DRAINAGE DISTRICT GREATER VANCOUVER HOUSING CORPORATION

FIN-29 This page left blank intentionally

FIN-30 FIN-31 This page left blank intentionally

FIN-32 STATEMENT OF FINANCIAL INFORMATION For the Year Ended December 31, 2007

INDEX

1) Statement of Assets and Liabilities ...... See Financial Statements

2) Operational Statements ...... See Financial Statements

3) Schedule of Debts...... See Financial Statements

4) Schedule of Guarantee and Indemnity Agreements ...... None

5) Schedule of Remuneration and Expenses

Members of the Board of Directors And Elected Officials ...... Schedule 1

Employees...... Schedule 2

Reconciliation of Remuneration and Expenses To Financial Statements...... Schedule 3

Statement of Severance Agreements...... Schedule 4

6) Schedule of Payments to Suppliers for Goods and Services

Payments to Canadian Suppliers ($Cdn) ...... Schedule 5

Payments to U.S. Suppliers ($US) ...... Schedule 6

Reconciliation of Payments for Goods and Services to Financial Statement ...... Schedule 7

FIN-33 This page left blank intentionally

FIN-34 Schedule 1 Page 1 of 4

SCHEDULE OF REMUNERATION AND EXPENSES

For the year ended December 31, 2007

Members of the Board of Directors and Elected Officials

Name Position Remuneration Expenses

Alberts,Kurt Board, Member $ 10,859 Anderson,Heather Council of Council 21 Anderson,Mary-Wade Board, Member (Alternate) 4,820 Anton,Suzanne Board, Member 8,069 Arnold,Jack Council of Council 278 Asmundson,Brent Board, Member (Alternate) 4,198 Ball,Elizabeth Board, Member 11,055 Barnes,Linda Board, Member (Alternate) 8,482 Barrett,Lisa Board, Member (Alternate) 3,070 Becker,Eric Council of Council 30 Begin,Robert Council of Council 30 Bing,Douglas Council of Council 278 Bookham,Pamela Council of Council 278 Bose,Robert Board, Member (Alternate) 1,011 Bowen,Michael Committee Member 3,825 Brodie,Malcolm Board, Member 9,082 Cadman,David Board, Member (Alternate) 19,247 9,340 Calendino,Pietro Board, Member (Alternate) 5,981 Campbell,Robert Council of Council 526 Capri,Kim Board, Member 4,608 Chow,George Board, Member (Alternate) 823 Clark,John Board, Member (Alternate) 290 Clay,Mike Council of Council 774 Corrigan,Derek Board, Member 16,577 Cote,Jonathan Council of Council 278 Day,Charles Council of Council 3,284 Daykin,Ernest Committee Member 3,562 Deal,Heather Board, Member (Alternate) 2,786 Dhaliwal,Satvinder Council of Council 526 Dilworth,Diana Council of Council 248 Donnelly,Finbarr Committee Member 3,518 Donnelly,M Council of Council 5,454 Drake,Bruce Board, Member (Alternate) 3,740 Drew,Ralph Board, Member 17,299 1,873 Dueck,Judy Board, Member 4,868 Dunn,Ronald Board, Member (Alternate) 248 Duxbury,Nancy Council of Council 1,482 Eisel,Debra Council of Council 278 Elkerton,Janis Board, Member (Alternate) 6,014 Elliott,Robert Board, Member (Alternate) 3,758 Engelland,Krista Board, Member (Alternate) 775 Evans,Garth Council of Council 278 Fassbender,H. Peter Board, Member (Alternate) 2,500 Fearnley,Robert Council of Council 248 Ferguson,George Board, Member 4,116

FIN-35 Schedule 1 Page 2 of 4

SCHEDULE OF REMUNERATION AND EXPENSES

For the year ended December 31, 2007

Members of the Board of Directors and Elected Officials

Name Position Remuneration Expenses

Ferguson,Stephen Council of Council 278 Forrest,Michael Council of Council 30 Forster,Judy Board, Member 12,710 Forsyth,Ralph Council of Council - Fox,Charles Council of Council 30 Frinton,Peter Council of Council 248 Gibson,Gary Board, Member 16,129 Gill ,Mohindar Board, Member 7,941 Gill,Tom Council of Council 21 Glover,M Council of Council 278 Goldsmith-Jones,Pamela Board, Member 9,061 Hamilton,William Council of Council 4,990 2,199 Harper,William Council of Council 1,052 Harris,Janice Committee Member 2,014 Hawksworth,George Council of Council 30 Heneault,Linda Board, Member (Alternate) 279 Hepner,Linda Board, Member 8,370 Heywood,Robert Council of Council 30 Hicks,Robin Committee Member 1,764 Higginbotham,Judith Board, Member (Alternate) 5,148 Hocking,Dave Board, Member 5,310 Hogarth,Allen Council of Council 278 Howard,Rob Board, Member (Alternate) 237 Hunt,Marvin Board, Member 21,679 7,622 Jackson,Lois Board, Member 54,242 10,044 Johnston,Daniel Board, Member (Alternate) 4,009 Jordan,Colleen Board, Member 9,321 Juvik,Ken Council of Council 30 Keating,Craig Board, Member (Alternate) 733 King,Linda Board, Member (Alternate) 3,687 Kositsky,Melvin Committee Member 2,748 Ladner,Peter Board, Member 25,617 Lahti,Meghan Council of Council 84 Lee,Bar-Chya Board, Member 4,877 Little,Mike Committee Member 3,472 Loewen,Dave Council of Council 30 Long,Bob Committee Member 3,810 Louie,Raymond Board, Member (Alternate) 1,819 Low,Duncan Committee Member 1,240 Lynch,Barrie Board, Member 6,640 MacLean,Donald Board, Member 14,994 Martin,Gayle ME Board, Member 25,671 3,574 Martin,Mary Board, Member (Alternate) 992 Mauger,Sharla-Dawn Committee Member 3,562 McIntosh,Elizabeth Council of Council 248

FIN-36 Schedule 1 Page 3 of 4

SCHEDULE OF REMUNERATION AND EXPENSES

For the year ended December 31, 2007

Members of the Board of Directors and Elected Officials

Name Position Remuneration Expenses

McNulty,William Board, Member (Alternate) 2,748 Moore,Greg Council of Council 992 Morse,Alison Council of Council 248 Mussatto,Darrell Board, Member 16,250 Nixon,Alan Board, Member (Alternate) 8,298 1,840 Osterman,Robert Council of Council 248 Peddemors,Stewart Committee Member 7,094 Penner,Darrell Committee Member 4,058 Perrault,Barbara Council of Council 308 Rankin,Lee Council of Council 278 Reid,Mae Board, Member (Alternate) 733 Richardson,Colin Council of Council 248 Robson,Gordon Committee Member 2,749 Rockwell,Karen Committee Member 1,736 Ross,Jamie Council of Council 30 Ross,Patricia Council of Council 248 Schaffer,Ted Council of Council 278 Schechter,Samuel Council of Council 278 Sekora,Louis Council of Council 30 Smith,Terrance Council of Council 278 Soprovich,William Council of Council 248 Speirs,Craig Council of Council 278 Steele,Helen Council of Council 12,305 Stevenson,Tim Board, Member 14,796 1,667 Steves,Harold Board, Member 14,746 Stewart,Kenneth Committee Member 5,110 Stewart,Richard Committee Member 3,562 Sullivan,Samuel Board, Member (Alternate) 1,239 Todd,Matthew Council of Council 774 Tolchard,Andrew Council of Council 278 Trasolini,Giuseppe Board, Member 20,414 4,885 Turpin,Lisa Council of Council 30 Vickberg,Howie Council of Council 248 Villeneuve,Judy Board, Member (Alternate) 3,470 Vishloff,Terry Council of Council 278 Volkow,Nick Council of Council 30 Walters,Debra Council of Council 278 Walton,Richard Board, Member 11,488 123 Ward,John Council of Council 992 Watkins,Shannon Council of Council 278 Watts,Dianne Board, Member 2,986 Weinberg,Harold Board, Member 8,359 Williams,Lorrie Committee Member 2,758 Wilson,Maxine Board, Member 6,719 Wolder,Ken Council of Council 744

FIN-37 Schedule 1 Page 4 of 4

SCHEDULE OF REMUNERATION AND EXPENSES

For the year ended December 31, 2007

Members of the Board of Directors and Elected Officials

Name Position Remuneration Expenses

Wright,Michael Board, Member (Alternate) 5,960 Wright,Wayne Board, Member 18,220 2,421 Wyman,Max Board, Member 12,938 Young,Scott Board, Member 6,002

TOTAL $ 647,873 $ 45,587

FIN-38 Schedule 2 Page 1 of 10

SCHEDULE OF REMUNERATION AND EXPENSES For the year ended December 31, 2007 Employees

(1) (2) Name Remuneration Expenses Total

Alexander,Murray $ 81,051 $ 2,108 $ 83,159 Ali,Amzad 111,091 7,991 119,082 Allan,Chris 97,577 5,717 103,295 Allas,Toivo 169,274 4,625 173,899 Amos,William 81,082 2,931 84,013 Andrusiak,Edward 154,924 1,102 156,026 Archibald,Paul 133,468 6,136 139,604 Arkell,Keith 101,068 756 101,825 Ashley,Kenneth 113,146 5,818 118,965 Austrom,Gordon 87,595 1,475 89,070 Ayalp,Met 79,521 1,081 80,603 Babensee,Chantal 112,094 9,007 121,101 Bains,Udham 73,034 11,038 84,072 Bajkin,Jugoslav 77,303 1,707 79,011 Ballack,Rawle 106,990 534 107,524 Banman,Michael 104,491 2,828 107,319 Baskalovic,Dragan 97,475 404 97,879 Bates-Frymel,Diana 79,130 3,675 82,805 Bator,Bradley 74,437 8,932 83,368 Bean,Roger DA 91,159 1,890 93,049 Beaumont,D 79,680 387 80,067 Bell,Thomas 91,568 - 91,568 Bellwood,Ross 86,256 405 86,661 Benson,Christopher 89,984 - 89,984 Berglund,Michael 73,446 3,066 76,513 Bertold,Stanley 99,225 692 99,916 Bertolone,Nick 125,316 1,142 126,459 Bickford,Karen 94,025 1,945 95,970 Bigg,Terry 75,164 771 75,935 Blankert,Bernie 76,219 - 76,219 Bleick,Anita 108,921 6,996 115,917 Block,Randal 79,822 1,727 81,549 Blue,Bonnie 83,858 4,038 87,895 Bond,Brett 76,645 5,043 81,688 Bonin,Derek 102,776 4,700 107,476 Boss,Michael 113,505 3,866 117,371 Brace,Andrea 161,093 5,908 167,001 Brar,Joey 71,215 6,596 77,811 Brown,Debbie 78,498 2,340 80,838 Brown,Donna 109,484 2,500 111,984 Bungubung,Renato 80,497 4,896 85,393 Burn,William 70,543 6,498 77,041 Burton,Brent 97,380 5,233 102,613 Caird,David 106,329 3,845 110,174 Campeau,Bruce 91,190 30 91,220 Carline,Johnny 260,135 12,061 272,196

(1) includes salary plus any taxable benefits. (2) includes GVRD business-related expenses for training, travel, mileage, membership

FIN-39 Schedule 2 Page 2 of 10

SCHEDULE OF REMUNERATION AND EXPENSES For the year ended December 31, 2007 Employees

(1) (2) Name Remuneration Expenses Total

Carmichael,Jeffrey 73,210 3,737 76,948 Carrusca,Ken 113,975 5,997 119,972 Case,Douglas 77,240 1,489 78,729 Cavill,Robert 134,452 5,880 140,332 Chan,Jeffrey 108,664 2,944 111,607 Chan,Kenneth 91,065 2,559 93,623 Chan,Richard 97,679 4,194 101,873 Chaudhry,Pratibha 75,086 - 75,086 Cheng,Bob 80,497 2,674 83,171 Cheng,Shan 97,763 504 98,267 Cheong,Tony 87,695 984 88,680 Chilton,Alison 78,186 7,539 85,726 Chiu,Vincent 102,848 2,225 105,073 Choy,Harvey 97,128 5,283 102,411 Christie,Robert 89,229 141 89,370 Chu,Alfred KY 110,395 3,628 114,023 Clarke,Martin 79,173 5,614 84,787 Colnett,Dianna 85,729 2,000 87,729 Coulon,Harvey 76,716 3,298 80,014 Coutinho,Ed 112,571 1,585 114,156 Coutts,Robert 87,381 630 88,011 Coutu,Kevin 92,028 1,904 93,932 Cowan,Kathleen 85,751 2,377 88,128 Crosby,Jennifer 91,501 4,834 96,335 Crowle,John 96,773 4,750 101,523 Cruz,Fortunato 99,558 1,611 101,169 Currie,Graham 78,977 1,159 80,136 Dadalt,Wendy 113,772 2,839 116,611 Daines,Gerald 90,421 310 90,731 Dallimore,Howard 96,313 1,200 97,513 D'Angelo,Robert 126,526 2,795 129,321 Davidson,Ian 75,232 249 75,481 Davies,Mike 74,152 948 75,100 DeCosse,Bradley 97,588 417 98,004 Delany,A Lloyd 82,342 3,234 85,576 Del-Linz,Giacomino 79,320 203 79,523 DeMarco,Christina 123,156 4,442 127,597 Der,Kelly 96,787 289 97,076 Dineen,Kevin 108,038 137 108,175 Dolemeyer,Frank 73,676 1,565 75,241 Donaghy,Steven 77,410 1,795 79,205 Donnelly,Daniel 124,910 5,375 130,285 Donnelly,Stephen 105,839 1,700 107,539 Dove,Franklin 80,586 110 80,696 Driedger,Donald 105,908 1,427 107,335 Dunkley,David 101,119 2,691 103,810

(1) includes salary plus any taxable benefits. (2) includes GVRD business-related expenses for training, travel, mileage, membership

FIN-40 Schedule 2 Page 3 of 10

SCHEDULE OF REMUNERATION AND EXPENSES For the year ended December 31, 2007 Employees

(1) (2) Name Remuneration Expenses Total

Dunn,John 86,556 - 86,556 Durran,Rick 96,773 2,803 99,576 Duthie,David 93,281 - 93,281 Duynstee,Theresa 78,336 498 78,834 Eastwood,William 76,125 - 76,125 Ebinesan,Joshua VK 72,600 6,090 78,691 Elliott,James 79,174 3,610 82,784 El-Rayes,Hamdy 125,333 2,740 128,073 Ergudenler,Ali 108,907 4,251 113,158 Erickson,Brian 75,142 222 75,364 Ferguson,A Mark 113,572 6,630 120,202 Ferguson,Michael 92,513 225 92,738 Fisher,Peter 76,307 418 76,725 Ford,Laurie 73,872 2,789 76,662 Forscutt,David 74,671 434 75,105 Forsyth,Scott 111,115 3,687 114,802 Fought,Rob 112,128 1,113 113,242 Franson,Rose-Helene 75,628 540 76,168 Fretz,Laurie 96,513 2,697 99,210 Froess,Douglas 96,773 3,803 100,576 Fung,Henry 93,766 2,179 95,945 Gagnon,Richard TA 74,015 5,371 79,386 Galazka,Kazimierz 82,746 - 82,746 Gale,Tony 80,131 329 80,460 Galick,Brent 83,675 3,759 87,435 Gallilee,Rick 102,110 6,501 108,611 Gant,Murray 99,169 3,636 102,805 Garvock,Michelle 113,669 587 114,256 Gasparro,George 88,649 1,296 89,945 Geche,Lilly 69,099 9,981 79,081 Gehrer,Christopher 76,912 861 77,774 Gentile,Gerry 74,676 1,546 76,221 Gibson,K Andrew 97,421 2,920 100,341 Giesbrecht,Paul 110,037 13,242 123,280 Gilbride,David 109,177 1,860 111,037 Gildemeister,Chrystal 83,783 1,288 85,071 Glasgow,John 74,589 675 75,264 Gogol,Jeffrey 74,205 910 75,115 Goh,Cordelia 78,897 4,876 83,774 Goodine,Larry 91,468 36 91,504 Graham,Malcolm 150,564 3,770 154,335 Graham,Patrick 79,537 1,480 81,017 Green,Matthew 76,484 4,989 81,473 Gregonia,Theresa 94,772 6,216 100,987 Grieve,Beverly 86,534 1,894 88,428 Griggs,Marie 108,718 4,579 113,298

(1) includes salary plus any taxable benefits. (2) includes GVRD business-related expenses for training, travel, mileage, membership

FIN-41 Schedule 2 Page 4 of 10

SCHEDULE OF REMUNERATION AND EXPENSES For the year ended December 31, 2007 Employees

(1) (2) Name Remuneration Expenses Total

Gu,Li 87,538 3,687 91,225 Gulamhussein,Nazmudin 77,529 9,279 86,808 Gulamhussein,Shiraz 90,923 - 90,923 Hajdukovic,Dan 113,376 3,961 117,337 Hampton,Carolyn 72,444 3,456 75,900 Hamza,Danny 77,574 4,583 82,157 Hansford,George 100,884 4,089 104,972 Harder,Susana 80,225 3,388 83,613 Hardie,Johnstone 114,355 4,337 118,692 Harris,Peter 85,777 8,307 94,084 Hayton,Scott 76,397 1,798 78,195 Heath,Howard 178,649 5,050 183,700 Hebert,Robert 78,117 141 78,257 Hengen,Thomas 96,909 3,397 100,306 Heyman,William 85,055 3,919 88,974 Hicks,Robert 108,907 314 109,221 Hicks,Terrance WP 90,134 - 90,134 Ho,Alfred 95,536 5,859 101,395 Hoff,Terry 80,940 953 81,893 Hoffman,David 98,684 1,953 100,637 Hoskins,Doug 75,557 3,257 78,814 Huang,Wei CG 80,315 1,347 81,662 Huber,Frank 130,696 8,267 138,963 Hubert,Barney AG 78,709 87 78,795 Hui,Terry FY 97,421 871 98,293 Humphris,Douglas 128,456 5,824 134,280 Hunt,Andrew 92,139 4,870 97,010 Husoy,Tracey 113,848 2,765 116,613 Hyslop,Ronald 84,703 1,010 85,714 Hystad,Brian 106,469 8,385 114,854 Isbister,Graham 77,023 456 77,479 Islam,Shahzad 91,464 4,999 96,463 Jackson,Robert 84,511 158 84,669 Jacob,Cristina 111,302 7,351 118,653 Jacques,Joseph 98,286 259 98,545 Jadrijev,Renato 76,075 1,582 77,657 Jennejohn,Derek 95,903 489 96,392 Jensen,Gudrun 105,969 2,098 108,067 Jensen,Michael 77,949 1,487 79,436 Jervis,Timothy 182,143 860 183,003 Jessa,Noordin 86,383 7,607 93,989 Johnson,Owen 71,495 8,530 80,025 Jones,Robert 131,635 8,677 140,312 Jung,Don 86,148 8,428 94,575 Juvik,Kenneth 109,622 1,643 111,265 Kadota,Paul 113,944 4,233 118,176

(1) includes salary plus any taxable benefits. (2) includes GVRD business-related expenses for training, travel, mileage, membership

FIN-42 Schedule 2 Page 5 of 10

SCHEDULE OF REMUNERATION AND EXPENSES For the year ended December 31, 2007 Employees

(1) (2) Name Remuneration Expenses Total

Kelder,Mike 82,011 362 82,373 Kelder,Murray 101,533 232 101,765 Kellas,Hugh 169,858 10,982 180,840 Kennett,Michael 88,090 5,037 93,127 Kim,Marian MH 90,086 395 90,481 Kleiberg,Julie 89,374 997 90,371 Kohl,Paul 97,421 2,367 99,789 Konvur,Linda 76,577 2,946 79,523 Kopp,Doug 77,574 141 77,715 Kostachuk,Jerry 88,102 - 88,102 Kuiper,Geert 85,890 26,257 112,147 Kuzyk,Randy 91,041 79 91,120 Kylmala,Senja 73,180 2,278 75,457 Laglagaron,Delia 217,234 10,102 227,336 Laird,Cameron 74,651 1,784 76,435 Lam,Yiu WP 123,368 6,108 129,475 Lan,Yao-Hung 91,092 3,963 95,055 Landry,Lynn 87,527 4,143 91,670 Launder,Vincent 92,192 3,648 95,840 Lee,Kenneth 97,232 4,453 101,685 Legault,Susan 84,513 55 84,568 Legge,Robert 113,773 2,198 115,971 Lenning,Daniel 83,950 4,767 88,717 Lepore,Pietro 78,911 1,307 80,218 Lewis,Norman 76,758 3,079 79,836 Lewis,Steven 107,685 920 108,605 Lindenbach,Kenneth 75,422 1,887 77,309 Littleford,Donald 160,800 5,831 166,631 Liu,George CH 93,335 10,460 103,795 Livingstone,William 74,460 917 75,377 Lowe,Don 90,209 2,731 92,940 Luccock,Edward 96,773 399 97,172 Lui,Gordon 108,959 10,950 119,908 Luongo,Ralph 96,308 620 96,928 Maag,David 97,421 2,246 99,667 MacConnell,Mark 73,814 7,098 80,912 MacFarlane,John 84,785 - 84,785 MacHaffie,Janice 72,389 3,554 75,943 MacKenzie,Sandra 89,632 1,178 90,810 MacLeod,D Clyde 83,975 1,431 85,406 MacQuarrie,Douglas 108,543 4,983 113,526 Manning,Ian 100,289 3,897 104,186 Marchand,Richard 142,108 6,914 149,021 Marchiel,Victor 84,849 2,275 87,124 Marchioni,John 72,156 2,880 75,036 Marconato,John 75,912 505 76,417

(1) includes salary plus any taxable benefits. (2) includes GVRD business-related expenses for training, travel, mileage, membership

FIN-43 Schedule 2 Page 6 of 10

SCHEDULE OF REMUNERATION AND EXPENSES For the year ended December 31, 2007 Employees

(1) (2) Name Remuneration Expenses Total

Marcus,Gerhard 96,864 1,037 97,901 Marr,Andrew 112,834 4,431 117,265 Marsh,Geoffrey 104,431 841 105,272 Mather,D.Wayne 89,358 242 89,600 Maurer,Donald 94,315 5,060 99,374 Maximuk,Gregory 84,057 1,431 85,488 Mayers,Michael 95,686 1,706 97,392 Mazzucco,Sean 78,088 - 78,088 McComb,Tom 90,849 5,029 95,877 McCorkindale,Neil 75,060 225 75,285 McCurrach,Raymond 116,644 10,808 127,452 McElroy,John 93,399 1,087 94,486 McFadyen,Cameron 77,583 3,627 81,211 McFarlane,Ronald 75,174 1,253 76,427 McGillivray,Grant 82,149 - 82,149 McInnes,Alvin 76,983 3,132 80,115 McKenna,William 72,017 3,924 75,941 McKenzie,Catherine 75,809 - 75,809 McLellan,Sean 80,101 1,414 81,515 Mcluskie,Jonathan 71,297 6,112 77,408 McQuarrie,James 104,629 2,808 107,437 McQueen,James Robert 90,350 332 90,682 McQuillan,Dan 79,693 1,159 80,853 Medeiros,Jesse 75,709 - 75,709 Megas,Russell 81,436 435 81,871 Meldrum,Colin 101,104 1,831 102,936 Mennell,Morris 78,325 - 78,325 Merry,Callan 109,113 552 109,665 Meyer,Bill 97,186 2,633 99,819 Meynert,Franz 76,970 603 77,572 Miller,Christopher 86,451 832 87,283 Miller,Donald 81,701 400 82,101 Miller,Douglas 79,963 725 80,688 Miller-Werning,Leslie 72,993 6,618 79,612 Milnes,Katherine 97,504 201 97,704 Mitchell,Allen 97,108 5,320 102,428 Morrell,William 113,080 236 113,316 Morris,Duane 131,429 3,104 134,533 Morrison,Daryl 84,675 68 84,742 Morrissey,Joseph 74,938 6,904 81,842 Mortazavi,Farshad 76,818 3,205 80,022 Morton,Gary 120,144 417 120,561 Muleski,Marilyn 110,855 617 111,471 Mullock,Leonard 115,856 448 116,304 Neale,Michael 76,299 4,518 80,818 Neden,Douglas 131,224 4,461 135,684

(1) includes salary plus any taxable benefits. (2) includes GVRD business-related expenses for training, travel, mileage, membership

FIN-44 Schedule 2 Page 7 of 10

SCHEDULE OF REMUNERATION AND EXPENSES For the year ended December 31, 2007 Employees

(1) (2) Name Remuneration Expenses Total

Nees,Roy 77,951 1,614 79,564 Nenninger,Friedbert 129,054 9,427 138,481 Nesci,Christopher 87,492 - 87,492 Neubauer,Amanda 70,777 4,739 75,516 Ng,Bun 96,856 3,576 100,433 Nicholls,Robert 116,879 8,134 125,014 Nichols,George 80,146 4,100 84,246 Nicol,Gord 104,502 191 104,694 Ninow,Michelle 80,045 9 80,053 Nishimura,Ronald 104,948 445 105,392 Obrknezev,Boris 84,819 2,636 87,455 Oljaca,Goran 108,888 5,323 114,211 Olson,Judy 96,805 1,374 98,179 O'Melinn,Ann 76,039 4,098 80,137 Orr,Darren 75,901 - 75,901 Padovan,Silvano 79,532 504 80,036 Palmeri,Benedetto 83,091 2,087 85,179 Palsenbarg,Rudolf 115,208 4,096 119,304 Paone,Antonio 92,385 - 92,385 Pawluk,Lorne 101,215 3,281 104,496 Pellow,Scott 109,337 3,693 113,030 Perkins,Jim 103,418 11,780 115,198 Peters,Gregory 106,882 240 107,123 Peters,Sharon 106,036 4,154 110,190 Petersen,Douglas 96,865 75 96,941 Piombini,Marino 89,239 822 90,061 Pitre,Marcel 73,805 3,160 76,965 Plagnol,Christopher 98,261 4,039 102,300 Platson,John 78,946 329 79,275 Plavsic,Michael 97,619 691 98,310 Plouffe,Patrick 96,787 2,980 99,767 Plummer,Derek 108,822 2,019 110,841 Potter,Leonard 82,244 1,030 83,274 Praught,Sylvia 75,985 812 76,797 Ptak,Leslaw 97,128 4,174 101,301 Quan,Paul 85,004 726 85,730 Quan,Roger 113,006 9,753 122,760 Ragan,Melanie 97,592 7,740 105,332 Ranahan,Dennis 108,678 4,626 113,304 Randt,Ralph 108,593 1,847 110,440 Reid,Kenneth 77,029 1,079 78,108 Reil,Dean 109,248 9,260 118,507 Remillard,Paul 129,302 4,980 134,282 Reubart,Richard 101,024 824 101,848 Rich,Justin 97,277 2,818 100,095 Robb,Raymond 121,750 2,141 123,891

(1) includes salary plus any taxable benefits. (2) includes GVRD business-related expenses for training, travel, mileage, membership

FIN-45 Schedule 2 Page 8 of 10

SCHEDULE OF REMUNERATION AND EXPENSES For the year ended December 31, 2007 Employees

(1) (2) Name Remuneration Expenses Total

Roberts,Guy 97,665 374 98,038 Robertson,Judy 75,529 422 75,951 Romo,Ignacio 78,356 1,859 80,215 Ross,Dawn 70,050 5,972 76,022 Ross,Lyn 98,238 2,291 100,529 Roth,Robert 75,063 1,599 76,662 Roud,John 79,703 5,398 85,101 Rourke,Nina 80,361 4,973 85,335 Ruf,Mark 78,447 991 79,438 Ruth,Gordon 103,480 125 103,605 Sallows,Shannon 74,300 2,954 77,254 Samis,David 87,877 1,198 89,076 Saunders,James 77,925 6,502 84,427 Schade,Frieda 112,476 2,673 115,149 Schneider,Harvey 80,844 5,552 86,397 Schoemaker,Heather 154,056 12,310 166,366 Schwartzentruber,Chad 74,828 419 75,247 Scott,David 76,303 - 76,303 Scott,Richard 113,124 4,546 117,670 Searle,Michael 101,395 7,975 109,370 Sellars,Iain 101,528 663 102,191 Shaheem,Zahid 76,814 955 77,769 Shao,Xiao Yun 96,026 488 96,514 Sharma,Abyartha 75,516 904 76,420 Sherwood,Deane 78,428 418 78,846 Sherwood,Herbert 75,527 4,476 80,003 Shibata,Kelly 90,071 5,168 95,239 Shore,Linda 160,800 3,301 164,101 Sidi,Shelina 89,981 1,776 91,758 Sinclair,Mark 97,539 498 98,037 Singh,Inderjit 98,775 3,736 102,511 Siu,David 99,456 464 99,920 Smith,Curtis 78,327 1,303 79,630 Smith,Dennis 80,805 - 80,805 Smith,Gregory 170,002 2,070 172,073 Smith,Joseph 92,408 6,229 98,637 Smitheringale,Kenneth 77,135 3,147 80,281 Smyth,Desmond 97,667 5,731 103,398 So,Simon 129,104 4,702 133,806 Sokalski,Mitchell 118,109 266 118,374 Solon,Gary 108,542 4,033 112,575 Soo,Gary 94,327 1,438 95,765 Sorgiovanni,Joseph 97,289 1,978 99,267 Squire,Chris 96,835 3,125 99,959 Stephens,Kenneth 96,747 1,638 98,385 Stephens,Mark 75,907 685 76,593

(1) includes salary plus any taxable benefits. (2) includes GVRD business-related expenses for training, travel, mileage, membership

FIN-46 Schedule 2 Page 9 of 10

SCHEDULE OF REMUNERATION AND EXPENSES For the year ended December 31, 2007 Employees

(1) (2) Name Remuneration Expenses Total

Stevenson,Stephen 79,680 2,770 82,449 Stokes,Lynda 104,071 3,624 107,695 Strangway,Paul 106,503 1,839 108,342 Stringer,Michael 108,520 1,253 109,772 Stuart,Scott 76,312 451 76,763 Stubbs,Kenneth 104,575 5,017 109,593 Suddes,Stephen 100,547 403 100,950 Sukumar,Alady 73,225 2,960 76,186 Sywulych,Steve 97,277 5,457 102,735 Tack,Edmond 80,857 5,864 86,721 Tailford,John 111,248 4,393 115,641 Tancon,Daniel 96,339 945 97,284 Taverner,Andrew 78,597 3,060 81,657 Taw,Richard 98,009 1,674 99,683 Taylor,Alan 93,098 445 93,544 Teo,Dennis 86,322 4,090 90,412 Ternent,Stewart 97,600 711 98,311 Thien,Shaw 102,514 7,184 109,698 Thies,Gordon 75,612 2,123 77,735 Third,Alexander 87,998 2,850 90,848 Thompson,James 75,315 2,830 78,145 Tiffany,Erica 75,413 91 75,504 Tomsic,Heather 86,609 5,450 92,059 Towill,Marilyn 107,239 1,258 108,497 Trotzuk,Philip 136,780 3,303 140,082 Tsang,Tony 97,589 1,044 98,632 Tulett,Rodney 83,426 4,896 88,322 Turner,Karen 97,277 735 98,013 Unger,Horst 94,867 3,358 98,225 Van Oord,Ronald 117,850 4,080 121,930 van Roodselaar,Albert 128,960 5,002 133,962 Vas,Erno 81,682 - 81,682 Vaughan,Bernard 97,848 404 98,252 Veenstra,Ted 75,894 8,600 84,493 Venuti,Gary 94,432 3,787 98,219 Verbeke,Trevor 96,235 - 96,235 Vetleson,Paulette 123,930 5,635 129,565 von Euw,Edward 114,130 4,586 118,716 Vosilla,Robert 108,316 661 108,977 Wallach,Richard 96,773 1,137 97,911 Wallis,Richard 91,923 75 91,998 Walsh,Heidi 76,974 1,157 78,131 Walsh,James 113,264 2,189 115,453 Walter,Nela 86,190 5,032 91,222 Wardlaw,Alistair 97,421 6,012 103,433 Warnock,Miles 80,052 1,066 81,118

(1) includes salary plus any taxable benefits. (2) includes GVRD business-related expenses for training, travel, mileage, membership

FIN-47 Schedule 2 Page 10 of 10

SCHEDULE OF REMUNERATION AND EXPENSES For the year ended December 31, 2007 Employees

(1) (2) Name Remuneration Expenses Total

Warren,Jason 79,564 2,957 82,521 Wdowiak,Iwona 96,657 1,164 97,822 Webster,Andrew 75,091 2,924 78,015 Wellman,Mark 86,389 1,262 87,651 Wells,Allen 75,936 4,752 80,688 Werger,Daniel 75,369 - 75,369 Williams,Brian 97,371 614 97,985 Wilting,Paul 109,013 2,469 111,482 Wishart,Peter 100,592 7,794 108,386 Wong,Ben 89,283 1,851 91,135 Wong,Jeanie 83,012 2,254 85,266 Wong,Michael 84,868 1,507 86,375 Wong,Thomas 97,588 887 98,475 Wood,Ronald 94,053 168 94,220 Woods,Stanley 108,868 3,172 112,040 Wornell,Heather 76,936 3,413 80,349 Wu,Thomas 95,832 3,934 99,765 Yang,Wilbert 97,471 3,990 101,461 Yee,Larry 108,860 1,847 110,707 Yee,Vernon 74,650 1,654 76,304 Yeomans,M 81,554 2,834 84,387 Young,Gordon 96,125 895 97,020 Yuen,Francis 95,965 1,009 96,974 Zimmer,Rob 83,834 8,151 91,985 $ 41,537,570 $ 1,295,945 $ 42,833,516

Consolidated Total of other employees with remunerations and expenses of $75000 or less 47,427,864 1,044,649 48,472,513

Total $ 88,965,434 $ 2,343,339 $ 91,306,029

(1) includes salary plus any taxable benefits. (2) includes GVRD business-related expenses for training, travel, mileage, membership

FIN-48 Schedule 3 Page 1 of 1

SCHEDULE OF REMUNERATION AND EXPENSES

For the year ended December 31, 2007

Reconciliation of Remuneration to Financial Statements

Total Remuneration - Schedule of Remuneration and Expenses:

Employees (Schedule 2) $ 88,965,434

Members of the Board of Directors and Elected Officials (Schedule 1) 647,873

$ 89,613,307

Total Salaries and Benefits per Financial Statements (Consolidated Financial Activities by Object) $ 103,625,178

Items included in Financial Statements but not in Schedules 1 and 2: Employer share of non-taxable payroll remittances (11,735,686) 2007 salaries and benefits accruals (15,660,837)

Item included in Schedules 1 and 2 but not in the Financial Statements: 2006 salaries and benefits accruals 13,384,652

$ 89,613,307

*** For financial statement purposes, accrued employee wages and benefits are included in the financial statements, but are not reflected in remuneration paid to employees.

FIN-49 This page left blank intentionally

FIN-50 Schedule 4 Page 1 of 1

SCHEDULE OF REMUNERATION AND EXPENSES

For the year ended December 31, 2007

Statement of Severance Agreements

There were 5 severance agreements under which payments were commenced between the Greater Vancouver Regional District and its non-unionized employees during fiscal year 2007.

These agreements represent between 1.6 to 7.9 months of compensation.

FIN-51 This page left blank intentionally

FIN-52 Schedule 5 SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES Page 1 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name Payment Amount

4REFUEL CANADA LTD. 83,503 521474 BC LTD. 171,205 563886 BC LTD., INC. NO. 563886 63,146 A & A ANDERSON TANK SERVICE LTD 58,692 A.B.E. LOGGING LTD 374,006 A.R. HYTECH ENGINEERING LTD. 467,110 A.R.THOMSON GROUP 158,522 AAA AUTO COLLISION INC 35,362 ABB INC. 1,078,380 ABBOTSFORD, CITY OF 92,965 ABM JANITORIAL SERVICES CO. LTD. 262,380 ACCURATE GLASS LTD. 48,389 ACE TECH AUTO REPAIRS 45,222 ACKLANDS - GRAINGER INC 521,649 ACME LANDFILL & PEAT LTD 30,252 ACTION GLASS LTD. 55,763 ACTIVE SECURITY PATROL LTD. 94,437 ACUREN GROUP INC. 673,892 ADVANCED DRIVE SYSTEMS INC. 81,066 ADVANCED SYSTEMS INTEGRATORS LIMITED 70,859 ADVANTAGE THERMAL SERVICE LTD 29,611 AEGIS SECURITY LTD 39,415 AIR LIQUIDE CANADA INC 47,364 ALCATEL CANADA INC. 105,498 ALEXANDER CONSTRUCTION LTD. 669,304 ALFA LAVAL INC 111,957 ALL ROUND HOME IMPROVEMENTS AND RESTORATIONS LTD. 107,883 ALLAN, J. D. 215,482 ALLARD CONTRACTORS LTD. 25,662 ALLEGIS GROUP CANADA 148,141 ALLSTAR HOLDINGS INC 25,164 ALMA PLUMBING & HEATING LTD. 773,827 ALOUETTE PAVING LTD. 49,714 ALS ENVIRONMENTAL 40,272 ALTEK INDUSTRIAL SUPPLY LTD 32,101 ALWAYS "ON" UPS SYSTEMS INC. 173,399 AMEC AMERICAS LTD. 524,572 AMERICANN PROCESS GROUP(CANADA) INC. 84,451 AMRE SUPPLY COMPANY LIMITED 116,942 ANACHEMIA SCIENCE 35,971 ANDREW SHERET LTD 36,005 ANGUS & ASSOCIATES 185,605 ANGUS ONE LTD. 40,378 ANIXTER CANADA INC. 41,548 ANSAN INDUSTRIES LIMITED 73,252 ANTHRATECH WESTERN INC. 1,552,468 AON REED STENHOUSE INC. 3,164,176 APT INDUSTRIES LTD 45,910 ARBUTUS ROOFING & DRAINS LTD. 44,982

FIN-53 Schedule 5 SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES Page 2 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name Payment Amount

ARMTEC LIMITED 33,463 ARROW EQUIPMENT LTD 29,055 ARROW TRANSPORTATION SYSTEMS INC. 1,898,142 ARTCRAFT DISPLAY GRAPHICS INC. 94,991 ARTECH ELECTRIC LTD 62,314 ARTHON CONSTRUCTION LTD. 87,259 ASPLUNDH CANADA INC 49,786 ASSOCIATED ENGINEERING (B.C.) LIMITED 566,425 ASSOCIATED LOCKSMITHS 41,255 ATCO STRUCTURES INC. 88,567 ATLAS COPCO COMPRESSORS CANADA 112,200 ATLAS LEASING LTD 27,809 AURORA PAINTING LTD 618,374 AVENSYS INC 167,888 AVENUE MACHINERY CORP. 154,517 AWESOME OPOSSUM WILDLIFE CONTROL 35,650 AWWA RESEARCH FOUNDATION 30,131 AYLA CANOES RENTAL & SALES 44,204 A-Z LOCKMASTERS LTD 43,991 B G CONTROLS LTD. 248,661 B&B CONTRACTING LTD 49,389 B. CUSANO CONTRACTING INC. 204,858 B.A. BLACKTOP LTD 288,637 B.A. BLACKWELL & ASSOCIATES 181,076 B.C. BOILER SERVICES LTD. 47,647 B.C. RECORDS MANAGEMENT SERVICES LTD. 57,819 B.C. RENTALS 77,055 BANK OF MONTREAL 525,687 BARNES WHEATON GM COQUITLAM 101,859 BARRY-HAMEL EQUIPMENT LTD., 69,088 BAY OF ISLANDS HOLDINGS LTD. 37,100 BC BEARING ENGINEERS LIMITED 179,981 BC COMMUNICATIONS INC. 47,083 BC CONSERVATION FOUNDATION 50,433 BC DOCK AND DECK 93,649 BC HOUSING 12,179,750 BC HYDRO AND POWER AUTHORITY 8,602,038 BC LIVESTOCK PRODUCERS CO-OP 46,470 BC SPACES FOR NATURE 65,850 BEAVER ELECTRICAL MACHINERY LTD. 247,234 BELL CANADA 195,533 BELL WEST INC. 85,672 BENNETT LAND SURVEYING LTD. 28,316 BERVIN CONSTRUCTION LTD 578,188 BIG STEEL BOX 52,489 BILFINGER BERGER/FRU-CON JOINT VENTURE BB/FC JV 20,305,133 BIO-AG TECHNOLOGIES INC. 482,995 BIOREM TECHNOLOGIES INC 36,601 BLACK & MCDONALD LTD 244,768

FIN-54 Schedule 5 SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES Page 3 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name Payment Amount

BLACK PRESS GROUP LTD 60,776 BLUE STEEL LTD. 65,004 BOBCAT COUNTRY SALES INC. 34,607 BOC CANADA LTD. 394,505 BOC EDWARDS HIBON 63,106 BODYCOTE TESTING GROUP 29,206 BOLLMAN ROOFING & SHEET METAL LTD 367,605 BONDERUD, KENNETH 113,049 BREMNER, JOHN E. 27,000 BRENNTAG CANADA INC. 1,641,838 BROADWAY ROOFING CO. LTD. 140,603 BRUNETTE INDUSTRIES LTD 152,218 BRYMARK INSTALLATIONS GROUP INC. 307,603 BULL HOUSSER & TUPPER 165,032 BULL, HOUSSER AND TUPPER "IN TRUST" 500,000 BUNZL DISTRIBUTION 29,091 BURNABY, CITY OF 679,947 BURNTSAND 48,764 BUSBY PERKINS & WILL ARCHITECTS CO 63,480 BUTLER SURVEY EQUIPMENT LTD. 64,357 C.D. NOVA LTD. 101,214 C.G. INDUSTRIAL SPECIALTIES LTD 230,638 CACHE CREEK, VILLAGE OF 960,614 CAMBIE ROOFING CONTRACTORS LTD 26,158 CANADA CUSTOMS AND REVENUE AGENCY 25,694,485 CANADA MORTGAGE & HOUSING CORPORATION 109,536 CANADIAN DEWATERING LTD. 500,321 CANADIAN NATIONAL RAILWAYS 82,233 CANADIAN PACIFIC RAILWAY 37,154 CANADIAN TIRES 42,702 CAN-DIVE CONSTRUCTION LTD. 67,374 CANEM WEST OPERATIONS INC 163,908 CANSTAR CONSTRUCTION LTD 59,639 CANTEST LTD. 78,230 CARDINAL TRANSPORTATION BC INC. 26,281 CARLETON RESCUE EQUIPMENT 32,402 CARMICHAEL WILSON PROPERTY CONSULTANTS 58,179 CARTER GM 28,416 CATHERINE BERRIS ASSOCIATES INC. 28,893 CB ENGINEERING LTD 26,242 CERTAPRO PAINTERS 36,718 CH2M HILL CANADA LIMITED 1,212,411 CHAMPION WINDOW & PRESSURE CLEANING SERVICES 63,812 CHEVRON CANADA LIMITED 79,129 CIBA SPECIALTY CHEMICALS CANADA 501,672 CINTAS CANADA LTD 53,696 CIVIL CONSTRUCTION CO LTD 2,648,087 CLANCY ENVIRONMENTAL CONSULTANTS, INC. 101,098 CLEARTECH INDUSTRIES INC. 733,491

FIN-55 Schedule 5 SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES Page 4 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name Payment Amount

CLIMATE CHANGE CENTRAL 38,381 COASTAL FORD SALES LTD 77,260 COLLINGWOOD & ASSOCIATES 29,737 COLUMBIA BITULITHIC LTD. 222,371 COLUMBIA RESTORATION CO. LTD 284,091 COMBINED PAINTING (1985) LTD 36,016 COMMANDER WAREHOUSE EQUIPMENT LTD. 67,413 CONCENTRIX SOLUTIONS INC. 31,558 CONCEPT BUSINESS FURNISHINGS LTD 53,646 CONCORD EXCAVATING & CONTRACTING LTD. 400,268 CONETEC INVESTIGATIONS LTD. 511,544 CONTEXT RESEARCH LTD 149,252 CONTROL SOLUTIONS LTD 429,193 CONVERTEAM CANADA INC 53,162 COQUITLAM SAND & GRAVEL LTD 29,418 COQUITLAM, CITY OF 589,328 CORAL ENGINEERING LTD 38,031 CORIOLIS CONSULTING CORP. 38,607 CORISTINE WOODALL 95,057 CORIX WATER PRODUCTS INC. 42,240 CORIX WATER SYSTEMS INC 66,409 CORNERSTONE PLANNING GROUP 149,693 CORPORATE COURIERS LTD 186,681 COUTTS PULVER LLP (IN TRUST) 62,500 CRAIG INDUSTRIAL & MUNICIPAL SOLUTIONS LTD. 29,193 CREATIVE DOOR SERVICES LTD. 99,614 CROSSIN CORISTINE WOODALL 41,020 CROWN ROOFING & DRAINAGE LIMITED. 28,306 CTH SYSTEMS INC. 117,067 CULEX ENVIRONMENTAL LTD 199,523 CUMMINS WESTERN CANADA 1,186,608 CUSTOM GASKETS LTD. 42,390 D.C. TRAFFIC CONTROL A DIVISION OF INTERPROJECT SYSTEMS INC. 43,554 DALE, KATHI 48,000 DARNEY, ROBERT & NICOL, JANET 28,473 DAYTON & KNIGHT LTD. 354,321 DECENT PAINTING & DECORATING LTD 66,398 DEKOR GLASS (1996) LTD 34,987 DELL COMPUTER CORPORATION 850,343 DELOITTE & TOUCHE LLP 38,463 DELTA AGGREGATES LTD. 544,116 DELTA AIRPARK OPERATING COMMITTEE 53,220 DELTA, CORPORATION OF 3,311,907 DENBOW TRANSPORT LTD 66,399 DESIGN GROUP STAFFING SERVICES INC., THE 49,368 DESIGN ROOFING & SHEET METAL CO. LTD. 37,971 DIAMOND HEAD CONSULTING LTD 63,553 DILLON CONSULTING LTD 406,418 DINWOODIE, AARON 27,419

FIN-56 Schedule 5 SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES Page 5 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name Payment Amount

DIONEX CANADA LTD 80,662 DIRECT ENERGY BUSINESS SERVICES INC 299,841 DIRECT EQUIPMENT WEST LTD. 99,311 DIRECTIONAL MINING & DRILLING LTD. 3,103,791 DMD & ASSOCIATES LTD 31,104 DOBNEY FOUNDRY LTD. 122,317 DOMINION BLUE REPROGRAPHICS 34,518 DOMINION PIPE & PILING 43,159 DON'S FLYER SERVICE 28,670 DORMEL CONTAINERS 36,092 DORR-OLIVER EIMCO 101,158 DRAKE'S UNIVERSAL SALES & SERVICE LTD. 39,692 DTM SYSTEMS CORP. 108,692 DUCKWORTH MANAGEMENT GROUP 106,908 DUECK CHEVROLET, OLDSMOBILE,CADILLAC LTD 377,485 DYNAMIC FACILITY SERVICES LTD. 58,013 EAGLE WEST TRUCK & CRANE INC 233,082 EARTH TECH (CANADA) INC. 41,702 EATON YALE LTD. 30,042 EBA ENGINEERING CONSULTANTS LTD 172,064 EBERLE PLANNING & RESEARCH 45,172 EBSCO CANADA LTD 45,327 ECL ENVIROWEST CONSULTANTS LIMITED 47,845 E-COMM 4,528,425 ECOSTAT RESEARCH LTD 54,791 EDENVALE,DIVISION OF EW DISASTER KLEENUP 25,960 EECOL ELECTRIC (SASK) INC. 152,414 EIC SOLUTIONS LTD. 234,058 EMA CANADA, INC 1,477,245 EMCO CORPORATION 27,270 EMCOR FACILITIES SERVICES INC 31,368 EMERSON PROCESS MANAGEMENT POWER AND WATER SOLUTIONS 639,995 EMS PLUS SAFETY SERVICES 32,609 ENKON ENVIRONMENTAL LTD 311,461 ERNST & YOUNG LLP 134,816 ESRI CANADA LIMITED 63,467 ESSE ENVIRONMENTAL EDUCATION AND COMMUNITY DEVELOPMENT LTD. 113,073 EUREKA CONTRACTING LTD 171,476 EUREST DINING SERVICES 144,039 EVERT HOEK CONSULTING ENGINEER INC. 31,482 EVERYDAY ALLSTAR CLEANING SERVICES LTD. 42,753 EXACT METALS LTD. 58,786 EXCEL DRAPERY INSTALLATIONS LTD. 92,295 F & M INSTALLATIONS LTD 152,329 FAB-KOTE INDUSTRIES LTD 26,174 FAIRBANKS MORSE PUMP CORP. 171,968 FARRIS,VAUGHAN,WILLS & MURPHY 160,645 FASTENAL COMPANY 116,573 FIELD DRILLING CONTRACTORS LTD. 60,857

FIN-57 Schedule 5 SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES Page 6 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name Payment Amount

FINNING INTERNATIONAL INC. 1,329,057 FISHER SCIENTIFIC CO. LIMITED 59,986 FLEETWOOD DISPOSAL 50,751 FLOTECH PUMP 27,552 FLOWSERVE PUMP DIVISION 53,470 FLYNN CANADA LTD 170,961 FOSTERS CONSTRUCTION LTD. 123,464 FOUNDEX EXPLORATIONS LTD. 78,944 FRASER RICHMOND SOIL & FIBRE LTD. 1,896,744 FRASER RIVER PORT AUTHORITY 33,386 FRASER VALLEY EQUIPMENT LTD. 34,385 FRASER VALLEY REGIONAL DISTRICT 74,727 FRED HOLMES FUEL INJECTION DIVISION OF SIMPLE POWER CORP. 52,456 FRIESEN EQUIPMENT LTD. 32,723 G & R SINGH & SON TRUCKING LTD. 72,278 GARTNER INC 42,764 GARTNER LEE 122,446 GE-MULTILIN CANADA INC 32,978 GENERAL CHEMICAL PERFORMANCE PRODUCTS LTD 43,891 GENERAL SWITCHGEAR & CONTROLS LTD 259,604 GENIVAR CONSULTANTS LIMITED PARTNERSHIP 177,770 GEOWARE INC. 66,395 GGEM CONSULTANTS LTD. 49,087 GLEN THOMPSON INDUSTRIES LTD 111,481 GLENTEL INC 156,520 GLOBAL CADD SYSTEMS CORP. 32,001 GMAC COMMERCIAL FINANCE CORPORATION 110,717 GOLDER ASSOCIATES INNOVATIVE APPLICATIONS (GAIA) INC. 45,940 GOLDER ASSOCIATES LTD 1,689,737 GOODBYE GRAFFITI VANCOUVER 27,238 GORDON CRANE & HOIST INC. 29,333 GORDON LATHAM LTD 75,689 GRACOM MASONRY AJV 55,003 GRAHAM CONSTRUCTION AND ENGINEERING INC 4,340,496 GRAHAM INDUSTRIAL SERVICES LTD. 1,281,092 GREAT PEOPLE PERSONNEL LTD. 88,414 GREATER VANCOUVER HISTORICAL PERFORMANCE SOCIETY 25,550 GREATER VANCOUVER TRANSPORTATION AUTHORITY 294,714,920 GREENBRIDGE CONSTRUCTION 161,833 GREENTECH DESIGN LTD 69,865 GUILDFORD FREON RECOVERY 29,972 GUILDFORD REFRIGERATION & APPLIANCE SERVICE LTD 148,249 GUILLEVIN INTERNATIONAL CO. 124,442 GVRDEU 364,106 HABITAT SYSTEMS INCORPORATED 61,278 HANK'S TRUCKING AND BULLDOZING LTD 42,811 HANNA, DAWN 30,131 HARRIS REBAR A DIV OF HARRIS STEEL LIMITED 206,216 HASTINGS INSTITUTE 42,755

FIN-58 Schedule 5 SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES Page 7 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name Payment Amount

HATCH MOTT MACDONALD LTD. 3,135,562 HAYCO INDUSTRIES LTD 29,539 HAYWARD GORDON LTD 58,318 HAZCO ENVIRONMENTAL SERVICES LTD. 86,360 HEMMERA ENVIROCHEM INC. 104,639 HEXCEL CONSTRUCTION LTD 39,013 HIGHLANDS IRRIGATION LIMITED 170,516 HILLCREST CONSTRUCTION LTD 29,813 HILTI (CANADA) LIMITED 115,434 HITCHCO DISTRIBUTORS LTD 26,642 HODGSON KING AND MARBLE LTD 375,748 HOLACO CONSTRUCTION (1997) LTD 27,687 HOME DEPOT SUPPLY 254,294 HONEYWELL LIMITED 379,244 HORIZON FIBERGLASS PRODUCTS LTD. 39,236 HOSKIN SCIENTIFIC (WESTERN) LIMITED 29,911 HOULE ELECTRIC LIMITED 47,666 HUMPHREY METAL BUILDINGS INC. 54,393 HYATT INDUSTRIES LIMITED 26,136 HYDRO-LOGIC ENVIROMENTAL 68,038 IBM CANADA LIMITED 26,167 IDEAL WELDERS LIMITED 694,993 INDUSTRIAL NONDESTRUCTIVE TESTING LTD 77,546 INGLIS, GORDON 51,792 INLAND KENWORTH 39,953 INSURANCE CORPORATION OF BC 592,646 INTERCON SECURITY LIMITED 905,649 INTERCONTINENTAL TRUCK BODY 64,012 INTERLOCK EMPLOYEE & FAMILY ASSISTANCE CORPORATION OF CANADA 59,852 IOTA CONSTRUCTION LTD 215,921 IRC INTEGRATED RESOURCES CONSULTING INC. 67,261 IRL TRUCK CENTRE LTD. 94,367 ITG INDUSTRIAL TRADES GROUP LTD. 77,547 ITT ADVANCED WATER TREATMENT SANITAIRE 78,159 ITT FLYGT 187,600 ITT INDUSTRIES OF CANADA 306,973 ITT INDUSTRIES WEDECO, INC. 1,243,081 J J REFRIGERATION LTD 39,388 J. DEWITT ENTERPRISES LTD. 204,605 J. KERSCHBAUMER INC. 68,830 J.A. ELECTRIC 506,225 J.C. ANDELLE INC 176,265 J.S. FERGUSON CONSTRUCTION INC 1,114,961 JACK CEWE LTD. 30,693 JACQUES WHITFORD 53,282 JARROD PEARCE STUCCO CONTRACTING 42,427 JC AND SONS MANUFACTURING LTD 26,697 JELCON EQUIPMENT LTD 191,377 JEWEL HOLDINGS LTD 433,929

FIN-59 Schedule 5 SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES Page 8 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name Payment Amount

JIFFY JOHN RENTALS LTD. 51,537 JJM CONSTRUCTION LTD. 1,530,657 JOHN CRANE CANADA INC. 73,349 JOHN MEUNIER INC. 325,427 JOHNSON CONTROLS LTD. 33,218 JOHNSTONE BOILER & TANK LTD. 37,454 JPSH ENTERPRISE INC 180,597 JRS ENGINEERING LTD 201,385 KAL TIRE 31,694 KANAKA EDUCATIONAL & ENVIRONMENTAL PARTNERSHIP SOCIETY (KEEPS) 39,895 KANI FOUNDATION TECHNOLOGIES INC. 28,851 KEN MACKAY & SON CONCRETE FORMING LTD 125,741 KENDRICK EQUIPMENT LTD 34,173 KERR WOOD LEIDAL ASSOCIATES 280,739 KINECOR INC. 39,208 KING KUBOTA SERVICES LTD. 33,349 KINGSTON CONSTRUCTION LTD., 3,351,727 KLOHN CRIPPEN BERGER LTD 258,784 KLOHN-CRIPPEN 407,892 KMS TOOLS AND EQUIPMENT LTD. 38,096 KNIGHT PIESOLD CONSULTING 217,308 KOMATSU RENTS 45,447 KPMG LLP 26,697 L.E. STEEL FABRICATORS LTD 78,941 LA CHANCE, CHARLES 41,202 LAFARGE CANADA INC. 187,158 LANDS WEST PROPERTY SERVICES INC 28,988 LANDTEC GROUND EXPERT LTD. 78,694 LANGLEY, CITY OF 29,654 LANGLEY, TOWNSHIP OF 15,075,766 LARRY MCFARLAND ARCHITECTS LTD 27,422 LAURA GALLOWAY DESIGN 85,398 LAWSON PRODUCTS, INC. (ONTARIO) 62,959 LAYFIELD POLY FILMS LTD 30,463 LEA CARPENTER 50,189 LEHIGH NORTHWEST MATERIALS LTD. 76,756 LEVELTON CONSULTANTS LTD. 63,016 LITZ CRANE SERVICE LTD. 238,239 LIVINGSTON INTERNATIONAL INC. 160,973 LOCKMASTERS LTD 63,910 LORDCO PARTS LTD. 43,243 LRF CONSULTANTS LTD. 89,509 LUCID PROJECT MANAGEMENT INC. 35,967 LUXOR LAWN & GARDENS LTD 66,012 LYNX SYSTEMS INC 388,618 M R SMITH LIMITED 36,133 MAIL-O-MATIC SERVICES LTD. 28,360 MAINLAND SAND & GRAVEL LTD. 246,325 MANUFACTURERS LIFE INSURANCE COMPANY 618,137

FIN-60 Schedule 5 SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES Page 9 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name Payment Amount

MAPLE RIDGE TANK CLEANING SERVICE LTD. 48,889 MAPLE RIDGE, CORP. OF THE DISTRICT 1,066,782 MARINE ROOFING & SHEET METAL LTD. 171,895 MARK'S WORK WEARHOUSE 35,448 MASONLIFT LTD 40,408 MAXXAM ANALYTICS INC 73,725 MCCRORY WILDLIFE SERVICES LTD 31,280 MCLAUGHLIN, GORDON ANDREW 52,518 MCRAE'S ENVIRONMENTAL SERVICES LTD. 729,984 MCRAE'S SEPTIC TANK SERVICE (FV) LTD. 53,962 MCS MEASUREMENT CONTROL SERVICES LTD 34,158 MDE ELECTRICAL MECHANICAL CONTRACTORS LT 159,415 MEQUIPCO SALES LTD. 164,413 MERAN INDUSTRIES LTD. 45,383 MERCER HUMAN RESOURCE CONSULTING LIMITED 95,400 MERIDIAN SPECIALTIES INC. 42,991 MERLETTI CONSTRUCTION LTD 192,926 METRICA SERVICES INC. 42,546 METRO MOTORS LTD 320,013 METRO TESTING LABORATORIES LTD 55,888 MGE UPS SYSTEMS INC. 30,891 MHPM PROJECT MANAGERS INC 54,311 MICA CONSULTING PARTNERS 71,277 MIDLYN HR COMMUNICATIONS 433,723 MIERAU CONSTRUCTION LTD 292,041 MILESTONE PROPERTY SERVICES LTD 43,354 MILLS BASICS OFFICE SUPPLIES AND PRINTING 434,563 MINISTER OF FINANCE & CORP RELATIONS 4,067,734 MITCHELL INSTALLATIONS LTD. 515,950 MITEL NETWORKS CORP 191,052 MODU-LOC FENCE RENTALS LTD 27,056 MONTENAY INC. 8,990,255 MOUNTAIN MANUFACTURING 2002 LTD 74,749 MTS ENGINEERING INC. 27,491 MUELLER FLOW CONTROL 402,080 MUNICIPAL FINANCE AUTHORITY OF BC 274,285,443 MUNICIPAL PENSION PLAN 11,786,262 MUTUAL CONSTRUCTION (2000) LTD 253,397 N.W. ENGINEERING LTD. 77,151 NAC CONSTRUCTORS LTD 49,260,228 NALCO CANADA CO. 33,236 NATHEN PRINTING SERVICES LTD. 48,985 NATIONAL AIR TECHNOLOGIES 25,815 NATIONAL PROCESS EQUIPMENT 77,952 NAUTILUS ENVIRONMENTAL 38,451 NCE LIMITED 37,227 ND LEA INC. 29,767 NEDCO 32,323 NEUTRAL ZONE COACHING AND CONSULTING INC, THE 51,770

FIN-61 Schedule 5 SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES Page 10 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name Payment Amount

NEW LIFE PAINTING & DECORATING LTD 70,167 NEW WESTMINSTER, CORP. OF THE CITY 1,817,245 NEWALTA CORPORATION 45,207 NEWCONCEPT INDUSTRIES LTD. 31,461 NEW-LINE PRODUCTS LTD. 83,249 NORAMCO WIRE & CABLE CO.LTD. 28,766 NORPAC CONTROLS LTD. 1,322,776 NORTH AMERICIAN PIPE AND STEEL LTD. 1,445,260 NORTH VANCOUVER, CITY OF 139,881 NORTH VANCOUVER,THE DISTRICT OF 15,190,549 NORTHERN BUILDING SUPPLY LTD. 69,302 NORTHWEST PIPE COMPANY 12,752,592 O.E.M. BATTERY SYSTEMS LTS 41,714 O2 ENVIRONMENTAL 26,038 OAKRIDGE GENERAL CONTRACTORS 438,769 OCE CANADA INC. 28,976 OCEAN CONSTRUCTION SUPPLIES LIMITED 75,876 ODRA CERAMIC TILE 51,346 ON THE SPOT SERVICES INC. 383,015 OTIS CANADA INC 36,658 P SLANEY AQUATIC SCIENCE LTD 29,945 PACE CHEMICALS LTD. 35,419 PACIFIC BLASTING & DEMOLITION LTD. 434,426 PACIFIC BLUE CROSS 2,147,995 PACIFIC COASTCOM COMMUNICATIONS INC 67,723 PACIFIC INDUSTRIAL SCALE CO LTD 57,604 PACIFIC LANDSCAPING 186,724 PACIFIC LIAICON AND ASSOCIATES INC 2,299,604 PACIFIC NEWSPAPER GROUP INC. 66,566 PACIFIC RIM INDUSTRIAL INSULATION LIMITE 43,826 PACIFIC WHOLESALE APPLIANCES LTD. 157,210 PACIFIC-SURREY CONSTRUCTION LTD. 57,243 PANARAMA TECHNOLOGIES LTD. 60,686 PARKWOOD CONSTRUCTION LTD 905,860 PARTNER TECHNOLOGIES INC. 26,609 PAUL FORD AG SERVICES 338,071 PEDRE CONTRACTORS LTD. 11,098,229 PERSONA CONSTRUCTION LTD. 293,446 PERSONNEL DEPARTMENT, THE 55,664 PETER KIEWIT SONS CO. 7,421,170 PETRO CANADA 173,709 PHH VEHICLE MANAGEMENT SVCS 1,245,152 PHILMARK CAPITAL CORPORATION 28,003 PHOENIX MARINE SERVICES INC 93,015 PHOENIX TRUCK & CRANE 172,065 PHSA LABORATORIES SERVICES 115,729 PINTON FORREST & MADDEN GROUP INC 64,835 PITNEY BOWES 86,148 PITT RIVER QUARRIES DIVISION OF WARREN MATERIALS INC. 30,902

FIN-62 Schedule 5 SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES Page 11 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name Payment Amount

PLAN GROUP 41,792 POLAR BATTERY VANCOUVER LTD 48,658 POLLUX CANADA 78,623 PORT COQUITLAM, THE CITY OF 265,406 PORT MOODY, CITY OF 184,958 POWER MEASUREMENT LTD. 40,894 POWER VAC 25,889 POWERTECH LABS INC. 114,026 PRAXAIR DISTRIBUTION 26,608 PRECISION INJECTION MOLDING INC 25,275 PROGRESSIVE MACHINE INDUSTRIES, INC. 47,205 PROGRESSIVE MOWERS 96,322 PRO-LINE FENCE LTD 27,823 PROMAG ENVIRO SYSTEMS LTD 36,438 PROSTAR PAINTING & RESTORATION LTD 81,090 PROTECH WELDING LTD 151,933 PROTOOL INDUSTRIAL SALES AND SERVICE 28,919 PURITY FEED CO (2003) LTD 73,924 QUADRA CHEMICALS LTD. 114,815 QUALICHEM INDUSTRIAL PRODUCTS LTD 53,231 QUANTUM MURRAY FACILITIES LP 42,430 R & M LEASING LTD. 50,119 R.A. OAKLEY LTD. 228,105 R.D.M. ENTERPRISES LTD 63,368 R.F. BINNIE & ASSOCIATES LTD. 319,882 RAIDER-HANSEN INC 29,883 RAINCOAST VENTURES LTD 37,565 RAMCO'S CARPET WAREHOUSE LTD. 776,924 RANDSTAD 39,304 RANKIN SKYLINE SERVICES LTD. 61,162 RARE EARTH RECREATIONAL DEVELOPMENTS INC 52,948 RAYBERN ERECTORS LTD. 65,629 RAYDON RENTALS LTD 54,942 RDH BUILDING ENGINEERING LTD. 89,794 RECEIVER GENERAL OF CANADA 123,750 RECYCLING COUNCIL OF BC 47,460 RELIANCE FOUNDRY COMPANY LTD. 42,508 REMDAL PAINTING & RESTORATION INC 146,567 RESMOR TRUST COMPANY 102,694 REVENUE SERVICES OF BRITISH COLUMBIA 1,072,877 REVERE, INC. 74,688 RICHARDSON, SANDRA MAY 70,600 RICHMOND ELEVATOR MAINTENANCE LTD. 38,947 RICHMOND, CITY OF 15,194,625 RIGHT AWAY TRAFFIC CONTROL SERVICES 26,215 RISKWERX 28,231 RIVERMIST HOLDING LTD 26,148 RMC READY MIX LTD 35,088 ROBERDS EXCAVATING (1991) LTD. 240,387

FIN-63 Schedule 5 SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES Page 12 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name Payment Amount

ROBERTSON KOLBEINS TEEVAN GALLAHER 40,001 ROBINS FLOTECH LTD 115,737 ROCO RESCUE OF CANADA INC. 57,356 ROLLINS MACHINERY LIMITED 207,406 RONA HOME CENTRES 101,780 ROPER GREYELL LLP 190,855 ROSS MORRISON ELECTRICAL LTD. 291,026 ROSS SUPPLY LTD. 101,592 ROYAL BANK OF CANADA 81,645 RWDI AIR INC 89,652 S.A. TEMPORARY SERVICES INC 336,377 S.S.G. HOLDINGS LTD 1,201,634 SAFWAY SCAFFOLD SERVICES INC 71,764 SALMON'S RENTALS LTD. 50,104 SANDPIPER CONTRACTING LTD 52,122 SANDWELL ENGINEERING INC. 1,800,232 SAWTEK CONTRACTING LTD. 48,606 SCREENING SERVICES INTERNATIONAL, INC. 172,766 SCREENING SYSTEMS INTERNATIONAL INC 416,622 SCS ENGINEERS 121,372 SEAWARD ENGINEERING & RESEARCH LTD 49,884 SERVICEMASTER CLEAN 31,541 SHARP & DIAMOND LANDSCAPE ARCHITECTS 152,425 SHARP'S AUDIO-VISUAL LTD. 46,316 SHAW CABLE 37,181 SHAW CABLESYSTEMS COMPANY 43,023 SHELTAIR GROUP RESOURCE CONSULTANTS INC. 134,474 SHELTER INDUSTRIES INC. 90,789 SHERINE INDUSTRIES LTD 51,089 SHERLOCK CATHERINE 43,297 SI SYSTEMS 459,351 SIDHU, S. TRUCKING 96,993 SIELSKY, TERRANCE & ESTHER 27,650 SIEMENS BUILDING TECHNOLOGIES-FIRESAFETY 33,762 SIMARK CONTROLS LTD 48,641 SIMON FRASER UNIVERSITY 71,108 SIMPOWER LTD. 36,978 SINGH FARMS INC. 92,500 SINGLETON URQUHART LEGAL COUNSEL 28,187 SKYDT, PAUL 33,183 SMART TURNER PUMPS 72,145 SMILEY, LORNE IN TRUST 213,879 SMITH CAMERON PUMP SOLUTIONS 33,639 SNAP ON TOOLS 30,311 SNF CANADA LTD. 130,709 SOFTCHOICE CORPORATION 48,590 SOURCE TEST LIMITED 40,375 SOUTHERN CROSS HOLDINGS LTD. 121,443 SOUTHWELL CONTROLS LTD. 60,792

FIN-64 Schedule 5 SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES Page 13 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name Payment Amount

SPAANS BABCOCK INC. 116,984 SPECIALTY EQUIPMENT LTD. 25,576 SPX PROCESS EQUIPMENT - LIGHTNIN 95,782 SQUAMISH NATION 365,738 SSBV CONSULTANTS INC 6,091,577 STANTEC CONSULTING LTD. 375,424 STAPLES BUSINESS DEPOT 30,975 STAPLES MCDANNOLD STEWART 154,724 STAPLES MCDANNOLD STEWART "IN TRUST" 5,323,846 STASUK TESTING & INSPECTION LTD. 380,205 STATUS ELECTRICAL CORP 92,211 STEALTH VALVE 1,531,173 STEELGUARD FENCING 57,274 STEELHEAD INDUSTRIES LTD. 77,230 STEELS INDUSTRIAL PRODUCTS 51,720 STERLING CRANE 46,844 SULLIVAN AMATEUR ATHLETIC & COMMUNITY ASSOCIATION INC. 114,000 SUN LIFE FINANCIAL CANADA 448,363 SUPER SAVE DISPOSAL INC. 493,567 SUPERIOR CITY SERVICES LTD. 89,802 SUPERIOR HANDYMAN SERVICES 465,267 SUPERIOR PROPANE LIMITED 95,166 SURFWOOD SUPPLY LTD. 91,085 SURREY CEDAR LTD 80,009 SURREY FIRE & SAFETY LTD. 94,619 SURREY, CITY OF 2,834,381 SWING TIME DISTRIBUTORS LTD 42,399 SYNCOR BUSINESS ENVIRONMENTS LTD. 27,969 TAB PRODUCTS OF CANADA LTD. 26,493 TALON HELICOPTERS LIMITED 161,999 TARGET LAND SURVEYING LTD. 171,384 TAYLOR DEVICES INC. 182,984 TD CANADA TRUST 128,047 TEAMSTERS LOCAL UNION #31 386,755 TEBO MILL INSTALLATIONS LTD. 39,167 TECK COMINCO METALS LTD. 100,037 TELUS 53,649 TELUS COMMUNICATIONS INC 656,040 TELUS ENTERPRISE SOLUTIONS PARTNERSHIP 58,321 TELUS MOBILITY. 417,606 TERASEN GAS INC. 783,893 TERASEN WATERWORKS 41,542 TERRASOL ENVIRONMENT INC. 126,838 THE GREAT WEST LIFE ASSURANCE COMPANY 2,817,783 THIELMANN, DEREK & MELANIE 50,000 THOMCO SUPPLY LIMITED 82,854 THOS. W. MACKAY & SON LTD. 148,147 THYSSENKRUPP SAFWAY, INC. 184,234 TIMBERLINE TREE SERVICE LTD. 27,072

FIN-65 Schedule 5 SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES Page 14 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name Payment Amount

TIRELAND 44,854 TLD COMPUTERS INC 132,560 TNL CONSTRUCTION SERVICES LTD. 5,909,439 TOMORROWNOW, INC 161,040 TOSHIBA OF CANADA LIMITED 249,558 TP SYSTEMS LTD. 264,926 TRAFX RESEARCH LTD 53,604 TRANSLINK 236,568 TREE ISLAND INDUSTRIES DIV. OF GEORGETOWN WIRE 80,255 TREEN GLOVES & SAFETY PRODUCTS LTD 37,200 TREVOR JARVIS CONTRACTING LTD. 830,372 TRIAGE EMERGENCY SERVICES & CARE SOCIETY 29,701 TRI-ARROW INDUSTRIAL RECOVERY INC 848,982 TRISTAR INDUSTRIES LTD 453,940 TRITON TRANSPORT LTD 126,390 TROJAN TECHNOLOGIES INC. 41,364 TWIN ISLAND EXCAVATING 105,782 TYAM CONSTRUCTION LTD. 183,426 TYCO VALVES & CONTROLS CANADA CANTECH CONTROLS 1,237,199 TY-CROP MANUFACTURING LTD 378,100 UAP INC (D.B.A. NAPA AUTO PARTS) 148,027 UNDERHILL GEOMATICS LTD 37,930 UNISOURCE CANADA INC. 35,758 UNITED AUTO SOUND INC 26,702 UNITED RENTALS OF CANADA 200,975 UNITED WAY OF THE LOWER MAINLAND 68,098 UNITREND PLASTICS MANUFACTURING LTD. 33,080 UNIVAR CANADA LTD 93,451 UNIVERSITY OF BRITISH COLUMBIA 132,971 VALLEY RITE-MIX LTD. 45,365 VALLEY TRAFFIC SYSTEMS INC. 438,063 VAN HOUTTE COFFEE SERVICES INC 27,396 VAN ZYL, SCHALK & KATHRYN 49,170 VANCAR LIGHT TRUCK SALES LTD. 346,000 VANCOUVER - WHISTLER PAINTING INC. 45,959 VANCOUVER COURIER, THE 40,014 VANCOUVER HOLDINGS (B.C.) LTD. 54,906 VANCOUVER PORT AUTHORITY 215,586 VANCOUVER, CITY OF 4,123,261 VANPORT ENTERPRISES LTD 97,046 VARIAN CANADA INC. 52,066 VECTOR DRIVE SYSTEMS INC 426,586 VEOLIA ES CANADA INDUSTRIAL SERVICES INC. 609,890 VIKING CHAIN INC 184,296 VWR CANLAB 94,686 VWR INTERNATIONAL LTD 33,998 VWR SCIENTIFIC PRODUCTS 41,547 WAINBEE LIMITED 85,817 WARD & ASSOCIATES LTD. 72,400

FIN-66 Schedule 5 SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES Page 15 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name Payment Amount

WASTECH SERVICES LIMITED 36,334,238 WATER MANAGEMENT CONSULTANTS 48,511 WATEROUS POWER SYSTEMS 81,914 WATSON GLOVES 50,878 WATSON, LYDIA 38,940 WEIR CANADA INC. 163,876 WEIR-ENVIROTECH PUMP CANADA DIV OF PEACOCK INC 64,531 WESCAN SYSTEMS LIMITED 41,738 WESCO DISTRIBUTION CANADA INC 169,326 WESCO INDUSTRIES LTD. 142,424 WEST COAST CORROSION PREVENTION LIMITED 33,641 WEST COAST EQUIPMENT RENTALS LTD 36,699 WEST COAST FALCONRY INC. 53,334 WEST COAST SAFETY CONSULTANTS 45,050 WEST COAST VULCANIZING 80,745 WEST PACIFIC CONSULTING GROUP 675,003 WEST VANCOUVER, CORP OF THE DISTRICT 651,650 WESTBURNE ELECTRIC SUPPLY 223,004 WESTCAN ENGINEERING AND MACHINERY 56,957 WESTECH ENGINEERING INC. 213,116 WESTECH INDUSTRIAL LTD. 52,077 WESTERN COMPENSATION & BENEFITS CONSULTANTS 63,428 WESTERN FENCE & GATE LTD. 29,716 WESTERN OIL SERVICES LTD 41,269 WESTERN VERSATILE CONSTRUCTION CORP 74,730 WESTLUND INDUSTRIAL SUPPLY LTD 25,614 WESTPRO CONSTRUCTORS GROUP LTD. 5,027,940 WESTWARD FLOORS LTD 30,825 WHITE PINE ENVIROMENTAL RESOURCES INC. 114,857 WHITE ROCK, CITY OF 55,299 WHITELAW TWINING 177,902 WILCO LANDSCAPE CONTRACTORS LTD 3,795,963 WILCOX COMMUNICATIONS INC. 110,939 WILDFIRE FIRE EQUIPMENT INC 54,417 WINVAN PAVING LTD. 120,018 WISMER & RAWLINGS ELECTRIC LTD 36,774 WOLSELEY CANADA INC. 1,438,711 WOOD WYANT INC. 26,832 WORKERS' COMPENSATION BOARD OF B.C. 774,747 XEROX OF CANADA LIMITED 130,208 XS WEST CONSTRUCTION GROUP 28,075 YOHO PROJECTS LTD. 256,761 ZEEMAC VEHICLE LEASE LTD 349,900 ZEP MANUFACTURING COMPANY OF CANADA 33,853 Payments to suppliers of goods and services who received aggregate payments exceeding $25,000 $ 1,017,520,218

FIN-67 Schedule 5 SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES Page 16 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name Payment Amount

Consolidated total paid to suppliers who received aggregate payments of $25,000 or less 10,424,571 Total payments made to Canadian suppliers (excl Grants/Contributions) $ 1,027,944,789

Payments made in 2007 for Grants/Contributions

BIEAP-FREMP 45,000 CITY OF SURREY FIRE DEPARTMENT 45,000 FRASER BASIN COUNCIL 310,000 LOWER MAINLAND TREATY ADVISORY COMMITTEE 285,829 PACIFIC PARKLANDS FOUNDATION 175,000 SEYMOUR SALMONID SOCIETY 83,500 UNITED WAY OF THE LOWER MAINLAND 104,514 VANCOUVER SYMPHONY SOCIETY 36,000

Payments for Grants/Contributions exceeding $25,000 1,084,843

100-MILE DIET SOCIETY 9,000 ARTS CLUB THEATRE COMPANY 9,000 AXIS THEATRE SOCIETY 2,000 BC AGRICULTURE IN THE CLASSROOM FOUNDATION 2,250 BURNABY LAKE PARK ASSOCIATION 10,000 CAROUSEL THEATRE SOCIETY 3,000 FARM FOLK/CITY FOLK 9,000 GREEN THUMB PLAYERS SOCIETY 5,000 KANAKA EDUCATIONAL & ENVIRONMENTAL PARTNERSHIP SOCIETY (KEEPS) 15,000 PACIFIC CINEMATHEQUE PACIFIQUE SOCIETY 4,500 PACIFIC SPIRIT PARK SOCIETY 20,000 PLAYHOUSE THEATRE COMPANY 8,000 PORT MOODY ARTS CENTRE SOCIETY 2,000 RICHMOND GATEWAY THEATRE SOCIETY 2,000 VANCOUVER ART GALLERY 5,000 VANCOUVER EAST CULTURAL CENTRE 5,000 VANCOUVER OPERA ASSOCIATION 18,500

Payments for Grants/Contributions of $25,000 or less $ 129,250

Total Payments made in 2007 for Grants/Contributions $ 1,214,093

Total Payments to Canadian Suppliers ($Cdn) $ 1,029,158,882

FIN-68 Schedule 6 Page 1 of 1

SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES

For the year ended December 31, 2007

Payments to U.S. Suppliers ($US)

Supplier Name Payment Amount

JOHN F MACDONALD, INC. $ 25,097 I. M. IDRISS 25,508 H. P. TURBO INC. 25,766 ESKILSSON, JEPPE N 26,227 KRAFT INDUSTRIAL SUPPLIES LTD. 32,971 CAMP DRESSER & MCKEE INC 37,211 SEA-BIRD ELECTRONICS, INC. 38,417 W. L. GORE & ASSOCIATES INC. 45,000 WHEELABRATOR TECHNOLOGIES INC 50,905 SIEMENS WATER TECHNOLOGIES 52,468 LANGUAGE LINE SERVICES 54,561 OSI SOFTWARE CANADA ULC. 83,109 SCHWING BIOSET INC. 202,012 CHART INC. 390,380

Payments to US suppliers of goods and services who received aggregate payments exceeding $25,000 1,089,632

Consolidated total of all payments to US suppliers who received $25,000 or less 296,574

Total Payments made to US Suppliers ($US) $ 1,386,206

Total Payments made to US Suppliers converted to Canadian $ $ 1,402,841

FIN-69 This page left blank intentionally

FIN-70 Schedule 7 Page 1 of 1

SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES

For the year ended December 31, 2007

Reconciliation of Payments for Goods and Services to Financial Statements 2007

Total payments to Canadian Suppliers (Schedule 5)$ 1,028,873,053

Total payments to US Suppliers - in Canadian dollars (Schedule 6) 1,402,841

$ 1,030,275,894

Total expenditures per Financial Statements (Exhibit B - Consolidated Statement $ 539,693,501 of Financial Activities)

Items included in Financial Statements but not in Schedules 5 and 6: Salaries and benefits per Schedule 3 (103,625,178) Employee's and director's expenses per Schedules 1 and 2 (2,388,926) 2007 Accounts Payable and accrued liabilities (115,651,025) Non-cash adjustments 271,800 Items in Schedules 5 and 6 but not included in expenditures in the Financial Statements: 2006 Accounts Payable and accrued liabilities 98,444,379 Payroll and other remittances 27,227,229 Municipal GST rebate and ITCs 18,037,635 PST remittances relating to revenues collected 312,217 Payments relating to debt financing and debt reserve funds: Payments to members 49,276,743 Payments to GVTA 294,951,488 Payments to Municipal Finance Authority 274,285,443 Payments for GVHC Mortgages 15,382,103 Interest on long-term debt (65,941,515)

$ 1,030,275,894

Difference -

FIN-71 This page left blank intentionally

FIN-72

5.4

Finance Committee Meeting Date: June 12, 2008 Water Committee Meeting Date: June 19, 2008 Waste Management Committee Meeting Date: July 9, 2008

TO: Finance Committee Water Committee Waste Management Committee

FROM: Tim Jervis, Manager, Engineering & Construction Phil Trotzuk, Financial Planning and Operations Manager

DATE: May 30, 2008

SUBJECT: Status of Utilities Capital Expenditures to April 30, 2008

Recommendation: That the Committee receive the report titled Status of Utilities Capital Expenditures to April 30, 2008, dated May 30, 2008 for information.

1. PURPOSE

To report to the Committee(s) the status of utilities capital expenditures.

2. CONTEXT

This is the first in a series of three reports on capital expenditures for 2008 which follows the Capital Expenditure reporting process as approved by the Board. This process provides for regular status reports on capital expenditures with interim reports sent to the Waste Management, Water and Finance Committees in June and October and a final year-end report to the Committees and Board in April.

In addition to this report, due to its size and complexity, separate detailed updates on the Seymour-Capilano Filtration Project are provided to the Water Committee and Board quarterly.

The capital projects are separated into two types: “Ongoing” and “Completed”. Narrative information is provided describing key aspects of specific projects and each project is presented in the context of Total Projected Project Costs to Completion as compared to the Total Approved Budget.

Appendix A contains summary information on “Ongoing Projects” and “Completed Projects”. The information presented is for Total Project Completion which will generally cover multiple years.

4622593 FIN-73 Finance Committee Meeting: June 12, 2008 Page 2 Water Committee Meeting: June 19, 2008 Waste Management Committee Meeting: July 9, 2008 Status of Utilities Capital Expenditures to April 30, 2008

Ongoing Capital Projects:

For ongoing projects, the Water District is projecting a favourable variance of $28.65 million (3.0%) upon completion of which $11.8 million relates to the Seymour-Capilano Filtration Project.

The Sewerage and Drainage District is also projecting a favourable variance of $10.56 million (5.7%) upon completion of ongoing projects.

Completed Capital Projects:

These are projects that were completed during 2007 some of which extended over multiple years. Overall, the Water District and the Sewerage and Drainage District completed projects year-to-date are favourable by $1.68 million (5.3%) and $0.34 million (5.3%), respectively.

Narrative information for specific projects is presented in Appendix B with individual project financial information included as follows: Schedule 1 – Water and Schedule 2 – Sewerage and Drainage (both Liquid and Solid Waste).

Attachments: Appendix A: Capital Expenditure Summary Information as at April 30, 2008 Schedule 1: Water District Capital Expenditures Schedule 2: Sewerage & Drainage District Capital Expenditures Appendix B: Capital Project Status Information as at April 30, 2008

4622593 FIN-74

Appendix A

Capital Expenditure Summary Information As at April 30, 2008

Total Projected Expenditures to ACE/ Total Projected Ongoing Projects Completion Budget Variance Water $935,791,382 $964,446,079 $28,654,697 Sewerage and Drainage $174,185,601 $184,752,605 $10,567,004 Total Ongoing Projects: $1,109,976,983 $1,149,198,684 $39,221,701

Total Actual ACE/ Total 2008 Completed Projects Expenditures Budget Variance Water $29,980,959 $31,666,600 $1,685,641 Sewerage and Drainage $6,018,607 $6,357,000 $338,393 Total Completed Projects: $35,999,566 $38,023,600 $2,024,034

4622593 FIN-75

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004622593 FIN-76 Schedule 1 Water District Capital Expenditures As of Apr 30, 2008

Total Project Total Total Projected ACE / Projected Percent Project on 8.8 Project Total Project Project Complete Schedule? Program Project ID Project Description Actuals Budget Variance Note (Y/N) Comments On-going Grand Totals 935,791,382 964,446,079 28,654,697 Completed Grand Totals 29,980,959 31,666,600 1,685,641

ON-GOING PROJECTS

Seymour Capilano Filtration Project 582,095,741 593,915,000 11,819,259 (e)(h) 75% N Twin tunnels behind schedule. (See Appendix B) A0049 DWTP Ozone Primary Disinf Cons 41,529,394 44,900,000 3,370,606 (a) 99% Y A0052 GVWD Res Circ Program 761,000 761,000 - 97% Y A0053 DWTP Second Disinfect Cons 9,752,949 9,900,000 147,051 (a) 98% Y A0113 Coquitlam Ozone Standby Power 165,277 500,000 334,723 (j) 99% Y A0132 Coq UV Disinfection Predesign 1,000,000 1,000,000 - 89% Y A0133 Seymour Main No3 Upgrades 1,500,000 1,500,000 - 89% Y A0137 Coquitlam Ozone Generator 300,000 300,000 - 27% Y A0155 Coq UV Disinfect Detail Design 4,522,592 5,750,000 1,227,408 (f) 1% Y Drinking Water Treatment Cap 641,626,953 658,526,000 16,899,047

A0030 44th Ave Main Stg 1 Cons 5,603,873 7,000,000 1,396,127 (a) 96% Y A0032 Barnston MR Pump Station 200,000 200,000 - (c) 89% Y A0034 Cape Horn Reservoir Unit 2 420,000 420,000 - 49% Y A0035 Coq Main No 4 Stg 1 Intake 1,100,000 1,100,000 - 13% Y A0036 Maple Ridge Main Stage II 780,000 780,000 - (b) 45% Y A0037 Sasamat Pump Station 115,000 115,000 - 82% Y A0038 Sey Main No 5 Cap Coll to Bow 2,500,000 2,500,000 - 96% Y A0039 Seym Main No 5 Stg 2 Cons 1,800,000 1,800,000 - 95% Y A0041 Sey Main No 5 S Monashee Sect 4,000,000 4,000,000 - 90% Y A0042 Sey Main No 5 S River Crossing 3,700,000 3,700,000 - 93% Y A0122 Sey Main No 5 BC Hydro ROW Sec 11,500,000 11,500,000 - 95% Y A0136 Sey Main No 5 S Maplewood Sect 10,700,000 10,700,000 - 83% Y A0140 Coquitlam Intake No 2 630,000 630,000 - 44% Y A0144 Cap Main 5 Prebuild Phase 1 2,000,000 2,000,000 - 99% Y A0147 Cap Main 5 Pipe Pre Purchase 10,000,000 10,000,000 - 95% Y A0152 Maple Ridge Main Pre-Build 3,500,000 3,500,000 - 0% Y Infrastructure Growth Cap 58,548,873 59,945,000 1,396,127

A0002 Des and Cons Remed E2 Shaft P1 1,500,000 1,500,000 - 79% N Delayed due to SCFP; design work has recommenced. A0050 SCADA Replacement Project 3,000,000 3,000,000 - 35% Y A0075 Phase 2Rem Cons E2 Drain CI Da 850,000 850,000 - 93% Y A0119 SCADA Replacement Proj Des 500,000 500,000 - 80% Y A0134 Douglas Road Main 2 Stage 1 10,364,359 12,500,000 2,135,641 (a) 99% Y A0138 25th Ave Main RAV Project 500,000 500,000 - 71% N Delayed by Canada Line schedule. A0146 Douglas Rd Main 2 Stage II 11,000,000 11,000,000 - 6% Y A0148 25th Ave Main No 2 Design 500,000 500,000 - 91% Y A0150 Douglas Rd Mn2-13 Ave Sect Des 700,000 700,000 - 0% Y A0151 25th Ave Main 2 Construction 9,000,000 9,000,000 - 0% Y A0156 Tilbury Scour Protect 561,000 561,000 - 0% Y A0157 Angus Scour Design 125,000 125,000 - 0% Y Infrastructure Maintenance Cap 38,600,359 40,736,000 2,135,641

A0012 Cleveland Dam E Abut Auto Mon 577,894 600,000 22,106 (i) 93% Y A0014 CD Fish Hatch Impact Mitig 3,550,112 3,900,000 349,888 (g) 87% Y A0016 Little Mtn Res Seis Upg Recon 32,687,921 37,600,000 4,912,079 (a) 99% Y A0018 Design Sec Narrows Tun Bur Inl 850,000 850,000 - 84% Y A0023 Seis Upgrade Kersland Res 3,350,000 3,350,000 - 91% Y A0024 Seymour Falls Dam Seismic Cons 45,749,399 47,800,000 2,050,601 (d)(e) 95% Y A0026 Van Hts Res Remedial Work 3,650,000 3,650,000 - 87% Y A0051 LS Conservation Res Access Imp 3,200,000 3,200,000 - 94% Y A0110 Capilano Main 5 Seismc Upg Des 150,000 150,000 - 80% N Reviewing Cap. Main 5 isolation. A0114 Cap Main 1st Narw Seis Upg Des 250,000 250,000 - 97% N Coordinating work with Environment Canada. A0115 Cambie Rmd Cr Seismic Upgrade 500,000 500,000 - 99% Y A0116 Seism Up Kers LMtn CenPk West 230,000 230,000 - 31% Y A0120 Beach Yard Elec Inf Seismic 1,450,000 1,450,000 - 99% Y A0130 P Mann FR Xing No 2 Detail Des 3,900,000 3,900,000 - 56% N Complex geotechnical conditions A0135 Cambie Richm Mains Seis Const 6,760,000 6,760,000 - 53% Y A0145 Whalley Reservoir Upgrade 2,610,792 3,500,000 889,208 (a)(d) 85% Y Infrastructure Risk Mgmt Cap 109,466,118 117,690,000 8,223,882

A0158 Water Meter Upgrades 120,000 120,000 - 0% N Project delayed due to resource limitations. A0159 Pt.Moody Connector Main Meter 50,000 50,000 - 0% N Project delayed due to resource limitations. Infrastructure Upgrade Cap 170,000 170,000 -

A0097 Boundary Rd Main No 5 I North 20,000,000 20,000,000 - 95% N Slower than anticipated progress by installation contractor. A0142 Boundary Road Main 5 Phase 2 19,500,000 19,500,000 - 75% Y A0143 Boundary Rd Main 5 South Desig 1,000,000 1,000,000 - 98% Y A0149 Boundary Rd Main No 5 Phase 3 39,000,000 39,000,000 - 7% Y A0154 Boundary Rd Main No 5 BHPS 7,500,000 7,500,000 - 28% Y Water Infr Boundary Main 5 Cap 87,000,000 87,000,000 -

Water Infrast Relocation Cap 379,079 379,079 - 46% Y

935,791,382 964,446,079 28,654,697

COMPLETED PROJECTS

A0141 Coq Ozone Power Supply Upgrade 5,335,951 6,560,000 1,224,049 (d) 100% Drinking Water Treatment Cap 5,335,951 6,560,000 1,224,049

A0089 Port Moody Connect Main 2,829,841 2,800,000 (29,841) (k) 100% A0139 Cap Mn 5 Selkirk Lt Mtn Design 499,847 500,000 153 100% Infrastructure Growth Cap 3,329,688 3,300,000 (29,688)

A0013 East Abut Seepage Construction 21,315,320 21,806,600 491,280 (d) 100% Infrastructure Risk Mgmt Cap 21,315,320 21,806,600 491,280

29,980,959 31,666,600 1,685,641

004627853 2008 WD Capital Expenditure Summary - April Page 1 of 2 2008-06-03 FIN-77 Schedule 1 Water District Capital Expenditures As of Apr 30, 2008

Total Project Total Total Projected ACE / Projected Percent Project on 8.8 Project Total Project Project Complete Schedule? Program Project ID Project Description Actuals Budget Variance Note (Y/N) Comments

Notes: (a) Competitive construction market resulted in a positive variance. (b) GVWD share - 59.80%: Maple Ridge share - 40.20% (37615 or A0036). (c) GVWD share - 39.18%: Maple Ridge share - 14.09% : Langley share - 46.73%. (37805 or A0032) (d) Full contingency not required. (e) Actual Expenditures are net of revenue. (f) Competative proposal price for detailed design assignment. (g) Allowance for additional fisheries impact mitigation not required. (h) Separate quarterly status reports for the Seymour-Capilano Filtration Project are being provided to the Water Committee and GVWD Board. (i) Saved money through a successful competitive bid process and project management. (j) Under budget due to scope reduction. (k) Additional drainage and restoration work in Eagleridge Park.

004627853 2008 WD Capital Expenditure Summary - April Page 2 of 2 2008-06-03 FIN-78 Schedule 2 Sewerage and Drainage District Capital Expenditures As of Apr 30, 2008

Total Projects Total Total Projected ACE / Projected Percent Project on 8.8 Project Description Project Total Project Project Complete Schedule? Program Project ID Actuals Budget Variance Note (Y/N) Comments On-going Grand Totals 174,185,601 184,752,605 10,567,004 Completed Grand Totals 6,018,607 6,357,000 338,393 ON-GOING PROJECTS

Z0002 Iona WWTP Fac Plan Upgrade 750,000 750,000 - 92% Y Z0003 Lions Gate WWTP Fac Plan Upgd 250,000 250,000 - 96% Y Z0005 NW Langley WWTP Upgrade 12,000,000 12,000,000 - 82% Y Z0045 LIWWTP Stage4 Phase2 Exp 1,100,000 1,100,000 - 99% Y Z0046 LIWWTP Stage4 Phase2 Expansion 21,000,000 26,000,000 5,000,000 (1)(6) 70% Y Z0047 AIWWTP - Trickling Filter Pump 1,350,000 1,350,000 - 2% N Construction completion delayed due to long pump delivery. G0003 Sapperton Forcemain Const 4,800,000 4,800,000 - 83% Y G0004 Front St Pres Sewer Skytrain 3,750,000 3,750,000 - 88% Y G0009 Katzie Forcemain Twinning Ke 600,000 600,000 - 25% Y G0033 SSI Colebrook Road Section Ph2 10,721,949 14,310,000 3,588,051 (4) 99% Y G0039 NSI 104 Ave Extension 2,400,000 2,400,000 - 99% Y G0040 Maple Ridge FM No 2 Katzie Sec 1,300,000 1,300,000 - 0% Y G0041 Sapperton Pump Station Design 500,000 500,000 - 0% N Delayed due to design flow reassessment. G0042 SSI King George Design 800,000 800,000 - 12% Y G0043 NSI Port Mann Twinning 600,000 600,000 - 0% Y SD Infrastructure Growth 61,921,949 70,510,000 8,588,051

N0001 Columbia St Pump Stn Upgr Con 10,650,000 10,650,000 - 84% Y N0014 Iona WWTP 2003 Motor Cont Repl 970,000 970,000 - 95% N Project delayed due to resource limitations. N0037 LGWWTP 2003 Motor Rep 300,000 300,000 - 94% N Project delayed due to resource limitations. N0040 LGWWTP Digester No 3 RP Repl 3,645,000 3,645,000 - 99% Y North Fraser Way Relief Sewer meter deferred due to re-design N0046 Cost Alloc Billing Network 5,014,677 5,230,000 215,323 (3) 90% N of sewer line.

N0086 Iona WWTP Control and Inst Sys 100,000 100,000 - 92% N Project delayed due to resource limitations. N0187 IIWWTP 2004 Motor Cont Ctr Rep 625,000 625,000 - 38% N Project delayed due to resource limitations. N0189 Iona Is WWTP Contr Instr Rep 200,000 200,000 - 94% N Project delayed due to resource limitations. N0191 Iona Outfall Jetty Repairs PH3 700,000 700,000 - 74% Y N0192 IIWWTP Sed Tanks Struct Assess 200,000 200,000 - 81% Y N0193 Chilco Forcemain Replacement 1,430,000 1,430,000 - 61% Y N0212 LGWWTP 2004 Motor Cont Ctr Rep 275,000 275,000 - 95% N Project delayed due to resource limitations. N0213 LGWWTP Raw SewPump Eng Dr Rep 1,174,216 1,750,000 575,784 (5) 14% N Project scope revised. N0214 LGWWTP Oper Bldg Ren Design 200,000 200,000 - 28% N Project scope revised. N0217 Lulu Is W SA Odour Control Fac 100,000 100,000 - 86% Y N0287 Iona Outfall Control Chamber 650,000 650,000 - 73% Y N0289 Lions Gate WWTP Control n Ins 500,000 500,000 - 98% N Project delayed due to resource limitations. N0290 Iona Is WWTP Control and Ins 750,000 750,000 - 79% N Project delayed due to resource limitations. N0293 LGWWTP 2005 MCC Replacement 200,000 200,000 - 88% N Project delayed due to resource limitations. N0294 IIWWTP 2005 MCC Replacement 600,000 600,000 - 71% N Project delayed due to resource limitations. N0296 Gleneagles PS 2 5 Rehab Design 400,000 400,000 - 21% Y N0297 AIWWTP Liquid Disinfect System 1,390,000 1,390,000 - 25% N Additional site assessment and geotechnical investigation. N0300 Gleneagles PS3 Construction 900,000 900,000 - 88% Y N0303 Iona WWTP Control Instrument 750,000 750,000 - 84% N Project delayed due to resource limitations. N0304 Lions Gate Control Instrument 400,000 400,000 - 76% N Project delayed due to resource limitations. N0306 LGWWTP 2006 MCC Replacement 550,000 550,000 - 13% N Project delayed due to resource limitations. N0307 Iona WWTP 2006 MCC Replacement 700,000 700,000 - 2% N Project delayed due to resource limitations. N0309 LGWWTP Digester4 Refurbishment 580,000 580,000 - 20% Y N0315 Marshend PS Design 800,000 800,000 - 12% Y N0318 FSA Sewer Repair 2,000,000 2,000,000 - 4% Y N0321 LGWWTP Control Instrument 2008 300,000 300,000 - 0% Y N0322 IIWWTP Control Instrument 2008 500,000 500,000 - 0% Y N0323 LGWWTP O&M Facility Constr 300,000 300,000 - 0% Y N0325 Gleneagles PS 1 - Rehab 500,000 500,000 - 0% Y N0326 IIWWTP CEPT Design 1,550,000 1,550,000 - 0% Y N0328 Crescent Scour Protect 506,000 506,000 - 0% Y N0329 Highbury Scour Protect 236,500 236,500 - 0% Y SD Infrastructure Maint Cap 40,646,393 41,437,500 791,107

N0022 Sys Air Mgmt Odour Control 80,000 80,000 - 40% Y N0045 LIWSA Infil Inflow Reduction 463,000 463,000 - 98% N Proposed Brighouse South meter location moved. N0056 FSA Easement Acquisition Progr 1,500,000 1,500,000 - 72% Y N0067 South Surrey Inter Rehab Desgn 200,000 200,000 - 20% N Deferred to 2009. N0188 Harbour PS Phase 3 Upgrades 500,000 500,000 - 99% Y N0301 Jervis FM False Creek Crossing 6,000,000 6,000,000 - 65% N Contractor behind schedule, work to resume in Fall 2008. N0310 Jervis Force Main Planetarium 500,000 500,000 - 34% Y N0311 Highbury Int Siphon Upgrade 500,000 500,000 - 11% Y N0313 Coquitlam Interceptor Repair 150,000 150,000 - 8% Y N0319 Jervis Planetarium 2,300,000 2,300,000 - 2% Y N0327 LGWWTP Refurb of DSST1-Design 300,000 300,000 - 0% N Project delayed due to limited resources. SD Infrastructure Risk Mgmt Cap 12,493,000 12,493,000 -

N0023 VSA Statutory Right of Way 670,000 670,000 - 62% Y N0024 Columbia Forcemain Install 2,900,000 2,900,000 - 98% Y N0025 Grit Chambers Upg Install 100,000 100,000 - 68% Y N0027 8th Ave Interceptor Air Mgmt 100,000 100,000 - 14% Y N0028 Highbury Interceptor Air Mgmt 100,000 100,000 - 69% Y N0030 Jervis St and Kent Ave Pump St 120,000 120,000 - 33% N Project on hold. N0043 NSSA Easement Acq 1995 225,000 225,000 - 81% Y N0057 Bby S Slope Interc West Branch 2,300,000 2,300,000 - 18% N Assessing pipe alignment options. N0058 Cloverdale SSO Storage Fac Cns 3,385,000 3,385,000 - 98% Y N0060 FSA Odour Control Facilities 500,000 500,000 - 83% Y N0062 Burn S Slope Interc Twinning 1,025,000 1,025,000 - 67% N Assessing pipe alignment options. N0064 Ventilation and Odour Control 112,500 112,500 - 2% Y N0065 NW Sewer overflow Oper Impr 800,000 800,000 - 62% Y N0066 New West Const CSO Storage Pro 4,667,000 4,667,000 - 95% Y N0069 Sapperton PS Upgrade Design 1,200,000 1,200,000 - 42% N Delayed due to design flow reassessment. N0070 Sewer Int Vent and Odour 400,000 400,000 - 89% Y N0194 Jervis Forcemain Ext 8th Ave 300,000 300,000 - 13% Y N0282 Jervis Pump Station Wet Well 150,000 150,000 - 84% Y N0284 Sperling Pump Station Upgrade 275,000 275,000 - 61% Y N0295 Port Moody PS Odour Control 250,000 250,000 - 97% Y

004627852 2008 SD Capital Expenditure Summary - April Page 1 of 2 2008-06-03 FIN-79 Schedule 2 Sewerage and Drainage District Capital Expenditures As of Apr 30, 2008

Total Projects Total Total Projected ACE / Projected Percent Project on 8.8 Project Description Project Total Project Project Complete Schedule? Program Project ID Actuals Budget Variance Note (Y/N) Comments N0298 CloverdaleSSO Storage Facility 4,195,000 4,195,000 - 98% Y N0302 Jervis PS Upgrade Construction 489,715 1,400,000 910,285 (5) 8% Y N0308 NW Langley WWTP Facility Plan 300,000 300,000 - 68% Y N0312 Lynn Branch Siphon Twinning 300,000 300,000 - 8% N Scope of work under review. N0314 Port Moody PS Odour Construct 1,222,439 1,500,000 277,561 (1)(6) 51% Y N0320 Jervis Ext to 8th Ave 975,000 975,000 - 2% Y N0324 AIWWTP Gas flow Meter Replace 542,202 542,202 - 0% N Metering technologies under review. SD Infrastructure Upgrade Cap 27,603,856 28,791,702 1,187,846

SD Infrastruct Relocation Cap 330,403 330,403 - 5% Y

X0001 VSA-IONA WWTP Upgrade Design 4,000,000 4,000,000 - 0% Y X0002 NSA-LIWWTP Upgrade Design 2,500,000 2,500,000 - 0% Y X0003 Site Purchase- Lions Gate WWTP 15,000,000 15,000,000 - 0% Y SD Infr Sec Treat Upgrade Cap 21,500,000 21,500,000 -

L0019 Ashcroft Ranch Housing Phase 2 655,000 655,000 - 99% Y SW Ashcroft Landfill Capital 655,000 655,000 -

L0022 COQ LF Flyash Cell 2 Design 200,000 200,000 - 24% Y L0023 COQ LF Flyash Cell 2 Construct 700,000 700,000 - 3% Y SW Landfills Capital 900,000 900,000 -

L0011 Matsqui TS Floor Slab Replacem 75,000 75,000 - 6% N Deferred to Q4 2008. SW Transer Station System Cap 75,000 75,000 -

L0018 Heat Rec Imp Waste to Energy 6,760,000 6,760,000 - 97% Y L0020 NOx Reduction Project Design 900,000 900,000 - 2% Y L0021 Clean Room Project Design 50,000 50,000 - 81% Y L0024 WTEF Fabric Filter Baghouse 200,000 200,000 - 0% Y L0025 WTEF Air Cooled Condenser 150,000 150,000 - 0% Y SW Waste to Energy Fac Cap 8,060,000 8,060,000 -

174,185,601 184,752,605 10,567,004

COMPLETED PROJECTS

G0002 N Surrey Inter 104 Ave Ext design 498,112 500,000 1,888 100% G0006 SSI Twinning Colebrook2 Prop Acq 1,985,245 2,000,000 14,755 100% SD Infrastructure Growth 2,483,357 2,500,000 16,643

N0006 Iona Structural Inspect Corrosion Repair 63 100,000 99,937 (2) 100% N0036 LG Disinfection system upgrade 1,401,627 1,400,000 (1,627) 100% N0051 Sewers Repair & Replacement 225,839 250,000 24,161 100% N0073 Still Ck Brunette Drain Ren 219,287 222,000 2,713 100% N0305 Iona WWTP Jetty Repair 2006 1,107,113 1,200,000 92,887 (1) 100% N0266 Westridge PS No 1 Repairs - 100,000 100,000 (2) 100% SD Infrastructure Maint Cap 2,953,929 3,272,000 318,071

L0016 Ashcroft Ranch Housing Phase 1 581,321 585,000 3,679 100% SW Ashcroft Landfill Capital 581,321 585,000 3,679

6,018,607 6,357,000 338,393

Notes: (1) Project projected to complete under budget - savings due to competitive pricing. (2) Project cancelled. (3) Fewer than the originally budgeted meter sites were built, and we experienced lower than anticipated tender amounts. (4) Project projected to complete under budget due to competitive pricing and improved soil conditions. (5) Reduction in scope. (6) Full contingency not required.

004627852 2008 SD Capital Expenditure Summary - April Page 2 of 2 2008-06-03 FIN-80

Appendix B Capital Project Status Information As at April 30, 2008

1. Greater Vancouver Water District

Major GVWD capital projects are generally proceeding on schedule and within budget. The following capital program items and exceptions are highlighted:

i) Drinking Water Treatment Program

• Construction of the Seymour-Capilano Filtration Project (SCFP) is approximately 75% complete. As of the end of April, this major project was projected to be complete by mid 2010 at a cost of $582 million, under the $600 million budget approved by the Board in 2003. Costs reported herein are to April 30, 2008 prior to termination of the tunnelling contractor’s right to perform further work under the contract. Completion costs and schedule for the twin tunnels component are currently under review and will be better defined once a replacement contractor has been secured.

• Detailed design of the Coquitlam UV disinfection facility is underway with construction scheduled from 2009 to 2010.

ii) Infrastructure Growth Program

• Seymour Main No. 5 was completed and put into service in early August 2007. Final restoration, including paving, was substantially complete in September following completion of a new municipal watermain on behalf of the District of North Vancouver. A number of system tie-ins and valve installations have been ongoing since the fall and are scheduled to complete in June.

• Construction of Capilano Main No. 5 commenced in October 2007 and is approximately 95% complete. The project, including the Oak Street and Cambie Street crossings, is expected to be complete by summer 2008.

iii) Infrastructure Maintenance Program

• The final phase of the E2 drainage shaft upgrade, near Cleveland Dam, was initiated in fall 2007. The design consultant has now started work.

• The replacement of the Supervisory Control and Data Acquisition (SCADA) system for the water system and sewer collection system, including the associated system configuration and programming assignment, continues. It is anticipated that the new system will go live in early May, but run in parallel with the old system until late this year.

• Installation of Douglas Road Main No. 2 – Stage 1 (Delta Avenue and Buckingham Heights Sections) was completed under budget but slightly behind schedule. Both sections of main are now in service.

004622593 FIN-81

• Detailed design for Douglas Road Main No. 2 – Stage 2 (Canada Way South Section) is complete and an installation contract awarded in March. Construction commenced in April and is scheduled for completion in November.

iv) Infrastructure Risk Management Program

• Conceptual design for the proposed tunneled crossing of Burrard Inlet at 2nd Narrows is now complete. The RFP for preliminary design is being prepared and is expected to be ready to issue by July.

• Work on the Seymour Falls Dam Seismic Upgrade project is substantially complete, on schedule and under budget. Tasks remaining for 2008 include some replanting, installation of public amenities at the dam site, operations structure replacement, and mainline road repaving. A number of these tasks are now underway. It is anticipated that these ancillary tasks will be completed by late 2008.

• Detailed design for seismic upgrading of Capilano Main No. 5 (Capilano River pipe bridge crossing) continues. This project is behind schedule as system isolation issues are more complex than originally anticipated, however, a workable solution has been conceptualized. Construction is tentatively scheduled for fall 2008.

• Work on seismic upgrading of Capilano Mains No. 4 and 5 at the North Shaft of the 1st Narrows crossing has been delayed to coordinate with soil remediation being undertaken by Environment Canada (EC) at the Pacific Environmental Centre (PEC) site at the south foot of Capilano Road in North Vancouver. A staged upgrade program has been developed and detailed design is now substantially complete.

• Design of the new tunneled crossing of the Fraser River at Port Mann continues. Discussions continue with the Gateway Program to ensure that property and construction issues are coordinated. Permitting for the project also continues. Detailed design is now anticipated to be complete by late 2008.

• Seismic upgrade of the Cambie-Richmond Mains (Fraser River North Arm crossing) continues. The ground densification contract is now complete, within budget. Repairs to the mains attached to the underside of the Oak St. bridge are now underway under a separate contract. The repairs are expected to be complete by summer 2008 with final system tie-ins scheduled for fall 2008.

v) Infrastructure Boundary Road Main No. 5 Program

• Phase 1 – Work has been underway since May 2006 and is now substantially complete. The remaining work, including pipe cleaning, testing and restoration, is expected to be complete by June. This phase of the project is behind schedule due mainly to slower than anticipated progress by the installation contractor. However, the overall Boundary Road Main No. 5 project remains on schedule for completion in early 2009.

• Phase 2 – Construction started in September 2007 along Rupert Street, between 1st Avenue and 29th Avenue, in Vancouver. Work is approximately 80% complete. This phase is on schedule and is expected to be complete by July.

004622593 FIN-82

• Phase 3 – Detailed design is about 95% complete. A contract for steel pipe pre- purchase was awarded in December 2007. Construction tenders (2) are scheduled to be issued in May and June, respectively. Completion of this final phase of Boundary Road Main No. 5 is projected by early 2009.

2. Greater Vancouver Sewerage & Drainage District a) Liquid Waste

Major GVS&DD liquid waste capital projects are generally proceeding on schedule and within budget. The following capital program items and exceptions are highlighted:

i) Infrastructure Growth Program

• LSA – Lulu Island WWTP Stage 4 Expansion – This major expansion project is under budget and on schedule for completion in July 2008.

• FSA – North Surrey Interceptor – 104th Avenue Extension – Construction started in July 2007 and is now substantially complete. This facility was placed into service in late January.

ii) Infrastructure Maintenance Program

• VSA - Columbia Pump Station – Construction is proceeding well and is approximately 75% complete. Project completion and commissioning are expected by July.

• VSA/NSSA – Motor Control Centre (MCC) Replacement and Control/Instrumentation Programs – Behind schedule due to limited electrical engineering resources. All of these phases are anticipated to be complete by early 2009.

• FSA – Annacis Island WWTP Disinfection System - Predesign completed and proceeding into detailed design, with site preparation/preload work scheduled for July and commencement of construction in December.

• NSA – Lions Gate WWTP Digester No. 4 Refurbishment – Digester cleaning and inspection work is scheduled for July.

iii) Infrastructure Risk Management Program

• VSA - Jervis Forcemain False Creek Crossing – Tunnelling under False Creek, by horizontal directional drilling, is now substantially complete except for the final reaming of the tunnel bore. Numerous delays have been experienced by the contractor in completing this phase of the work. As a result, completion of the remaining work will be postponed until fall/winter 2008 due to the heavy summer use at Vanier Park and Sunset Beach.

004622593 FIN-83

iv) Infrastructure Upgrade Program

• FSA - Burnaby South Slope Interceptor West Branch – Land acquisition issues continue to delay this project. Staff are reviewing possible alignment revisions to resolve this issue.

• FSA - Cloverdale SSO Storage Facility – Construction, including commissioning and site restoration, is complete and the facility has been put into operation.

• FSA - New Westminster CSO Storage Facility and Poplar Landing Sewer – Construction of all three major project components including the CSO storage tank, the Poplar Landing sewer and the control building is complete. Following testing and commissioning, the entire system is expected to be operational by June.

• FSA – Sapperton Pump Station – Detailed design started in December and is expected to be complete by the end of 2008 with construction planned for 2009/2010.

• FSA – Port Moody Pump Station Odour Control Facility – Construction of this project, which includes odour control, seismic upgrade and beautification, is now complete.

b) Solid Waste i) Ashcroft Ranch Program

• Phase 2 Ranch Housing construction is complete and the houses are occupied.

ii) Landfills Program

• Flyash Cell No 2 cover design is being coordinated with the Coquitlam Landfill closure plan.

iii) Transfer Station Program

• The Matsqui Transfer Station Floor Replacement project has been deferred until the fourth quarter of 2008 as the existing floor continues to exceed expectations for wear.

iv) Waste-to-Energy Facility Program

• Phase 1 heat recovery improvements at the WTEF were completed under budget. The Board approved application of surplus funds to Phase 2. Heat Recovery improvements are substantially complete and are scheduled to be in service by early May.

004622593 FIN-84 5.5

Finance Committee Meeting Date: June 12, 2008

To: Finance Committee

From: Gord Nicol, Comptroller Treasury

Date: June 5, 2008

Subject: Floating Rate Exposure to April 30, 2008

Recommendation: That the Finance Committee receive the report titled “Floating Rate Exposure to April 30, 2008” dated June 5, 2008 for information.

1. PURPOSE

To report on the GVRD’s exposure to interest rate risk from floating rate debt, as required by policy.

2. CONTEXT

By Policy our exposure to floating rate debt is capped at 20% of total debt. In the past it has been rare that we have reached or exceeded this limit and our current results show that we are well below the maximum established.

The actual fixed and floating rate debt with the effective rates, the maximum level of floating rate debt permitted under policy, and the percentage actual floating rate debt is of our total debt are provided on the attached Schedule 1.

3. ALTERNATIVES

N/A

4. CONCLUSION

All Floating Rate Debt continues well below the 20% maximum allowable limit.

GN/eb Attachment

Doc. #004624232

FIN-85 Schedule 1

FIXED DEBT & FLOATING RATE EXPOSURE 27-May-08 (Using TMAN Report 330 & 265) January '08 February March April

GVWD (30)

Capital Debt Fixed Debt $ 629,363,071 $ 629,363,071 $ 629,363,071 $ 669,363,071 Weighted effective Fixed Rate 5.42% 5.42% 5.42% 5.38% Floating Rate Debt 0 0 5,753,077 16,566,021 Effective Floating Rate 4.49% 4.22% 4.04% 4.46% Total Debt $ 629,363,071 $ 629,363,071 $ 635,116,148 $ 685,929,092

Max Permitted Floating Debt 157,340,768 157,340,768 157,340,768 167,340,768 Actual Floating Rate Debt 0 0 5,753,077 16,566,021 Actual Floating Rate Debt as a % of Total Debt 0.0% 0.0% 0.9% 2.4% Actual Fixed Debt as a % of Total Debt 100.0% 100.0% 99.1% 97.6%

GVS&DD - LIQUID WASTE (51)

Capital Debt Fixed Debt $ 425,790,330 $ 425,790,330 $ 425,790,330 $ 425,790,330 Weighted effective Fixed Rate 5.82% 5.82% 5.82% 5.82% Floating Rate Debt 1,964,579 4,062,293 6,512,818 7,801,524 Effective Floating Rate 4.49% 4.22% 4.04% 4.46% Total Debt $ 427,754,909 $ 429,852,623 $ 432,303,148 $ 433,591,854

Max Permitted Floating Debt 106,447,583 106,447,583 106,447,583 106,447,583 Actual Floating Rate Debt 1,964,579 4,062,293 6,512,818 7,801,524 Actual Floating Rate Debt as a % of Total Debt 0.5% 0.9% 1.5% 1.8% Actual Fixed Debt as a % of Total Debt 99.5% 99.1% 98.5% 98.2%

GVS&DD - SOLID WASTE (60)

Capital Debt Fixed Debt $ 41,098,676 $ 41,098,676 $ 41,098,676 $ 41,098,676 Weighted effective Fixed Rate 6.36% 6.36% 6.36% 6.36% Floating Rate Debt 0 0 0 13,043 Effective Floating Rate 4.49% 4.22% 4.04% 4.46% Total Debt $ 41,098,676 $ 41,098,676 $ 41,098,676 $ 41,111,719

Max Permitted Floating Debt 10,274,669 10,274,669 10,274,669 10,274,669 Actual Floating Rate Debt 0 0 0 13,043 Actual Floating Rate Debt as a % of Total Debt 0.0% 0.0% 0.0% 0.0% Actual Fixed Debt as a % of Total Debt 100.0% 100.0% 100.0% 100.0%

Total Fixed Utility Debt (above) $ 1,096,252,077 $ 1,096,252,077 $ 1,096,252,077 $ 1,136,252,077 Regional District Fixed (Park Debt) $ 13,250,001 $ 13,250,001 $ 13,250,001 $ 13,250,001 Direct Regional District Liability $ 1,109,502,078 $ 1,109,502,078 $ 1,109,502,078 $ 1,149,502,078

Total Floating $ 1,964,579 $ 4,062,293 $ 12,265,895 $ 24,380,588 Floating Percent of Total 0.18% 0.37% 1.11% 2.12%

FIN-86 5.6

Finance Committee Meeting Date: June 12, 2008

To: Finance Committee

From: Gord Nicol, Comptroller Treasury

Date: June 5, 2008

Subject: Investment Position and Returns – January 1, 2008 to April 30, 2008

Recommendation: That the Finance Committee receive the report titled “Investment Position and Returns – January 1, 2008 to April 30, 2008” dated June 5, 2008 for information.

1. PURPOSE

To report the investment returns pursuant to the requirements of the Investment Policy.

2. CONTEXT

Policy requires that investment returns be reported to the Committee three times per year. This is the first report for 2008.

Regular cash demands as well as our conservative investment strategy require that we maintain a high degree of liquidity in our investment portfolio including both short and long term investments. Our short term investments, those with terms of less than one year and the highest degree of liquidity, are used to meet our working capital requirements. Short term investments normally include Canada Treasury Bills, Provincial debt instruments and Banker’s Acceptances.

Long term investments have terms of greater than one year. These investments normally include primarily Canada, Provincial and Bank bonds, are less liquid than our short term investments and are held both to manage the risk of interest rate fluctuations and for funding requirements of a longer term perspective. Long term investments include the Cultural Grant Reserve where annual investment returns fund the GVRD’s annual contribution to cultural activities.

FIN-87 Finance Committee – June 12, 2008 Page 2 Investment Position & Returns - January 1, 2008 to April 30, 2008

Investment Portfolio Returns

SUMMARY OF INVESTMENT RESULTS PERIOD SHORT TERM LONG TERM CULTURAL RESERVE Jan to April 2008 1.35% 1.53% 1.48% Estimated Annual Rate 4.05% 4.59% 4.44% Table 1

Comparison to Benchmarks Policy requires that we compare our actual performance against specific benchmark returns. The selected benchmarks for both short and long term investments, indicated below, are consistent from period to period and are meant to be indicative of each of our portfolios on an ongoing basis.

Short Term Investment Performance

INVESTMENT RESULTS SHORT TERM PORTFOLIO - COMPARISON TO BENCHMARKS CURRENT PERIOD ESTIMATED ANNUAL RATE GVRD Short Term 1.35% 4.05% One Month B/A 1.26% 3.79% Three Month B/A 1.26% 3.78% One Month Treasury Bills 0.95% 2.87% Table 2

The estimated annualized return on our short term Investment portfolio at 4.05% exceeded the return all of our benchmark references during our first reporting period of 2008. During this period the Bank of Canada lowered the overnight funding rate a total of 125 basis points causing Canadian short term investment rates to rally substantially.

Our benchmarks are based on the average yields for each month in the period as taken from the Bank of Canada website. As these are "annual" rates we divide by 3 to get an approximate four month return which we compare to our actual performance. During periods of quickly falling rates, as we have seen this reporting period, the method of calculating our benchmark returns will be biased towards lower yields and should be kept in mind when comparisons are made.

FIN-88 Finance Committee – June 12, 2008 Page 3 Investment Position & Returns - January 1, 2008 to April 30, 2008

At April 30, 2008 our Short Term Portfolio held a total of $177.9 million dollars (at cost) representing 58% of our total investments. The average term to maturity is 49 days and the average return is 3.42%.

Schedule 1 following this report provides a listing of our short term investments as of April 30, 2008.

Long Term Investment Performance

INVESTMENT RESULTS LONG TERM PORTFOLIOS - COMPARISON TO BENCHMARKS CURRENT PERIOD ESTIMATED ANNUAL RATE GVRD Long Term Portfolio 1.53% 4.59% Cultural Reserve Portfolio 1.48% 4.44% Benchmark – MFA Bond Fund 2.07% 6.21% Table 3

Performance on our long term investments is favourable for the first period of 2008. With an estimated annual return of 4.59% and 4.44% on our portfolios, although not matching the exceptional performance of the MFA, still represent solid returns. Please remember that we have discontinued incorporating market value changes into our return calculations. Given the rally that we have seen in interest rates during this first period, particularly in high quality bonds, it would be expected to have positive market value changes thus contributing to the MFA's very positive return. Please refer to the Bank of Canada graph below showing the rally in 1 to 3 year bonds since the beginning of 2008.

Our main long term investment portfolio is comprised of approximately 60% provincial bonds, 33% Canadian bank bonds and 7% Other government (MFA) bonds. This portfolio has an average term of 2.4 years with an average return of 4.46%. The main portfolio comprises $127.4 million (at cost) which represents 41% of our total investments at April 30, 2008. The cultural reserve makes up the other one percent with $2.5 million invested (at cost) and has an average tern of 3.6 years with an average return of 4.51%.

GOVERNMENT OF CANADA 1 TO 3 YR BONDS (BK OF CANADA)

Jan /08 Approx yield 3.70%

April 30/08 Approx yield 2.75%

A complete listing of the investments in each of our long term portfolios can be found on Schedules 2 (Main Long Term) and Schedule 3 (Cultural Reserve) following this report.

FIN-89

Finance Committee – June 12, 2008 Page 4 Investment Position & Returns - January 1, 2008 to April 30, 2008

MFA:

In addition to the above noted short and long term investments that we actively manage, our investments also include those held on our behalf by the Municipal Finance Authority.

At December 31, 2007 the MFA held $423.3 million in sinking fund investments for GVWD, GVS&DD and GVRD debt retirement. These investments are invested to earn returns such that the investment plus the income earned is sufficient to meet our future debt retirement obligations. The sinking fund balances are updated at year-end for financial statement purposes.

3. ALTERNATIVES

N/A

4. CONCLUSION

Overall, short and long term investment performance for the period was acceptable. Our investment portfolios maintain only quality investments and are favorably positioned given our market expectations.

GN/eb Attachments

Doc. #004623428

FIN-90 GREATER VANCOUVER DISTRICTS Schedule 1

SHORT TERM INVESTMENTS LISTING BY ORGANIZATION UNIT Apr 30, 08

CONTROL MATURITY COST PURCHASE MATURITY DAYS O/S YIELD DESCRIPTION NUMBER AMOUNT DATE DATE TO MATURITY %

REGIONAL REVENUE (FUND 11)

BANK OF MONTREAL 800047 3,500,000 3,481,310 Mar 11, 08 May 5, 08 5 3.56 BA 700116 5,000,000 5,000,000 May 14, 07 May 12, 08 12 3.92 Floating 800052 10,000,000 9,924,900 Mar 25, 08 Jun 11, 08 42 3.54 BDN 800071 5,000,000 4,964,450 Apr 23, 08 Jul 15, 08 76 3.15 BA 23,500,000 23,370,660

BANK OF NOVA SCOTIA 800034 9,000,000 8,913,510 Feb 15, 08 May 16, 08 16 3.89 BDN 800066 5,000,000 4,955,200 Apr 16, 08 Jul 18, 08 79 3.55 BDN 800070 10,000,000 9,919,600 Apr 23, 08 Jul 25, 08 86 3.18 BDN 800079 5,000,000 4,960,450 Apr 30, 08 Jul 30, 08 91 3.20 BDN 29,000,000 28,748,760

CANADIAN IMPERIAL BANK OF COMMERCE 800031 5,000,000 4,952,450 Feb 11, 08 May 12, 08 12 3.85 BA 800039 1,700,000 1,685,737 Feb 25, 08 May 15, 08 15 3.86 BA 800038 3,800,000 3,767,738 Feb 25, 08 May 16, 08 16 3.86 BA 800068 4,300,000 4,285,165 Apr 17, 08 May 23, 08 23 3.51 BA 800050 1,000,000 993,160 Mar 24, 08 Jun 3, 08 34 3.54 BA 800072 10,000,000 9,929,700 Apr 23, 08 Jul 14, 08 75 3.15 BA 25,800,000 25,613,950

COAST CAPITAL CREDIT UNION 800036 2,500,000 2,500,000 Feb 22, 08 May 23, 08 23 4.10 TermDep 800040 3,000,000 3,000,000 Feb 29, 08 May 30, 08 30 3.96 TermDep 800053 7,000,000 7,000,000 Mar 25, 08 Jun 27, 08 58 3.75 TermDep 800049 5,000,000 5,000,000 Mar 19, 08 Jun 27, 08 58 3.74 TermDep 800076 4,000,000 4,000,000 Apr 24, 08 Jul 25, 08 86 3.38 TermDep 21,500,000 21,500,000

HSBC BANK CANADA 800044 5,000,000 4,969,300 Mar 10, 08 May 12, 08 12 3.58 BA 800037 5,000,000 4,953,550 Feb 22, 08 May 20, 08 20 3.89 BA 800048 5,000,000 4,955,200 Mar 19, 08 Jun 20, 08 51 3.55 BDN 800073 5,000,000 4,972,300 Apr 23, 08 Jun 26, 08 57 3.18 BDN 800057 4,000,000 3,964,600 Mar 31, 08 Jun 30, 08 61 3.58 BA 800061 3,000,000 2,972,610 Apr 11, 08 Jul 15, 08 76 3.54 BDN 800078 5,000,000 4,960,000 Apr 30, 08 Jul 31, 08 92 3.20 BDN 32,000,000 31,747,560

NATIONAL BANK OF CANADA 800045 5,000,000 4,970,850 Mar 10, 08 May 9, 08 9 3.57 BA 800067 10,000,000 9,914,700 Apr 17, 08 Jul 16, 08 77 3.49 BA 800069 5,000,000 4,961,400 Apr 23, 08 Jul 21, 08 82 3.19 BA 20,000,000 19,846,950

ROYAL BANK OF CANADA 800041 7,000,000 6,957,580 Mar 3, 08 May 2, 08 2 3.71 BA 800042 3,000,000 2,973,090 Mar 4, 08 Jun 4, 08 35 3.59 BDN 800051 9,000,000 8,919,990 Mar 24, 08 Jun 25, 08 56 3.52 BDN 800062 3,000,000 2,973,960 Apr 14, 08 Jul 14, 08 75 3.51 BA 22,000,000 21,824,620

TORONTO DOMINION BANK 800046 5,300,000 5,267,988 Mar 10, 08 May 12, 08 12 3.52 BA

179,100,000 177,920,488

AVERAGE TERM 49 DAYS AVERAGE YIELD 3.42%

FIN-91 GREATER VANCOUVER DISTRICTS Schedule 2

LONG TERM INVESTMENTS LISTING BY ORGANIZATION UNIT - April 30, 2008

CONTROL MATURITY COST PURCHASE MATURITY DAYS O/S YIELD COUPON DESCRIPTION NUMBER AMOUNT DATE DATE TO MATURITY % RATE

REGIONAL LONG TERM POOL INVESTMENTS

PROVINCE OF ALBERTA 700254 10,000,000 10,074,500 Nov 2, 07 Dec 16, 08 230 4.30 5.00 Bond

PROVINCE OF BC 600285 5,000,000 5,187,650 Aug 22, 06 Jun 1, 09 397 4.25 5.70 Bond 600258 3,000,000 3,110,400 Aug 15, 06 Jun 1, 09 397 4.28 5.70 Bond 600259 3,000,000 3,194,820 Aug 15, 06 Jan 9, 12 1,349 4.38 5.75 Bond 600398 5,000,000 6,257,500 Dec 21, 06 Aug 23, 13 1,941 4.14 8.50 Bond 600319 3,000,000 3,765,150 Sep 22, 06 Aug 23, 13 1,941 4.21 8.50 Bond 19,000,000 21,515,520

BANK OF MONTREAL 600264 1,500,000 1,506,645 Aug 16, 06 Mar 31, 09 335 4.47 4.66 Bond 600106 2,000,000 2,013,820 Apr 19, 06 Mar 31, 09 335 4.44 4.66 Bond 600265 1,500,000 1,492,170 Aug 16, 06 Sep 4, 09 492 4.48 4.30 Bond 800074 1,400,000 1,410,500 Apr 28, 08 Sep 4, 12 1,588 4.84 5.04 Bond 6,400,000 6,423,135

BANK OF NOVA SCOTIA 300353L2 100,000 99,900 Dec 16, 03 Aug 22, 08 114 4.32 4.30 Bond 300353L3 100,000 99,900 Dec 16, 03 Aug 22, 08 114 4.32 4.30 Bond 600105 500,000 499,500 Apr 19, 06 Aug 22, 08 114 4.35 4.30 Bond 600283 2,000,000 1,963,220 Aug 21, 06 Sep 2, 08 125 4.42 3.47 Bond 600263 2,000,000 2,001,700 Aug 16, 06 Nov 19, 08 203 4.46 4.52 Bond 800059 3,000,000 2,974,890 Apr 8, 08 Mar 27, 13 1,792 5.18 4.99 Bond 7,700,000 7,639,110

CANADIAN IMPERIAL BANK OF COMMERCE 600042 1,396,880 1,401,001 Feb 17, 06 Aug 26, 08 118 4.27 4.40 Bond 600043 976,603 979,484 Feb 17, 06 Aug 26, 08 118 4.27 4.40 Bond 600044 626,516 628,365 Feb 17, 06 Aug 26, 08 118 4.27 4.40 Bond 600289 2,000,000 2,002,480 Aug 24, 06 Aug 26, 08 118 4.34 4.40 Bond 800063 2,000,000 2,019,980 Apr 17, 08 Sep 2, 10 855 4.49 4.95 Bond 800060 2,000,000 1,994,820 Apr 8, 08 Sep 10, 12 1,594 5.06 5.00 Bond 9,000,000 9,026,130

HSBC BANK CANADA 600282 2,000,000 1,964,400 Aug 21, 06 Sep 2, 08 125 4.42 3.50 Bond 700117 1,000,000 1,000,000 May 17, 07 May 22, 09 387 3.97 0.00 Floating

PROVINCE OF MANITOBA 700252 6,000,000 6,006,720 Nov 2, 07 Dec 1, 08 215 4.33 4.45 Bond 600261 3,000,000 3,163,650 Aug 15, 06 Sep 1, 09 489 4.31 6.25 Bond 600399 3,000,000 3,739,500 Dec 21, 06 Jul 22, 13 1,909 4.17 8.50 Bond

MUNICIPAL FINANCE AUTHORITY OF BC 300242L2 75,000 74,820 Oct 3, 03 Oct 3, 09 521 4.29 4.25 Bond 300243L2 75,000 74,798 Oct 3, 03 Oct 3, 10 886 4.54 4.50 Bond 500023r 300,000 329,700 Jan 28, 05 Jun 1, 11 1,127 4.11 5.90 Bond 600330 3,000,000 3,189,000 Oct 10, 06 Dec 3, 12 1,678 4.08 5.25 Bond 600318 3,000,000 3,126,450 Sep 22, 06 Dec 3, 13 2,043 4.21 4.90 Bond 600406 2,000,000 2,082,600 Jan 2, 07 Dec 2, 14 2,407 4.28 4.90 Bond

NATIONAL BANK OF CANADA 700232 3,000,000 2,978,010 Oct 5, 07 Sep 10, 09 498 5.07 4.66 Bond

PROVINCE OF NEW BRUNSWICK 200233L2 100,000 99,810 Sep 18, 03 Dec 2, 08 216 4.29 4.25 Bond 200233L3 800,000 798,480 Sep 18, 03 Dec 2, 08 216 4.29 4.25 Bond 500103 5,000,000 5,000,000 Apr 29, 05 May 1, 09 366 3.26 0.00 Floating 400104L1 50,000 49,622 Jun 10, 04 Dec 2, 09 581 4.66 4.50 Bond

FIN-92 GREATER VANCOUVER DISTRICTS Schedule 2 (cont'd) LONG TERM INVESTMENTS LISTING BY ORGANIZATION UNIT - April 30, 2008

CONTROL MATURITY COST PURCHASE MATURITY DAYS O/S YIELD COUPON DESCRIPTION NUMBER AMOUNT DATE DATE TO MATURITY % RATE

REGIONAL LONG TERM POOL INVESTMENTS (Continued)

PROVINCE OF ONTARIO 700253 5,000,000 5,070,300 Nov 2, 07 Dec 1, 08 215 4.34 5.70 Bond 500022 200,000 202,960 Jan 26, 05 May 19, 09 384 3.66 4.00 Bond 600286 5,000,000 4,950,650 Aug 22, 06 May 19, 10 749 4.28 4.00 Bond 600260 3,000,000 3,240,000 Aug 15, 06 Dec 2, 11 1,311 4.39 6.10 Bond 600252 750,000 749,288 Aug 10, 06 Dec 2, 11 1,311 4.42 4.40 Bond 600253 2,250,000 2,247,975 Aug 10, 06 Dec 2, 11 1,311 4.42 4.40 Bond

PROVINCE OF QUEBEC 600382 800,000 827,728 Dec 4, 06 Jun 1, 09 397 4.03 5.50 Bond 600131 150,000 154,680 May 3, 06 Jun 1, 09 397 4.41 5.50 Bond 600132 125,000 128,900 May 3, 06 Jun 1, 09 397 4.41 5.50 Bond 600133 75,000 77,340 May 3, 06 Jun 1, 09 397 4.41 5.50 Bond 600134 500,000 515,600 May 3, 06 Jun 1, 09 397 4.41 5.50 Bond 600135 75,000 77,340 May 3, 06 Jun 1, 09 397 4.41 5.50 Bond 600136 100,000 103,120 May 3, 06 Jun 1, 09 397 4.41 5.50 Bond 600138 200,000 206,240 May 3, 06 Jun 1, 09 397 4.41 5.50 Bond 600139 675,000 696,060 May 3, 06 Jun 1, 09 397 4.41 5.50 Bond 600140 1,000,000 1,031,200 May 3, 06 Jun 1, 09 397 4.41 5.50 Bond 700250 6,000,000 6,102,000 Nov 2, 07 Jun 1, 09 397 4.37 5.50 Bond

ROYAL BANK OF CANADA 600296 3,000,000 3,064,560 Aug 30, 06 Jul 6, 11 1,162 4.42 4.92 Bond 700242 1,000,000 974,100 Oct 19, 07 May 7, 12 1,468 5.17 4.53 Bond 800064 2,000,000 1,985,300 Apr 17, 08 Mar 11, 13 1,776 5.01 4.84 Bond 800065 3,000,000 2,962,500 Apr 18, 08 Mar 11, 13 1,776 5.13 4.84 Bond

TORONTO DOMINION BANK 700264 3,750,000 3,750,000 Nov 19, 07 Nov 19, 12 1,664 5.14 5.14 Bond 123,150,000 127,473,795

AVERAGE TERM 2.44 year(s) AVERAGE YIELD 4.46 %

FIN-93 GREATER VANCOUVER DISTRICTS Schedule 3

LONG TERM INVESTMENTS LISTING BY ORGANIZATION UNIT - April 30, 2008

CONTROL MAT. COST PURCHASE MATURITY DAYS TO YIELD CPN DESC. NUMBER AMT DATE DATE MATURITY % RATE

CULTURAL GRANTS (OTHER AGEN.) (5150)

BANK OF MONTREAL 800075 100,000 100,750 Apr 28, 08 Sep 4, 12 1,588 4.84 5.04 Bond

BANK OF NOVA SCOTIA 300353L 100,000 99,900 Dec 16, 03 Aug 22, 08 114 4.32 4.30 Bond

GOVERNMENT OF CANADA 500004 100,000 104,795 Jan 13, 05 Jun 1, 14 2,223 4.40 5.00 Bond

MUNICIPAL FINANCE AUTHORITY OF BC 300242L1 25,000 24,940 Oct 3, 03 Oct 3, 09 521 4.29 4.25 Bond 300243L1 25,000 24,933 Oct 3, 03 Oct 3, 10 886 4.54 4.50 Bond 50,000 49,873

PROVINCE OF NEW BRUNSWICK 200233L1 100,000 99,810 Sep 18, 03 Dec 2, 08 216 4.29 4.25 Bond 400104L2 150,000 148,868 Jun 10, 04 Dec 2, 09 581 4.66 4.50 Bond 400111L 200,000 196,840 Jun 17, 04 Dec 2, 09 581 4.82 4.50 Bond 450,000 445,518

PROVINCE OF ONTARIO 400069L 100,000 99,380 Apr 20, 04 May 19, 09 384 4.12 4.00 Bond 500021 100,000 101,480 Jan 26, 05 May 19, 09 384 3.63 4.00 Bond 500134L 500,000 507,500 Jun 2, 05 Mar 8, 15 2,503 4.31 4.50 Bond 700,000 708,360

PROVINCE OF QUEBEC 600137 100,000 103,120 May 3, 06 Jun 1, 09 397 4.41 5.50 Bond 600381 200,000 206,932 Dec 4, 06 Jun 1, 09 397 4.03 5.50 Bond 300,000 310,052 TORONTO DOMINION BANK 800032 720,000 723,550 Feb 13, 08 Feb 13, 13 1,750 4.73 4.85 Bond 2,520,000 2,542,797

AVERAGE TERM 3.66 year(s) AVERAGE YIELD 4.51 %

FIN-94 5.7

Finance Committee Meeting Date: June 12, 2008

To: Finance Committee

From: Tracey Husoy, Purchasing & Risk Manager

Date: May 23, 2008

Subject: Tender/Contract Award Information – March and April 2008

Recommendation: That the Finance Committee receive the report titled “Tender/Contract Award Information – March and April 2008” dated May 23, 2008 for information.

1. PURPOSE

To provide the Finance Committee information with regard to contracts valued at or estimated at more than $250,000.00.

2. CONTEXT

Information pertaining to the award of contracts and standing offer agreements valued at more than $250,000.00 is reported to the Committee monthly.

The following contracts were awarded during the months of March and April 2008: (Details attached as APPENDIX A)

1. Golder Associates Ltd. $276,248.00 O & M Dept. (GVS&DD) Provision for Lions Gate Wastewater Treatment Plant Outfall 2008 Receiving Environmental Monitoring, Sediment Effects Survey.

2. B. Cusano Contracting Inc. $6,547,448.00 E & C Dept. (GVWD) Installation of Douglas Road Main No. 2 – Phase 2, Canada Way South Section.

3. Great West Equipment $437,213.00 E & C Dept. (GVS&DD) Supply and Delivery of One (1) New Wheel Loader – Cache Creek Landfill.

4. SYLVIS Environmental $3,138,187.00 P & P Dept. (over 3 years) (GVS&DD) Provision of Biosolids Management of Landfill Reclamation for a 3 year period.

5. Concord Excavating & Contracting Ltd. $287,595.00 P & P and O & M Dept. (GVS&DD) Supply of Earth Moving Equipment with Operators for Iona Island Wastewater Treatment Plant Sludge Lagoon Cleaning and Land Drying.

FIN-95 Finance Committee – June 12, 2008 Page 2 Tender/Contract Award Information – March and April 2008

6. Open Text Corporation $804,500.00 Corporate Services (over 5 years) Dept. – IT Division (GVRD) Provision of a Document and Records Management System for a 5 year period.

The following previously reported contracts were amended during the months of March and April 2008: (Details attached as APPENDIX C)

Original or Previously Value of Total Amended Amended Value Amendment Value of Contract Amendment Type

1. Hodgson King & $291,292.24 $34,544.23 $325,836.47 Additional Work Marble Ltd. To cover additional parts, equipment and labour required to facilitate the upgrades of security gates at the various sites for the Watershed Security Gates.

2. SSBV Consultants $22,532,494.11 $1,993,867.00 $24,526,361.11 Additional Work Inc. To cover changes to the scope of the detailed design work together with preparation of record drawings as contemplated in the original RFP for the Detailed Design of the Seymour-Capilano Filtration Plant.

3. Tri-Arrow Industrial $1,751,353.60 $444,675.00 $2,196,028.60 Contract Extension Recovery To cover a four months extension to the Hauling and Disposal of Non Recyclable Wastewater Treatment Residuals contract.

Insituform $295,542.30 $50,998.50 $346,540.80 Additional Work 4. Technologies Ltd. To cover additional rehabilitation work for the section of trunk sewer between MH79 and MH80.

Attachments:

APPENDIX A: Detailed information with regard to newly awarded contracts

APPENDIX B: Contracts amended to a value of more than $250,000 but not previously reported to the Finance Committee (Nothing to report)

APPENDIX C: Contracts amended in value in accordance with Contracting Procedure No. 9 – Contract Amendments and previously reported to the Finance Committee

APPENDIX D: List of tenders and proposals received but not awarded (presently being reviewed)

APPENDIX E: List of current open tender/proposal calls for contracts anticipated to be valued at greater than $250,000

FIN-96

APPENDIX A Page No. 1 AWARD OF CONTRACT

RFP NO. 08-027

1. A contract was awarded March 17, 2008 for the Operations and Maintenance Department (GVS&DD)

To: Golder Associates Ltd.

in the amount of $276,248.57 for Lions Gate Wastewater Treatment Plant Outfall 2008 Receiving Environmental Monitoring, Sediment Effects Survey

Original estimate was $252,000. Costs can be accommodated in the project budget.

2. Proposals were requested by GVRD and BC BID web sites, and private invitation on February 19, 2008

Closing Date: March 6, 2008

3. Proposals received:

Golder Associates Ltd. $276,248.57 Nautilus Environmental $285,724.95

4. Proposals reviewed by:

Contractual: Purchasing Division Staff

Technical: Operations and Maintenance Department Staff

5. Award made to the highest ranked lowest cost proponent.

FIN-97

APPENDIX A Page No. 2 AWARD OF CONTRACT

TENDER NO. 08-010

1. A contract was awarded March 18, 2008 for the Engineering and Construction Department (GVWD)

To: B. Cusano Contracting Inc.

in the amount of $6,547,448.25 for Installation of Douglas Road Main No. 2 – Phase 2, Canada Way South Section

Original estimate was $6.7 Million

2. On February 28, 2008 responses were received from five firms who, as a result of RFQ No. 07-085, had previously been short listed to bid on ITT No. 08-010

3. Tenders received:

B. Cusano Contracting Inc. $6,547,448.25 Pedre Contractors $6,834,110.64 Sandpiper Contracting $7,181,549.34 Westpro Constructors $8,174,533.50 Tyam Construction $8,422,517.09

4. Tenders reviewed by:

Contractual: Purchasing Division Staff

Technical: Engineering and Construction Department Staff

5. Award made to the lowest responsive bidder.

FIN-98

APPENDIX A Page No. 3 AWARD OF CONTRACT

TENDER NO. 08-026

1. A contract was awarded March 20, 2008 for the Engineering and Construction Department (GVS&DD)

To: Great West Equipment

in the amount of $437,213.28* for Supply and Delivery of One (1) New Wheel Loader – Cache Creek Landfill

Original estimate was $700,000.00

2. Tenders were invited by GVRD and BC BID web sites, and private invitation on February 14, 2008

Closing Date: February 28, 2008

3. Tenders received:

Great West Equipment $431,164.00 Douglas Lake Equipment $492,785.06 Coneco Equipment $527,363.20 Brandt Tractor $563,119.20

4. Tenders reviewed by:

Contractual: Purchasing Division Staff

Technical: Engineering and Construction Department Staff

5. Award made to the lowest responsive bidder based on equipment price and life cycle cost.

*Award includes Optional Item 1 – Command Control Steering.

FIN-99 APPENDIX A Page No. 4 AWARD OF CONTRACT

NOTICE OF INTENT NO. CG031708

1. A contract was awarded April 17, 2008 for the Policy and Planning Department (GVS&DD)

To: SYLVIS Environmental

in the estimated amount of $3,138,187.50, over a 3 year period, for Biosolids Management in Landfill Reclamation

This is a unit rate contract.

2. The Residuals Management Division requires professional services for the provision of biosolids management at Ecowaste Landfill for reclamation purposes for a three year period.

No qualified contractors, other than SYLVIS Environmental, were known to the Corporation therefore a Notice of Intent to Contract with SYLVIS was posted on GVRD and BC BID web sites on March 17, 2008.

3. Since no objections were received during the publication period, a contract was awarded to SYLVIS Environmental.

4. Proposal submitted by SYLVIS was reviewed by:

Contractual: Purchasing Division Staff

Technical: Policy and Planning Department Staff

FIN-100 APPENDIX A Page No. 5 AWARD OF CONTRACT

TENDER NO. 08-041

1. A contract was awarded April 23, 2008 for the Policy and Planning and Operations and Maintenance Department (GVS&DD)

To: Concord Excavating & Contracting Ltd.

in the amount of $287,595.00 for Supply of Earth Moving Equipment with Operators for Iona Island Wastewater Treatment Plant Sludge Lagoon Cleaning and Land Drying

Original estimate was $294,000.00

2. Tenders were invited by GVRD and BC BID web sites, and private invitation on March 17, 2008

Closing Date: April 10, 2008

3. Tenders received:

Concord Excavating & Contracting Ltd. $287,595.00 J. Dewitt Enterprises $338,520.00 G.R. Edwards Trucking $348,143.25 Delta Aggregates $352,349.45 Mission Contracting $356,432.37 Hexcel Construction $386,311.80 XS West Construction $393,051.12 Hazco Environmental $455,109.00 Blackburn Trucking $607,425.00

4. Tenders reviewed by:

Contractual: Purchasing Division Staff

Technical: Policy and Planning and Operations and Maintenance Department Staff

5. Award made to the lowest responsive bidder.

FIN-101 APPENDIX A Page No. 6 AWARD OF CONTRACT

RFP NO. 08-005

1. A contract was awarded April 25, 2008 for the Corporate Services Department - IT Division (GVRD)

To: Open Text Corporation

in the total anticipated amount of $804,500.00 for the Supply, Delivery, Implementation and Maintenance of a Document and Records Management System over a 5 year period

A contract for the supply, delivery, implementation, maintenance/support, training and consulting services was awarded in the amount of $585,646.94. In addition maintenance and support services will be added to the contract every year up to a 5 year period.

2. Proposals were requested by GVRD and BC BID web sites, and private invitation on January 10, 2008

Closing Date: January 29, 2008

3. Proposals received:

Anticipated Value over 5 Years

Open Text Corporation $804,500.00 Tower Software $983,960.00 RKO Business Solutions $998,775.00

4. Proposals reviewed by:

Contractual: Purchasing Division Staff

Technical: Corporate Services Department – IT Division Staff

5. Award made to the highest ranked lowest cost proponent.

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APPENDIX C Page No. 1

AMENDMENT TO A PREVIOUSLY REPORTED CONTRACT

TENDER NO. 07-048 PURCHASE ORDER NO. 098139

Supply and Installation of Watershed Security Gates for the Operations and Maintenance Department and the Corporate Services Department (GVWD and GVRD)

1. Name of Contractor: Hodgson King & Marble Ltd.

2. Date Contract Reported: July 2007

3. Original Reported Value of Contract: $291,292.24

4. Amendment Number: 01

5. Value of Amendment: $34,544.23

6. Amendment Type: Additional Work

7. Total Amended Value of Contract: $325,836.47

8. Budget Status:

The total approved budget for this project is $500,000. The current commitments and expenditures to date are $325,836.47 and the estimated cost at completion is $500,000.

9. Reason for Amendment to Contract:

The amendment covers additional parts, equipment and labour required to facilitate the upgrades of security gates at the various sites.

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APPENDIX C Page No. 2

AMENDMENT TO A PREVIOUSLY REPORTED CONTRACT

RFP NO. 02-108 STAGE II/CSA NO. 003 PURCHASE ORDER NO. 075499

Detailed Design of Seymour-Capilano Filtration Plant for the Engineering and Construction Department (GVWD)

1. Name of Contractor: SSBV Consultants Inc.

2. Date Contract Reported: February 2003

3. Original Reported Value of Contract: $9,050,532.00

4. Amendment Numbers: 14 and 15

5. Value of Amendments: 14 $1,011,823.00 15 $982,044.00

6. Amendment Type: Additional Work

7. Total Amended Value of Contract: $24,526,361.11 (includes value of previously reported Amendment Nos. 01 to 13 in the amount of $13,481,962.11)

8. Previous Amendments Explanation: (Reported to Finance Committee October 2003, February and May 2004, March 2005 and September 2006 and February and October 2007)

Amendment Nos. 01 through 13 covered change orders related to the provision of resident engineering/construction field services and post design engineering services as contemplated in the original RFP together with various engineering design changes and requirements added to the scope of the assignment and additional engineering field services to reflect the current construction program.

9. Budget Status:

The total estimated cost of the Seymour-Capilano Filtration Project at completion is $582.1 Million. This compares with the budget of $600 Million adopted by the Board in April 2003.

10. Reason for Amendments to Contract:

To cover changes to the scope of the detailed design work together with preparation of record drawings as contemplated in the original RFP.

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APPENDIX C Page No. 3

AMENDMENT TO A PREVIOUSLY REPORTED CONTRACT

RFP NO. 06-008 PURCHASE ORDER NO. 091448

Hauling and Disposal Services Non Recyclable Wastewater Treatment Residuals for the Operations and Maintenance Department (GVS&DD)

1. Name of Contractor: Tri-Arrow Industrial Recovery

2. Date Contract Reported: April 2006

3. Original Reported Value of Contract: $1,751,353.60 (Estimated amount for a 2 year term)

4. Amendment Number: 01

5. Value of Amendment: $444,675.00

6. Amendment Type: Contract Extension

7. Total Amended Value of Contract: $2,196,028.60 (Estimated amount)

8. Budget Status:

This is a multi year contract funded within the operating budget for this program.

9. Reason for Amendment to Contract:

The term of this contract was from March 1, 2006 to February 29, 2008. The amendment covers an extension of the contract to June 30, 2008.

Proposals have been evaluated and an award is anticipated in June 2008.

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APPENDIX C Page No. 4

AMENDMENT TO A PREVIOUSLY REPORTED CONTRACT

TENDER NO. 07-146 PURCHASE ORDER NO. 101758

Repair of Ocean Park Trunk Sewer 16th Avenue Section Between MH76 and MH83 for the Engineering and Construction Department (GVS&DD)

1. Name of Contractor: Insituform Technologies Ltd.

2. Date Contract Reported: February 2008

3. Original Reported Value of Contract: $295,542.30

4. Amendment Number: 01

5. Value of Amendment: $50,998.50

6. Amendment Type: Additional Work

7. Total Amended Value of Contract: $346,540.80

8. Budget Status:

The total approved budget for this project is $750,000. The current commitments and expenditures to date are $357,000 and the estimated cost at completion is $750,000.00

9. Reason for Amendment to Contract:

This amendment covers additional rehabilitation work for the section of trunk sewer between MH79 and MH80.

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APPENDIX D As at May 23, 2008

Tenders/Proposals Received But Not Awarded (Presently Being Reviewed)

Tender/RFP Date Closed Estimated Value

RFP No. 08-006 February 5, 2008 $300,000.00 Supply and Delivery of Two (2) Screenings Grinder, Separation, Washer and Dewatering/Compacting Systems – Northwest Langley Wastewater Treatment Plant (Awarded at less than $250,000.00)

RFQ NO. 08-017 February 26, 2008 $6 Million Request for Pre-Qualification Construction of 25th Avenue Main Replacement – Phase 1 and 2 (Pre-qualified 5 Construction Contractors)

RFP No. 08-011 March 25, 2008 $295,000.00 Professional Consulting Services for Corporate Employee and Family Assistance Program (EFAP)

RFP No. 08-024 April 10, 2008 $3.9 Million Iona Island Wastewater Treatment Plant (IIWWTP) Project Definition

ITT No. 08-002 May 1, 2008 $1.5 Million Supply and Delivery of Shop Fabricated Large Diameter Steel Mitres, Fittings and Chamber Piping – Boundary Road Main No. 5 – Phases 3 West and 3 East

RFP No. 08-031 May 6, 2008 $290,000.00 Consulting Engineering Services Related to the Seismic Assessment of the Haney Mains Nos. 2 and 3 – Coquitlam River Crossing

RFP No. 08-045 May 6, 2008 $7.5 Million Machine Shop and Mechanical Service (over 5 years)

ITT No. 08-036 May 15, 2008 $4.2 Million 25th Avenue Main Replacement Between Cambie Street and Carolina Street

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APPENDIX E As at May 23, 2008

Current Open Tender/Proposal Calls for Contracts Anticipated to be Valued at Greater than $250,000

Tender/RFP Closing Date Estimated Value

ITT No. 08-003 May 29, 2008 $8.1 Million Installation of Boundary Road Main No. 5 – Phase 3 – West

RFP No. 08-044 May 29, 2008 $960,000.00 Biosolids Field Management Services – Highland Valley (over 4 years) Copper Mine

RFP No. 08-035 June 5, 2008 $1 Million Enterprise Asset Management System

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