2017 Niagara Region Annual Financial Report
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2017 NIAGARA REGION ANNUAL FINANCIAL REPORT For the year ended December 31, 2017 | The Regional Municipality of Niagara Ontario, Canada | niagararegion.ca 2017 NIAGARA REGION CONTENTS INTRODUCTION 4 Vision, Mission, Values ANNUAL FINANCIAL REPORT 5 2014-2018 Regional Council 6 Corporate Leadership Team 7 Message from the Regional Chair & CAO For the year ended December 31, 2017 | The Regional Municipality of Niagara 8 Niagara Region | Where are we? Where are we going? Ontario, Canada | niagararegion.ca 10 Regional Programs and Services 14 2015-2018 Regional Council Priorities Prepared by Enterprise Resource Management Services Department 16 2017 Achievements and the office of the Chief Administrative Officer 19 Supporting our Community FINANCIAL STATEMENTS 21 Report from the Treasurer CONSOLIDATED FINANCIAL STATEMENTS 34 Management’s Responsibility for the Financial Statements 35 Independent Auditor’s Report on Consolidated Financial Statements 37 Consolidated Statement of Financial Position 38 Consolidated Statement of Operations 39 Consolidated Statement of Change in Net Debt 40 Consolidated Statement of Cash Flows 41 Notes to Consolidated Financial Statements SINKING FUND FINANCIAL STATEMENTS 66 Independent Auditor’s Report on Sinking Fund Financial Statements 68 Sinking Fund Statement of Financial Position 69 Sinking Fund Statement of Financial Activities and Fund Balance 70 Sinking Fund Statement of Cash Flows 71 Notes to Sinking Fund Financial Statements TRUST FUNDS FINANCIAL STATEMENTS 72 Independent Auditor’s Report on Trust Fund Financial Statements 74 Trust Fund Statement of Financial Position 75 Trust Fund Statement of Operations and Change in Net Financial Assets 76 Trust Fund Statement of Cash Flows 77 Notes to Trust Fund Financial Statements STATISTICAL 79 Five Year Statistical Review 2017 NIAGARA REGION ANNUAL REPORT | 3 VISION 2014 - 2018 REGIONAL COUNCIL Niagara Region is a unified community of communities with diverse Niagara Region is one of six Regional governments in Ontario. opportunities and qualities. Together we strive for a better tomorrow. As an upper-tier municipality, the Region provides programs and services for the residents and businesses in 12 cities and towns. Council is comprised of a Regional Chair, 12 elected MISSION mayors and 18 elected officials from Niagara’s local area municipalities. Regional Council Niagara Region will serve its residents, businesses and visitors through also functions as Niagara’s Board of Health. leadership, partnership and the provision of effective and community- Alan Caslin focused services. REGIONAL CHAIR VALUES Our corporate values guide our decision-making and actions every day. We treat everyone equitably with compassion, sensitivity and respect. Sandy Annuziata Dave Augustyn David Barrick Brian Baty Bob Bentley Gary Burroughs FORT ERIE PELHAM PORT COLBORNE PELHAM GRIMSBY NIAGARA-ON-THE-LAKE We serve Niagara with pride, care and excellence. We value honesty, integrity and trust. Frank Campion Henry D’Angela Patrick Darte Jim Diodati Sandra Easton Kelly Edgar WELLAND THOROLD NIAGARA-ON-THE-LAKE NIAGARA FALLS LINCOLN ST. CATHARINES We believe in social, environmental and economic choices that support our diverse community. We foster collaboration and value partnerships. Bob Gale Paul Grenier Brian Heit Bill Hodgson April Jeffs Douglas Joyner NIAGARA FALLS WELLAND ST. CATHARINES LINCOLN WAINFLEET WEST LINCOLN Ted Luciani Debbie MacGregor John Maloney George Marshall Bart Maves Andrew Petrowski THOROLD ST. CATHARINES PORT COLBORNE WELLAND NIAGARA FALLS ST. CATHARINES Tony Quirk Wayne Redekop Tim Rigby Walter Sendzik Bruce Timms Selina Volpatti GRIMSBY FORT ERIE ST. CATHARINES ST. CATHARINES ST. CATHARINES NIAGARA FALLS 2017 NIAGARA REGION ANNUAL REPORT | 4 2017 NIAGARA REGION ANNUAL REPORT | 5 THE REGIONAL CHAIR THE CAO MESSAGE FROM Alan Caslin Carmelo D’Angelo ALAN CASLIN | NIAGARA REGIONAL CHAIR & REGIONAL CHAIR CHIEF ADMINISTRATIVE OFFICER The Niagara Regional Chair holds dual The Chief Administrative Officer is CARMEN D’ANGELO | CHIEF ADMINISTRATIVE OFFICER responsible for providing advice to Regional roles as both Head of Council and the 2017 was a year of significant progress that saw us Through our strategic partnerships, Niagara Region is Council and leadership to senior staff. The Chief Executive Officer of the Region. continue to accomplish many of the strategic priorities also increasing efforts to ensure that all residents have a CAO is responsible for empowering a team The Regional Chair provides leadership to that were set in 2015. These achievements were a place they can call home. A safe and stable home situation of more than 3,000 employees to ensure Council, represents the Region at official direct result of the commitment of Regional Council, our will ensure Niagara’s residents can take advantage of that Regional Council’s strategic priorities functions, and participates in activities dedicated and talented staff and our community partners all opportunities in our region. To accomplish this, we and policies are implemented efficiently that enhance the economic, social and to creating economic prosperity across Niagara. Over have developed strong partnerships with local developer and effectively. environmental well-being of the Niagara the past three years we have made millions of dollars PennTerra and community partner Bethlehem Housing to Region and its residents. in strategic investments to ensure we stay on track to construct a mixture of 127 affordable, below market and CORPORATE LEADERSHIP TEAM improve the quality of life for all our residents. By keeping market rent units in St. Catharines. In addition, Niagara taxes low, maintaining and creating jobs by supporting the Regional Council has earmarked development charge Carmelo D’Angelo Dr. M. Mustafa Hirji, Adrienne Jugley CHIEF MD, MPH, FRCPC COMMISSIONER business community, investing in consolidated transit and funding of $1.7 million for further affordable housing ADMINISTRATIVE OFFICER ACTING MEDICAL OF COMMUNITY funding essential services such as affordable housing and investment, along with approving Niagara Regional OFFICER, COMMISSIONER SERVICES community supports, we are taking the steps to ensure Housing new development projects, adding 97 new units OF PUBLIC HEALTH & EMERGENCY SERVICES Niagara is always moving forward. to the Niagara Regional Housing portfolio and 40 units in partnership with non-profit partners, ensuring residents of During this term, Regional Council and staff have worked Niagara region have the community support they need. Helen Chamberlain Ron Tripp Rino Mostacci hard to ensure taxes were kept low, averaging an annual ACTING COMMISSIONER OF COMMISSIONER OF increase of 1.47 per cent. Despite this modest increase, We also recognize the valuable and essential services COMMISSIONER OF PUBLIC WORKS PLANNING AND we’ve remained committed to putting residents first through delivered daily by Niagara Region staff and partner agencies. ENTERPRISE RESOURCE DEVELOPMENT MANAGEMENT SERVICES, SERVICES the budgeting process. Every day we diligently work to make Residents and businesses depend on the Region in many TREASURER sure every dollar spent we spend will result in a high return ways – from roads to drinking water, waste collection to on investment for our residents, businesses and visitors. quality child care services, food safety to supports for seniors – and many other programs and services. We A strong economy ensures we can enjoy a high quality of believe our people are our greatest asset and we would not OFFICE OF THE CHIEF REGIONAL COUNCIL COMMITTEES life, affordable public services, low unemployment and be successful without them. ADMINISTRATIVE OFFICER • Public Health and Social Services Committee an fulfilling retirement. To this end, we are aggressively pursuing businesses to locate and expand in Niagara. The accomplishments achieved through the cooperation • Enterprise Resource Management Services • Corporate Services Committee of Niagara Regional staff and Council working together • Office of the General Manager • Planning and Economic Development Committee 2017 saw an increase in net new jobs resulting in a reinforces that Niagara is on the right track. In short, we declining unemployment rate. In fact January 2018 recorded • Planning and Development Services • Public Works Committee are focused on building and supporting vibrant and healthy the lowest unemployment rate since April 2000, dropping communities that offer people a high quality of life. • Public Health and Emergency Services • Budget Review Committee of the Whole below the majority of comparable metropolitan areas • Community Services including Hamilton, Waterloo, Toronto, Guelph, London, We are very proud to be part of the team at Niagara Region Barrie, and Kingston. It’s clear that Niagara Region is and will continue to deliver for our residents. We look • Public Works OTHER SUPPORTING SERVICES • Auditors delivering what residents want most: jobs and growth. forward to continue collaborating with local municipalities, » Deloitte LLP businesses and entrepreneurs, educators and our BOARDS AND AGENCIES Another important part of our economic story includes the community partners as we work to pursue our goal of • Provincial Offences Joint Board • Fiscal Agents concrete steps Niagara Region has taken towards creating economic prosperity for the benefit of all our citizens. » Ken Beaman, Chair » National Bank Financial Inc., RBC Capital Markets, a consolidated transit system. In June