CITY O F VANCO UVER INCLUD ING BO ARD S AN D CO M M ISSION S BRITISH CO LUM BIA STATEM ENT O F FINANCIAL INFO RM ATION D ECEM BER 31, 2008 • FINAN CIAL STATEM EN TS • SCHEDULE OF DEBTS • SCHEDULE OF GUARANTEE AND INDEM NITY AGREEM ENTS • SCHEDULE OF REM UNERATION AND EXPENSES • SCH ED ULE O F SUPPLIERS FO R G O O D S AN D SERVICES Publ shed pursuant to the F nanc al Inform at on Re.ulat ons under the F nanc al Informat on Act of Br t sh Colum b a CITY O F VAN CO UVER STATEM EN T O F FINAN CIAL INFO RM ATION APPRO VAL The undersigned, as authorized by the Financial Inform ation Regulation, Schedule 1, subsection 9(2), a roves all the statem ents and schedules included in this Statem ent of Financial Inform ation, roduced under the Financial Information Act. Esther Lee Director of Financial Services De uty Director of Finance A ril 23, 2009 CITY O F VAN CO UVER D IRECTO R O F FINAN CE REPO RT The Financial Statem ents contained in this Statem ent of Financial Inform ation under the Financial Inform ation Act have been re ared by m anagem ent in accordance w ith generally acce ted accounting rinci les, and the integrity and objectivity of these statem ents are m anagem ent’s res onsibility. ,anagem ent is also res onsible for all the statem ents and schedules, and for ensuring that this inform ation is consistent, w here a ro riate, w ith the inform ation contained in the financial statem ents. ,anagem ent is res onsible for im lem enting and m aintaining a system of internal controls to rovide reasonable assurance that reliable financial inform ation is roduced. The City’s Internal Audit Division has the res onsibility for assessing the internal control environm ent of the City and m a.ing observations and recom m endations on the effectiveness of m anagem ent system s and rocesses. The Internal Audit Division re orts to the Internal Audit ,anagem ent Com m ittee. The E/ternal Auditors, 01,2 LL1, conduct an inde endent e/am ination, in accordance w ith generally acce ted auditing standards, and e/ ress their o inion on the financial statem ents. Their e/am ination does not relate to the other schedules and statem ents re3uired by the Act. Their e/am ination includes a review and evaluation of the City’s system of internal control and a ro riate tests and rocedures to rovide reasonable assurance that the financial statem ents are resented fairly. The E/ternal Auditors resent their audit findings to the City’s City Services 4 5udget Standing Com m ittee. On behalf of the City of 7ancouver, Esther Lee Director of Financial Services De uty Director of Finance A ril 23, 2009 TABLE O F CO N TEN TS CO NSO LIDATED FINANCIAL STATEM ENTS .................................................................TA5 1 SCHEDULES OF DEBTS AND GUARANTEE AND INDEM NITY AGREEM ENTS 2eneral ................................................................................................................... 1 Local Im rovem ent ................................................................................................ 3 Schedule of 2uarantee and Indem nity Agreem ents ............................................. 8 SCHEDULE OF REM UNERATION AND EXPENSES ,ayor and Councillors ........................................................................................... 9 7ancouver 5oard of 1ar.s and Recreation Com m issioners .................................. 7 7ancouver 1olice 5oard ,em bers ........................................................................ 8 Em loyees ............................................................................................................. 9 Severance Agreem ents .......................................................................................... 22 PAYM ENTS TO SUPPLIERS OF GOO DS AND SERVICES 2eneral ................................................................................................................... 28 7ancouver 1ublic Library 5oard - 5oo.s and ,aterials ........................................ 35 2 rants Cultural ........................................................................................................... 38 Com m unity Services ...................................................................................... 80 Childcare ........................................................................................................ 82 Other ............................................................................................................... 83 CITY OF VANCOUVER BRITISH CO LUM BIA ANNUAL FINANCIAL RE1ORT 2008 TABLE OF CONTENTS ,ayor and Council ...................................................................................................................... 1 Officials ....................................................................................................................................... 2 5oards ......................................................................................................................................... 3 Financial Statem ents Re ort of the Director of Finance ....................................................................................... 4 Auditors’ Re ort.................................................................................................................. 9 Consolidated Statem ent of Financial 1osition .................................................................... 10 Consolidated Statem ent of Financial Activities ................................................................... 11 Consolidated Statem ent of Cash Flow s ............................................................................. 12 Notes to Consolidated Financial Statem ents ..................................................................... 13 Auditors’ Re ort ................................................................................................................. 24 Schedules of Financial Activities Revenue Fund ........................................................................................................... 25 Ca ital Fund ............................................................................................................... 26 Ca ital Financing Fund ............................................................................................. 27 Sin.ing Fund ............................................................................................................. 28 1ro erty Endowm ent Fund ........................................................................................ 29 Utilities ....................................................................................................................... 30 M AYOR AND COUNCIL AN N UAL FINAN CIAL REPO RT 2008 1 O FFICIALS Corporate M ana.em ent Team City ,anager 1. 5allem , ,D, FRC1 De uty City ,anager J. T. Ridge, ,.A., ,.1.A. Chief Constable J. Chu, 5.5.A, ,.5.A. Director of Legal Services F. Connell, LL.5. City Librarian 1. A hitney, ,.L.S. 2 eneral ,anager of 5usiness 1lanning and Services 0.5. 5ayne, 5.A., ,.Sc. (5us.) 2 eneral ,anager of Com m unity Services D. ,cLellan, 5.E.S, ,.C.I.1. 2 eneral ,anager of Engineering Services T. Tim m , 1. Eng. 2 eneral ,anager of Fire and Rescue Services R. Boldgate 2 eneral ,anager of Bum an Resource Services 0. Ram say, AScT. 2 eneral ,anager of 1ar.s and Recreation S.J. ,undic., 5.R.I.S., R.D.,.R. 2 eneral ,anager of Olym ic and 1aralym ic O erations D. Rudberg, 1.Eng. F nanc al Serv ces Acting 2 eneral ,anager of Financial Services J. T. Ridge, ,.A., ,.1.A. Director of Financial Services E. Lee, 5. Com m ., C.A. Associate Director of Financial Services 2. 0rueger, 5. Com m ., C.A. Director of 5udget Services A. 0lein, 5.Com m ., ,.5.A. Act n. C t0 Cler1 ,. Coulson City Auditor 01,2 LL1, Chartered Accountants 5an.er 5an. of ,ontreal Agents - A orldw ide R5C Dom inion Securities Inc. CI5C A orld ,ar.ets Inc. Fiscal Agent for Certain Functions Relating to Eurobond Issues Royal 5an. of Canada, London Relating to 5oo. Entry Only Issues Canadian De ository for Securities Ltd. AN N UAL FINAN CIAL REPO RT 2008 2 BO ARD S Vancouver Publ c L brar0 Board City Librarian C 1. A hitney J. Andersen C Chair L. 5ohach C 7ice-Chair E. 0azem i C 7ice-Chair ,. Lom bardi - School 5oard Re resentative S. ,ac.innon - 1ar.s and Recreation Re resentative Councillor T. Stevenson C City Council Re resentative S. Daub L. ,athison C. 2rauer D. ,illward B. Barrison T. Tao L. 0uehn Vancouver Pol ce Board Chief Constable C J.Chu ,ayor 2 . Robertson C Chair T. La LibertD D. 1ar.er J. ,cLean S. A illiam son-Barm s 1. ,arfleet 2. Aong Vancouver C v c Theatres Board Director C R. Ac.erm an Com m issioner Em eritus C N. Eoung 5. ,cLean C Chair ,. Noon C 7ice-Chair Councillor T. Stevenson C Council Liaison C. 2 reen J. 0ennedy R. Baynes I. Aoo 0. Beller Board of Par1s and Recreat on 2 eneral ,anager C S. ,undic. R. Bundal C Chair L. A oodcoc. C 7ice-Chair C. 5arnes S. ,ac.innon S. 5lyth I. Robertson A. Jas er Board of School Trustees for School D str ct N o. 33 4Vancouver5 C. 0elly - Su erintendent of Schools 5. Ng - Secretary-Treasurer 1.5acchus C Chair J. 5ouey C 7ice-Chair A. 5la.ey S. 2regson 0. Clement ,. Lombardi 0. Deni.e A. Aong C. 2ibson AN N UAL FINAN CIAL REPO RT 2008 3 REPO RT O F THE DIRECTO R O F FINANCE C t0 H all, Vancouver Apr l 8, 2003 M a0or G . Robertson and M em bers of Counc l It is m y leasure to subm it the Consolidated Financial Statem ents for the City of 7ancouver for the year ended Decem ber 31, 2008. These financial statem ents include the financial osition and results of o erations of the City