City of Coquitlam British Columbia 2009 Annual Report For the year ending December 31, 2009 Coquitlam Mayor and City Council BACK ROW Councillor Brent Asmundson Councillor Linda Reimer Councillor Doug Macdonnell Councillor Mae Reid Councillor Barrie Lynch FRONT ROW Councillor Lou Sekora Mayor Richard Stewart Councillor Selina Robinson Auditors: KPMG Chartered Accountants Bank: Scotia Bank City of Coquitlam British Columbia 2009 Annual Report For the year ending December 31, 2009 Prepared by City of Coquitlam Financial Services Table of Contents Statement of Cash Flows .................68 Introductory Section Coquitlam Mayor and City Council .............i Notes to Financial Statements ............69 Coquitlam 2021 - Our Vision for the Future . 2 Financial Statements of Coquitlam Optical Network Corporation (QNet) ..............79 Our Mission ................................. 2 Auditor’s Report ..........................80 Message from Mayor Richard Stewart ........ 3 Balance Sheet ............................81 2009 Civic Directory .......................... 4 Statement of Operations & Deficit ........82 Regional Map ................................ 4 Statement of Cash Flows .................83 City of Coquitlam Organizational Chart ....... 5 Notes to Financial Statements ............84 Coquitlam’s Strategic Plan .................... 6 Statistical Analysis Coquitlam’s Business Plan .................... 8 Revenues by Source 2005–2009 ............. 90 Progress Towards Goals ...................... 9 Property Tax Collection, Other Major Levies GFOA Awards ...............................12 and Collections 2005–2009 ...............90 Strategic Plan and Financial Planning/Goal Building Permits and Total Tax Collections . 91 Tracking Survey ...........................13 Total Value of Building Permits 2005–2009 . 91 Letter of Transmittal ........................15 Expenditures by Object 2005–2009 ..........92 Department Overviews Expenditures by Function 2005–2009. 92 City Manager’s Office .....................18 Summary of Statutory Reserve Funds Deputy City Manager’s Office .............19 2005–2009 ...............................93 Corporate Services ........................20 Assessed Values for Engineering and Public Works ............21 General Municipal Purposes 2005–2009 . 94 Fire/Rescue ...............................22 2009 Assessment and Taxation Leisure and Parks Services .................23 by Property Class .........................94 Planning and Development ..............24 RCMP – Coquitlam Detachment ..........25 Coquitlam Debt Per Capita 2005–2009 ......94 Strategic Initiatives .......................26 Gross and Net Long-Term Debt 2005–2009 . 95 Financial Section Capital Expenditures Per Capita 2005–2009. 95 Auditors’ Report to the Mayor and Council . 28 Capital Expenditures by Fund 2005–2009 .....96 Consolidated Statement of Capital Expenditures by Source 2005–2009 . 96 Financial Position .........................29 Accumulated Surplus 2005–2009. 97 Consolidated Statement of Operations ......30 Surplus for the Year 2005–2009 .............97 Consolidated Changes in Net Accumulated Surplus Per Financial Assets ..........................31 Capita 2005–2009 ........................98 Consolidated Statement of Cash Flows ......32 General Long-Term Debt Charges as Notes to Consolidated a % of Total General Expenditures Financial Statements .....................33 2005–2009 ...............................98 Auditors’ Report On Supplementary Legal Debt Limit 2005–2009 ................. 99 Information to the Mayor And Council ....55 Population Estimate 2005–2009 .............99 General Fund Net Book Value of Tangible Capital Assets Dec. Statement of Financial Position 31, 2009 ................................100 Schedule A ...............................56 Comparison of the Average 2009 Statement of Operations Schedule B ......57 Annual Tax Bill for All City Services Water Utility Fund to Other Standard Household Costs ......101 Statement of Financial Position 2009 Expenditures .........................102 Schedule C ...............................58 2009 Revenue Sources .....................102 Statement of Operations Schedule D .....59 Household Income of Private Households Sewer and Drainage Utility Fund in Coquitlam, 2000 & 2005 ..............103 Statement of Financial Position Coquitlam’s Population by Age as a Schedle E ................................60 Percentage of Population, 2001 & 2006 . 103 Statement of Operations Schedule F ......61 Coquitlam by Marital Status, 1996-2006 ....104 Reserve Fund Balances Schedule G ..........62 Top Ten Languages Spoken at Home in Financial Statements of Coquitlam ...............................104 Coquitlam Public Library Board ............63 Principal Employers in Coquitlam ...........105 Auditor’s Report ..........................64 Statement of Financial Position ...........65 Principal Corporate Taxpayers ..............106 Statement of Operations .................66 Permissive Tax Exemptions .................107 Statement of Changes in Net FInancial Assets .................67 City of Coquitlam Annual Report 2009 1 Coquitlam 2021 - Our Vision for the Future Our Mission To sustain Coquitlam’s high quality of life for current and future generations, we serve Coquitlam in 2021 will be a community of the public interest neighbourhoods within a vibrant urban city where people of all ages, abilities and cultures through leadership, choose to live, learn, work and play. innovation and a focus on community priorities Achieving this vision will result in a and strengths. community: That celebrates the unique history, heritage That provides citizens with opportunities and character of its neighbourhoods; and choices to participate fully in That values diversity and welcomes community life; everyone; Where people take personal responsibility Where people feel safe and secure; for the success of their community; That offers housing choices for all; Mindful of the legacy it leaves for future generations; and That is pedestrian-friendly and served by safe, convenient and seamless That is well-served by an inclusive, transportation systems that offer choices responsive and accountable government. for travel; With vibrant commercial areas connected to neighbourhoods by an urban greenway; Where businesses choose to locate, expand and prosper; With ample parkland and a healthy, functioning ecosystem; With quality urban spaces and public facilities; Where residents of all ages and abilities have access to sport, leisure, educational and cultural choices close to home; 2 Annual Report 2009 City of Coquitlam Message from Mayor Richard Stewart On behalf of City Council, I am pleased to present the 2009 Annual Report for the City of Coquitlam. This report contains important information related to City operations including a financial overview, highlights and accomplishments, and progress being made on Council’s strategic goals. Although 2009 was a challenging year from an economic perspective, the City of Coquitlam and its Council took proactive steps to respond to the global recession. Measures were put into place by all City departments early in the year such as postponing some capital projects, reducing discretionary spending and holding vacant positions open where possible. These steps helped us significantly and I thank our Council and staff for their leadership and hard work. Although at the beginning of 2009 the City was predicting a $4-5 million revenue shortfall in the general fund primarily due to record low interest rates and lower than expected development revenues, the year ended on a positive note. The combination of belt-tightening Although 2009 was a and a year-end increase in development activity translated into a $1.1 million general fund challenging year from an operating surplus. I’m very pleased that we were economic perspective, the successful at managing 2009’s revenue shortfall while at the same time maintaining the high level City of Coquitlam and its of service that Coquitlam residents have come to Council took proactive expect. steps to respond to the This past year our community began a big global recession. transition, particularly in the area of transportation development. The Province began construction of a new Port Mann Bridge and expanded Highway 1, while Coquitlam worked on its own projects including the King Edward Overpass and other local roadway improvements. The City was very successful in leveraging transportation budgets with senior government stimulus funding that will enable a number of significant projects to proceed this year such as King Edward and Schoolhouse street improvements and upgrading and the repaving of a large portion of the Lougheed and Barnet Highways. We also continue to make progress in other areas such as recreation facility development, neighbourhood planning, public safety improvements, and economic development initiatives. The upgrades to Poirier Library and the adjacent Poirier Sport and Leisure Complex along with increased funding for additional police officers are specific examples. In 2009 Coquitlam was a City of celebration having been appointed a Cultural Capital of Canada as well as a Community Celebration site for the 2010 Winter Olympics. Having been chosen a community worthy of these designations demonstrates our reputation – in location, diversity and the resourcefulness of our citizens. Although 2009 was a difficult year for many communities, the City of Coquitlam was fortunate to have managed well during this