2014 Financial Report | Regional Municipality of Wood Buffalo

Transcription

2014
REGIONAL MUNICIPALITY
OF WOOD BUFFALO
Financial Report for the year
ended December 31, 2014
www.rmwb.ca
ALBERTA, CANADA
Regional Municipality of Wood Buffalo, Alberta, Canada
2014 Financial Report for the year ended December 31, 2014
This Financial Report has been prepared and compiled by
the Regional Municipality of Wood Buffalo Financial Services
Department in cooperation with all municipal departments
and controlled entities.
Information on the Regional Municipality of Wood Buffalo
is available via the internet at www.rmwb.ca
TABLE OF CONTENTS
INTRODUCTORY SECTION
Message from the Mayor.......................................................................................................................................4
Message from the Audit and Budget Committee Chair....................................................................................5
Message from the Chief Administrative Officer..................................................................................................6
Our Vision, Mission, Success Factors and Values................................................................................................7
Governance Structure ..........................................................................................................................................8
Municipal Profile.....................................................................................................................................................9
Regional Municipality of Wood Buffalo Community Profiles..................................................................... 10-11
Organization Structure.........................................................................................................................................12
Year at a Glance.............................................................................................................................................. 13-14
Upcoming Events.................................................................................................................................................14
FINANCIAL SECTION
Chief Financial Officer’s Report
Chief Financial Officer’s Message ......................................................................................................................19
Canadian Award for Financial Reporting...........................................................................................................20
Management Reporting and Control.................................................................................................................21
Financial Highlights........................................................................................................................................ 23-28
Our Future............................................................................................................................................................29
Audited Financial Statements
Management’s Responsibility for the Consolidated Financial Statements ....................................................31
Independent Auditor’s Report............................................................................................................................32
Consolidated Statement of Financial Position..................................................................................................33
Consolidated Statement of Operations and Accumulated Surplus ...............................................................34
Consolidated Statement of Change in Net Financial Assets (Debt)...............................................................35
Consolidated Statement of Cash Flows.............................................................................................................36
Notes to the Consolidated Financial Statements....................................................................................... 37-66
STATISTICAL SECTION (UNAUDITED)
General Statistical Information............................................................................................................................70
Statement of Financial Position..........................................................................................................................71
Revenue by Object, Expense by Function and Annual Surplus ................................................................ 72-73
Expenses by Object ............................................................................................................................................74
Tax Collection ......................................................................................................................................................74
Taxation, Assessment and Requisitions .............................................................................................................75
Total Long Term Debt and Long Term Debt Servicing Limits..........................................................................76
Acquisitions of Tangible Capital Assets.............................................................................................................77
Government Transfers..........................................................................................................................................77
Reserves and Accumulated Surplus...................................................................................................................78
1
INTRODUCTION
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5
6
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9
10
12
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Message from the Mayor
Message from the Audit
and Budget Committee Chair
Message from the Chief Administrative Officer
Our Vision, Mission, Success Factors and Values
Governance Structure
Municipal Profile
Regional Municipality of Wood Buffalo
Community Profiles
Organization Structure
Year at a Glance
Upcoming Events
MESSAGE FROM THE MAYOR
Welcome to the annual Financial Report of the Regional Municipality of Wood Buffalo. In the pages
ahead, I hope that you will find value in the detailed information about the many services that the
Municipality provides. The report offers a clear and transparent overview of the projects that were
undertaken in 2014.
Indeed, this was an important year in the region and one in which we set significant groundwork for
future growth and success. Among the highlights were the historic land exchange agreement with
the Province of Alberta which saw the Municipality acquire land in Saline Creek and Parsons Creek,
and the Accountability, Integrity and Transparency Audit which Council initiated in early 2014 to help
position the Municipality for further prosperity. The findings of this audit were presented to Council
in September and our response is ongoing.
Around the region there was tremendous excitement surrounding the opening of the new Fort
McMurray International Airport in 2014 and rightfully so; the airport is symbol of the exponential
growth and progress of our region. As Canada’s fifteenth busiest airport, it too experienced
significant growth and posted a record number of passengers.
The municipality also celebrated the continued success of MacDonald Island Park and the phased
arrival of the new Jubilee Plaza. Located in the heart of downtown Fort McMurray, this will be a
place for residents to gather socially and to explore the dynamic history and culture of the Wood
Buffalo region.
The many important strides made in 2014 have positioned us well to weather the challenges of the
sudden low-cost oil environment. While our community is accustomed to the cyclical nature of the
industry and is deeply resilient, we acknowledge that uncertainty is high for many at the present time.
We are acutely aware of the current economic climate however and remain optimistic that we will
see a robust recovery as we did in the past.
As you’ll see, the 2014 Annual Report demonstrates our steadfast commitment to transparency and
accountability and providing the best value for great services and a quality of life that is second to
none! I hope that you will find the information contained here to be informative and, above all, that
you enjoy learning about the Regional Municipality of Wood Buffalo.
Melissa Blake
Mayor
4
MESSAGE FROM THE AUDIT
AND BUDGET COMMITTEE CHAIR
On behalf of my Council colleagues on the Audit and Budget Committee, I am pleased to have
this opportunity to highlight the Regional Municipality of Wood Buffalo’s success in the 2014
Financial Report.
Our committee is tasked with reviewing and making recommendations to Council on matters relating
to budget, finance and taxation. As chair, I believe our budget process should be open and
transparent and one that affirms our commitment to deliver the best services to all residents in a
cost-effective way.
Our Council broke new ground in 2014 by initiating a vigorous Accountability, Integrity and
Transparency Audit. Given the context of the time, there was a need to strengthen public perception
and awareness about the role and actions of Council as a responsible government. The audit proved
to be an invaluable opportunity to further demonstrate Council’s commitment to accountability,
integrity, and transparency.
At the end of the day, we have an important role to play in ensuring the Municipality’s role as a
steward of sustainable practice. The audit findings helped us make sure that we not only have
accountability, but that we have the structures and processes to match. We completed this process
stronger than ever, with a renewed focus on improving our processes and procedures, and wellpositioned to capitalize on the strengths of our Municipality.
As you review the 2014 Financial Report, I hope that you develop a clearer perspective on the
Regional Municipality Wood Buffalo, as well as a greater understanding of our community and why
we are so proud to call this our home.
Councillor Sheldon Germain
Chair of the Audit and Budget Committee
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MESSAGE FROM THE
CHIEF ADMINISTRATIVE OFFICER
I am pleased to share my thoughts on our year as an organization in the Regional Municipality
of Wood Buffalo’s 2014 Financial Report. It was a year of success in which we faced challenges,
embraced change and welcomed opportunity to transition.
As Chief Administrative Officer, I am responsible for the administration of the Municipality and
provide leadership on the development, implementation, and administration of policies and
programs created and approved by Council. Perhaps one of the most ambitious projects initiated by
Council in 2014 was the Accountability, Integrity and Transparency Audit which began early in the
year. The audit offered a ‘health-check’ of the Municipality’s existing practices and acknowledged a
number of key challenges with which we were grappling, primarily the rapid rate of our region,
complex issues, staff shortages and a high turnover rate.
The results of the audit helped us identify necessary strategic changes and to prioritize our actions
moving forward. Through this process we discovered opportunities that have allowed us to improve
value to residents by supporting and developing a highly skilled and innovative workforce, articulating
roles and responsibilities throughout Administration, and developing clearly documented policies
and procedures that are consistently applied throughout the Municipality.
While the audit gave us a fresh perspective, decisive action allowed us to capitalize on these and
other opportunities. Key among them was the signing of the land exchange agreement by the
Municipality and the Province of Alberta. This historic agreement provided an arrangement to allow
for the sale of developable property whereby the proceeds of the sale could be used to fund
important land development and transportation infrastructure within Fort McMurray.
As you read through the 2014 Financial Report, I think you will find that the year brought a renewed
and reinvigorated commitment to enhancing practices and policies at the Municipality. As a result of
the gains that were made in 2014, we are positioned to enjoy even greater success in the years ahead.
Marcel Ulliac
Chief Administrative Officer (CAO),
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OUR VISION
A balanced future with opportunity for all
OUR MISSION
To continually improve the quality of life within
our communities by providing valued services
OUR SUCCESS FACTORS
Engage our citizens
Champion innovation
Collaborate effectively
Empower our people
Deliver best value
OUR VALUES
Our people
Sharing information
Working together
Accountability
Integrity
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GOVERNANCE STRUCTURE
Northwest Territories
Fort Fitzgerald
Wood Buffalo
National Park
Mayor
Melissa Blake
WARD 1
Sheldon
Germain
WARD 1
Road
Lance E.
Bussieres
WARD 2
Phil Meagher
WARD 2
Colleen
Tatum
WARD 3
Fort McKay
WARD 4
63
Gregoire Lake
Estates
Julia
Cardinal
John H.
Chadi
Allan Vinni
WARD 3
Saprae Creek
Estates
Anzac
Jane Stroud
The Regional Municipality of Wood Buffalo is governed
by a Council of eleven members, who have been elected to
represent the four wards covering the region. Ward 1 consists of
the Urban Service Area of Fort McMurray, and is represented by
six Councillors, all elected at large. Ward 2 is the largest ward
in terms of land area and has two elected representatives.
Wards 3 and 4 are each represented by one councillor.
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Saskatchewan
Keith
McGrath
Ath
aba
sca
R.
W
in
te
r
Tyran Ault
Fort Chipewyan
WARD 4
63
Janvier
0
25
Kilometers
50
Conklin
881
REGIONAL MUNICIPALITY OF
WOOD BUFFALO PROFILE
REGIONAL COMMUNITIES:
1. FORT FITZGERALD
The Regional Municipality of Wood Buffalo is the second
largest municipality in North America, spanning 68,454
square kilometers and stretching from northcentral Alberta
to the boundaries of Saskatchewan and the Northwest
Territories. Located approximately 450 kilometers north of
the province’s capital, Edmonton, the municipality is
characterized by vast growth and success - flowing not only
from our natural resources and industry, but from the
pioneering spirit and ingenuity of our residents.
1
2. FORT CHIPEWAN
3. FORT MCKAY
4. FORT MCMURRAY
5. DRAPER
2
6. SAPRAE CREEK ESTATES
7. GREGOIRE LAKE ESTATES
Shaped by our people and environment, the Municipality is
proof positive that a sustainable, healthy community can
grow in step with a resourse-driven economy. The residents
of today’s Wood Buffalo enjoy world-class facilities and
entertainment, improved infrastructure and transportation,
and a culturally rich community. With an immigrant
population that is double that of the average Canadian
municipality and above average household incomes, Wood
Buffalo attracts an international, young and highly skilled
population.
8. ANZAC
9. JANVIER
10. CONKLIN
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4 5
6
7 8
9
63
10
881
The municipality is comprised of nine rural communities and
the urban centre of Fort McMurray. The communities within
the Regional Municipality of Wood Buffalo are, starting in
the south, Conklin, Janvier, Anzac, Gregoire Lake Estates,
Saprae Creek, Draper, Fort McMurray, Fort MacKay, Fort
Chipewan and Fort Fitzgerald. Wood Buffalo strikes a
balance between its greatest strengths: an urban lifestyle
with modern amenities, as well as traditional ways of life,
rural warmth and rich cultural heritage.
CANADA
ACCESS:
International Airport
Highway 63
AB
Highway 881
Edmonton
Calgary
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REGIONAL MUNICIPALITY OF WOOD
BUFFALO COMMUNITY PROFILES
1. FORT FITZGERALD
4. FORT MCMURRAY
Located on the Alberta/Northwest Territories border,
Fort Fitzgerald is the most northern hamlet in the
Municipality. The nearest urban center is Fort Smith,
Northwest Territories, which is 25 kilometers to the north.
Fort Fitzgerald can be accessed from the south from Fort
Chipewyan Winter Road and for the northwest on Highway 5.
Fort Fitzgerald was originally names Smith’s Landing until
1915 when it was renamed to honour the late Inspector
Francis Joseph Fitzgerald of the North West Mounted Police.
Nested in the forest valley where the Athabasca and
Clearwater rivers meet is the Regional Municipality of Wood
Buffalo’s urban center, the community of Fort McMurray.
Originally established as a Hudson’s Bay Company trading
post in 1870, today Fort McMurray draws attention from
around the work as the residential and commercial focal
point of Canada’s oil sands industry drawing residents from
all regions of Canada and around the world.
5. DRAPER
2. FORT CHIPEWYAN
Nestled on the northwest shore of Lake Athabasca, Fort
Chipewyan is one of the northern communities in the
Municipality. Isolated by nature, Fort Chipewyan can only
be access by plane or boat in the summer and by a winter
road in the winter. Established as a trading post in 1788
by the Northwest Trading Company, Fort Chipewyan is
the oldest settlement in all of Alberta where trapping
and fishing activities are still enjoyed by the residents.
Fort Chipewyan is the second largest community in the
Municipality and many of the residents are Mikisew Cree
First Nation, Athabasca Chipewyan First Nation and Metis.
3. FORT MACKAY
The hamlet of Fort MacKay is located 58 kilometers north of
Fort McMurray on the west bank of the Athabasca River and
is situated amongst many oil sands harvesting sites. Fort
MacKay can be accessed from Highway 63 or an airstrip
located in Mildred Lake, 3 kilometers south. Fort MacKay
was established in 1820 by the Hudson Bay Company as a
trading post but was not known as Fort MacKay until it was
named after Dr. Williams Morrison MacKay in 1917. Many of
the local residents are active members of the Fort MacKay
First Nation which is part of the Athabasca Tribal Council and
while the oil sands industry is the primary employer, forestry,
hunting and trapping remain part of the local economy.
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Situated on the flood plains for the Clearwater River, Draper
is only 12 kilometers south of Fort McMurray and can be
accessed through Waterways, a suburban area of Fort
McMurray. Draper was established in 1922 by Thomas
Draper who opened a quarry and the McMurray Asphaltum
and Oil Company business. Today the community is
primarily made up of acreages built along the banks of
the Clearwater River.
6. SAPRAE CREEK ESTATES
The hamlet of Saprae Creek is located 25 kilometers south
of Fort McMurray and is the third largest community in the
Municipality. It is situated on the crest of the Clearwater
River Valley and can be access from Alberta Highway 69.
Established in 1987, Saprae Creek is a forested acreage
hamlet that serves as a bedroom community to Fort
McMurray. Saprae Creek is home to Vista Ridge, a popular
winter recreation facility that offers skiing, snowboarding
and downhill tubing.
7. GREGOIRE LAKE ESTATES
Located on the shores of Willow Lake, the hamlet of
Gregoire Lake Estates is in close proximity to Anzac and
Gregoire Lake Provincial Park. It is located approximately 35
kilometers southeast of Fort McMurray and can be accessed
from Alberta Highway 881.
8. ANZAC
The hamlet of Anzac is on the western shore of Willow Lake
in the southern region of the Municipality and is in close
proximity to Gregoire Lake Provincial Park. Located
approximately 45 kilometers southeast of Fort McMurray,
Anzac can be accessed from Alberta Highways 63 and 881.
Established in 1917 as a stopping point on the Alberta Great
Waterways Railway Line, Anzac was named after the
Australia and New Zealand Army Corps that surveyed the
area during World War 1.
9. JANVIER
Situated on the shores of Bohn Lake, the hamlet of Janvier
is located in the southern region of the Municipality. It is
approximately 120 kilometers south of Fort McMurray and
can be accessed from Alberta Highway 881 as well as a small
airstrip located in the community. Janvier has a large Metis
population and is the home of the Chipewyan Prairie Dene
First Nations.
10. CONKLIN
The southernmost community in the Municipality is Conklin
with residents largely of Metis descent. It is a quiet rural
community located approximately 155 kilometers southeast
of Fort McMurray on scenic Christina Lake with access from
Alberta Highways 63 and 881.
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ORGANIZATION STRUCTURE
Citizens of RMWB
Municipal Auditor
Municipal Controlled Entities
Council
Communications and
Stakeholder Relations
Chief Administrative
Officer
Marcel Ulliac
Legal and
Legislative Services
Corporate Services
Division
Elsie Hutton
Community and
Protective Services
Division
Bob Couture
Infrastructure and
Engineering Division
Kevin Scoble
>Wood Buffalo Housing and Development Corporation;
>Regional Municipality of Wood Buffalo Library
>Regional Recreation Corporation of Wood Buffalo
Planning and Regional
Development Division
Brian Moore
Assessment
& Taxation
Aboriginal and
Rural Relations
Engineering
Economic
Development
Financial Services
Community Services
Environmental
Services
Land Administration
Human Resources
RCMP Support
& Bylaw Services
Public Works
Planning and
Development
Information and
Advisory Services
Regional
Emergency Services
Sustainable
Operations
Supply Chain
Management
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2015 Approved Budget and Financial Plan | Consolidation and Transformation of the Big Plans
YEAR AT A GLANCE
On June 9, 2014 the new Fort McMurray International
Airport terminal opened elevating air travel for the Wood
Buffalo region to a whole new level. The new facility is
approximately 15,000 square metres, five times larger than
the old terminal, and is a one-of-a- kind, environmentally
sustainable facility built for the northern climate. In 2014
a record 1.3 million passengers travelled through Fort
McMurray International Airport (YMM) ranked Canada’s
15th busiest airport. YMM was the fastest growing airport
in Canada with a 2014 passenger growth rate of 9.5%.
To address our land supply shortage, early in 2014, the
Regional Municipality of Wood Buffalo and the Province
of Alberta signed a historic land exchange agreement
through which the Municipality acquired property from the
Province. This important agreement allows for the sale of
developable land, with the proceeds of the sale being used
to fund much needed land development and transportation
infrastructure within the Municipality. This agreement will
ensure that the Municipality is able to better manage its
own growth into the future.
In 2014 Council approved rural water and sewer service
upgrades in Anzac, Conklin, Draper, Gregoire Lake Estates,
Janvier and Saprae Creek. Work on the Rural Water and
Sewer Service Project detailed design options began in
2014 and the entire project is expected to be completed
in late 2016 or early 2017. This project is in keeping with
the evolution of our commitment to ensure residents in
rural areas are provided services appropriate with the
community’s requirements.
In 2014 Council and Administration began work on a major
initiative the “Accountability, Integrity and Transparency
Audit” to position the Municipality for current and future
success. The overall objective of the audit was to provide
Council with a “health-check” of the Municipality’s existing
practices with the intent of providing recommendations for
enhancing and improving upon the current policies and
procedures in place, and where possible, benchmarking the
Municipality’s current environment against leading practices.
Jubilee Plaza, located beside City Hall, opened in November
2014 as an all season meeting place for the residents of the
Municipality. This exciting revitalization project is a dynamic
space that changes with the season and event. In the summer
there will be outdoor events such as our Urban Market, in
the fall our Chinese Lantern Festival to showcase our diverse
culture, in the winter snowman building contests or skating
on our outdoor rink will encourage us to embrace the winter
season and in the spring group exercises such as Zumba
or Yoga will get us ready for the exciting seasons ahead.
Jubilee Plaza is a welcoming place that fits right into all busy
lifestyles year round.
Vista Ridge Ski Resort opened their new WildPlay Adventure
Park in September 2014 to enhance year-round use of the
resort. The park boasts nature-based games on unique
“pawd”-mounted obstacles that climb, zip, jump and swing
through tree-tops. Multi-level platforms hover two to twelve
meters above ground on site at Vista Ridge – now a
year-round stop for outdoor recreation.
Our Fort McMurray FireFit team excelled in September
by showing they are some of the best suited firefighters
in Canada to save you from a burning building. FireFit is
a sport and a way for members of the Fort McMurray Fire
Department to show the results of their emergency-service
training. In the regional competition our team won four
gold medals (Men’s Relay, Men’s NxG2, Indy Women’s and
Mixed NxG2), one silver medal (Men’s NxG2) and one
bronze medal (Indy Women’s). Our FireFit team then
continued to impress at the national competition and won
two gold medals (Men’s Relay and Mixed NxG2) and one
bronze medal (Women’s Relay) while finishing an impressive
4th overall in the Team category.
The Regional Municipality of Wood Buffalo was named
co-winner of the over 50,000 population category for the
2014 Communities in Bloom national competition. We
received a 5 Bloom rating and special mention went to the
Fort McMurray Historical Society’s Marine Park. Communities
in Bloom is a Canadian non-profit organization committed
13
UPCOMING
EVENTS
to fostering civic pride, environmental responsibility and
beautification through community involvement and a national
competition. Wood Buffalo was cited as being a modern,
vibrant community where local history and heritage is
celebrated and recognized.
June 2015 celebrates the opening of Shell Place at
MacDonald Island Park, Wood Buffalo region’s premier
sport and entertainment experience venue. This new venue
has already attracted the following exciting events:
•Football
Fort McMurray ranked one of the best places to start and
grow a business in 2014 according to the Canadian
Federation of Independent Business (CFIB). Fort McMurray
ranked fourth overall on the list of Entrepreneurial Cities in
Canada and second among mid-sized cities with populations
under 150,000. This annual study assesses the degree to
which municipalities enable entrepreneurs and small
businesses to start, grow, and prosper.
-
Edmonton Eskimos bring their Canadian Football League season-opening exhibition game against the Saskatchewan Roughriders to Shell Place’s SMS Stadium on June 13, 2015.
-
The first regular season Canadian Football League game in Wood Buffalo history – the Edmonton Eskimos vs the Toronto Argonauts takes place on June 27, 2015.
• Soccer
- The FC Edmonton Pro Soccer Club will be hosting the 2015 Wood Buffalo Cup featuring the FC Edmonton
vs San Antonio Scorpions match on July 5, 2015.
- The 2015 Canadian Rivalry FC Edmonton vs Ottawa Fury FC in SMS Stadium on August 2, 2015.
•If music is more to your liking the Municipality will
be rocking with Aerosmith’s Blue Army Tour 2015 on
July 19, 2015.
• To close out the summer the region will be hosting the
2015 Western Canada Summer Games Wood Buffalo
with a multi-sport event to provide development
opportunities for amateur athletes and to help them
advance their skills in a competitive friendly environment.
This will be the largest multi-sport event to be hosted in
the Regional Municipality of Wood Buffalo with 18 sports
and over 2,500 athletes from Canada’s four western
provinces and three northern territories. Over 14,000
guests are expected in our region from August 7 – 16,
2015 and the 10 day event will also include a Festival
featuring guest artists, musicians, art displays and
cultural performances.
We invite you to visit our beautiful region this summer
and see for yourself what we have to offer.
14
FINANCIAL SECTION
18 Chief Financial Officer’s Report
30 Audited Financial Statements
Chief Financial Officer’s Report
19 Chief Financial Officer’s Message
20 Canadian Award for Financial Reporting
21 Management Reporting and Control
23 Financial Highlights
29 Our Future
CHIEF FINANCIAL OFFICER’S MESSAGE
May 15, 2015
I am pleased to submit this Financial Report for the Regional Municipality of Wood Buffalo’s fiscal
year ended December 31, 2014. The Municipality’s financial results include the following entities
which we control:
• Regional Municipality of Wood Buffalo Library,
• Regional Recreation Corporation of Wood Buffalo, and
• Wood Buffalo Housing and Development Corporation.
The Municipality delivers valuable services for its’ residents. We provide police and fire protection
to our citizens and maintain critical infrastructure.
The financial statements bring together the financial results of these activities and entities. The
Municipality is responsible for the fairness and completeness of the presentation and all disclosures,
and the accuracy of the data. This report presents to the users an overview of the Regional
Municipality of Wood Buffalo’s financial performance.
This report offers clear insight on the financial results for the Municipality for the fiscal year ended
December 31, 2014. Administration strives to ensure that this report fairly presents the financial
position of the Municipality. The report compares how financial resources were used in comparison
to budgets and past financial performance.
The financial report is presented in three sections: introductory, financial, and statistical. The
introductory section includes the Municipality’s messages, our vision and mission statements,
governance structure, organization chart, year at a glance, profiles and upcoming events. The
financial section includes the Chief Financial Officer’s Report (including the Chief Financial Officer’s
message, Canadian Award for Financial Reporting, management reporting and control, financial
highlights, and our future) and the audited consolidated financial statements (including management’s
responsibility for the consolidated financial statements, the independent auditor’s report on the
consolidated financial statements, the basic consolidated financial statements, and the notes to
the consolidated financial statements). The statistical section includes selected unaudited financial
and demographic information presented on a multi-year basis. This financial report should be read
in conjunction with the audited consolidated financial statements and their accompanying notes
and schedules.
Elsie Hutton, CMA
Chief Financial Officer
19
CANADIAN AWARD FOR
FINANCIAL REPORTING
The Government Finance Officers Association of the
United States and Canada (GFOA) awarded the
Canadian Award for Financial Reporting to the
Regional Municipality of Wood Buffalo for its annual
financial report for the fiscal year ended December 31,
2013. The Canadian Award for Financial Reporting
program was established to encourage municipal
governments throughout Canada to publish high
quality financial reports and to provide peer
recognition and technical guidance for officials
preparing these reports.
In order to be awarded a Canadian Award for Financial
Reporting, a government unit must publish an easily
readable and efficiently organized annual financial
report, whose contents conform to program standards.
Such reports should go beyond the minimum
requirements of generally accepted accounting
principles and demonstrate an effort to clearly
communicate the municipal government’s financial
picture, enhance an understanding of financial reporting
by municipal governments, and address user needs.
A Canadian Award for Financial Reporting is valid for
a period of one year only. We believe our current
report continues to conform to the Canadian Award for
Financial Reporting program requirements, and we are
submitting it to GFOA.
20
MANAGEMENT REPORTING AND CONTROL
Financial Governance
Accounting Process
The Financial Statements are prepared by Administration
in accordance with Canadian Public Sector Accounting
Standards and are in conformance with the requirements
of the Municipal Government Act of the Province of Alberta.
Municipal Council is ultimately responsible for approving the
Municipality’s budget, appointing the auditor and providing
general financial authority and oversight. The Audit and
Budget Committee of Council adds further understanding
by evaluating various reports, policies, audit findings and
reviewing significant or unusual financial transactions or
estimates and reporting the results to Council.
The Municipality is structured by the services provided to its
residents – Infrastructure Services, Community Services,
Planning and Development Services, and Corporate Services.
The accounting process supports this structure by assisting
departments in making effective decisions with the use of ad
hoc reporting that is developed through analysis, review and
recording of business transactions. The development and
implementation of long-term financial plans assists in the
achievement of financial sustainability as well the reporting
of variances and preparation of forecasting reports based on
these plans to support Council and senior management in
making sound decisions on the behalf of the residents of
the Municipality.
Budget and Financial Reporting Process
An annual balanced budget is created each year to illustrate
how the Regional Municipality of Wood Buffalo plans to
meet the public service and infrastructure needs of its
residents. The Council approved Fiscal Management
Strategy is the framework for budget development outlining
a high-level financial overview of the Municipality’s
operating and capital needs which provides context for
setting property tax rates, user fees and other Municipal
service charges. An essential element in our budget
process is the input from our citizens, Council,
Administration and numerous other stakeholders.
The annual budget is comprised of two components –
operating and capital. The Operating Budget consists of a
one year operating budget and two years of financial plans.
The Capital Budget includes a one year capital budget and
five years of capital plans. A “modified accrual” basis is
used for the budget process whereby revenues are
recognized in the period they are deemed available and
measureable to meet or pay for liabilities. Throughout the
year amendments, based on a continual variance and
projection review, are prepared for both operating and
capital budgets to reallocate budget funds within each
category to ensure the efficient administration of service
delivery and infrastructure needs.
Audit Process
The Regional Municipality of Wood Buffalo’s financial
statements are audited annually by an independent auditor.
The purpose of the audit is to provide reasonable assurance
that the financial statements are free from material
misstatements whether caused by fraud or error. Working
closely with management, the audit involves examining, on
a test basis, evidence supporting the amounts and
disclosures in the financial statements, assessing the
accounting principles used, assessing significant estimates
made by management, and evaluating the overall financial
statement presentation. Fraud questionnaires are
completed by senior management and an assessment of
internal controls is conducted by the audit team to provide
further assurance of the reliability of the financial
statements. Following the comprehensive audit process,
the Audit and Budget Committee of Council are presented
with a management letter prepared by the auditors
communicating any significant deficiencies in internal
control identified during the audit and an explanation of
their potential effects. The Audited Consolidated Financial
Statements are provided to the Audit and Budget
Committee for their review and acceptance. Based on the
Committee’s recommendation Municipal Council approves
the Audited Consolidated Financial Statements. 21
Risks and Uncertainty
The Municipality is committed to an integrated approach to
risk management, where it is viewed as a key component of
sound business practices and due diligence. Management
promotes a proactive, corporate-wide, systematic approach
to manage risks that could impact Municipal objectives.
Environmental Risk
The Municipality utilizes environmental management
professionals to assist departments in complying with
environmental laws and regulations. The Municipality has
adopted policies and procedures to govern the
Municipality’s approaches, and the organization follows
environmental systems which provide a sound model to
effectively deal with environmental impacts associated
with municipal activities. In addition, insurance policies
are in place to handle potential unexpected
environmental exposures.
Infrastructure Replacement
Municipal infrastructure is necessary to support a
community’s quality of life and economy. The
Municipality applies long-term construction and
maintenance plans and strategies to ensure that
appropriate local infrastructure is available and continues
to meet the Municipality’s needs and growth projections.
When the Municipality identifies infrastructure
requirements that exceed its funding capacity, Municipal
Council utilizes prioritization and looks for alternative
sources of funding like government transfers, or
borrowing. If not addressed a municipality’s
infrastructure deficit could cause decreased quality of
life, damage to property and loss in productivity.
Insurance Exposures
The Municipality maintains an insurance program to
cover losses related to its activities, operations, assets
and infrastructure. This program has three components:
a self-insured retention budget for all losses falling below
22
policy deductibles, a municipal reciprocal insurance
exchange where our subscriber group insures each other
for medium size losses, and finally an insurance program
purchased through well capitalized external insurers to
cover for losses in excess of the two underlying
deductibles. The Municipality’s approach to risk
management attempts to achieve a balance between
insurance risk management and total costs.
Normal Operational Risk
In the usual course of business, the Municipality is
exposed to various risks that are mitigated through
operational and financial controls. These risks include
the normal operational risks associated with each of the
Municipality’s programs and services, as well as social,
legal, regulatory, and economic issues or changes that
could impact Municipal operations, investment risk
related to volatile financial markets, and human resource
availability and costs.
Certain financial information is also prepared using
estimates and judgments that are based on careful
assessments through the Municipality’s management and
information systems. The Municipality maintains a
system of internal controls to provide reasonable
assurance as to the fairness and reliability of that
information and data. These control systems are
regularly reviewed and enhanced as required to ensure
the production of timely, accurate and complete financial
information to protect and safeguard Municipal assets.
Revenue Volatility
Certain categories of revenue are exposed to economic
or other fluctuations. These include revenues related to
interest revenues, user fees/charges, government
transfers, development permits, etc. To address the
challenge associated with revenue volatility, the
Municipality employs conservative budgeting practices
and monthly variance forecasting as well as monitoring
of the financial market.
FINANCIAL HIGHLIGHTS
FINANCIAL TREND SUMMARY 2014
The financial data below provides an overview of the key financial information over the past three years. Readers should read
this section in conjunction with the accompanying Consolidated Financial Statements and Note Disclosures.
Consolidated Financial Position
Assets
Liabilities
Net financial assets (debt)
Non-financial assets
Net tangible capital assets
Total non-financial assets
Accumulated surplus
2014
738,922,661
836,576,240
(97,653,579)
8,264,352
3,702,206,233
3,710,470,585
3,612,817,006
2013
745,989,965
805,466,086
(59,476,121)
13,277,511
3,318,071,978
3,331,349,489
3,271,873,368
2012
913,930,193
842,784,372
71,145,821
8,388,343
2,841,795,791
2,850,184,134
2,921,329,955
Revenues by Function
Fiscal Services
General Government
Protection Services
Transportation
Environmental Use and Protection
Public Health and Welfare
Planning and Development
Recreation and Culture
Subsidiary Entities
Total Revenues by Function
2014
641,783,971
81,536,397
19,729,557
18,748,931
62,048,552
1,946,305
10,217,069
1,889,845
77,986,154
915,886,781
2013
555,618,582
182,707,815
19,072,434
34,105,186
57,526,349
1,822,295
11,446,563
1,210,216
48,462,338
911,971,778
2012
502,054,453
133,624,940
16,698,157
21,665,551
76,035,104
1,920,015
11,461,632
643,677
59,831,873
823,935,402
Expenses by Function
Fiscal Services
General Government
Protection Services
Transportation
Subsidiary Entities
Total Expenses by Function
2014
10,489,009
118,410,062
85,797,169
106,699,092
99,324,179
25,530,409
20,988,476
53,566,083
54,138,664
574,943,143
2013
10,495,439
125,671,418
79,544,085
102,488,491
92,683,239
12,247,492
24,297,730
59,984,239
54,016,232
561,428,365
2012
241,177
111,361,579
77,936,215
90,134,416
87,853,772
5,502,658
20,273,033
54,996,125
47,984,799
496,283,774
Annual Surplus (Deficit) by Function
Fiscal Services
General Government
Protection Services
Transportation
Subsidiary Entities
Total Annual Surplus (Deficit) by Function
2014
631,294,962
(36,873,665)
(66,067,612)
(87,950,161)
(37,275,627)
(23,584,104)
(10,771,407)
(51,676,238)
23,847,490
340,943,638
2013
545,123,143
57,036,397
(60,471,651)
(68,383,305)
(35,156,890)
(10,425,197)
(12,851,167)
(58,774,023)
(5,553,894)
350,543,413
2012
501,813,276
22,263,361
(61,238,058)
(68,468,865)
(11,818,668)
(3,582,643)
(8,811,401)
(54,352,448)
11,847,074
327,651,628
23
REVENUES
CONSOLIDATED REVENUES BY SOURCE
2014 actuals versus budget:
Net Taxes 69%
Overall revenues are $80 million more than budgeted for
2014. This is largely due to the following events:
Government Transfers 9%
• $38 million increase from budget for provincial capital
transfer revenues recognized in 2014 from funds
deferred from prior years;
Sales & User /Charges 10%
• $2 million unbudgeted landscaping contracts with
certain developers incurred during 2014;
• $11 million unbudgeted flood recovery reimbursement
recognized;
Other 3%
Licenses, fines, & penalties 2%
Returns on Investments 2%
Rentals 3%
Contributions of tangible
capital assets 2%
• $10 million unbudgeted developers’ agreements and
levies revenue as no revenue is budgeted for this
revenue category; and
• $19 million unbudgeted as the Municipality does not
budget for contributed tangible capital assets due to
their non-cash nature.
CONSOLIDATED REVENUES BY TYPE
1000
800
The 2014 financial statements detail the 2014 actual
($916 million) and the 2013 actual ($912 million) revenues
by major type. The chart to the right graphically shows
this information.
Overall 2014 revenues are $4 million more than 2013
revenues. This is largely due to the following events:
• Increase of $81 million due to increases in machinery
and equipment taxes from oil sands growth;
• Increase of $5 million in flood recovery reimbursement
for costs incurred in 2014 for infrastructure repairs
required from the 2013 flooding;
• Decrease of $31 million as Community Development
Plan Grant capital projects’ funding was largely utilized
in 2013 as projects are now nearing completion; and
Millions $
2014 versus 2013 actuals:
$71
$72
$42
$110
$91
$83
600
$161
$86
$114
$133
$84
$107
400
$651
$632
$551
$499
2014
Budget
2014
Actual
2013
Actual
2012
Actual
200
0
■ Net Taxes
■ Government Transfers
■ Sales & User Charges ■ Other
• Decrease of $51 million primarily due the decrease in
contributions of tangible capital assets from 2013.
24
EXPENSES
CONSOLIDATED OPERATING EXPENSES
BY SEGMENT
2014 actuals versus budget:
Overall expenses were $62 million over budget for 2014.
Amortization and loss on disposal are not budgeted due to
the non-cash nature of these transactions and accounts for
$77 million of the over budgeted amount. Salaries, wages
and benefits came in $15 million under budget due to
higher vacancy rate than expected during the year.
The budget to actual difference from these items impacts
the segments as follows:
Recreation and
Culture 9%
Planning and
Development 4%
Subsidiary Entities 9%
Fiscal Services 2%
Public Health
and Welfare 4%
General
Government
21%
Environment
Use and
Protection 17%
Protection
Services 15%
• General Government ($6 million under);
Transportation 19%
• Protective Services ($4 million over);
• Transportation ($23 million over);
• Environmental Use and Protection ($26 million over);
• Recreation and Culture ($12 million over);
CONSOLIDATED EXPENSES BY TYPE
• Planning and Development ($2 million under); and
600
• Subsidiary Entities ($5 million over).
500
2014 versus 2013 actuals:
The chart to the right graphically shows that expenses,
excluding amortization and loss on disposal expenses,
have increased in 2014 by $15 million over 2013. This is
largely due to the following events:
• Increase of $13 million due to success in filling job
vacancies as we continue to improve our hiring;
Millions $
The 2014 financial statements detail the 2014 actual
($575 million) and the 2013 actual ($561 million) expenses
by major type.
400
300
$68
$46
$70
$46
$82
$48
$58
$48
$161
$159
$143
$138
$238
$223
$210
$189
2014
Budget
2014
Actual
2013
Actual
2012
Actual
200
100
0
• Increase of $16 million in contracted services in 2014
from projects related to the 2013 flooding event;
■ Salaries, wages
■ Contracted and
• Decrease of $9 million of grants paid due to one-time
grants paid in 2013; and
■ Materials, goods,
■ Other Expenses
and benefits
supplies and utilities
general services
• Decrease of $3 million due to write off of outstanding
accounts in 2013.
25
NET TANGIBLE CAPITAL ASSETS
TANGIBLE CAPITAL ASSETS
Tangible capital assets have increased by $384 million in
2014. This increase consists of:
4000
3500
• Land and land improvements increase of $31 million;
3000
• Buildings and improvements increase of $52 million;
• Machinery, equipment and vehicles increase of $13
million; and
2500
Millions $
• Engineered structures increase of $122 million;
2000
$3,702
$3,318
$2,842
2014
2013
2012
1500
• Assets under construction increase of $166 million.
1000
500
0
2014 TANGIBLE CAPITAL
ASSET ACQUISITIONS
Land and land
improvements 8%
Machinery,
equipment and
vehicles 6%
The $384 million increase in tangible capital assets in
2014 consists of $461 million for additions less $3 million
in disposals and $74 million for annual amortization. Of
the $461 million in additions:
Buildings and
Improvements 15%
• Land and land improvements increased by $38 million;
• Buildings and improvements increased by $68 million;
• Engineered structures increased by $160 million;
• Machinery, equipment and vehicles increased by
$29 million; and
Engineered
Structures 35%
• Assets under construction increased by $166 million.
Assets Under
Construction 36%
26
MUNICIPAL LONG TERM DEBT
During 2014 the Municipal Long Term Debt, excluding
certain controlled corporations, decreased by $15 million
to $317 million due to debt repayments during the year.
No new borrowing occurred during 2014.
MUNICIPAL LONG TERM DEBT
350
300
$130
$136
$143
$187
$196
$205
2014
2013
2012
Millions $
250
200
150
100
50
0
■ Tax Supported
■ Utility Supported
27
In 2014 the Municipality is utilizing 20.46% or $317 million
of the $1.5 billion available debt limit and 11.28% or $31
million of the $271 million available debt service limit. As
the charts illustrate the debt and debt service limits are
maintained at relatively stable levels without any major
swings. This indicates that the debt levels are not negatively
impacting the delivery of programs by compromising
revenues for debt service. The debt shown in this section
contains actual debt and does not incorporate the expected
debt to be drawn in the future.
The debt limit is prescribed by the Minister of Municipal
Affairs for municipalities in the province and is defined as
two times the applicable revenue of the Municipality and
the debt service limit is calculated at 0.35 times of the same
revenue. Municipal Council has set the Municipality’s limit
at 85% of the provincially regulated debt limits. The
Municipality has elected to exclude revenues, total debt
and debt services costs for certain controlled corporations
from its debt limit and debt service limit calculations.
DEBT SERVICE LIMIT USAGE
DEBT LIMIT USAGE
300
1800
250
11.28%
1600
Millions $
12.80%
1400
20.46%
1200
24.16%
27.01%
Millions $
1000
200
150
13.97%
88.72%
87.20%
86.03%
2014
2013
2012
100
50
800
79.54%
75.84%
72.99%
600
400
0
■ Unused Service on Long
Term Debt Limit Available
200
■ Annual Payments on Existing
Municipal Debt
0
2014
2013
2012
■ Unused Long Term Debt Limit Available
■ Total Municipal Debt Used
28
OUR FUTURE
The Regional Municipality of Wood Buffalo, located in
the beautiful boreal forest, is one of Canada’s largest and
fastest growing municipalities. Between 2000 and 2012,
the population grew an astounding 125% with more than
116,000 people calling the Municipality home. We are
known for encouraging education and innovation, and
enabling entrepreneurs and small businesses to thrive
alongside multinational corporations. The spirit of
innovation that characterized the region when it was
first founded by fur traders over 140 years ago is alive
and well today.
While the Municipality is accustomed to significant
economic growth and the many opportunities that flow
from success, it has also become adept at managing the
challenges that accompany robust development. One
of the greatest challenges faced by the Municipality
was a land supply shortage for residential, commercial,
recreational, cultural and industrial development which
resulted in high housing costs and a shortage of retail
services and amenities. The land exchange agreement
achieved in 2014 between the Municipality and the
Province allows the Municipality to address the current
needs of the community and plan for future growth.
Today’s Municipality is working towards a Zero Waste
Initiative which, in collaboration with the Oil Sands
Developers Group and Keyano College, will utilize proven
technologies to manage waste. The Regional Municipality
of Wood Buffalo is committed to being a world leader
in promoting and activating sustainable solutions and is
exploring innovative technologies to address sustainability.
Our goal is to achieve cost neutral or better waste
management, local production of food and goods and a
reduced environmental footprint. The Zero Waste Initiative
strives to demonstrate sustainable solutions for global
issues and to be a model for sustainable practices.
Looking forward a priority goal for Council is operational
excellence in all areas of the Municipal government. The
Municipality will continue to offer outstanding services in
all areas that are strong and will rebuild other areas by
bringing in resources, training, due diligence and oversight.
The Municipality will increase internal capacity to carry out
municipal development through improved procedures,
enhancement of skills and knowledge of employees, better
communication and information sharing with partners
throughout the region.
The Regional Municipality of Wood Buffalo provides an
inspiring example of how northern resource wealth brings
excellent opportunities for growth, development and
innovation. In this regard, our region provides a perspective
that is unparalleled in Canada. Our Municipality strikes a
balance between an urban setting and contemporary lifestyle
and a rich rural culture and traditional ways of life. We are
home to a diverse population, strong arts and social profit
sectors, excellent facilities and stunning natural surroundings.
The future is bright for our region as we prepare for
continued population growth, new neighbourhoods,
improved transportation networks, updated infrastructure
and enhanced services. The great gains of 2014 have
positioned the Municipality to enjoy even greater success
in the coming years.
29
Audited Financial Statements
Consolidated Financial Statements of
Year ended December 31, 2014
31 Management’s Responsibility for the
Consolidated Financial Statements
32 Independent Auditor’s Report
33 Consolidated Statement of Financial Position
34 Consolidated Statement of Operations
and Accumulated Surplus
35 Consolidated Statement of Change
in Net Financial Assets (Debt)
36 Consolidated Statement of Cash Flows
37 Notes to Consolidated Financial Statements
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
STATISTICAL SECTION (UNAUDITED)
70 General Statistical Information
71 Statement of Financial Position
72 Revenues by Object, Expenses
by Function and Annual Surplus
74 Expenses by Object
74 Tax Collection
75 Taxation, Assessment and Requisitions
76 Total Long Term Debt and Long Term
Debt Servicing Limits
77 Acquisitions of Tangible Capital Assets
77 Government Transfers
78 Reserves and Accumulated Surplus
70
20142013201220112010
1.8063 2.3015 2.3322 2.4774 2.6633
1,237 1,196 1,218 1,155 1,149
NOTES:
(1)Population data obtained from Alberta Municipal Affairs Annual Population Lists (per annual Federal Census results). (2)Number of dwelling units data obtained from Alberta Municipal Affairs Statistical Information Returns.
(3)Municipal Hectares data obtained from Alberta Municipal Affairs Statistical Information Returns.
(4)Building Permits data obtained from Statistics Canada.
(5)Housing Starts data per Canada Housing And Mortgage Corporation.
(6)Residential tax rate data obtained from Alberta Municipal Affairs Statistical Information Returns.
(7)Consumer Price Index and Unemployment Rate data obtained from Statistics Canada.
(8)Full time equivalent municipal employees data obtained from Alberta Municipal Affairs Statistical Information Returns.
Full Time Equivalent Municipal Employees (8)
Consumer Price Index Change (Percentage) (7)
Alberta 2.6 1.4 1.1 2.4 1.0
Canada
2.0 0.9 1.5 2.9 1.8
Unemployment Rate (Percentage) (7)
Alberta 4.7 4.6 4.6 5.4 6.6
Canada
6.9 7.1 7.3 7.5 8.1
Residential Municipal Tax Rate (6)
Population (1)
116,407 116,407 116,407 101,238 91,612
Number of dwelling units (2)
31,501 30,375 28,833 28,203 27,151
6,636,100 6,636,100 6,636,100 6,845,424 6,845,424
Municipal Area (In Hectares) (3)
Value of Building Permits - in thousands (4)
Residential 188,204 253,186 241,638 251,193 260,318
Commercial
183,443 223,178 413,845 131,539 169,172
Industrial
160,926 274,682 653,926 752,817 763,559
Oil and Gas
360,275 317,617 196,831 95,417 366,391
Institutional
2,904 29,125 16,974 10,738 96,546
895,752 1,097,788 1,523,214 1,241,704 1,655,986
Building Permits Issued (4)
Residential 1,495 1,476 1,636 1,635 1,736
Commercial
281 227 199 181 167
Industrial
192 219 353 448 614
Oil and Gas
323 285 217 69 206
Institutional
12 8
17 21 14
2,303 2,215 2,422 2,354 2,737
Housing Starts (5)
509 967 637 780 769
For the Years Ended December 31, 2010-2014
REGIONAL MUNICIPALITY OF WOOD BUFFALO
General Statistical information
71
Financial assets
$ 158,684,331
$ 109,871,998
$
83,910,430 $
23,631,478
$
64,635,605
Cash and cash equivalents
Restricted cash
29,960,774 28,500,698 24,968,743 23,147,571 4,465,115
Taxes and grants in lieu receivable
5,610,392 6,777,064 5,795,482 5,324,030 5,965,468
Trade and other receivables
48,866,519 52,944,396 61,052,505 110,348,635 85,943,451
Inventories held for resale
1,468,114 735,511 1,102,347 66,689,619 71,176,504
Investments
484,578,395 536,733,108 726,473,330 755,857,927 835,078,699
Mortgages and notes receivable
9,754,136 10,427,190 10,627,356 7,805,221 Interest in subsidiary operation (discontinued)
- - - - Total Financial Assets
738,922,661 745,989,965 913,930,193 992,804,481 1,067,264,842
Liabilities
Accounts payable and accrued liabilities
218,338,452 149,152,419 123,265,596 133,114,943 130,342,919
Deposit liabilities
9,397,407 11,265,718 8,706,412 8,749,445 7,845,436
Deferred revenue
161,467,121 192,908,082 241,809,794 326,233,317 286,766,139
Employee benefit obligations
17,106,972 19,355,331 16,562,013 13,885,832 15,384,343
Provision for landfill closure and post-closure obligation
12,391,616 12,478,720 13,518,275 12,190,490 8,657,101
Long-term debt
417,874,672 420,305,816 438,922,282 456,332,345 478,268,140
Total Financial Liabilities
836,576,240 805,466,086 842,784,372 950,506,372 927,264,078
Net Financial assets (debt)
(97,653,579)
(59,476,121)
71,145,821 42,298,109 140,000,764
Non-financial assets
Tangible capital assets 3,702,206,233 3,318,071,978 2,841,795,791 2,548,455,548 2,092,735,353
Consumable inventories
2,341,902 2,468,109 3,241,271 513,108 860,049
Prepaid expenses
5,922,450 10,809,402 5,147,072 2,411,562 5,357,057
Total Non-Financial Assets 3,710,470,585 3,331,349,489 2,850,184,134 2,551,380,218 2,098,952,459
Accumulated Surplus
$3,612,817,006 $3,271,873,368 $2,921,329,955 $2,593,678,327 $2,238,953,223
20142013201220112010
Statement of Financial Position
72
Revenues by Object:
Net taxes available for municipal purposes
$ 632,285,095
$ 550,735,297
$ 499,241,271
$
Government transfers for operating
15,500,681 14,119,956 24,454,373 90,996,743 85,888,419 84,368,301 Sales and user charges
Sales to other governments
3,280,699 2,960,403 5,341,330 Penalties and costs on taxes
1,958,105 2,645,603 2,210,060 10,289,482 10,742,144 11,132,361 Licenses and permits
Fines
4,161,236 5,304,681 5,532,318 8,948,639 5,225,944 4,576,685 Franchise and concession contracts
Returns on investments
13,170,336 18,419,609 22,120,784 30,340,926 25,749,993 24,462,760 Rentals
Transfers from local boards and agencies - - - 9,663,697 11,007,606 12,260,757 Developers’ agreements and levies Other
8,312,291 4,983,166 4,396,343 Gain on disposal of assets
- - 735,252 Total Revenues by Object
828,907,930 737,782,821 700,832,595 Expenses by Function:
Council and other legislative
1,649,476 1,658,700 1,916,781 General administration
122,412,748 125,109,360 101,258,749 Other general government
4,611,043 3,756,576 3,909,702 Police
36,884,213 34,392,162 37,842,090 Fire
29,756,970 28,479,659 26,540,852 Disaster and emergency measures
671,232 399,646 1,204,450 Ambulance and first aid 11,791,985 9,237,720 8,548,337 Bylaws enforcement
6,663,533 7,034,898 5,031,365 Common and equipment pool
27,606,729 30,375,851 26,131,187 Roads, streets, walks, lighting
48,349,430 44,994,959 42,868,481 Public transport
27,633,803 25,982,977 24,038,594 Storm sewers and drainage
3,107,950 1,134,703 3,601,100 Water supply and distribution
28,866,000 38,552,244 32,609,306 Wastewater treatment and disposal
31,953,189 33,472,186 28,907,210 Waste management
38,504,244 20,658,810 23,027,289 432,085,357 18,074,280 96,809,819 1,690,032 1,543,375 11,380,602 3,001,260 4,582,643 13,835,898 12,612,073 62,000 5,971,414 9,454,177 5,715,212 616,818,142 1,299,712 65,431,304 3,873,919 27,246,249 22,430,483 691,780 7,900,637 4,396,980 15,682,872 34,119,155 16,968,024 1,695,586 25,565,138 22,621,189 12,484,796 480,027,699
$
16,033,251 81,417,932 2,077,293 1,576,980 10,583,341 3,435,635 4,598,555 23,118,587 21,332,118 - 18,549 7,474,880 16,026,552 667,721,372 1,468,407 77,978,117 3,848,328 31,840,651 24,700,258 722,111 6,774,157 5,162,463 22,855,623 38,785,113 20,790,171 1,950,490 29,076,965 27,275,505 21,057,691 For the Years Ended December 31, 2010-2014
20142013201220112010
Revenues by Object, Expenses by Function and Annual Surplus
73
Annual surplus
340,943,638 350,543,413 327,651,628 406,016,500 349,396,077
Accumulated surplus, beginning of year 3,271,873,368 2,921,329,955 2,593,678,327 2,238,953,223 1,889,557,146 Restatements
- - - (51,291,396)
- Accumulated surplus, end of year
$ 3,612,817,006
$ 3,271,873,368
$ 2,921,329,955
$ 2,593,678,327
$ 2,238,953,223 74,558,193 98,200,169 176,637,715 5,369,083 15,060 118,515 11,630,567 5,238,834 35,665,090 3,403,454 1,800,987 55,244,031 5,482,571 4,880,089 - 496,283,774 Annual surplus before other
253,964,787 176,354,456 204,548,821 220,898,097 Other:
Contributions of tangible capital assets 19,270,965 73,721,884 40,345,352 82,082,914 Government transfers for capital
67,707,886 100,467,073 82,757,455 103,035,489 11,992,986 25,000 229,506 12,176,508 9,149,381 35,018,634 2,971,485 1,622,764 65,928,012 11,431,416 5,642,222 - 561,428,365 6,748,952 15,000 1,429,447 11,181,775 2,922,834 45,102,050 - 1,453,902 49,883,314
6,159,702 199,466 52,676,161 440,180,427 12,897,028 - 553,621 13,886,489 4,179,858 32,693,226 2,905,735 278,651 79,991,105 7,094,885 - - 574,943,143 6,335,293 15,000 112,067 12,709,267 1,898,374 40,367,077 2,893,814 1,984,947 60,679,362 2,415,588 3,126,436 - 446,823,275 Family and community support
Day care
Cemeteries and crematoriums
Land use planning, zoning and development
Subdivision land and development
Public housing operations
Land, housing and building rentals
Recreation boards
Parks and recreation
Culture: libraries, museums, halls
Other Subsidiary operation (discontinued)
Total Expenses by Function
20142013201220112010
Revenue by Object, Expense by Function and Annual Surplus (continued)
74
223,237,680
$
158,779,289 23,387,184 45,546,537 619,009 - 918,500 15,861,130 477,754 18,636,259 10,553,153 74,398,095 2,528,553 - 561,428,365
$
209,699,771
$
143,460,867 22,877,551 48,210,565 3,788,417 - 7,794,875 17,889,114 988,710 19,982,898 8,851,458 66,249,827 11,634,312 - 496,283,774
$
189,265,356
$
137,729,586 22,922,173 48,271,980 (518,095)
44,001 3,665,000 9,902,957 570,677 21,295,143 153,914 62,981,082 - - 446,823,275
$
182,680,519
$
114,664,980 20,177,725 49,608,968 766,078 46,367 565,000 7,723,102 494,199 21,439,670 266,111 48,390,556 - - 440,180,427 52,676,161 159,218,905 99,269,484 17,576,918 47,463,954 525,141 48,519 3,811,288 4,195,605 330,015 15,315,982 252,444 39,496,011 Current Levy
$700,765,358 $609,129,886 $540,955,541 $517,505,922 $465,777,512
Taxes Receivable
4,802,377 5,678,018 4,656,579 4,980,224 4,827,081
Current
In arrears for one year or more
903,312 1,160,150 1,234,598 885,594 1,266,209
Total Taxes Receivable
$
5,705,689 $
6,838,168
$
5,891,177
$
5,865,818
$
6,093,290
Taxes Outstanding, Before Allowance (Percentage)
Current 0.69%0.93%0.86%0.96%1.04%
In arrears for one year or more
0.13%
0.19%
0.23%
0.17%
0.27%
20142013201220112010
Tax Collection
Total Expenses by Object
$ 574,943,143
$
Salaries, wages and benefits $
Contracted and general services
Purchases from other governments
Materials, goods, supplies and utilities
Provision for allowances
Transfers to other governments
Transfers to local boards and agencies
Transfers to individuals and organizations
Bank charges and short-term interest
Interest on long-term debt
Other
Amortization of tangible capital assets
Loss on disposal of tangible capital assets
Subsidiary operation (discontinued)
20142013201220112010
Expenses by Object
75
Taxation Assessment (1)
$ 14,799,489,248
$14,199,696,242
$12,945,034,990
$11,543,044,268
$12,438,727,690
Municipal Residential
Municipal Non Residential 6,411,203,911 5,666,699,289 5,036,888,387 4,393,134,137 3,752,363,019
Machinery and Equipment 22,560,286,801 19,950,826,978 18,640,166,231 16,897,027,043 15,268,206,715
Linear 2,446,758,760 2,222,010,330 2,226,790,430 2,282,045,720 2,063,742,500
Total Taxation Assessment
$ 46,217,738,720
$ 42,039,232,839
$38,848,880,038
$35,115,251,168
$ 33,523,039,924
20142013201220112010
Taxation:
Real property taxes
$ 698,322,940
$ 606,257,801
$ 538,229,439
$ 514,932,735
$ 463,731,384
Government in lieu of property taxes
1,149,298 1,416,634 1,546,921 1,184,234 1,228,989
Special assessments and local improvement taxes
356,510 358,559 409,854 333,994 353,594
Well drilling
936,610 1,096,892 769,327 1,054,959 463,545
Total Taxation
700,765,358 609,129,886 540,955,541 517,505,922 465,777,512
Requisitions:
Alberta School Foundation Fund
46,584,650 54,692,135 39,454,459 36,540,935 32,778,133
School boards
21,895,613 3,702,454 2,259,811 937,288 914,022
Total Requisitions
68,480,263 58,394,589 41,714,270 37,478,223 33,692,155
Net taxes available for municipal purposes
$ 632,285,095
$ 550,735,297
$ 499,241,271
$ 480,027,699
$ 432,085,357
NOTES:
(1)Taxation assessment data obtained from Alberta Municipal Affairs website (per annual Federal Census results)
20142013201220112010
Taxation, Assessment and Requisitions
76
Long Term Debt
Municipal debt:
Capital leases supported by general tax levies
$
-
$
-
$
25,357
$
33,363
$
225,697
Debentures supported by general tax levies
187,154,649 195,890,234 204,695,808 213,326,426 222,258,928
Debentures supported by utility rates
129,850,459 136,339,962 142,629,319 148,935,748 154,774,429
Total Municipal Debt
317,005,108 332,230,196 347,350,484 362,295,537 377,259,054
Controlled organizations debt:
- - 3,803 141,697 198,850
Capital leases
Demand loans - operating
- - - - 10,203,077
Demand loans - capital
15,455,210 - - 17,236 7,911,495
Long-term debt
85,414,354 88,075,620 91,567,995 93,877,875 82,695,664
Total Controlled Organizations Debt
100,869,564 88,075,620 91,571,798 94,036,808 101,009,086
Total Long Term Debt
$ 417,874,672
$ 420,305,816
$ 438,922,282
$ 456,332,345
$ 478,268,140
Long Term Debt per Capita
Capital leases supported by general tax levies
$
-
$
- $
-
$
-
$
2
Debentures supported by general tax levies
1,608 1,683 1,758 2,107 2,426
Debentures supported by utility rates
1,115 1,171 1,225 1,471 1,689
Total Long Term Debt per Capita
$
2,723
$
2,854
$
2,983
$
3,578
$
4,117
20142013201220112010
Total Long Term Debt Limits
Maximum allowable debt
$ 1,549,385,876
$ 1,374,840,818
$ 1,286,108,450
$ 1,220,870,356
$ 1,082,278,430
Total municipal debt
317,005,108 332,230,196 347,350,484 362,295,537 377,259,054
Amount of Total Long Term Debt Limit Available
$ 1,232,380,768
$ 1,042,610,622
$ 938,757,966
$ 858,574,819
$ 705,019,376
Percentage of long term debt limit used
20.46%
24.16%
27.01%
29.68%
34.86%
Total Long Term Debt Servicing Limits
Maximum allowable debt service
$ 271,142,528
$ 240,597,143
$ 225,068,979
$ 213,652,312
$ 189,142,896
Annual payments on existing municipal debt
30,592,210 30,808,358 31,437,919 32,010,267 32,790,631
Amount of Service on Long Term Debt Limit Available
$ 240,550,318
$ 209,788,785
$ 193,631,060
$ 181,642,045
$ 156,352,265
Percentage of service on long term debt used
11.28%
12.80%
13.97%
14.98%
17.34%
20142013201220112010
Total Long Term Debt and Long Term Debt Servicing Limits
77
Transfers for Operating:
Conditional share cost agreements and grants
$
56,475
$
497,445
$
792,749
$
843,838
$
850,440
- Federal Government
- Provincial Government
15,444,206 13,622,511 23,661,624 15,189,413 17,223,840
Total government transfers for operating
15,500,681 14,119,956 24,454,373 16,033,251 18,074,280
Transfers for Capital
Conditional shared cost agreements and grants
- (107,494)
- 399,368 888,529
- Federal Government
- Provincial Government
67,707,886 100,574,567 82,757,455 97,311,640
102,636,121 Total government transfers for capital
67,707,886 100,467,073 82,757,455 103,035,489 98,200,169
Total government transfers
$ 83,208,567 $114,587,029 $107,211,828 $119,068,740 $116,274,449
20142013201220112010
Government Transfers
Land
$ 19,990,062 $14,471,631$49,789,440 $75,246,420 $19,353,042
18,169,373 29,162,265 42,671,486 16,365,001 6,695,341
Land Improvements
Buildings and Improvements
67,843,756 4,202,252 53,892,686 43,331,892 213,800,869
Engineered Structures
160,481,396 170,338,974 293,724,626 44,640,742 303,720,177
Machinery and Equipment
23,036,693 8,134,981 8,502,264 11,647,682 10,197,041
Vehicles
5,965,166 6,171,840 4,908,384 11,612,320 8,439,507
Assets Under Construction
165,916,198 323,142,926 (75,954,709)
308,012,459 (227,092,946)
Total Tangible Capital Asset Acquisitions
$ 461,402,644
$ 555,624,869
$ 377,534,177
$ 510,856,516
$ 335,113,031
20142013201220112010
Acquisitions of Tangible Capital Assets
78
Operations:
Surplus - undesignated
$ 124,538
$124,538
$124,538
$124,538
$124,538
Operating reserves:
121,374,437 112,566,264 101,330,789 87,252,515 172,687,174
General administration
Common services
142,575 142,575 142,575 145,003 145,003
Roads and streets
- - - 57,231 57,231
Municipal planning
- - - 33,526 33,526
Land and housing
- - - 547 547
Recreation
383,702 374,838 365,934 368,554 357,880
Urban Parks
289,775 289,776 294,775 289,777 289,777
Regional Municipality of Wood Buffalo Library
1,480,141 2,416,056 3,055,330 3,340,718 2,510,397
Wood Buffalo Housing & Development Corporation
36,525,053 35,214,919 51,711,109 54,225,966 51,199,378
Regional Recreation Corporation of Wood Buffalo
69,757 (21,723)
(681,150)
(465,362)
(460,153)
Total Operating Reserves
160,265,440 150,982,705 156,219,362 145,248,475 226,820,760
Total Operations
160,389,978 151,107,243 156,343,900 145,373,013 226,945,298
Capital
Deficiency - undesignated
(373,255,194)
(237,573,927)
(149,259,717) (104,242,148)
(43,014,590)
Capital reserves:
General 519,086,018 440,226,676 493,153,051 442,164,951 413,659,197
Equipment
706,327 706,327 706,327 706,327 704,168
Firefighting and preventive services
- - - 154,651 152,959
Common services
708,599 708,599 708,599 774,064 765,599
Roads and streets
32,390 32,219 32,059 162,918 161,307
Water supply
2,052,107 2,052,107 2,052,107 2,045,026 2,042,500
Sewage
2,317,650 2,317,650 2,317,650 2,324,731 2,324,731
Recreation
6,907,212 6,907,212 6,907,212 7,606,715 7,468,656
Wood Buffalo Housing & Development Corporation
7,880,145 6,012,887 4,010,045 3,217,660 2,598,309
Regional Recreation Corporation of Wood Buffalo
1,660,213 1,610,213 1,485,213 1,267,216 474,799
Total Capital Reserves
541,350,661 460,573,890 511,372,263 460,424,259 430,352,225
Equity in tangible capital assets
Tangible capital assets 4,353,321,088 3,900,501,984 3,364,529,319 Accumulated amortization
(651,114,855)
(582,430,006)
(522,733,528)
Long-term debt
(417,874,672)
(420,305,816)
(438,922,282) 2,092,123,203 1,624,670,290
Total Equity in Tangible Capital Assets 3,284,331,561 2,897,766,162 2,402,873,509 2,092,123,203 1,624,670,290
Total Capital 3,452,427,028 3,120,766,125 2,764,986,055 2,448,305,314 2,012,007,925
Accumulated Surplus
$ 3,612,817,006 $3,271,873,368 $2,921,329,955 $2,593,678,327 $2,238,953,223
20142013201220112010
Reserves and Accumulated Surplus
For inquires on the 2014 Financial Report,
please direct them
By mail:
The Regional Municipality of Wood Buffalo
Financial Services
1st Floor Jubilee Building
9909 Franklin Avenue
Fort McMurray, AB
Canada T9H 2K4
By email: Financial.Services@rmwb.ca
By phone: 780-792-5959
For more information about the
Regional Municipality of Wood Buffalo,
visit www.rmwb.ca
www.rmwb.ca

2014 Financial Report | Regional Municipality of Wood Buffalo

Transcription

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