District of West Vancouver 2009 Annual Report · 2018. 10. 12. · WEST VANCOUVER — 1 District of West Vancouver Annual Report—For the year ending December 31st, 2009 Vision West

District of West Vancouver

2009 Annual Reportfor the year ending December 31, 2009

WEST VANCOUVER — 1

District of West VancouverAnnual Report—For the year ending December 31st, 2009

Vision

West Vancouver will inspire excellence and lead by example. Collaborative government and a spirit of personal civic commitment will power the innovations that shape our shared future. The strength of this relationship will secure our treasured quality of life and will be the measure of our success as a community.

Mission

We champion the opportunities that demonstrate our deep commitment to:

• Fosterasenseofsharedandindividualresponsibilityforcommunitywellbeing, inclusion, social unity, and respect for our full heritage.

• Protect,restore,anddefendournaturalenvironment; legislate efforts to effect positive change.

• Encouragediversityinhousing,landuse,andinnovativeinfrastructurewithin our distinct neighbourhoods to meet changing needs.

• Enrichcommunityvitality,health,andunderstandingthroughintegratingarts, learning, inter-cultural experiences, and physical activity into our daily lives.

• Maximizethepotentialofoureconomicbaseandservices,andbalancing the effective long-term use of resources for current and future generations.

The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Canadian Award for Financial Reporting to the District of West Vancouver for its annual financial report for the fiscal year ended December 31st, 2008.

In order to be awarded a Canadian Award for Financial Reporting, a government 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 the Canadian Award for Financial Reporting program requirements and we are submitting it to GFOA.

Award for Financial Reporting


Table of Contents

Introductory Section

4 Message from Mayor & Council

6 Organization

7 Management Team

8 Strategic Plan

Divisional Highlights

10 Administration

12 Human Resources & Payroll Services

14 Financial Services

16 Parks & Community Services

18 Fire & Rescue

20 Police

22 Engineering & Transportation

24 Engineering Utility Funds

26 Planning, Lands, & Permits

28 Library

30 Community Partners

Financial Section

35 Report from the Director of Finance

41 Financial Statements

Statistical Section

73 Statistical Review

LAND AREA

• 87.4squarekilometres

POPULATION

• 44,452residents(BCStats)

• 8%Children0–9(2006Census)

• 14%Youth10–19(2006Census)

• 23%Seniors65+(2006Census)

• 23%areavisibleminority(2006Census)

• 15%haveadisability(2001Census)

• 3,200businesses(DistrictofWestVancouver)

• 18,830households(CanadaPost)

MUNICIPAL FACTS

• 724permanentemployees

• $113millionoperatingbudget

• $27millioncapitalbudget

Message from Mayor & Council

2009 was the first year of this Council’s term, and it was a year of strong collaboration between the community, Council, and our staff working together to develop a Strategic Plan. Our Vision Statement says that we will inspire excellence and lead by example.

The key goals of the plan are Civic Responsibility, the Environment, Land Use, Housing and Transportation, Community Life, and Economic Stability. This reflects the foundations laid by all of our Working Groups over the past three years. Our staff created a Balanced Scorecard to translate these goals into concrete steps, which identify cost to the taxpayer, and a timeline for completion.

We have also begun a new budget process. It is a breakthrough for this Council, and unique amongst municipal governments, to be in a position to introduce a budget that is driven by the Strategic Plan and laid out over multiple years by the Balanced Scorecard. It expects that municipal departments will be integrated; it expects that Council will offer clear rationales for new initiatives, including budget implications; it commits to biannual reporting by staff on our progress; and it places community engagement at the heart of its success.

This year we completed the North Shore Police Services Review to identify ways to work together better; we became part of Metro Vancouver’s pilot to collect organics at the curb; we won national and provincial awards for the Eagle Lake Membrane Filtration Plant; we opened the Community Centre and solidified an exceptional partnership with Vancouver Coastal Health; we passed the Childcare Zoning Bylaw; we legalized secondary suites; and we brought the Home-Based Business Zoning Bylaw up to date.

At the library, with significant support from the Library Foundation, RFID technology for checking books in and out was installed, the reading room was moved, and a little theatre space downstairs was built. Our commitment to developing strong partnerships resulted in the stellar Sarah McLachlan concert in September. And, while we accomplished all of this, we prepared for the 2010 Winter Games.

It is a pleasure to present this report and to represent the spirit of collaboration and civic commitment that makes West Vancouver an exceptional community.

Mayor Pamela Goldsmith-Jones


Organization

2009 was exceptional. Despite a swift worldwide economic downturn, the District of West Vancouver continued to make impressive progress in a number of important ways. Providing excellent and efficient service to our citizens and businesses has always been a priority for the District of West Vancouver. It has been the shared commitment within our community that has also lead to the creation of new Vision which espouses collaborative government. It has been our capacity to plan strategically and act in challenging times that has enabled the District to continue to generate efficiencies and to continually improve our service delivery. We entered the Strategic Planning process with high expectations and believe the work laid out in this document demonstrates we have the tools to meet that challenge. To move our organization from “good to great” means not simply continuing to do good work, but to clearly identify the community’s long term goals, commit to them, track their progress and be held accountable to successfully achieve them. Along with several other reports like it, the 2009 Annual Report documents the District’s operations and demonstrates how your tax dollars are being spent to deliver hundreds of programs and services to our residents, business, and visitors. Central to our efforts this past year was our adoption of the Balanced Score Card that accelerates Council’s Corporate Goals of improving service delivery to residents and businesses, strengthening the municipality’s financial sustainability, and developing a business plan and design for the realization of the Ambleside Village Center Strategy and redevelopment. Our Vision speaks of a community that inspires excellence and leads by example, but it also speaks of the vision we hold for ourselves as an organization. It is a Vision that commits our energy to more effective ways of engaging the community. We feel this can best be achieved through a focus on customer service, a more entrepreneurial culture and the genuine establishment of best practices. Primary to a best practice discipline was the creation of our strategic plan, a roadmap for the future, the creation of which was a key focus of the organizations work through 2009.

Grant McRadu, Chief Administrative Officer

Grant McRadu,Chief Administrative Officer


Management Team

Grant McRadu, Chief Administrative Officer

Brent Leigh, Deputy Chief Administrative Officer

Bob Sokol, Director of Planning, Lands & Permits

Terrence J. (TJ) Schmaltz, Director of Human Resources & Payroll Services

Jim Cook, Fire Chief

Raymond Fung, Director of Engineering & Transportation

Richard Laing, Director of Finance

Anne Mooi, Director of Parks & Community Services

Ann Goodhart, Chief Librarian

Peter Lepine, Chief Constable

Mark Chan, Manager of Corporate Initiatives

Sheila Scholes, Manager of Legislative Services/Municipal Clerk

In order to continue to progress as a community in a structured manner while retaining our quality of life, the District identified the need for a Strategic Plan supported by a Vision and Mission Statement. As 2009 opened, Council committed to a planning process that looked to engage the community about the future, then put a performance measurement in place to ensure the plan was delivered. As part of the Strategic Plan process, the Balanced Scorecard management tool was developed to measure our performance and allow the public to see the organization’s progress on key initiatives. The Balanced Scorecard provides unprecedented accountability and public transparency. The Balanced Scorecard brings forward the five Community Perspectives identified in the Mission Statement, and then asks what do we need to do as an organization, with our people, and financially to achieve the mission.

1. Community Perspective

(our Mission)

2. Organizational/

OperationalPerspective

3. People, Skills,

and Motivation Perspective

4.Financial

Perspective

1.1 Civic ResponsibilityFoster a sense of shared and individual responsibility for community well being, social unity, inclusion and respect for our full heritage.

1.2 EnvironmentProtect, restore, and defend our natural environment; legislate efforts to effect positive change.

1.3 Land Use & InfrastructureEncourage diversity inhousing, land use andinnovative infrastructurewithin our distinctneighbourhoods tomeet changing needs.

1.4 Community LifeEnrich community vitality,health, and understandingthrough integrating arts,learning, inter-culturalexperiences and physicalactivity into our daily lives

1.5 Economic StabilityMaximize the potential ofour economic base andservices, balancing theeffective, long-term use ofresources for current andfuture generations

2.1Inter-GovernmentRelations:Take an active role inregional and provincial issues

2.3 InfrastructureManagement:Develop and maintainDistrict assetsthroughout the lifecycle

2.4 Partnerships:Deliver plans & servicesthrough partnershipswhere appropriate

2.5 Resource Allocation:Evaluate servicedemand and deliverythen realign resources

2.6 Services:Elevate communitydebate around viablechoices

3.1 Collaboration:Advance crossdepartmentalcollaboration

3.2 Excellence:Attract the best andimplement strategies forgrowth & retention

3.3 Leadership:Increase community &staff capacity for leadership

3.4 Innovation:Emphasize bestpractices from privateand public sectors

4.1 Maximize Resources:Identify and evaluate alladditional revenuestreams

4.2 Optimize Financial Tools:Develop a sustainablefinancial framework forasset management

4.3 Measure Service Costs:Demonstrate value formoney in all our service

2.2 Sustainability:Integratesustainability acrossthe organization

Strategic Plan


Strategic Planning ModelThrough the Vision and Mission, Strategy Map, and Balanced Scorecard, the broadest aspirations of the community are brought through to specific and measurable outcomes. The following speaks to how this hierarchy of tools flow from one to another:

1. Vision and Mission: Providesthe guidance and over-arching goals.

2. Strategy Map (as shown on previouspage):Providesfourperspectives that ensure the organizationhasdevelopedthecapacitytocarryoutthegoalsofthecommunity.TheCommunityPerspectivedrawsdirectlyfromtheMission.Theotherperspectivesrepresentcorporateobjectivesintheorganizational,financial,andhumanresourcerealmsthatbuildthecapacitytofulfillthegoalsofthe community.

3. The Balanced Scorecard:takesthe18corporateobjectives,showninthestrategymap,andidentifiesstrategic initiatives and performance metrics for each. These metrics are aligned with the 2010 AnnualBudget&Three-yearFinancialPlan.

This document can be seen in its entirety at westvancouver.ca/strategicplanThe strategic initiatives of each department from the Balanced Scorecard have been incorporated throughout this document as 2010 goals.


LEGISLATIVE SERVICES • ARTS & CULTURE • PARTNERSHIPS • COMMUNICATIONS • SUSTAINABILITY • EMERGENCY PLANNING • 2010

The Division provides a wide range of services through a number of departments. Council and its Committees and Working Groups are supported, relationships with other levels of government are fostered, and legal services are provided. Cultural events and festivals are held, an art gallery and a museum operated, and the 2010 Olympic initiatives are connected. Community archives are managed and shared. Individual and corporate partnerships are developed and fostered. Environmental sustainability of our natural resources is ensured. Communications with residents is provided through written publications and a website. The future of our community is ensured through strategic planning and emergency planning.

Administration

A united mandate, set by Council, allowed the CAO to move the organization into a decisive leadership position through the year 2009. The goal was to transform a good organization to a great community service provider—an organization that is strategic, entrepreneurial, and cost effective while meeting West Vancouver’s high service standards. Those quality/value objectives that began in 2009 with the development of a community-based Strategic Plan lead the delivery of a zero-based budget for 2010.

West Vancouver provides a very diverse and broad range of quality services to our residents, from recreational services to water and sewer utilities, parks, urban planning, licences and permits, museums, art galleries, a cemetery, and the list goes on. Those services (or businesses) are organized into divisions and departments. This division leads and coordinates all of the other District divisions and departments to ensure that the District stays focussed and unified in achieving its overall goals within a framework that provides for social, financial, and environmental sustainability. That includes refining workplans, establishing priorities, and monitoring internal performance for all divisions. Administration also works very closely with Council to ensure that Council has the information and tools necessary to work with staff as efficiently as possible together to achieve Council’s directives and the public’s goals.

Grant McRadu,Chief Administrative Officer


2009 Results

• Worked with the very committed Strategic Planning Working Group completing the Strategic Plan including the District’s Vision, Mission, and Balanced Scorecard. These tools clearly identify the community’s long-term goals, commit to them, and track their progress to completion

• Aligned with the Value for Services Working Group for careful evaluation of service enhancements, the movement to user-pay (rather than tax-based) pricing, and the transition to market rates for District leased lands. This was seen as a first step in assisting the District to chart a sustainable operational and financial future for West Vancouver

• Organized and commenced planning for a community-based Olympic/Paralympic experience including the Torch Relay, 17 days of Community Centre Celebrations, and the Monster Exhibit Cultural Olympiad event held at the West Vancouver Museum

• Partnered with and supported the 2010 Leadership Team, residents, volunteers, the business community, and regional governments to assist in planning and creating the West Vancouver 2010 Olympic Celebration experience

2010 Strategic Initiatives Derived from the Balanced Scorecard

• Establish the Land Development Fund and determine the appropriate governance model to maximize community value of District lands

• Advance Council-approved Foreshore Protection Strategy and related pilot projects

• Complete and implement District Climate Action Plan

• Complete a review of the Environmental Strategy and prioritize outstanding initiatives

• Develop an Arts Facilities Master Strategy that will identify optimal use of all cultural facilities and programs

• Create for Council approval an Events Business Plan

• Carry out a successful 2010 Olympics and Paralympics experience for the community of West Vancouver

• Enhance relations with Squamish Nation and move both implementation of new legislative framework and Service Agreement ahead

• Develop new partnership opportunities where appropriate, such as partnering with the City of North Vancouver, the District of North Vancouver, and School District #45

• Strengthen partnership and service agreements to empower community leadership and governance

• Develop capacity to execute emergency planning effectively, including capital and operating requirements

• Establish Performance Measurements that focus on performance and integration that finds the right balance between challenge and achievability

• Identify and institute (re-institute) community recognition awards program (across multiple disciplines) via the Community Awards Committee

EMPLOYEE RELATIONS • PAYROLL • RECRUITMENT • TRAINING • HEALTH & SAFETY •BENEFITS & COMPENSATION

Human Resources & Payroll Services provide employee and labour relations, recruitment, corporate training, compensation, health & safety, and payroll and benefits administration services to all departments.

Human Resources & Payroll Services

2009 has been a year of transition and change for the District of West Vancouver’s Human Resources & Payroll Services team. Over the course of the year, four human resource professionals were added to the division to fill key vacancies. This past year also represented an opportunity for the division to take stock, plan for the future, and lay the foundation for an ambitious and exciting work plan in 2010.

This past year was also marked by two key accomplishments with the completion of collective bargaining with the District’s firefighters and the implementation of a leadership development program. As 2009 represented a year of transition, capacity building, and strategic planning, the Human Resources & Payroll team is looking forward to implementing a variety of exciting initiatives, including a new management secondment training program and electronic pay slips.

Terrence J. (TJ) Schmaltz, Director of Human Resources & Payroll Services


2009 Results

• Completed negotiations with District firefighters and implemented a new collective agreement

• Implemented a Leadership Development Program in collaboration with three North Shore partners

• Began the implementation of new District-wide disability case management and safety programs

• Completed the initial stages of a divisional strategic plan and participated in the development of the District-wide Balanced Scorecard

• Hired four human resource professionals to fill current key vacancies


• Implement electronic pay slips for employees in all departments

• Implement a new management secondment training program

• Implement an enhanced performance management system for all employees

• Implement the division’s 2010 strategic work plan

• Conduct a review of exempt compensation and benefits

• Assist in the recruitment of two key executive roles (Chief Librarian and Director of Finance)

• Fill the remaining vacancy in the Human Resources division to bring the team to full strength

• Complete preparations and begin negotiations with the District’s police and firefighters unions

• Begin conducting a review of District Human Resources & Payroll policies

• Organize a successful Long Service recognition event

BUDGETING • F INANCIAL REPORTING • TECHNOLOGY • RISK MANAGEMENT

Financial Services carries out statutory responsibilities relating to receipt and expenditure of funds, investments, asset management, financial reporting, annual operating and capital budgets, and the setting of tax and utility rates. Information Technology Services manages computer equipment and applications, telephone systems, a wide-area network linking all municipal facilities, and support services for users. Purchasing and Risk Management are responsible for corporate-wide contracting, procurement, and risk management.

Financial Services

During 2009, Finance continued to streamline business processes in most areas of the District’s operations—including utility billing systems, permits and licences, supplier payments, purchasing, and document handling. This included upgrades to all of our core software applications and related staff training. The two-year project to inventory and value all of the District’s tangible capital assets was completed, as well as establishing amortization policies and schedules as part of the new Public Sector Accounting Board financial reporting requirements. A final highlight was our support to the work of the Value For Services Working Group, which undertook a public information exercise on District finances and surveyed residents for input into the 2010 Annual Budget.

Richard Laing, Director of Financial Services


2009 Results

• Supported the Value for Services Working Group and coordinated the development of the citizen’s survey which provided the District with directional feedback to the 2010 Budget process and a contact list of citizens who wish to be involved in future community engagement initiatives

• Completed the inventory of the District’s capital assets for implementation of the new accounting rules for Tangible Capital Assets

• Revised financial statements to meet the new Public Sector Accounting Standards reporting requirements—added Segmented Reporting to 2008 Annual Report

• Enhanced Quarterly Financial Reviews to include capital and risk management

• Re-aligned and trained staffing resources to adapt to increased service levels throughout Finance

• Enhanced the 2009 Proposed Budget Book to include a number of the Government Finance Offices Association (GFOA) required best practices

• Continued participation in tri-municipal emergency planning exercises and staff training and supported North Shore Emergency Management Office with systems equipment and network requirements in conjunction with City and District of North Vancouver

• Renegotiated a number of agreements and provided purchasing and risk management support for various capital and operating projects including completing agreements for fuel, valve and hydrant supply on behalf of Lower Mainland Purchasing groups

• Upgraded, enhanced and implemented various information technology systems, software, and tools, including new online reservation system at Gleneagles Golf Course. Also supported both the North Shore Recreation Commission and West Vancouver School District in report creation and system setup


• Develop a framework for a comprehensive review of the District’s approach to fees and charges; in particular a long-term strategy to phase in optimal recovery rates and rationalize subsidies where appropriate

• Continue to develop Financial Coordinator capability within all divisions and recruit position as budgeted for in 2010

• Continue to redesign the annual budget process to align with the initiatives of the Strategic Plan e.g. ensure consistency with long term capital plan, refine budget model to capture three-year operating detail, and integrate annual cycle of budgeting and interim reporting through to year end financial statements

• Continue to participate in the development and implementation of a Corporate Information Management Plan

• Participate in the recruitment of the Director of Finance position and the restructuring of the Financial Services Division

• Continue to develop the Budget Book based on best practices with the goal of winning the GFOA Award for the 2011 budget document

• Define and develop the Asset Management function and recruit an Asset Manager

• Finalize the divisional Emergency Plan and continue to participate in Tri-Municipal exercises


PARKS • RECREATION • SOCIAL SERVICES

The Community Services Department “builds community” through the provision of exceptional services based on the needs of residents. Services range from support and outreach to specialized leisure programs. Provision of a broad continuum of social and recreation services ensures access and inclusion for residents of all ages and abilities.

The Parks Department manages and maintains more than 110 parks (415 hectares), extensive public waterfront, and more than 100 km of urban paths and wilderness trails which represent a variety of recreational opportunities for our community. By overseeing programs and services that keep parks safe, accessible, and attractive, we protect the natural resources that are important to achieving long-term environmental sustainability in our community.

Parks & Community Services

Initiatives over the past year continued to focus on building and strengthening community engagement opportunities through Community Centre governance, partnerships, provision of social services, child care, and sport field use. This year has been exciting for the community with the completion of several projects including major restoration of the Gleneagles Golf Clubhouse and opening of new facilities: West Vancouver Community Centre, Gordon House Child Care facility, and the Whyte Lake Trail system. Satisfaction with our parks, community services, and facilities continued at a high level.

Anne Mooi, Director of Parks & Community Services



• Complete construction of child care facilities and implement Civic Site Child & Family Hub

• Develop a Parks Master Plan

• Complete Sports Field Master Plan

• Obtain legal commitment from community sports groups for financial contribution towards Ambleside Park Artificial Turf Project, including clubhouse and warm-up field

• Begin construction of new artificial turf field in Ambleside

• Develop a long-term strategy with Seniors’ Activity Centre Advisory Board, staff, and others that identifies demographic trends and supports seniors’ membership and participation at the Seniors’ Activity Centre

• Complete the breezeway between the Seniors’ Centre and the Community Centre

• Plan and implement successful celebration program including Atrium Activation at the Community Centre and Torch Relay and provide programming for students during the Olympic Games period

• Complete Joint Operating Agreement Review with West Vancouver Community Centres Services Society and communicate benefits of governance model to the community

• Begin the evaluation and review of the 2002 Cemetery Master Plan

• Open the newly renovated Gleneagles Clubhouse and new Larson Station Restaurant

2009 Results

• Together with the West Vancouver Community Centres Services Society (WVCCSS) opened the new Community Centre in March with a new governance model, and a full range of services, including Vancouver Coastal Health, Bean Around the World Café, Complement Health, West Vancouver Youth Band, and West Vancouver Family Place

• Implemented LEED program facility maintenance at the new Community Centre and started utilizing the geothermal potential of the building

• Modified features in John Lawson Park to optimize access for people with disabilities, including improved waterfront path access and new automatic washroom doors

• Increased social, physical, and cultural accessibility and inclusion through the ‘Measuring-Up Initiative’. An updated Access and Inclusion Plan is recognized across the Province as a ‘Best Practice’

• Increased opportunities for frail isolated seniors through a volunteer-based seniors outreach pilot program funded by the Union of British Columbia Municipalities (UBCM)

• With the Child Care Services Working Group, brought forward a new child care zoning bylaw and regulatory framework to better meet community needs, which was adopted by Council

• Opened the Gordon House Child Care Facility, generously funded by a grant from the Ministry of Children and Family Development

• Successfully obtained a Building Canada Infrastructure Program grant for the Ambleside Artificial Turf Project

• Completed the Whyte Lake Trail system, funded by Ministry of Transportation, Sea to Sky Highway Project, Kiewit Construction, and built by District Parks staff

• Developed new programs and services at Gleneagles Community Centre by working with Gleneagles Elementary School and PAC, Horseshoe Bay Business Association, the Western Residents Association, and other community members

• Completed restoration of Gleneagles Clubhouse

• Implemented online reservation system at the Gleneagles Golf Course


EDUCATION • PREVENTION • SAFETY • EMERGENCY RESPONSE

West Vancouver Fire & Rescue provides comprehensive fire prevention, fire suppression, and medical/rescue services. This is achieved through highly trained and equipped personnel based out of four fire stations strategically located throughout the community. Fire prevention services include inspection, regulatory enforcement of the Fire Code, Building Code, municipal bylaws, and public education programs.

Fire & Rescue

In 2009, Fire and Rescue Services focused on the final preparations for the 2010 Olympics and the protection plan for the Cypress Venue. Several members worked on all aspects of fire safety and response planning, including the provision of fire and safety recommendations on the design of permanent and temporary structures on the mountain site. A key initiative included the appointment of a new Training Chief who was tasked with the redevelopment of internal training programs to ensure that firefighters have the necessary skills to deliver a diverse range of services to the community. Fire prevention and education staff were very busy during the past year performing building inspections and delivering fire and life safety information to children and adults. Fire & Rescue staff continue to work toward ensuring that West Vancouver is a fire safe community.

Jim Cook, Fire Chief


2009 Results

• Substantial completion of the renovation of Fire Station #4 converting it to a co-ed facility through the construction of a new washroom and shower facility

• Completed Asset Management Program for all applicable capital equipment, including new acquisitions

• Created Fire & Rescue web page, revised and updated content, including Fuel Storage Tank Program and fire prevention information

• Implemented new system for permits and fees, communicated changes to the community

• Enhanced computer-aided dispatching system for improved emergency coverage during incidents based on historical data, on a North Shore-wide basis

• Completed several training programs, including an Officer’s Program in partnership with other North Shore Fire Departments, Confined Space Rescue, Structural Collapse, Auto Extrication, Chemical, Biological, Radiological and Nuclear Hazmat, Hazmat Awareness, First Responder and Automatic External Defibrillator Recertification, Swift Water Rescue, and Emergency Scene Management

• Continued planning for 2010 Olympics in conjunction with VANOC Fire Advisory Board and venue management, expedited motor vehicle response to Sea-to-Sky Highway, security integration and overlay sub-committees

• Negotiated a service agreement for Motor Vehicle Incident Response on Sea to Sky Highway for duration of 2010 Olympic and Paralympics Games

• Developed a provisional staffing plan for 2010 Olympic Games and finalized service level agreement with VANOC and Province


• Complete assessment of Dispatch services

• Complete analysis of EComm Wide Area Radio

• Investigate a plan for relocation of Fire Hall #1 (Ambleside)

• Implement Fire Inspection Program for company officers

• Develop comprehensive succession plan for exempt positions, update training program requirements for staff positions, and establish programs that provide mentoring opportunities for officers

• Revise Fire Protection Bylaw to include new fees and charges and recommendations of the Community Wildfire Protection Plan

• Continue to pursue a long-term service agreement to provide road rescue service for the area north of Sunset Beach

• Complete renewal of the Collective Bargaining Agreement

• Review and update benchmarking utilizing best practices

• Develop a work plan outlining communication tools and strategies to support revenue opportunities

• Continue to implement approved recommendations in the Master Planning document and in the Fire Service Working Group Report to Council. Utilize the Master Plan and Working Group Report in the development of the 2010-2012 Strategic Plan

SECURITY • PROTECTION • PREVENTION • ENFORCEMENT

The Police Department is governed by, and reports to the West Vancouver Police Board. Under the command of the Chief Constable, West Vancouver Police are committed to uphold the law, protect people and property, work with community partners to enhance the quality of life, and keep West Vancouver safe.

Police

The past year has been one of change, challenges, and continuous improvement for the West Vancouver Police Department (WVPD). Our uniformed and non-uniformed members and civilian volunteers have been actively engaged in promoting a renewed sense of professionalism, pride, and effectiveness within the department. West Vancouver became the first Canadian community to bring ePolicing technology to its citizens. This powerful web technology puts information on crime trends directly into the hands of the WVPD’s most important stakeholders, its citizens. From the WVPD website, citizens can sign up to receive up-to-date bulletins on the areas that interest them. Interactive crime maps provide current information on what is happening within our community, showing citizens what is happening in their neighbourhoods, as well as what the WVPD is doing to proactively reduce crime within the municipality. Crime alerts with interactive crime maps and our latest news releases can be easily accessed by Block Watch, Business Watch, Crime-Free Multi-Housing organizations, and interested members of the public.

Peter Lepine, Chief Constable


2009 Results

• Crime prevention programs such as Block Watch, Business Watch and Speed Watch were implemented successfully. Four new apartment buildings were brought into the Crime-Free Multi-Housing program and 17 new streets became members of the Block Watch community

• “Reaching Out”, a program committed to supporting high quality youth-based initiatives that address key areas of concern related to the safety and well-being of our youth and the reduction of crime within the community, was successfully launched in participation with our public and private schools

• The implementation of our COMPSTAT program continued to modernize our capabilities to collect, analyze and map crime statistics and other essential information required to initiate targeted crime reduction strategies

• The department continued to support other major crime reduction strategies throughout the Lower Mainland by participating in various integrated policing organizations—such as the Olympics Integrated Security Unit—that have positive impact on our community

• The department has very successfully continued to recruit new volunteers whose collective efforts have enabled the department to deliver on our policing priorities centred on: traffic safety, youth engagement, enhancing our policing visibility, and enhancing our communications by helping us to deliver our message

• Recruiting and training continued successfully throughout the year based on concerted efforts to find promising candidates to join the ranks of the department and our established positions are almost completely full

• Continued to develop “best practices” business systems to better manage all aspects of the department, including budget development and financial management, fleet and asset management, human resources processes, policy and procedure development, professional standards processes, and records management


• Develop a new Three-Year Strategic Plan for the Department

• Work with the District to integrate policing performance measures with the Balance Scorecard process

• Improve upon the standards of measurement, analysis, and accountability within our department

• Continue to develop the effectiveness of crime mapping and database generation to target crime

• Enhance and continue to implement the department’s youth plan as described in our “Reaching Out” report

• Advance ePolicing to bring community policing to the internet and empower residents to work with the department in keeping our community safe and as crime-free as possible by providing easy access to newsletters, crime trends and activity

ROADS • TRANSIT • FLEET AND EQUIPMENT • ENGINEERING SERVICES •GEOGRAPHIC INFORMATION SYSTEMS (GIS)

Engineering ensures the safe and efficient movement of people, goods, and services within West Vancouver including: operation and maintenance of roads and transportation infrastructure, maintenance and purchasing of District vehicles and equipment, administrative support and technical expertise for municipal infrastructure projects, GIS and mapping services for both the Corporation and the public, and operation of the Blue Bus Transit service.

Engineering & Transportation

Engineering & Transportation completed several significant projects in 2009, including the replacement of the Almondel Bridge and the construction of the first section of the Spirit Trail Greenway Project bordering Park Royal. Staff also continued to work on Road and Bridge Infrastructure Capital Programs.

Additionally, two Working Groups were created in 2009: one for Spirit Trail Consultation and the other for development of the Strategic Transportation Plan. The Spirit Trail Working Group developed a consultation strategy for the District toward establishing the alignment for the future Spirit Trail through existing neighbourhoods. The Strategic Transportation Plan Working Group engaged the community in the development of a safe and effective transportation network, which favours multi-modal transportation over reliance on the single occupancy vehicle.



2009 Results

• Completed Almondel Bridge Construction

• Substantially completed the first section of Spirit Trail Greenway from Park Royal to Ambleside Park

• Completed the Spirit Trail Consultation Strategy with the Spirit Trail Working Group

• Initiated a Working Group to develop a comprehensive Strategic Transportation Plan

• Completed the 2009 Traffic Calming and Pedestrian Safety Program including:

~ Cypress Park School – Pedestrian Safety Upgrades

~ Sidewalk/Driveway Improvements – 21st Street and Inglewood Avenue

~ Traffic Signal at 24th Street and Marine Drive

• Completed the 2009 Road Capital Plan Program and Annual Bridge Capital Program

• Participated in the development of the 2010 Olympic and Paralympic Transportation Plan with VANOC and other partners


• Implement 2010 Olympic Transportation Plan and local plan for Torch Relay and Celebration Site

• Complete the segment of the Spirit Trail through Ambleside Park to 13th Street

• Complete Strategic Transportation Plan for Council’s consideration

• Initiate construction of Spirit Trail Greenway from Park Royal to the municipal border on Welch Road through Squamish Nation lands

• Coordinate municipal interests for the Ministry of Transportation and Infrastructure’s Blue Bridge Replacement Project across the Capilano River and TransLink’s Bus Priority Lane on Marine Drive from Pound Road to Taylor Way

• Complete a comprehensive Infrastructure Management Plan for the District’s road and transportation network

• Complete final phase of traffic calming and streetscape improvements on Gordon Avenue adjacent to the Civic Site

• Complete the 2010 Road Capital Plan Program and Annual Bridge Capital Program

• Consider proprietary transit shelter service with a third party

• Enhance Blue Bus service by increasing frequency to Horseshoe Bay, and implementing new community shuttles

• Develop an interactive Capital Projects E-Map to better inform the public regarding construction projects through the municipality

DRINKING WATER • SANITARY SEWER • STORM DRAINAGE • SOLID WASTE

Engineering’s Water Utility provides a safe and continuous supply of drinking water to residents by providing and maintaining mains, reservoirs, pump stations, treatment, and purchasing bulk water from Metro Vancouver. This includes the operation of the District’s new state-of-the-art Eagle Lake Membrane Filtration Facility. The Sewer Utility provides sanitary sewer and storm drainage services by providing and maintaining pipes, manholes, culverts, and sewage lift stations. In addition, Engineering Utilities are responsible for the collection and processing of household garbage, yard trimmings, and recyclables.

Engineering Utility Funds

A number of significant projects were completed in 2009, including the construction of the Bonnymuir and Craigmohr Reservoirs. In 2009, the District was awarded over $3 million in federal and provincial grants towards two engineering infrastructure projects, namely a new water treatment plant at Montizambert Creek and the rehabilitation of sanitary sewers in Ambleside. As well, staff completed strategic infrastructure renewal studies for the Water, Sewer, and Storm Drainage systems. These studies form part of Engineering’s overall infrastructure management initiatives.

Also in 2009, staff awarded new five-year contracts for recycling services jointly with the other two North Shore municipalities and for garbage and yard trimmings collection for the District. In partnership with Metro Vancouver staff, the District initiated the Food Scrap Collection Demonstration Project to over 500 homes in Caulfeild to determine the feasibility of curbside pickup of kitchen scraps co-mingled with yard trimmings.



2009 Results

• Completed reconstruction of Bonnymuir and Craigmohr Reservoirs

• Received federal/provincial infrastructure grants for construction of Montizambert Creek Water Treatment Facility and Ambleside Sewer Rehabilitation Project

• Completed Infrastructure Management Plans for the water, sanitary sewer, and drainage systems to facilitate long-range capital planning and identify gaps in the current condition information of these systems

• Completed regular capital renewal programs for water and sewer infrastructure systems, including SCADA and pump station upgrades

• Awarded new five-year contracts for North Shore Recycling Services and West Vancouver garbage and yard trimmings collection services

• Implemented the Food Scrap Collection Demonstration Project in partnership with Metro Vancouver for the curbside collection of residential food scraps from over 500 homes in Caulfeild


• Begin design and construction of the Montizambert Creek Water Treatment Facility and the Ambleside Sewer Rehabilitation Project

• Continue efforts to benchmark the performance of the Water and Sewer Utilities against municipalities across Canada

• Complete annual sewer condition assessment program and incorporate findings into the Sewer Utility’s ongoing Infrastructure Management Plan

• Participate in development of Metro Vancouver’s Liquid Waste Management Plan and Solid Waste Management Plan and ratify locally

• Participate in Metro Vancouver’s North Shore Integrated Resource Recovery Study and Capilano Water Use Plan

• Complete regular capital programs in renewal of water and sewer infrastructure systems, including SCADA and pump station upgrades

• Continue with the current Food Scrap Collection Demonstration Project and prepare options to Council for the possible implementation of District-wide curbside food scrap collection in 2011

• Partner with School District 45 to present the Climate Change Showdown outreach program and the A2Z of H2O water conservation play

• Plan and implement a public consultation process to review the Utilities Infrastructure Management Plan

DEVELOPMENT • COMMUNITY PLANNING • LANDS • PERMITS • BYLAW & LICENSING SERVICES

The Planning Department works with the community and Council to develop long-range plans, policies, and regulations which support the environmental, social, and economic goals of the community. The Department processes development applications, provides engineering review of development applications and building permits, and ensures implementation of environmental protection measures for building permits. The Permits and Inspections Department reviews and issues permits and carries out inspections relating to building, plumbing, electrical, and signage. The Lands Department handles municipal property transactions, licenses and leases, and administers the foreshore. The Bylaw & Licensing Services Department ensures compliance with municipal bylaws and licensing requirements.

Planning, Lands, & Permits

The Planning Department focussed its efforts on implementation of the Community Dialogue on Neighbourhood Character and Housing Working Group Report with the adoption of the Secondary Suites Bylaws and the initiation of the Housing Pilot Program. The processing of land development applications proceeded, including Rodgers Creek subarea approvals and numerous development permits and development variance permits. The former Horseshoe Bay fire hall site and surplus municipal land on Ottaburn Road were rezoned, subdivided, and put on the market. A developer was chosen for the former Wetmore Motors site. The Permits Department issued over 2,000 electrical, plumbing and building permits, and conducted over 9,500 inspections. Permit turn around times in all areas were reduced through efficiencies and a general reduction in permit activity.

Bob Sokol, Director Planning, Lands, & Permits


2009 Results

• Ensured that a sustainability perspective and opportunities are incorporated in all projects

• Began implementing the recommendations of the Community Dialogue on Housing and Neighbourhood Character Working Group

• Secondary Suites Bylaw approved

• Initiated Housing Pilot Project Program and selected two projects

• Promoted the development of Ambleside consistent with the adopted Ambleside Strategy

• Continued to process land development applications and approvals and reduce permit review times

• Supported heritage conservation through the Heritage Achievement Awards and a Heritage Incentive Program

• Commenced Lower Caulfeild Heritage Conservation Area Review

• A developer was selected for the Wetmore Property

• Created green building requirements for construction on surplus municipal lands

• Completed rezoning and subdivision of Horseshoe Bay fire hall site

• Completed rezoning and subdivision of Ottaburn lots

• Began review of “open” building permit files

• Streamlined building permit process and reduced review times

• Updated department brochures

• Enhanced erosion and sediment control procedures in new development

• Issued 2,000 building, plumbing and electrical permits, and completed over 9,500 inspections


• Complete and implement recommendations of Lower Caulfeild Heritage Conservation Area Review and present bylaws for Council approval

• Develop strategy for renewal and renegotiation of the Foreshore Head Lease (between the District and the Province)

• Amend Official Community Plan for Bill 27 compliance

• Implement Secondary Suites Program

• Present technical rewrite of the Zoning Bylaw for Council approval

• Implement Housing Pilot Program as approved by Council

• Recommend to Council revisions to the Zoning Bylaw to be consistent with Community Dialogue on Neighbourhood Character and Housing

• Determine the model for delivering the Municipal Precinct and 1300 Block redevelopment project

• Initiate public consultation on design and business plan for the Municipal Precinct and the 1300 Block of Marine Drive

• Ensure integration of waterfront from 13th to 19th Streets with the Ambleside Town Centre Strategy

• Implement and process applications for Evelyn Drive, Rodgers Creek, Sewell’s Marina, Safeway site, and Wetmore developments (timing dependant upon applicants)

• Develop a policy for District lands and facilities to ensure that lease rates balance current market rates and community benefits

• Prepare several surplus municipal properties for sale

INFORMATION • L ITERATURE • MUSIC • ART

The West Vancouver Memorial Library strives to serve as a cornerstone of the community by providing exceptional library service. Our collection is developed to offer a broad range of materials and information resources to the community. Library staff are dedicated to patron service and diverse, high quality programming for children, adults and seniors. The library showcases local art and provides a cultural and intellectual meeting place for the community.

Mission Statement: The Library is an open, free and welcoming place. We connect people with ideas, information and cultures of the world. We enrich lives and are relevant and accessible to all.

Library

The Library spent much of 2009 completing the transition to our new check out system and reorganizing the layout of library to make room for the Community Computing Centre and our new meeting room, the Welsh Hall.

Many of the books and materials were shifted including magazines and newspapers which moved to a larger reading room on the main floor where they are attracting many new readers. A new reading room complete with fireplace and chess table was created to house our European language and Persian language collections. The Asian language collection was also relocated to a space with comfortable chairs and room to grow.

The new Community Computing Centre brings together the majority of our public Internet stations to one central location. This new location is complete with an information desk where knowledgeable staff are available to help patrons with computer related inquiries. We were without a meeting room for most of the year due to the construction but still drew over 18,000 people to programs and classes. Circulation of materials was up with DVDs coming second only to books in popularity.

Ann Goodhart, Director Library


2009 Results

• Completed the transition to our new RFID system for checking out materials and handling returns

• Opened the Community Computing Centre

• Re-organized the book collection to create a new larger reading room for magazines and newspapers

• Moved the books in other languages to new larger spaces

• Completed the design phase and began construction of the new meeting room, the Welsh Hall

• Participated in development of the new Strategic Plan for the District

• Worked cooperatively with the School District and the Province on literacy initiatives such as Welcome to Kindergarten

• Registered our intent to apply for LEED certification for an Existing Building with the Canada Green Building Council and began documentation period

• Launched our Olympic Library Card and began planning for programs and events during the games


• Develop the Library’s next strategic plan

• Complete the search process and hiring of new Director of Library Services

• Participate actively in the implementation of InterLINK Strategic Plan and provincial library initiatives

VOLUNTEERS • CORPORATE SPONSORS & PARTNERS • COMMUNITY PARTNERS

Community Partners

Volunteers The District engages volunteers in a multitude of ways, from “on the ground” at events to “around the table” in working groups and committees. Volunteers voices are heard and reflected in programs, planning, and policy development. The District takes great pride in exercising the principles of community development, cultural collaboration, and civic commitment to ensure we build a creative and caring city that we can all celebrate. Corporate Sponsors and Partners Alternative revenue that comes our way through corporate sponsors and partners allows the District to provide projects, services, and programs that extend our service and meet the needs of residents, without additional tax burden. Programs such as the Harmony Arts Festival and the Seniors Shuttle Bus are two examples of strong sponsor lead initiatives that deliver immense value to West Vancouverites.

Community Partners

Strong partnerships and effective collaboration with non-profit organizations, local governance bodies, and other associations ensures effective and efficient service delivery and alignment to the publicly stated goals of the District.

There is no better example of our partnership culture than the number of individuals, groups, and associations that came together to plan the 2010 Olympic experience for our residents and visitors.


32 — 2009 Annual Report

2009 Annual Financial Report



REPORT FROM THE DIRECTOR OF FINANCE

June 11, 2010Mayor P. Goldsmith-Jones and Members of CouncilDistrict of West Vancouver

Your Worship and Members of Council:

I am pleased to present the Annual Financial Report of the District of West Vancouver for the year ended December 31, 2009, as required by Sections 98 and 167 of the Community Charter.

INTRODUCTION

This report includes financial statements for the year ended December 31, 2009 (with 2008 amounts for comparison), and the Auditor’s Report thereon.

The preparation and presentation of the annual financial statements and related information in the 2009Annual Report are the responsibility of the Financial Services Division. These financial statements, which in part are based on informed judgments and estimates, have been prepared in accordance with Canadian generally accepted accounting principles for local governments and have been applied on a basis consistent with that of the preceding year.

The District maintains a system of internal accounting controls designed to safeguard the assets of the corporation and to provide reliable financial information.

The District’s independent auditors, BDO Dunwoody LLP, are engaged to express an opinion as to whether these financial statements present fairly the District of West Vancouver’s financial position, financial activities and cash flows in accordance with Canadian generally accepted accounting principles. BDO Dunwoody LLP has been given unrestricted access to all financial and other records of the District. Their opinion, which follows, is based on procedures they consider sufficient to support such an opinion in accordance with Canadian generally accepted auditing standards.

PROGRESS REPORTING

The District also has in place a financial reporting cycle of quarterly interim operating reviews that allow Council and management to track financial results throughout the year and to identify issues and challenges at an early stage so that alternative corrective actions may be taken prior to year end. The Mid-Year and Year-End Operating Reviews, in particular, track progress on work programs and other accomplishments, analyze bottom-line variances from budget, and report selected activity indicators by Division.

EVOLVING REPORTING STANDARDS

Financial reporting standards, as prescribed by the Public Sector Accounting Board (PSAB) of the Canadian Institute of Chartered Accountants, continue to evolve and have culminated in a new reporting model for2009. Some of the significant reporting changes are as follows:

� Segmented disclosure, reporting revenues and expenditures by individual service function areas, commenced in 2008. West Vancouver had already supported this style of disclosure in many of our internal budget and interim reporting documents.


� PSAB Section 3150, involving capitalization and amortization of tangible capital assets, required full compliance by 2009. The financial statements included herein fully comply with that onerous requirement.

� Additional future accounting issues – currently under review but not sufficiently advanced to anticipate impacts - will deal with government transfers and financial instruments.

� A “Statement of Recommended Principles” proposes best practices for the evolving application ofpublic performance reporting. The principles are very high level, and there is no specific guidance on which performance indicators should be tracked; as a result individual municipalities continue to research and evolve approaches that work for them.

REPORTING AWARD

West Vancouver reporting standards, reflecting PSAB and other legislative requirements, and best practices generally, resulted in our 2008 Annual Report receiving the “Canadian Award for Financial Reporting” from the Government Finance Officers Association of the United States and Canada. This is the fourth year we have received this award, and we anticipate that our 2009 Annual Report will continue to qualify.

2009 FINANCIAL REPORTING

As noted above, financial reporting requirements have changed significantly from prior years – mainly in the treatment of tangible capital assets. Financial reporting in prior years, and the format of the 2009 budget, treated expenditures for tangible capital assets as expenses in the year the expenditure was made. For 2009, after a comprehensive two year project to inventory and value all tangible capital assets owned by the District, the reporting treatment reflects expenditures for new capital assets as an increase in tangible capital assets on the Statement of Financial Position – and the Statement of Operations reflects a charge for the orderly amortization of District infrastructure over its estimated useful life.

A further implication of this change in accounting treatment is that third party revenues to fund capital expenditures remain as operating revenues notwithstanding that the expenditures are no longer operating expenses.

Financial planning, budgeting, and rate setting in future will require adjustments to the structure and format of the models that have traditionally been used in Local Government, in order that year end reporting does not produce results that cannot align with what those models are intended to achieve.

The positive result will be a more focused concern with the deterioration in municipal infrastructure as measured by annual amortization charges, and the extent to which that deterioration is recovered through our various rate structures (property taxation, water user fees, sewer user fees, etc.).

2009 CONSOLIDATED FINANCIAL STATEMENTS

On a consolidated basis, total liabilities exceeded financial assets by $16.3 million at December 31, 2009. Financial assets by definition excludes the large balance attributable to tangible capital assets. The increase in net debt of $8 million over 2008 results mainly from capital expenditures in excess of current amortization charges ($3.3 million) , and the Wetmore lands ($5.7 million) being reclassified from financial assets to tangible capital assets as a result of the recent long-term lease proposal.

The overall net debt position is a result of the large capital renewal program of the past several years and the reserve fund expenditures that accompanied it.

Fund balances (consisting of unappropriated surplus and reserve fund balances) decreased slightly during 2009 from $26.9 million to $26.7 million.


Consolidated operations for 2009 resulted in a deficit of $111,530.Financial statements of the individual Funds (General, Water, Sewer, and Cemetery) have been made available separately. Comments on the financial results of each of those Funds follow.

GENERAL FUND HIGHLIGHTS

The General Fund accounts for the general operations of the District - those services funded in whole or in part by property taxation. Spending authority and control are provided by the adopted Annual Budget.

On a comparison to budget basis, the General Fund had a surplus for the year of $340,600. Converting to a PSAB basis whereby capital expenditures are eliminated and amortization expense is recorded, the surplus for the year was just under $5.5 million. Accumulated surplus was virtually unchanged at $240,259.

Net financial assets decreased from $9 million to $2.3 million during the year, accounted for largely by the reclassification of the Wetmore lands referred to above. Again, this excludes the large balance attributable to tangible capital assets.

WATER UTILITY FUND HIGHLIGHTS

The Water Fund accounts for the provision of potable water to all residents, on a user pay basis. Since 2007 water has been fully metered and billed quarterly to residents based on actual consumption. Water is purchased from the GVRD, and also provided from our own source at Eagle Lake, and delivered through the District’s distribution system.

On a comparison to budget basis, the Water Fund had a deficit for the year of $96,523. Converting to a PSAB basis whereby capital expenditures are eliminated and amortization expense is recorded, the deficit for the year was almost $3.3 million. This is consistent with recent studies on the condition of water infrastructure, and the need over the next number of years to ramp up the funding for eventual replacements through increases to the user rate. Accumulated surplus decreased during the year from 2.5 million to $2.4 million.

The excess of liabilities over financial assets increased from $19.3 million in 2008 to $20.8 million at the end of 2009, accounted for by $1.4 million of capital expenditures temporarily financed by working capital.

MFA long-term debt in the Fund has increased to $10.8 million as a result of new issues relating to the universal metering program and expenditures under the Eagle Lake Development Plan. Accumulated and ongoing expenditures under that Plan temporarily internally financed in an amount of $12.3 million remain to be drawn down from MFA. The debt service on all these amounts has been accounted for within the current user rate structure.

SEWER UTILITY FUND HIGHLIGHTS

The Sewer Fund operates the sewage collection and treatment system on a user pay basis. Sewage enters the District’s collection system, and is pumped to GVRD facilities for treatment.

On a comparison to budget basis, the Water Fund had a surplus for the year of $251,534. Converting to a PSAB basis whereby capital expenditures are eliminated and amortization expense is recorded, the deficit for the year was just over $2.6 million. This is consistent with recent studies on the condition of sewerinfrastructure, and the need over the next number of years to ramp up the funding for eventual replacements through increases to the user rate. Accumulated surplus increased during the year from$194,966 to $446,500.


Net financial assets (the excess of financial assets over liabilities) increased from $230,688 in 2008 to $484,516 at the end of 2009. The increase is entirely attributable to the budget-basis surplus for the year.

CEMETERY FUND HIGHLIGHTS

The Cemetery Fund operates Capilano View Cemetery. Cemetery fees are established at rates sufficient to cover all operating costs, plus provide for the long-term development costs to expand the cemetery.

Cemetery fees also include a provision for contribution to a “Cemetery Care Trust”, a form of perpetual care fund wherein the interest earnings of the trust are available to offset operating costs of the cemetery. The balance of the trust was over $4 million at December 31, 2009, after transfer to operations of $258 thousandin interest earnings during the year.

On a comparison to budget basis, the Cemetery Fund had a deficit for the year of $44,256. Converting to a PSAB basis whereby capital expenditures are eliminated and amortization expense is recorded, there was a surplus for the year of $305,650. The Cemetery Development Fund decreased during the year from $1,707,163 to $1,662,637, accounted for almost entirely by the budget-basis deficit; net financial assets decreased similarly.

OTHER ISSUES

Reserve fund levelsA prolonged period of ongoing high levels of investment in recreational facilities has just come to an end. During that period, as a result of the pay-as you-go policy applied to those projects, reserve balances decreased significantly.Certain land sale transactions that were anticipated to provide proceeds to the Endowment Fund did not occur, and thus some capital expenditures from that fund were required to be made on an internal advancebasis. Completion of the proposed Wetmore long-term lease will enable return of the borrowed amounts,and reinstatement of the threshold value. Going forward into 2010 and beyond, capital planning especially if on a significant pay-as-you-go basis, will require reconsideration of the threshold restrictions attached to the Endowment Fund.Development Cost Charges, while not truly reserve funds, nevertheless comprise an important source of capital funding within the categories for which they are collected. DCC fund balances have increased slightly, to $21.5 million at the end of 2009. The available balances are constrained - by restrictions imposed throughlegislation requiring funds to be spent only for the purposes that they were collected.

Long term borrowings West Vancouver has historically taken a conservative approach to debt, borrowing mainly for revitalization projects in Ambleside and Dundarave, and for infrastructure improvements in the water utility. The revitalization projects involved cost recovery from benefiting business properties, and as of 2009 were essentially paid out. The water utility infrastructure borrowings continue to be serviced from the water user rate. Thus there has been no general tax supported debt in the District.Currently, in order to capture the value relating to our own water source and to implement an innovative partnership to provide community medical facilities within the new Community Centre, long term debt balances will be increasing significantly – but continue on the basis of being repaid from sources other than general taxation. New Water Fund debt is in accordance with the Water Conservation Strategy (implementation of universal metering), and the Eagle Lake Development Plan (development of the Eagle Lake source, and implementation of the membrane filtration facility). Debt service requirements have been built into the water user rate structure since the inception of those plans, and reflect a net savings to West Vancouver residents over what the long-term user rate would have been without development of the local water source.New debt requirements in the General Fund will cover the capital costs of our partnership with Vancouver Coastal Health Authority, and other third party lessees, in the new Community Centre. The servicing requirements of this debt are covered by a 30 year long term lease agreement with the Health Authority, and


lease and rental agreements with other third parties. Many of the new debt provisions have not been drawn down at December 31. In early 2009 an amount of $8.3 million was drawn down in the Water Fund. Bylaws for the $12.9 million relating to the new Community Centre are in place to initiate borrowings from MFA. Additional bylaws will be required in 2010 for the remainder of the Eagle Lake Development Plan costs.

LOOKING FORWARD

There are challenges ahead, particularly with regard to infrastructure replacement requirements of the water and sewer utilities, as well as opportunities associated with civic facility consolidation/replacement and the renewal of Ambleside.

It will be important to work through the cost and funding details of those projects within a new Long-Term Capital Plan during 2010, and ultimately their impacts on future budgets and rate structures.

And finally, the completion of the District’s Strategic Plan and Balanced Scorecard initiative in early 2010 has already served to focus our work programs and reporting regimes in pursuit of those goals.

Respectfully submitted,

Richard Laing, C.A.Director of Finance and Chief Financial Officer


District Of West VancouverAnnual Financial Report

Year ended December 31, 2009

Index

AUDITORS’ REPORT 43

FINANCIAL STATEMENTS Financial Position 44 Statement of Operations 45 Statement of Cash Flows 46 Statement of Change in Net Debt 47

SCHEDULES1. Segment Information 48 Revenues by Type and Expenditures by Object2. Tangible Capital Assets Continuity Schedule 49

NOTES TO FINANCIAL STATEMENTS 51



Auditors' Report

To the Mayor and Council ofThe Corporation of the District of West Vancouver

We have audited the Statement of Financial Position of The Corporation of the District ofWest Vancouver as at December 31, 2009 and the Statements of Operations, Change in NetDebt and Cash Flows for the year then ended. These financial statements are theresponsibility of the District's management. Our responsibility is to express an opinion onthese financial statements based on our audit.

We conducted our audit in accordance with Canadian generally accepted auditing standards.Those standards require that we plan and perform an audit to obtain reasonable assurancewhether the financial statements are free of material misstatement. An audit includesexamining, on a test basis, evidence supporting the amounts and disclosures in the financialstatements. An audit also includes assessing the accounting principles used and significantestimates made by management, as well as evaluating the overall financial statementpresentation.

In our opinion, these financial statements present fairly, in all material respects, thefinancial position of the District of West Vancouver as at December 31, 2009 and the resultsof its operations and cash flows for the year then ended in accordance with Canadiangenerally accepted accounting principles.

Our audit was made for the purpose of forming an opinion on the financial statements takenas a whole. The statistical information included in the Supplementary Information Sectionhas not been subject to audit and, accordingly, we express no opinion on the information inthis section.

CHARTERED ACCOUNTANTS

Vancouver, British ColumbiaMay 11, 2010

BDO Canada LLP 600 – 925 West Georgia St. Chartered Accountants Vancouver, BC, V6C 3L2 T(604)688-5421 F(604)688-5132


2009 2008(restated Note 17)

FINANCIAL ASSETSCash 1,979,081 695,960Investments (Note 2) 34,943,558 37,768,539 Accounts Receivable

Property Taxes 2,976,576 2,749,605 Other 7,109,910 7,363,462

Due from Other Governments 1,410,340 2,717,176 Investment in Land Held for Sale (Note 3) 349,255 5,822,452 Other Assets 471,965 58,954

49,240,685 57,176,148

LIABILITIESAccounts Payable 11,839,234 20,646,648 Employee Future Benefits Payable (Note 4) 3,386,324 3,290,057 Deferred Revenue and Deposits 17,836,307 17,555,463 Deferred Development Cost Charges (Note 5) 21,530,562 21,138,092 Long-Term Debt (Note 6) 10,994,609 2,878,283

65,587,036 65,508,543

NET DEBT (16,346,351) (8,332,395)

NON FINANCIAL ASSETSInventories 589,485 623,869Prepaids 356,571 327,260Tangible Capital Assets (Note 7) 405,488,625 397,581,126

406,434,681 398,532,255

ACCUMULATED SURPLUS (Note 8) 390,088,330 390,199,860

See Commitment and Contingencies Note 10.See Long Term Leases Note 11.

Richard Laing, C.A. Pamela Goldsmith-JonesDirector of Finance Mayor

DISTRICT OF WEST VANCOUVERFINANCIAL STATEMENTSFINANCIAL POSITIONAs at December 31, 2009


2009 2009 2008Budget Actual Actual

(revised Note 18) (restated Note 17)

REVENUEGeneral Taxation (Note 12) 52,188,259 52,190,992 50,115,912 Other General Revenues 19,493,492 19,166,798 20,349,986 Solid Waste Fees and Revenue 2,095,600 2,205,197 2,244,787 Water Utility Fees and Revenues 7,234,100 7,928,660 6,739,779 Sewer Utility Fees and Revenues 7,875,960 7,438,726 6,574,436 Cemetery Fees and Revenue 793,300 880,526 853,176Golf Fees and Revenue 1,407,400 1,297,535 1,314,215 Transit Reimbursements 13,079,800 12,276,782 11,545,526 Gain on Sale of Land - - 198,739Development Cost Charges 1,440,000 1,183,395 2,420,561 Contributed Tangible Capital Assets - - 79,647 Other Contributions for Capital 8,445,800 2,975,294 3,981,839 2010 Olympic Venue (Note 13) - 1,483,052 -Third Party Works 1,832,600 813,317 2,166,982 Interest Earned on Reserve Funds - 1,691,179 1,628,017

115,886,311 111,531,453 110,213,602

EXPENSESGeneral Departmental Operating 68,366,523 68,272,261 66,593,425 General Operating Other 1,722,586 1,901,984 1,841,803 Solid Waste Operating 2,266,600 2,710,796 1,850,002 Water Utility Operating 9,573,923 9,579,435 7,454,930 Sewer Utility Operating 10,643,320 10,601,722 10,486,317 Cemetery Operating 590,803 579,682 586,219Golf Operating 1,126,466 1,041,527 995,353Transit Operating 13,079,800 12,276,782 11,545,526 Interest and Other Bank Charges 1,055,289 1,149,271 1,222,766 Interest on Long Term Debt 202,700 575,911 160,911Special Projects 514,437 405,840 1,581,977 2010 Olympic Venue (Note 13) - 1,754,455 -Third Party Works 1,832,600 793,317 2,136,304

110,975,047 111,642,983 106,455,533

ANNUAL SURPLUS/(DEFICIT) 4,911,264 (111,530) 3,758,069 Accumulated Surplus, Beginning of Year 390,199,860 390,199,860 386,441,791 ACCUMULATED SURPLUS, End of Year 395,111,124 390,088,330 390,199,860

For the Year Ended December 31, 2009

DISTRICT OF WEST VANCOUVERFINANCIAL STATEMENTS

STATEMENT OF OPERATIONS

See Budget and Statement of Operations Reconciliation Note 15.


2009 2008(restated Note 17)

OPERATING ACTIVITIESAnnual Surplus/(Deficit) (111,530) 3,758,069 Non-Cash Items Included in Annual Surplus/(Deficit):

Amortization Expense 13,820,176 11,959,140 Contributed Tangible Capital Assets - (79,647) Net Loss on Disposal of Tangible Capital Assets 489,658 176,123 Write-down of Tangible Capital Assets 352,397 1,200,898 Development Cost Charge Revenue Recognized (1,183,395) (2,420,561) Earnings on Debt Sinking Funds (Actuarial Adjustment) (54,517) (46,569)

Changes in Other Non-Cash Working Capital (7,504,824) 4,450,659 5,807,965 18,998,112

CAPITAL ACTIVITIESProceeds from Sale of Tangible Capital Assets 68,493 70,072 Acquisition of Tangible Capital Assets (17,070,311) (41,615,182)

(17,001,818) (41,545,110)

FINANCING ACTIVITIESDevelopment Cost Charge Contributions, including interest 1,575,865 1,366,897 Debt Proceeds 8,300,003 -Debt Principal Repaid (129,160) (129,160)

9,746,708 1,237,737

INVESTING ACTIVITIESDrawdown of Investments 2,824,981 18,955,147 Addition to Land Held for Sale (94,715) (211,480)

2,730,266 18,743,667

INCREASE (DECREASE) IN CASH 1,283,121 (2,565,594) Cash, Beginning of Year 695,960 3,261,554 CASH, END OF YEAR 1,979,081 695,960


STATEMENT OF CASH FLOWSFor the Year Ended December 31, 2009


2009 2009 2008Budget Actual Actual

ANNUAL SURPLUS/(DEFICIT) 4,911,264 (111,530) 3,758,069

TANGIBLE CAPITAL ASSETSAcquisition of Tangible Capital Assets (22,437,672) (17,070,311) (41,615,182) Reclassification from Land Held for Sale - (5,567,912) -Contributed Tangible Capital Assets - - (79,647) Amortization 13,820,176 13,820,176 11,959,140 Proceeds from Sale of Tangible Capital Assets - 68,493 70,072 Write Downs on Tangible Capital Assets 352,397 352,397 1,200,898 Net Loss on Disposal of Tangible Capital Assets 489,658 489,658 176,123

(7,775,441) (7,907,499) (28,288,596)

OTHER NON-FINANCIAL ASSETSDecrease (Increase) in Inventory - 34,384 (33,102) (Increase) in Prepaids - (29,311) (25,054)

- 5,073 (58,156)

INCREASE IN NET DEBT (2,864,177) (8,013,956) (24,588,683) (Net Debt) Financial Assets, Beginning of Year (8,332,395) (8,332,395) 16,256,288

NET DEBT, END OF YEAR (11,196,572) (16,346,351) (8,332,395)


STATEMENT OF CHANGE IN NET DEBTFor the Year Ended December 31, 2009


GENERAL FUNDPlanning

General Public Eng & Solid Lands & RecreationGovernment Safety Transport Waste Permits & Library Golf

REVENUESGeneral TaxationFees & Charges 499,121 590,368 108,472 2,205,197 268,012 8,075,029 1,297,535 Licences and Permits - - 32,184 2,889,665 -Other Revenue 71,159 2,100 103,483 438,334 1,142,440 Internal Admin Fees 700,000 - -Government Grants - 1,031,185 103 6,439 226,880 Gain on Sale of Land - - -Development Cost Charges - - 608,607 Contributed Tangible Capital Assets - - -Other Contributions for Capital - 21,373 838,274 2,079,925 2010 Olympic Venue - - -Third Party Works - - 793,317 20,000 -Interest Earned on Reserve Funds - - -

1,270,280 1,645,026 1,875,833 2,205,197 3,622,450 12,132,881 1,297,535

EXPENSESSalaries and Benefits 6,386,498 22,446,256 1,927,529 79,625 3,114,116 14,281,108 417,401Supplies and Other Expenses 2,152,297 2,541,304 975,331 2,615,641 507,349 4,332,616 694,978Professional and Consulting 250,268 125,480 26,830 12,091 - 13,818 -Recoveries and Allocations 114,849 (969,591) 327,814 505 (71,813) 774,743 61,148Legal & Severance 383,980 175,282 47,059 4,353 4,171Grants in Aid - - -Property & Liability Insurance - - -Election - - -Tangible Capital Assets Maintenance 233,459 271,952 263,220 52,934 29,530 1,748,933 83,463Tangible Capital Asset Write-Downs - - 106,467 -Tangible Capital Asset Amortization 501,418 949,028 2,022,683 2,566,971 30,366Net Loss on Sale of Tangible Capital Assets 15,348 (33,018) 57,213 4,359 Interest and Other Bank Charges - - 842,779 32,654Interest on Long Term Debt - - -Special Projects - - -2010 Olympic VenueThird Party Works - - 793,317 -

10,038,117 25,506,693 6,500,404 2,760,796 3,626,241 24,569,680 1,324,181

ANNUAL SURPLUS/(DEFICIT) (8,767,837) (23,861,667) (4,624,571) (555,599) (3,791) (12,436,799) (26,646)


SCHEDULE 1 - SEGMENT INFORMATION - REVENUES BY TYPE AND EXPENSES BY OBJECTFor the Year Ended December 31, 2009


SCHEDULE 1 Continued

ELIMINATEWATER SEWER CHARGESUTILITY UTILITY CEMETERY TRANSIT BETWEEN GRAND TOTAL

Unallocated TOTAL FUND FUND FUND BLUE BUS SEGMENTS 2009 2008(restated)

52,190,992 52,190,992 52,190,992 50,115,912 1,746,157 14,789,891 7,928,660 7,438,726 622,315 30,779,592 28,095,093

2,921,849 2,921,849 3,590,607 2,964,891 4,722,407 258,211 12,276,782 (1,045,254) 16,212,146 16,356,540

- 700,000 - - - (700,000) - -6,030 1,270,637 10,000 1,280,637 1,680,622

- - - 198,739 608,607 574,788 1,183,395 2,420,561

- - 79,647 (157,942) 2,781,630 104,907 88,757 2,975,294 3,981,839

1,483,052 1,483,052 1,483,052 -813,317 813,317 2,166,982

1,584,079 1,584,079 2,294 104,806 1,691,179 1,527,060 59,817,259 83,866,461 8,043,567 8,104,565 985,332 12,276,782 (1,745,254) 111,531,453 110,213,602

238,012 48,890,545 1,073,380 967,335 395,201 9,022,679 60,349,140 56,154,376 13,819,516 3,541,458 5,206,473 218,162 3,085,249 (700,000) 25,170,858 24,215,428

428,487 - 4,762 433,249 354,783 237,655 571,240 351,132 10,210 147,604 1,317,841 1,508,308

- 614,845 1,689 16,488 633,022 497,977 349,480 349,480 349,480 324,000 981,714 981,714 981,714 889,397

- - - 130,430 2,683,491 221,333 140,711 21,117 3,066,652 3,942,715

106,467 192,575 53,356 352,398 1,200,898 6,070,466 3,683,693 4,032,715 33,303 13,820,177 11,959,140

43,902 445,756 489,658 176,123 306,492 1,181,925 1,012,600 (1,045,254) 1,149,271 1,206,286 21,413 21,413 554,498 575,911 177,391

405,840 405,840 405,840 1,581,977 1,754,455 1,754,455 1,754,455 -

793,317 793,317 2,136,304

4,057,406 78,383,518 11,296,533 10,751,722 679,682 12,276,782 (1,745,254) 111,642,983 106,455,533

55,759,853 5,482,943 (3,252,966) (2,647,157) 305,650 - - (111,530) 3,758,069


Machinery,

Land Furniture andLand Improvements Buildings Equipment

COST

Opening Balance 87,754,177 19,579,146 34,397,962 12,624,472

Add: Additons 403,786 42,700,971 1,375,595

Add: Reclassification from Financial Assets 5,567,912

Less: Disposals - - 69,681

Less: Write-downs - -

Closing Balance 93,322,089 19,982,932 77,098,933 13,930,386

ACCUMULATED AMORTIZATION

Opening Balance - 10,163,807 15,758,023 7,335,783 Add: Amortization - 665,694 1,628,110 1,239,104 Less: Acc. Amortization on Disposals - - 54,334

Closing Balance - 10,829,501 17,386,133 8,520,553

93,322,089 9,153,431 59,712,800 5,409,833

87,754,177 9,415,339 18,639,939 5,288,689


SCHEDULE 2 - TANGIBLE CAPITAL ASSETS CONTINUITY SCHEDULE

General

For the Year Ended December 31, 2009

8

NET BOOK VALUE, YEAR ENDED 2009

NET BOOK VALUE, YEAR ENDED 2008


SCHEDULE 2 Continued

Assets 2009 2008 Under Actual Actual

Vehicles Transportation Water Sanitary Sewer Construction

12,498,423 66,258,717 126,887,706 206,915,879 43,343,618 610,260,100 570,659,986

1,564,266 7,168,467 2,282,327 700,263 (39,125,346) 17,070,329 41,694,829

- - 5,567,912

759,099 1,020,816 - - 1,849,596 893,817

- 106,467 192,574 53,356 - 352,397 1,200,898

13,303,590 73,320,717 127,956,643 207,562,786 4,218,272 630,696,348 610,260,100

6,309,643 25,845,372 40,678,162 106,588,184 - 212,678,974 201,367,456 1,101,542 1,471,973 3,683,699 4,030,072 - 13,820,194 11,959,140

662,051 575,060 - - 1,291,445 647,622 6,749,134 27,317,345 43,786,801 110,618,256 - 225,207,723 212,678,974

6,554,456 46,003,372 84,169,842 96,944,530 4,218,272 405,488,625

6,188,780 40,413,345 86,209,544 100,327,695 43,343,618 397,581,126

9

Infrastructure




NOTES TO FINANCIAL STATEMENTSFor the Year Ended December 31, 2009

1. SIGNIFICANT ACCOUNTING POLICIES

(a) Basis of Presentation

The financial statements of the District of West Vancouver (the District) are the representations ofmanagement prepared in accordance with generally accepted accounting principles for local governmentas established by the Public Sector Accounting Board of the Canadian Institute of Chartered Accountants.Budget information has been aggregated to comply with these reporting standards. Certain comparativefigures have been reclassified to conform to the current year’s presentation.

Effective January 1, 2009 the District changed its method of recording tangible capital assets, inventory andprepaids to the method (accrual method of accounting) required by the Public Sector Accounting Handbooksections 3150 and 1200. The handbook requires that these assets be recognized as assets until the futureeconomic benefits underlying the assets are partly or wholly used or consumed. These assets are now onthe Statement of Financial Position as non-financial assets and will be expensed when used/consumed. Theproxy for use/consumption for tangible capital assets is amortization expense. Previously these assets werefully expensed in the year of acquisition. The impacts of these changes are very significant and have drivena number of changes in the presentation of the financial statements, and have resulted in material changesto both the District’s financial position at year-end and annual operating results. The changes have beenapplied retroactively adjusting the 2008 financial results (Note 17).

(b) Reporting Entity

The financial statements reflect the assets, liabilities, revenues, expenses, and changes in financial positionof the reporting entity which comprises all the organizations that are accountable for the administration oftheir financial affairs and resources to Council and are owned or controlled by the District. This includesthe West Vancouver Municipal Library, the West Vancouver Community Center Services Society and the WestVancouver Police Department. All inter-fund balances and transactions are eliminated.

(c) Accrual Accounting

Items recognized in the financial statements are accounted for in accordance with the accrual basis ofaccounting. The accrual basis of accounting recognizes the effect of transactions and events in the periodin which they occur, regardless of whether there has been a receipt or payment of cash or its equivalent.Liabilities are recognized until the obligation or condition(s) underlying the liability is partly or whollysatisfied. Assets are recognized until the future economic benefit underlying the asset is partly or whollyused or lost.

(d) Revenue Recognition

TaxationAnnual levies for non-optional District services and general administrative services are recorded as GeneralTaxation. Levies imposed by other taxing authorities are not included in these financial statements.

Government TransfersUnconditional grant revenue is recognized either when it is received or when collectability is assured.Conditional grant revenue is recognized to the extent the conditions imposed on it have been fulfilled.

Development Cost Charge RevenueReceipts which are restricted by the legislation of senior governments or by agreement with external partiesare reported as Deferred Development Cost Charges at the time they are received. When the qualifyingexpenditures are incurred the related Development Cost Charges are brought into revenue. (Note 5)




1. SIGNIFICANT ACCOUNTING POLICIES (continued)

(e) Revenue Recognition (continued)

Investment IncomeInvestments are recorded at cost, except Municipal Finance Authority (MFA) Pooled Investment Funds whichare recorded at market value. The carrying value of investments is reduced if, in management’s opinion,there is a permanent decline in value.

(f) Non-Financial Assets

Non-financial assets are not available to discharge existing liabilities and are held for use in the provision ofgoods and services. They have useful lives extending beyond the current year and are not intended for salein the ordinary course of operations.

Intangible capital assets, such as water rights and mineral resources, are not recorded in the financialstatements.

(i) Tangible Capital Assets (Note 7 and Schedule 2)

Tangible Capital Assets are recorded at cost, net of disposals, write-downs and amortization. The usefullife is applied on a straight line basis to calculate amortization.

Type Major Asset CategoryUseful Life

Range (years)

General: Land n/aLand Improvements 10-50Buildings 30-100Machinery, Furniture & Equipment 4-15Vehicles 5-15

Infrastructure: Transportation 10-100Water 10-100Sewer 10-100

Carrying costs directly attributable to the acquisition, construction or development activity, excludinginterest costs, are capitalized to the point in time the asset is substantially complete and ready for use.Assets under construction are not amortized until the asset is in use. Contributions of tangible capitalassets are recorded at fair value at the date of contribution.

(ii) Inventory

Inventories are recorded at the lower of cost and net realizable value. Cost is determined using theweighted average cost basis.




1. SIGNIFICANT ACCOUNTING POLICIES (continued)

(g) Use of Estimates

The preparation of financial statements requires management to make estimates and assumptions.Significant areas requiring estimates include the determination of accrued payroll liabilities, provisions forcontingencies, net book value for tangible capital assets capitalized prior to 2009, and amortizationexpense. If actual results differ, adjustments are reflected in operations when known.

2. INVESTMENTS

2009 2009 2008Market Value

Federal Bonds and Notes, 10,319,969 10,165,697 13,016,959interest rates from 3.55% to 5.20%maturity dates from 2010 - 2019

Provincial Bonds and Notes, 7,940,255 8,003,353 9,456,244interest rates from 4.20% to 8.50%maturity dates from 2010 - 2019

Schedule One Bank Notes, 22,014,370 21,139,219 19,485,395interest rates from 4.05% to 5.69%maturity dates 2010 - 2018

Municipal Finance Authority of BCInvestment pools, 23,208 23,209 22,337variable interest rates

Accrued Interest 405,347 405,347 461,973

40,703,149 39,736,825 42,442,908

Less Trust Funds (Note 18) (4,909,830) (4,793,267) (4,674,369)

35,793,319 34,943,558 37,768,539

The District does not hold asset backed commercial paper, or hedge funds.




3. INVESTMENT IN LAND HELD FOR SALE

2009 2008

Land acquired by Endowment Fund (Wetmore Lands) - 5,567,913

Other Land 349,255 254,539

349,255 5,822,452

Investment includes land acquisition costs and capitalized land improvements, valued at the lower of cost ornet realizable value. In 2009, the Wetmore Lands were reclassified as Non-Financial Assets, Tangible CapitalAssets, as they will now be leased and accordingly are no longer available for sale (Note 11).

4. EMPLOYEE FUTURE BENEFITS PAYABLE

Employees are entitled to earned benefits related to non-vested sick leave, vacation at retirement, andretirement allowances. Employees may also defer sick leave gratuity payments.

The liabilities and expenses for these post employment benefits and compensated absences is recognized in thefinancial statements in the period(s) in which employees render services, rather than in the period(s) in whichemployees are no longer providing active service and the benefits paid.

The liabilities and expenses for post employment benefits and compensated absences is actuarially determinedusing the projected benefits method pro rated on service. The liabilities reported in the financial statements arebased on an actuarial valuation as at December 31, 2009. The significant actuarial valuation assumptionsadopted in measuring the District’s accrued benefit liabilities for post employment benefits are as follows:

2009 2008

Discount rate 5.00% 5.25%Rate of compensation increase based on age, inflation,productivity and seniority 2.58% to 4.63% 2.58% to 4.63%

Employee accrued benefit liabilities as at December 31 are as follows:

2009 2008

Non-vested sick leave 1,436,028 1,411,729

Vacation at retirement 475,139 471,303

Retirement allowance 568,862 560,661

Sick leave gratuity pay 906,295 846,364

3,386,324 3,290,057

Total unamortized actuarial loss (gain) (251,124) (346,757)

3,135,200 2,943,300




4. EMPLOYEE FUTURE BENEFITS PAYABLE (continued)

The continuity of the District’s employee accrued benefit liabilities is as follows:

5. DEFERRED DEVELOPMENT COST CHARGES

These funds are restricted to the purposes for which they were collected from developers. Separate accountshold funds for underground wiring, waterworks infrastructure, drainage, roads, and parks and open spaceprojects in specific areas. Expenditures require only budgetary authorization, within the purposes authorized inthe establishing bylaws.

Continuity of Deferred Development Cost Charges

Opening Current Interest Transfers Closing

Balances Receipts Earned Out Balances

GENERAL FUND

Highways 4,462,874 41,013 287,833 - 4,791,720

Underground Wiring 1,087,962 3,489 69,959 - 1,161,410

Parks and Open Space 11,449,521 105,267 718,904 (608,607) 11,665,085

17,000,357 149,769 1,076,696 (608,607) 17,618,215

WATER UTILITY FUND 56,971 80,556 6,242 - 143,769

SEWER UTILITY FUND 4,080,764 18,476 244,126 (574,788) 3,768,578

21,138,092 248,801 1,327,064 (1,183,395) 21,530,562

2009 2008

Balance, beginning of year 2,943,300 2,933,300

Current service costs 254,300 264,300

Interest costs 160,400 145,300

Actual benefits paid (291,161) (221,611)

3,066,839 3,121,289

Actuarial loss (gain) arising in the period 68,361 (177,989)

3,135,200 2,943,300




6. LONG-TERM DEBT, including Capital to be Financed in Future Years

The District uses internal resources to temporarily finance various capital works that will eventually be financedas external long-term debt via the Municipal Finance Authority of BC. The amount of internally financed capitalworks is shown in the table on the next page as “Capital to be Financed in Future Years”. While those amountshave been authorized in the (5 year) Financial Plan bylaws, not all of the amounts have been included in LoanAuthorization bylaws. The outstanding Loan Authorization bylaws, relating to the Gleneagles Golf Courseclubhouse, and portions of the Eagle Lake Development Plan, will be processed during 2010.

Outstanding Long-Term Debt &Capital to be Financed in Future Years

2009 2008

General Fund

Ambleside Underground 203,972 249,040Capital To be Financed in Future Years 14,144,659 13,127,406

14,348,631 3,376,446

Water Utility Fund

Various Infrastructure Loans 10,790,637 2,629,243Capital To be Financed in Future Years 12,330,418 19,214,779

23,121,055 21,844,022

Total

Debt Outstanding 10,994,609 2,878,283Capital To be Financed in Future Years 26,475,077 32,342,185

37,469,686 35,220,468

Repayments, including interest at rates ranging from 4.17% to 6.25%, are due as follows:

Water

General Utility

Fund Fund Total

2010 66,483 1,048,975 1,115,458

2011 66,483 1,048,975 1,115,458

2012 66,483 1,048,975 1,115,458

2013 44,081 1,048,975 1,093,056

2014 - 1,048,975 1,048,975

2015 – 2029 - 10,873,943 10,873,943

243,530 16,118,818 16,362,348

Less interest portion 39,558 5,328,181 5,367,739

Plus Capital to be Financed in Future Years 14,144,659 12,330,418 26,475,077

14,348,631 3,121,055 37,469,686




7. TANGIBLE CAPITAL ASSETS (Schedule 2)

Land includes the Wetmore Lands valued at $5,567,912 re-classified from Financial Assets, which is planned tobe leased in 2010 for a 125 year period (Note 11).

The District owns a number of works of art and historical treasures in the form of sculptures, paintings andreproductions, mosaics, totem poles and monuments that have an approximate market value of $2.5 million.Due to the subjective nature of these assets they are expensed when acquired and are not included as part oftangible capital assets.

8. ACCUMULATED SURPLUS

Accumulated surplus is represented by:

2009 2008Unappropriated Surplus (restated)

General Fund 240,259 234,521

Water Utility Fund 2,368,105 2,495,753

Sewer Utility Fund 446,500 194,966

3,054,864 2,925,240Obligation to be Funded from Future Revenues (990,190) (990,190)Reserve Funds (Note 9) 24,626,573 24,953,023

26,691,247 26,888,073

Investment in Non-Financial Assets 389,872,160 395,653,972Capital to be Financed in Future Years (26,475,077) (32,342,185)

363,397,083 363,311,787

390,088,330 390,199,860

Net Book Value 2009 2008

General: (restated)Land 93,322,089 87,754,177Land Improvements 9,153,431 9,415,339Buildings 59,712,800 18,639,939Machinery, Furniture & Equipment 5,409,833 5,288,689Vehicles 6,554,456 6,188,780

Infrastructure:Transportation 46,003,372 40,413,345Water 84,169,842 86,209,544Sewer 96,944,530 100,327,695

Assets Under Construction: 4,218,272 43,343,618

405,488,625 397,581,126




8. ACCUMULATED SURPLUS (continued)

The Unappropriated Surplus is the amount of Accumulated Surplus remaining after deducting the otherAppropriated Surplus balances. It is available to temporarily finance operations until planned revenues (i.e.property taxes, grants etc.) are received, or for other operating or capital purposes as determined by Council.

Obligations to be Funded from Future Revenues is an unfunded obligation for employee retirement benefitsaccrued and recognized as a liability, but not yet payable. These obligations will be funded when they arepayable in a future year.

Reserve Funds are the amount of Accumulated Surplus that have been set-aside by decision of Council for aspecified purpose. In the normal course of operations, these funds will be used to finance future services orcapital works for which they have been appropriated.

Investment in Non-Financial Assets is equal to the non-financial assets (net of land assets held in Reserves) lessrelated long-term debt. In the normal course of operations, the non-financial assets will be consumed/used toprovide services and debt will be repaid by future period revenues.

Capital to be Financed in the Future is equal to the tangible capital assets included in Investment in Non-Financial Assets that have been temporarily financed with internal resources, and will be financed by long-termdebt once the works are complete.

9. RESERVE FUNDS

Individual reserve funds have restrictions and conditions as follows:

(a) Endowment Fund

This fund, subject to a threshold amount that increases annually with the consumer price index, may beused for capital projects, real property acquisition, or to reduce outstanding debt. It is currently earmarkedfor major projects in the Long-Term Capital Plan. The amount of the threshold at December 31, 2009 is$20,665,308 (2008 - $20,255,281). The balance in the Fund is $15,751,359 at December 31, 2009, afterhaving transferred $2.5 million to the Capital Facilities Reserve to fund several major capital projects. Thisamount, together with a previous internal short term advance of $4 million, will be recovered with interestfrom the prepaid Wetmore lease discussed in Note 11 below.

(b) Capital Facilities Reserve

This fund is for major capital acquisitions and projects. It receives annual transfers from the General Fund.

(c) Infrastructure Fund

This fund is for ongoing maintenance and replacements of existing infrastructure. It receives annualtransfers from the General Fund.

(d) Capital Reserves

These funds are for capital projects generally, and may be expended within general budgetary authority.




9. RESERVE FUNDS (continued)

(e) Operating Reserves

These funds are for one-time operating expenditures that may occur from time to time, and may beexpended within general budgetary authority.

(f) Golf Development Fund

Net revenues/expenses from golf operations are transferred to/from this fund annually. These funds are forgolf course development generally, and may be expended within general budgetary authority.

(g) Water and Sewer Capital Reserves

These funds accumulate sinking fund surplus refunds, along with interest earned on them. The funds maybe used for infrastructure capital expenditures, or to reduce debt outstanding.

(h) Cemetery Development Fund

Net revenues/expenses from cemetery operations are transferred to/from this fund annually. These fundsare for cemetery development generally, and may be expended within general budgetary authority.

Continuity of Reserve Funds

Opening Current Interest Transfers Closing

Balances Receipts Earned Out Balances

GENERAL FUND (restated)

Endowment Fund 16,675,939 279,648 1,332,752 (2,536,980) 15,751,359

Capital Facilities 1,427,390 1,240,000 97,506 (1,260,975) 1,503,921

Infrastructure Fund 409,118 7,785,000 - (7,162,381) 1,031,737

Capital Reserves 835,322 698,358 54,168 (27,068) 1,560,780

Community Amenity 782,000 - 64,085 (67,567) 778,518

Operating Reserves 3,018,476 147,964 30,915 (952,807) 2,244,548

Golf Development Fund 61,893 - 4,653 (11,489) 55,057

23,210,138 10,150,970 1,584,079 (12,019,267) 22,925,920

WATER UTILITY FUND - - - - -

SEWER UTILITY FUND 35,722 - 2,294 - 38,016

CEMETERY FUND 1,707,163 - 104,806 (149,332) 1,662,637

24,953,023 10,150,970 1,691,179 (12,168,599) 24,626,573




10. COMMITMENTS AND CONTINGENCIES

(a) Legal Actions

The District is currently involved in certain legal actions. Financial implications of potential claims againstthe District, resulting from such litigation and not covered by insurance, are accrued to the extent thatamounts can be reasonably estimated. Otherwise such claims are recognized in the year in which adefinitive obligation is determined.

(b) Municipal Pension Plan

The District and its employees contribute to the Municipal Pension Plan (the Plan), a jointly trusteedpension plan. The Board of Trustees, representing plan members and employers, is responsible foroverseeing the management of the Plan, including investment of the assets and administration of benefits.The pension plan is a multi-employer contributory pension plan. Basic pension benefits provided aredefined. The plan has about 158,000 active members and approximately 57,000 retired members. Activemembers include approximately 33,000 contributors from local government.

Every three years an actuarial valuation is performed to assess the financial position of the Plan and theadequacy of Plan funding. The most recent valuation as at December 31, 2006 indicated a surplus of $438million for basic pension benefits. The next valuation will be December 31, 2009 with results available in2010. The actuary does not attribute portions of the surplus to individual employers.

The District of West Vancouver paid $4,678,164 for employer contributions and $3,661,057 for employeecontributions to the Plan in fiscal 2009 ($4,113,730 and $3,227,267 respectively in 2008).

(c) Contract to Purchase Property

The District has entered into a contract to purchase a property located at 1466 Argyle Avenue for the sum of$3.5 million. A deposit of $400,000 was paid in 2009 and the sale will complete in 2010.

11. LONG-TERM LEASES

The District has entered into agreements for the lease of District property for periods from 30 to 125 years.Lease proceeds are recognized on a systematic basis over the term of the leases.

(a) 14th Street - Duchess to Esquimalt, Ambleview Place Housing

Included in Trust Funds are deferred lease receipts which will not be available to the District until the year2047, at which time the District is committed to purchase the property under the lease at an amount whichis anticipated to be less than the cumulative deferred proceeds as of that date. Proceeds are to be receivedin annual amounts varying from $5,040 to $20,160 until the year 2047. At December 31, 2009 thecumulative amount deferred totaled $267,486.

(b) 320 Taylor Way

The District receives annual lease proceeds of $125,000 (plus an adjustment for inflation starting in 1999) tothe year 2087. The net proceeds are transferred to the Endowment Fund.




11. LONG-TERM LEASES (continued)

(c) Community Centre

The District has a lease agreement with Vancouver Coastal Health Authority for approximately 19,500square feet of custom designed space at the Community Centre. The lease commenced May of 2009 withthe following terms:

Term – 30 years, with one 10 year renewal option

Annual rentals:$32.25 per square foot (years 1 – 10)$38.11 per square foot (years 11 – 20)$50.95 per square foot (years 21 – 30)

plus proportionate share of defined operating and maintenance costs

Certain other spaces in the Community Centre are covered by commercial rental and leasing arrangements(music room, café, alternative medicine) with varying terms.

(d) Wetmore Lands

The District has concluded an agreement with Pacific Arbour Retirement Communities to develop theWetmore lands. Pacific Arbour will enter into a prepaid 125 year lease of the property for $14.5 million,plus a further amount of $500,000 to develop an adjacent park. The lease proceeds are due at theconclusion of an appropriate public consultation process, and rezoning and development approvals. TheEndowment Reserve Fund has made internal short term advances, as described in Note 9(a), in anticipationof recovery from the Wetmore lease proceeds.




12. TAXATION AND UTILITY USER FEE REVENUES

13. 2010 OLYMPIC VENUE REVENUE AND EXPENSES

The budgets for the 2010 Olympic Venue are those approved by Council on December 14, 2009.

Budget Actual

Revenues

General Revenue - 44,476

Donations/Fund Raising 2,296,000 1,483,052

Transfer from Infrastructure Reserve 100,000

Transfer from Operating Reserve 54,000 126,927

2,350,000 1,754,455

Expenses 2,350,000 1,754,455

- -

2009 2008

Amount % Amount %

Collection for District Purposes

General Taxation 51,043,758 43.4% 48,979,346 43.9%

Grants in Lieu of Taxes 914,507 0.8% 930,339 0.8%

Specified Area Levies 232,727 0.2% 206,227 0.2%

52,190,992 44.4% 50,115,912 44.9%

Recycling Fees and Charges 1,000,501 0.9% 1,212,378 1.1%

Waste Disposal Fees 1,204,696 1.0% 1,032,409 0.9%

Water Utility Fees 7,928,660 6.7% 6,739,779 6.0%

Sewer Utility Fees 7,438,726 6.3% 6,574,436 5.9%

69,763,575 59.3% 65,674,914 58.8%

Collection for Other Agencies

Province of BC School Taxes

Residential 28,717,324 24.4% 27,797,731 24.9%

Non-residential 6,319,908 5.4% 6,187,043 5.5%

35,037,232 29.8% 33,984,774 30.4%

Regional Transit 9,620,923 8.2% 8,867,049 7.9%

BC Assessment Authority 1,602,831 1.4% 1,527,785 1.4%

Regional District 1,608,212 1.4% 1,581,108 1.4%

Municipal Finance Authority 4,870 0.0% 4,523 0.0%

47,874,068 40.7% 45,965,239 41.2%

Total 117,637,643 100.0% 111,640,153 100.0%




14. EXPENDITURES BY OBJECT (Schedule 1)

15. BUDGET AND STATEMENT OF OPERATIONS RECONCILIATION

The legislative requirements, as set out in the Community Charter, for the Budget (referred to as the FinancialPlan in the legislation) are cash based, meaning that planned revenue sources for the period must equalplanned expenditures. Accordingly, the legislation does not require (but does not preclude) the funding of non-cash items such as tangible capital asset amortization or liability accruals to provide for future cash needs.

The financial reporting requirements, as set out in the Public Sector Accounting Handbook, for the FinancialStatements, are accrual based, as described in Note 1(c). Financial reporting requirements do not apply to theBudget.

The differences in the requirements for the Budget and the Financial Statements result in different items beingrecognized as revenues and expenses.

For example, planned cash flows, recognized as revenues and expenses in the Budget, include such items asdebt proceeds, transfers to and from reserves and surplus, debt principle repayment and asset sale proceeds.These items are not recognized as revenues and expenses in the Financial Statements, Statement of Operations -they do not meet the public sector accounting standard requirements for recognition as they do not result in achange in the District’s Accumulated Surplus.

2009

Operations Capital Total

Goods and Services 34,273,406 15,976,160 50,249,566

Salaries and Benefits 60,349,140 1,094,151 61,443,291

Tangible Capital Assets* 14,662,233 14,662,233

Legal & Severance 633,022 633,022

Debt (Interest) & Other 1,725,182 1,725,182

111,642,983 17,070,311 128,713,294

2008

Operations Capital Total

Goods and Services 35,083,342 40,324,917 75,408,259

Salaries and Benefits 56,154,376 1,290,265 57,444,641

Tangible Capital Assets* 13,336,161 13,336,161

Legal & Severance 497,977 497,977

Debt (Interest) & Other 1,383,677 1,383,677

106,455,533 41,615,182 148,070,715

* Amortization, write-downs, loss on disposal.




15. BUDGET AND STATEMENT OF OPERATIONS RECONCILIATION (continued)

As well, since the Budget legislation does not require (but does not preclude) the funding of non-cash items suchas amortization or liability accruals to provide for future cash requirements there is no legislative requirementto include these items in the Budget. However, these items are recognized as expenses in the FinancialStatements, Statement of Operations.

The following table accounts for the difference between these two presentations and demonstrates how thelegislative requirement for a balanced budget (where planned revenue sources equal planned expenditures) hasbeen met.

� Tangible capital asset amortization, write-downs, gain/loss on disposal

16. SEGMENTED REPORTING (Schedule 1)

The District is a diversified municipal government institution that provides a wide range of services to itscitizens. For management reporting purposes, the activities are organized and reported by Fund. These Fundsinclude General, Water, Sewer and Cemetery. They were created to attain certain objectives in accordance withspecial regulations, restrictions or limitations.

2009 2009 2008

Budget Actual Actual

(restated)Statement of Operations, AnnualSurplus/(Deficit) 911,264 (111,530) 3,758,069

Adjustments for Non-Cash Items:

Debt Actuarial Adjustment - (54,517) (46,569)

Contributed Tangible Capital Assets - - (79,647)

Tangible Capital Assets* 14,662,231 14,662,231 13,137,422

Change in Prepaids and Inventory - 5,073 (58,156)

Debt Proceeds and Temporary Internal Financing 3,290,000 2,432,895 8,930,954

Debt Principle Repayments (129,200) (129,160) (129,160)

Tangible Capital Asset Sale Proceeds - 68,493 268,811

Capital Expenditures (28,082,998) (17,070,311) (41,615,182)

Net Transfer (to)/from Reserves 5,921,224 326,450 15,696,714

Net Transfer (to)/from Unappropriated Surplus (572,521) (129,624) 136,744

Budget Balance - - -




16. SEGMENTED REPORTING (Schedule 1) (continued)

Following are the activities/services provided by each of the segments reported on:

GENERAL FUND

General GovernmentFinance and Administration functions of the District generally, including purchasing and personnel; receptionand cashiers; Treasurer's office and tax department; Mayor and Clerk’s offices; partnership development; grantsto organizations

Public SafetyLaw enforcement and protection to persons and property by the police department and fire and rescue services

Engineering and TransportationMaintenance of streets, roads and sidewalks; street and traffic signs, signals and lighting; snow removal andsanding

Solid WasteAdministration of the collection and disposal of household garbage, yard trimmings, and recyclables on acontracted basis

Planning, Lands and PermitsCommunity and land use planning; development issues generally, including the processing of rezoningapplications, development permits and development variances; building permit review and inspections; bylawservices

Recreation and CultureDevelopment and maintenance of the District's open space, parks and other landscaped areas; nurseryoperation; maintenance and operation of recreational facilities; development and provision of recreationalprograms; library, museum and archive

GolfOperation of the Ambleside par 3 golf course, and the Gleneagles Golf Course at Horseshoe Bay

Transit Blue BusOperation of the Blue Bus transit service, on contract from Translink

WATER UTILITY FUNDDevelopment of the water source at Eagle Lake (including a local membrane treatment facility) and distributionof both local and Metro Vancouver provided water to residents

SEWER UTILITY FUNDProvision of sanitary sewer collection and storm drainage management, by providing and maintaining pipes,manholes, culverts, and sewage lift stations, with sewage treatment provided by Metro Vancouver

CEMETERY FUNDOperation of the Capilano View Cemetery




16. SEGMENTED REPORTING (Schedule 1) (continued)

The attached Schedule 1, "Segment Information - Revenues by Type and Expenses by Object", presentsrevenues and expenses for each of the segments noted above. Only direct revenues and expenses are reflectedwithin individual segments. Other revenues (notably property taxation) and expenses not directly arising withinspecific segments have been shown separately as "Unallocated", in order that the totals match the amounts onthe Statement of Operations.

17. PRIOR PERIOD RESTATEMENT

As detailed in Note 1(a), Basis of Presentation, effective January 1, 2009, the District changed its method ofrecording tangible capital assets, inventory and prepaids to the method (accrual method of accounting) requiredby the Canadian Institute of Chartered Accountants Public Sector Accounting Handbook sections 3150 and 1200,with the changes applied on a retroactive basis.

The District has also retroactively accounted for the unpaid balance of a land purchase (Argyle Property) of $1million, funded from Reserves, that was previously not accounted for in 2008, as well as other minoradjustments. The Argyle land purchase represents a final cash payment in 2009, as anticipated in the five yearFinancial Plan (Budget).

These changes in reporting have resulted in the changes to the 2008 comparative values as outlined in the tablebelow. In summary, the changes increased the 2008 annual surplus and closing accumulated surplus by$27,346,752 and $88,433,960 respectively.

Statement of Operations2008

(restated)

2008(previouslyreported) Change

Revenues:

-Contributed TCA*, previously not recorded 79,647 - 79,647

-Interest Earned on Reserve Funds (Endowment Fund) 1,628,017 1,527,060 100,957

-Other General Revenue (General Fund Interest) 22,516,968 22,617,925 (100,957)

-All Other Revenues 86,005,450 86,005,450 -

110,230,082 110,150,435 79,647Expenses:

-TCA* expenditures (amount spent) capitalized - 41,166,889 (41,166,889)

-TCA* maintenance (amount spent) not capitalized 3,942,715 2,808,817 1,133,898

-Amortization expense (amount TCA* used) 11,959,140 - 11,959,140

-TCA* write downs 1,200,898 - 1,200,898

-Net loss on sale of TCA* 176,123 - 176,123

-Operating expenses re-classified as TCA* expenditures (512,119) - (512,119)

-Change in Prepaids & Inventory 883,908 942,064 (58,156)

-All other expenses 88,821,348 88,821,348 -

106,472,013 133,739,118 (27,267,105)

Annual Surplus/(Deficit) 3,758,069 (23,588,683) 27,346,752




17. PRIOR PERIOD RESTATEMENT (continued)

Statement of Financial Position2008

(restated)

2008(previouslyreported) Change

Financial Assets and Liabilities:

-Land Held for Sale 5,822,452 5,863,001 (40,549)

-Other Assets 58,954 68,019 (9,065)

-Land Purchase Payable (1,000,000) - (1,000,000)

-All other financial assets less liabilities (13,213,801) (13,213,801) -

Impact on Net Debt (8,332,395) (7,282,781) (1,049,614)

Non-Financial Assets:

-Tangible Capital Assets 397,581,126 308,424,812 89,156,314

-Prepaids 327,260 - 327,260

-Inventory 623,869 623,869 -

Impact on Non-Financial Assets 398,532,255 309,048,681 89,483,574

Accumulated Surplus 390,199,860 301,765,900 88,433,960

Accumulated Surplus Components:

-Unappropriated Surplus 2,925,240 3,075,811 (150,571)

-Obligations to be Funded from Future Revenues (990,190) (990,190) -

-Reserve Funds 24,953,023 25,852,066 (899,043)

-Investment in Non-Financial Assets 395,653,972 306,170,398 89,483,574

-Capital to be Financed in Future Years (32,342,185) (32,342,185) -

390,199,860 301,765,900 88,433,960

The opening balance for Accumulated Surplus changed as follows:

Accumulated Surplus, Jan/1/2008, previously reported 284,154,592

-Plus: Change in accounting for Tangible Capital Assets 101,994,058

-Plus: Change in accounting for Prepaids 293,141

Accumulated Surplus, Jan/1/2008, restated 386,441,791




18. 2009 BUDGET ADJUSTMENTS

The budget amounts presented throughout these financial statements are based on the Budget (referred to asthe Financial Plan in the legislation) approved by Council on April 6, 2009, with the exception of the budgets fortangible capital asset related expenses (amortization, write-downs and loss on disposal). The budgets for thetangible capital asset expenses are equal to actual expenses. This exception was made in order to improve thecomparability of the budget amounts with the actual amounts given that these items are non-cash andaccordingly are not required to be funded under the legislation. As well, these budgets could not have beenreasonably established when the Budget was originally approved in April 2009.

The table below shows the adjustments made to the 2009 Budget values with the addition of the budgets fortangible capital asset expenses. The Adjusted Budget values are then comparable to the 2009 actual values, andare the budget values shown in the Statement of Operations and the Statement of Net Debt.

2009 Budget

Original Adjustments Adjusted

Statement of Operations For TCA*

Revenues 115,886,311 - 115,886,311

Expenses

General Departmental Operating 62,176,054 6,190,469 68,366,523

Water Utility Operating 5,251,900 4,322,023 9,573,923

Sewer Utility Operating 6,557,250 4,086,070 10,643,320

Cemetery Operating 557,500 33,303 590,803

Golf Operating 1,096,100 30,366 1,126,466

Other Expenses 20,674,012 - 20,674,012

96,312,816 14,662,231 110,975,047

Annual Surplus 19,573,495 (14,662,231) 4,911,264

Statement of Change in Net Debt

Annual Surplus 19,573,495 (14,662,231) 4,911,264

Tangible Capital Assets (22,437,672) 14,662,231 (7,775,441)

Other Items - - -

Increase in Net Debt (2,864,177) - (2,864,177)

*Tangible Capital Assets




19. TRUST FUNDS

Trust Funds are not reflected in the consolidated financial statements.

The Cemetery Care Fund is restricted as to principal amount; interest earnings are available for ongoingmaintenance of cemetery grounds as required.

Other Trust Funds include funds for various Senior’s clubs and projects as well as library bequests. The LibraryFoundation is responsible for the ongoing investment management of approximately $2.6 million of additionallibrary bequests, not included here, that are intended for the benefit of the West Vancouver Public Library.

2009 2008

Cemetery Care Trust Fund

Balance, Opening 3,952,043 3,796,393

Additions during year

Contributions 139,880 155,650

Interest Earned 258,211 198,360

4,350,134 4,150,403

Transfer to Cemetery Operations (258,211) (198,360)

Balance, Closing 4,091,923 3,952,043

Other Trust Funds 701,344 722,326

4,793,267 4,674,369

20. MEMBERSHIP IN E-COMM EMERGENCY COMMUNICATIONS FOR SOUTHWEST BC INCORPORATED (E-Comm)

The District is a member of E-Comm, an organization comprised predominantly of member municipalities, forthe purpose of providing emergency and dispatch services. The District is represented on the Board and as aClass "A" shareholder has voting rights should the organization want to incur additional debt.

The E-Comm facility was constructed using debt as a financing mechanism and members are liable for aproportionate share of that debt. This debt is repaid by members through annual fees charged by E-Comm.Should E-Comm dissolve, members would be liable for a proportionate share of any residual debt. Alternativelyshould a member choose to opt out of E-Comm they would be liable for a proportionate share of the debt at thetime of withdrawal.

The District holds two Class "A" shares and one Class "B" share.



District Of West VancouverSupplementary Information

Five Year Financial and Statistical Review

Contents

GROWTH INDICATORS 74 Population 74 Building Permits/Construction Values

ASSESSMENT and TAXATION 75 Assessments by Property Class 75 Annual Assessment Growth 75 Tax Rates by Property Class 75 Tax Revenues by Property Class 76 Property Tax Collections 76 Residential Properties in Detail 76 Principal Corporate Taxpayers 77 Selected Charts

REVENUES 78 Ongoing Revenues by Category 79 Significant Revenue Rate Structures 80 Selected Charts

EXPENDITURES 81 Ongoing Expenditures 84 Selected Charts

DEBT 86 Debt Principal Outstanding 87 Annual Debt Service 87 Debt Service Limits 88 Selected Charts

SURPLUS, RESERVES and DEVELOPMENT COST CHARGES 89 Totals by Fund and Category 90 Selected Charts

INFRASTRUCTURE and CAPITAL PROGRAMS 91 Capital Expenditures 92 Capital Funding Sources by Fund and Category 93 Selected Charts

Significant changes have occurred for 2009 as a result of the implementation of Tangible Capital Asset reporting. Amounts for 2008 have been restated on the same basis as

2009, but years prior to 2008 are as originally reported.


2009 2008 2007 2006 2005

POPULATION ESTIMATESAs estimated by BCStats 44,452 44,452 44,097 44,272 43,967

% Change from prior year 0.00% 0.81% -0.40% 0.69% 1.43%

BUILDING PERMITS/CONSTRUCTION VALUES(Source: West Vancouver Building Department)

Permits Issued

Building Permits 488 644 760 625 674

Plumbing and Drainage 731 960 985 952 893

Electrical 815 1,018 1,018 1,006 982

2,034 2,622 2,763 2,583 2,549

Residential Units

Dwellings 64 112 132 121 133

Duplex / Triplex - - 40 6 20

Apartment - 3 8 19 175

64 115 180 146 328

Construction Values ( in $000's)

Residential 93.0 158.7 188.4 157.1 216.8

Commercial 6.0 15.4 4.4 10.4 2.5

Instituitional and Other 7.4 3.6 27.1 1.0 5.9

106.4 177.7 219.9 168.5 225.3

Permit Fees

Building Permits 1,182,637 1,793,993 2,112,132 1,560,721 1,930,689

Plumbing and Drainage 159,676 246,826 255,426 282,054 254,425

Electrical 367,711 435,547 366,049 336,196 342,103

1,710,024 2,476,366 2,733,607 2,178,971 2,527,217

Inspections Performed

Building Permits 4,045 4,768 4,723 4,732 4,467

Plumbing and Drainage 3,444 4,250 4,011 4,211 3,668

Electrical 2,014 2,030 1,885 1,893 1,8439,503 11,048 10,619 10,836 9,978

DISTRICT OF WEST VANCOUVER

5 YEAR FINANCIAL and STATISTICAL REVIEW

GROWTH INDICATORS

SUPPLEMENTARY INFORMATION


(Source: West Vancouver Finance Department)

2009 2008 2007 2006 2005

ASSESSMENTS BY PROPERTY CLASS

($000's)

Residential 22,284,094 22,102,479 19,187,257 15,924,233 13,725,804

Utilities 10,108 10,108 9,413 8,585 6,123

Major and Light Industry 1,065 1,396 1,024 - -

Business 762,642 766,550 669,160 577,507 534,864

Rec/Non-Profit 32,178 32,178 31,838 32,528 31,665

23,090,087 22,912,711 19,898,692 16,542,853 14,298,456

ANNUAL ASSESSMENT GROWTH

($000's)

Totals from prior year 22,912,711 19,898,692 16,542,853 14,298,456 12,160,195

Adjustments during year, net (3,004) 607 (6,010) (28,216) 10,876

New construction 290,510 278,743 326,149 266,000 272,905

Market valuation increases (110,130) 2,734,669 3,035,700 2,006,613 1,854,480

177,376 3,014,019 3,355,839 2,244,397 2,138,261

23,090,087 22,912,711 19,898,692 16,542,853 14,298,456

TAX RATES BY PROPERTY CLASS

($ per $1,000 of assessment)

Residential 2.1100 2.0399 2.2422 2.5937 2.8602Utilities 9.3130 9.0461 8.6493 9.8010 12.2751

Major and Light Industry 13.0755 12.7008 12.2713 11.9802 11.5728

Business 4.9135 4.7355 5.2088 5.8774 6.3602

Rec/Non-Profit 5.4007 5.2459 5.2327 5.3678 5.1627

TAX REVENUES BY PROPERTY CLASS

Residential 47,019,659 45,071,358 43,022,212 41,301,925 39,258,802

Utilities 94,134 91,436 81,420 84,142 81,281

Major and Light Industry 13,925 17,730 12,566 - -

Business 3,747,207 3,630,018 3,485,489 3,394,260 3,401,860

Rec/Non-Profit 173,782 168,804 166,598 174,601 163,478

51,048,707 48,979,346 46,768,285 44,954,928 42,905,421



ASSESSMENT and TAXATION



2009 2008 2005 2006 2005

PROPERTY TAX COLLECTIONS

District of West Vancouver

General Taxation 51,043,758 48,979,346 46,768,285 44,642,083 42,879,468

Grants in lieu of Taxes 914,507 930,339 935,773 996,760 733,932

Specified Area & LIP levies 232,727 192,379 192,427 256,892 259,912

52,190,992 50,102,064 47,896,484 45,895,735 43,873,312

Collected on behalf of others -

School tax - Province of BC 35,037,232 33,984,774 33,242,271 33,315,507 32,006,042

Regional Transit 9,620,923 8,867,049 8,616,997 8,987,471 7,753,019

BC Assessment Authority 1,602,831 1,527,785 1,467,556 1,472,016 1,435,858

Regional District 1,608,212 1,581,108 1,565,332 1,500,178 1,404,330

Municipal Finance Authority 4,870 4,523 5,848 4,857 4,193

100,065,060 96,067,303 92,794,488 91,175,764 86,476,754

RESIDENTIAL PROPERTIES IN DETAIL

Number of Folios 16,111 16,056 15,940 15,846 15,657

% of Total Folios 95.77% 96.32% 96.27% 95.63% 96.07%

% of Total Assessments 96.51% 96.47% 96.43% 96.26% 95.99%

% of Total Taxation Revenues 92.11% 92.05% 91.99% 91.87% 91.50%

PRINCIPAL CORPORATE TAXPAYERS

Municipal

Tax

Park Royal Shopping Centre Holdings Shopping Centre 685,168

BC Transportaion Financing Authority Ferries Infrastructure 263,898

British Pacific Properties Undeveloped Upper Lands 193,660

Millennium Evelyn Properties Ltd. Evelyn Drive 155,187

Austeville Properties Highrise Building 128,130

Caulfeild Village Shopping Centre Shopping Centre 117,673

GH West Vancouver Holdings Canada Safeway 104,294

449691 BC Ltd Retail/Business Complexes 102,146

Hollyburn Country Club Recreation Facility 100,999

Hanover Properties Ltd. Highrise Building 86,139

Capilano Golf & Country Club Golf Course 84,019

Hollyburn Medical Centre Medical Offices 83,746

K.A. Ray Limited Residential Strata 81,518

639343 BC Ltd Retail/Business Complexes 81,880

Ambleside Place Holdings Ltd. Retail/Business Complexes 79,252

Wall Financial Corporation Highrise Building 73,626

Hollyburn Properties Ltd. Residential/Business Complexes 73,325

ASSESSMENT and TAXATION - continued

DISTRICT OF WEST VANCOUVERSUPPLEMENTARY INFORMATION


PremisesOwner




ASSESSMENT and TAXATION - continued


Municipal Taxation

0

10

20

30

40

50

2009 2008 2007 2006 2005

Mill

ions

Residential Business & Other

Taxable Values

0

5

10

15

20

2009 2008 2007 2006 2005

Bill

ions

Residential Business & Other



2009 2008 2007 2006 2005

GENERAL FUND

ONGOING REVENUES BY CATEGORY

GENERAL TAXATION 52,190,992 50,115,912 47,910,591 45,957,110 43,886,756

FEES and CHARGES

Bylaw Fines 668,360 526,859 645,449 576,222 465,555

Fire Service Recoveries 190,020 98,494 53,879 34,461 26,180

Engineering Admin Fees 158,472 271,940 241,543 230,254 182,210

Parks and Recreation 8,795,138 7,847,791 7,458,713 7,013,866 6,160,349

Library 138,353 176,125 179,227 170,115 170,968

Squamish Nation Fee for Service 1,746,157 1,537,491 1,541,758 1,569,241 1,549,458

11,696,500 10,458,700 10,120,569 9,594,159 8,554,720

LICENCES and PERMITS

Business Licences 741,606 735,647 712,538 689,150 671,693

Inspection Permits 1,754,429 2,543,652 2,742,699 2,224,059 2,583,720

Other 425,814 311,308 300,233 476,813 253,464

2,921,849 3,590,607 3,755,470 3,390,022 3,508,877

OTHER REVENUE

Property Rentals 1,361,752 964,467 937,542 786,405 772,818

Utility and Transit Admin Fees 189,653 470,507 442,550 438,400 414,350

Investment Interest 399,457 583,587 779,744 946,840 1,392,544

Tax Penalties and Interest 563,654 505,408 451,233 396,297 346,799

Miscellaneous 1,163,296 2,944,688 583,990 111,747 473,261

3,677,812 5,468,657 3,195,059 2,679,689 3,399,772

GOVERNMENT GRANTS

Revenue Sharing 970,258 864,845 857,982 752,665 718,101

Library 210,555 208,701 200,007 209,746 187,892

Other 89,824 157,076 65,595 127,731 83,038

1,270,637 1,230,622 1,123,584 1,090,142 989,031

TOTAL GENERAL FUND 71,757,790 70,864,498 66,105,273 62,711,122 60,339,156



REVENUES



2009 2008 2007 2006 2005

SUMMARY BY FUND

ONGOING REVENUES

General Fund

General Taxation 52,190,992 50,115,912 47,910,591 45,957,110 43,886,756

Fees and Charges 11,696,500 10,458,700 10,120,569 9,594,159 8,554,720

Licences and Permits 2,921,849 3,590,607 3,755,470 3,390,022 3,508,877

Other Revenue 3,677,812 5,468,657 3,195,059 2,679,689 3,399,772

Government Grants 1,270,637 1,230,622 1,123,584 1,090,142 989,031

71,757,790 70,864,498 66,105,273 62,711,122 60,339,156

Less Administration Fees (400,000) (398,600) (339,900) (312,000) (287,950)

71,357,790 70,465,898 65,765,373 62,399,122 60,051,206

Solid Waste Fees and Revenues 2,205,197 2,244,787 2,303,172 2,119,196 2,156,995

Water Utility Fees and Revenues 7,928,660 6,739,779 8,859,616 6,140,112 5,644,597

Sewer Utility Fees and Revenues 7,438,726 6,574,436 6,606,026 5,675,343 5,001,286

Cemetery Fees and Revenues 880,526 853,176 922,869 995,336 818,360

Golf Fees and Revenues 1,297,535 1,314,215 1,189,684 1,236,849 1,283,392

Transit Reimbursements 12,276,782 11,545,526 10,443,275 9,784,434 8,700,651

Gain on Sale of Land - 198,739 1,691,523 6,449,479 52,468

Development Cost Charges 1,183,395 2,420,561 506,642 668,902 1,469,675

Other Contributions for Capital 2,975,294 4,061,486 411,132 185,574 718,200

2010 Olympic Venue 1,483,052 - - - -

Third Party Works 813,317 2,166,982 1,522,962 1,888,765 1,029,300

Interest Earned on Reserve Funds 1,691,179 1,628,017 1,846,104 1,175,918 1,297,658

Debt Sinking Fund Surplus Refunds - - 535,412 221,331 749,016

111,531,453 110,213,602 102,603,790 98,940,361 88,972,804

SIGNIFICANT REVENUE RATE STRUCTURES

Based on average residential

assessment of 1,421,135 1,412,603 1,228,998 1,026,331 892,496

Property taxation -

Rate increase % 2.95% 3.50% 2.43% 3.52% 1.95%

Municipal portion only 2,998.61 2,881.53 2,755.83 2,661.95 2,552.74

Flat rate utilities -

(net of applicable discounts)

Garbage collection 27.50 20.25 20.25 81.00 81.00

Recycling 7.00 14.25 14.25 57.00 57.00

Water and Sewer rates are consumption based and not necessarily comparable form year to year


REVENUES - continued





REVENUES - continued


General Revenue Sources

-

10

20

30

40

50

2009 2008 2007 2006 2005

Mill

ions

Taxation Fees & Chgs Lic & PermitsOther Govt Grants

Revenues - All Funds

-1020304050607080

2009 2008 2007 2006 2005

Mill

ions

General Solid Waste WaterSewer Cemetery Transit



2009 2008 2007 2006 2005

GENERAL FUND

ONGOING EXPENDITURES BY FUNCTION

ADMINISTRATION

Mayor and Council 401,464 375,696 350,029 331,261 327,784

Chief Administrative Officer 584,837 442,874 451,549 449,483 452,543

Legislative Services 631,447 724,315 804,436 760,621 863,653

Communications 380,337 359,134 313,851 279,063 273,052

1,998,085 1,902,019 1,919,865 1,820,428 1,917,032

TCA Amortization & Adjustments (4,318) (12,359) - - -

1,993,767 1,889,660 1,919,865 1,820,428 1,917,032

SUSTAINABILITY and CULTURE

Deputy CAO 230,106 - - - -

Cultural Services 1,434,823 1,373,363 1,464,953 1,536,325 1,167,419

Environmental Services 182,362 207,049 97,759 120,561 151,859

Emergency Program 193,769 140,212 174,009 127,243 116,979

2,041,060 1,720,624 1,736,721 1,784,129 1,436,257


2,036,649 1,709,444 1,736,721 1,784,129 1,436,257

HR and PAYROLL 971,701 1,010,927 976,697 880,246 883,084


969,601 1,004,358 976,697 880,246 883,084

FINANCIAL SERVICES

Finance 1,045,541 946,193 928,054 882,387 817,840

Taxes and Utilities 295,498 327,026 360,910 343,151 318,049

Information Systems 1,701,472 1,649,801 1,629,898 1,504,696 1,255,124

Business Support 370,336 486,000 480,197 466,342 460,042

Facilities Management 539,336 284,913 363,089 326,292 293,575

3,952,183 3,693,933 3,762,148 3,522,868 3,144,630

TCA Amortization & Adjustments 741,684 766,670 - - -

4,693,867 4,460,603 3,762,148 3,522,868 3,144,630

POLICE SERVICES 12,222,956 11,824,844 11,490,857 10,126,825 9,671,369


12,805,252 12,408,367 11,490,857 10,126,825 9,671,369



EXPENDITURES


2009 2008 2007 2006 2005

FIRE and RESCUE SERVICES 12,100,463 11,548,711 11,468,741 10,445,831 10,048,094


12,653,566 12,180,133 11,468,741 10,445,831 10,048,094

ENGINEERING and TRANSPORTATION

Engineering Services 960,619 1,351,729 1,284,539 1,320,910 1,188,847

Roads and Traffic 2,318,929 2,665,681 1,984,415 2,036,585 1,871,356

3,279,548 4,017,410 3,268,954 3,357,495 3,060,203

TCA Amortization & Adjustments 2,442,496 3,183,433 - - -

5,722,044 7,200,843 3,268,954 3,357,495 3,060,203

PLANNING and LANDS

Planning and Development 1,627,623 1,547,910 1,508,332 1,360,630 1,313,508

Permits and Inspections 1,136,736 1,208,184 1,158,108 1,115,305 1,069,589

Bylaw Enforcement 832,352 780,021 750,436 811,320 734,227

3,596,711 3,536,115 3,416,876 3,287,255 3,117,324

TCA Amortization & Adjustments 21,758 (22,209) - - -

3,618,469 3,513,906 3,416,876 3,287,255 3,117,324

PARKS and COMMUNITY SERVICES

Central Administration 442,586 519,527 422,919 381,201 360,012

Community Services 10,685,586 10,274,962 9,639,781 8,984,777 8,777,948

Parks Maintenance 4,579,551 4,323,805 4,320,471 4,210,976 4,044,546

15,707,723 15,118,294 14,383,171 13,576,954 13,182,506

TCA Amortization & Adjustments 3,753,344 2,892,145

19,461,067 18,010,439 14,383,171 13,576,954 13,182,506

LIBRARY SERVICES 3,793,200 3,663,060 3,482,299 3,433,484 3,194,576


4,317,979 4,215,672 3,482,299 3,433,484 3,194,576

TOTAL GENERAL FUND 68,272,261 66,593,425 55,906,329 52,235,515 49,655,075



EXPENDITURES - continued


2009 2008 2007 2006 2005

EXPENDITURES SUMMARY BY FUND

General Fund

(Divisional functions)

Administration 1,993,767 1,889,660 1,919,865 1,820,428 1,917,032

Sustainability and Culture 2,036,649 1,709,444 1,736,721 1,784,129 1,436,257

HR and Payroll 969,601 1,004,358 976,697 880,246 883,084

Financial Services 4,693,867 4,460,603 3,762,148 3,522,868 3,144,630

Police Services 12,805,252 12,408,367 11,490,857 10,126,825 9,671,369

Fire and Rescue Services 12,653,566 12,180,133 11,468,741 10,445,831 10,048,094

Engineering and Transportation 5,722,044 7,200,843 3,268,954 3,357,495 3,060,203

Planning and Lands 3,618,469 3,513,906 3,416,876 3,287,255 3,117,324

Parks and Community Services 19,461,067 18,010,439 14,383,171 13,576,954 13,182,506

Library Services 4,317,979 4,215,672 3,482,299 3,433,484 3,194,576

68,272,261 66,593,425 55,906,329 52,235,515 49,655,075

General Operating Other 1,901,984 1,841,803 1,876,345 2,044,340 1,779,162

Solid Waste Operating 2,710,796 1,850,002 1,744,667 1,724,780 1,682,466

Water Utility Operating 9,579,435 7,454,930 3,977,858 3,883,542 3,405,720

Sewer Utility Operating 10,601,722 10,486,317 5,484,746 5,193,472 4,978,397

Cemetery Operating 579,682 586,219 520,632 467,679 392,937

Golf Operating 1,041,527 995,353 958,345 885,083 878,081

Transit Operating 12,276,782 11,545,526 10,443,275 9,784,434 8,700,651

Interest on Long Term Debt 575,911 160,911 336,087 608,816 507,110

Other Interest and Bank Charges 1,149,271 1,222,766 513,475 437,032 193,323

Special Projects 405,840 1,581,977 671,676 690,877 165,210

2010 Olympic Venue 1,754,455 - - - -

Third Party Works 793,317 2,136,304 1,282,943 1,272,756 919,647

Capital Expenditures - - 34,760,729 18,958,611 20,098,523

111,642,983 106,455,533 118,477,107 98,186,937 93,356,302

EXPENDITURES BY OBJECT

Wages, Salaries and Benefits 60,349,140 56,154,376 55,059,445 51,945,871 48,606,692

Operating Goods and Services 49,568,661 48,917,480 27,807,371 26,236,607 23,950,654

Capital Expenditures - - 34,760,729 18,958,611 20,098,523

Interest and Other Bank Charges 1,725,182 1,383,677 849,562 1,045,848 700,433

111,642,983 106,455,533 118,477,107 98,186,937 93,356,302









General Fund - Divisional Expenditures

-2468101214161820

AdminSust

&Cultu

reHR

&Pay

roll

Financ

e

Police

FireEngin

eerin

gPlan

ningPark

s &Rec

Library

Mill

ions

2009 2008 2007 2006 2005

Expenditures by Object - All Funds

-

10

20

30

40

50

60

Wages, Salaries &Benefits

Operating Goods &Services

Capital Expenditures Interest & Other BankCharges

Mill

ions

2009 2008 2007 2006 2005




2009 2008 2007 2006 2005

DEBT PRINCIPAL OUTSTANDING

GENERAL FUND

(annual payments recovered through general

taxation, specified area levies, and long term lease agreement)

Dundarave Revitalization - - - - -

Ambleside Revitalization - - - 482,493 439,955

Ambleside Underground Wiring 203,972 249,041 291,966 332,846 628,256

Future Debt Issues 14,144,659 13,127,405 10,000,000 - 707,262

14,348,631 13,376,446 10,291,966 815,339 1,775,473

WATER UTILITY FUND

(annual payments recovered through

water user rate structure)

Infrastructure Renewal 10,790,637 2,629,243 2,762,046 2,889,290 3,011,211

Future Debt Issues 12,330,418 19,214,780 13,411,231 6,000,136 4,460,726

23,121,055 21,844,023 16,173,277 8,889,426 7,471,937

37,469,686 35,220,469 26,465,243 9,704,765 9,247,410

DEBT OUTSTANDING PER CAPITA

General Fund 322.79 300.92 233.39 18.42 40.38

Water Utility Fund 520.14 491.41 366.77 200.79 169.94

842.92 792.33 600.16 219.21 210.33



DEBT and DEBT SERVICE



2009 2008 2007 2006 2005

ANNUAL DEBT SERVICE

GENERAL FUND

From Operations

Principal 21,680 21,680 88,455 156,631 151,001

Interest 44,803 44,803 167,877 191,114 230,003

66,483 66,483 256,332 347,745 381,004

Other Repayments

Sinking Fund earnings applied 23,391 21,245 434,918 96,241 612,741

89,874 87,727 691,250 443,986 993,745

WATER UTILITY FUND

From Operations

Principal 138,608 132,803 127,244 107,481 30,243

Interest 409,245 132,588 168,210 417,702 277,107

547,853 265,391 295,454 525,183 307,350

Other Repayments

Dev Cost Charges applied - - - - -

Sinking Fund earnings applied - - - 14,439 12,311

547,853 265,391 295,454 539,622 319,661

COMBINED

From Operations

Principal 160,288 154,483 215,699 264,111 181,244

Interest 454,048 177,391 336,087 608,816 507,110

614,336 331,874 551,786 872,927 688,354

Other Repayments of Principal

Dev Cost Charges applied - - - - -

Sinking Fund earnings applied 23,391 21,245 434,918 110,680 625,052

637,727 353,118 986,704 983,607 1,313,406

DEBT CHARGES TO OPERATIONS AS

% OF TOTAL EXPENDITURES

General Fund 0.097 0.100 0.459 0.666 0.767

Water Utility Fund 5.719 3.560 7.427 13.523 9.025

DEBT SERVICE LIMITS

Annual debt service total limit 23,698,875 22,811,101 21,819,058 21,721,232 21,254,264

% Utilized 2.59 1.45 2.53 7.81 3.24

Annual debt service permitted

without obtaining assent

of electors 4,739,775 4,562,220 4,363,812 4,344,246 4,250,853

% Utilized 12.96 7.27 12.64 39.05 16.19

SUPPLEMENTARY INFORMATIONDISTRICT OF WEST VANCOUVER


DEBT and DEBT SERVICE (continued)




DEBT and DEBT SERVICE - continued


Total Debt Outstanding

-5

10152025303540

2009 2008 2007 2006 2005

Mill

ions

General Fund Water Fund

Debt per Capita

0100200300400500600700800900

2009 2008 2007 2006 2005

General Water

West Vancouver has historically taken a conservative approach to debt, borrowing mainly for revitalization projects in Ambleside and Dundarave, and for infrastructure improvements in the water utility. The revitalization projects involved cost recovery from benefiting business properties, and as of 2009 were virtually all paid out. The water utility infrastructure borrowings have been serviced from the water user rate. Thus there has been no general tax supported debt in the District.Currently, in order to capture the value relating to our own water source and to implement an innovative partnership to provide community medical facilities within the new Community Centre, long term debt balances will be increasing significantly � but continue on the basis of being repaid from sources other than general taxation. New Water Fund debt is in accordance with the Water Conservation Strategy (implementation of universal metering), and the Eagle Lake Development Plan (development of the Eagle Lake source, and implementation of the membrane filtration facility). Debt service requirements have been built into the water user rate structure since the inception of those plans, and reflect a net savings to West Vancouver residents over what the long-term user rate would have been without development of the local water source.New debt requirements in the General Fund will cover the capital costs of our partnership with Vancouver Coastal Health Authority, and other third party lessees, in the new Community Centre. The servicing requirements of this debt are covered by a 30 year long term lease agreement with the Health Authority, and lease and rental agreements with other third parties.



2009 2008 2007 2006 2005

GENERAL FUND

Operating Surplus (Deficit) 240,259 234,521 (496,362) 2,573,468 3,475,505

Endowment Fund 15,751,359 16,675,938 29,718,932 29,018,836 27,212,052

Capital Facilities Reserve 1,503,921 1,427,390 4,431,483 3,006,875 1,686,382

Infrastructure Fund 1,031,737 409,118 - 254,416 907,163

Capital Reserves 1,560,780 835,323 1,612,992 1,240,197 1,342,940

Community Amenity Reserve 778,518 782,000 - - -

Operating Reserves 2,244,548 3,018,476 2,365,505 2,024,398 2,295,944

Golf Development Fund 55,057 61,893 1,033,472 983,416 956,839

23,166,179 23,444,659 38,666,022 39,101,606 37,876,825

Development Cost ChargesHighways 4,791,720 4,462,874 4,218,883 3,984,174 3,835,064

Underground Wiring 1,161,410 1,087,962 1,030,382 970,531 928,360

Parks and Open Space 11,665,085 11,449,521 12,693,707 11,867,195 11,367,829

40,784,394 40,445,016 56,608,994 55,923,506 54,008,078

WATER UTILITY FUND

Operating Surplus (Deficit) 2,368,105 2,495,753 2,115,021 1,298,085 1,227,808

Development Cost Charges 143,769 56,971 803 14,032 -

2,511,874 2,552,724 2,115,824 1,312,117 1,227,808

SEWER UTILITY FUND

Operating Surplus 446,500 194,966 501,749 292,657 361,969

Capital Reserve 38,016 35,722 33,982 32,336 326,187

Development Cost Charges 3,768,578 4,080,764 4,247,981 4,364,284 4,562,560

4,253,094 4,311,452 4,783,712 4,689,277 5,250,716

CEMETERY FUND

Development Fund 1,662,637 1,707,163 1,454,371 1,159,300 873,628

ALL FUNDS COMBINED 49,211,999 49,016,355 64,962,901 63,084,200 61,360,230

SUMMARYOperating Surplus 3,054,864 2,925,240 2,120,408 4,164,210 5,065,282Reserves 24,626,573 24,953,023 40,650,737 37,719,774 35,601,135Development Cost Charges 21,530,562 21,138,092 22,191,756 21,200,216 20,693,813

49,211,999 49,016,355 64,962,901 63,084,200 61,360,230



SURPLUS, RESERVES and DEVELOPMENT COST CHARGES





2009 2008 2007 2006 2005

CAPITAL EXPENDITURES

GENERAL FUND

Infrastructure Maintenance:

Computers & Communications 627,343 538,794 394,091 1,372,703 1,499,728

Equipment & Furnishings 682,597 594,540 693,092 616,211 594,840

Facilities Maintenance 783,712 647,080 667,126 624,627 1,236,648

Fleet Replacements 1,206,000 883,325 1,326,065 1,159,742 1,728,781

Parks & Grounds 1,061,001 1,182,215 1,297,373 1,091,609 1,108,633

Streets & Roads 2,937,630 1,976,255 3,073,414 2,849,012 2,945,486

7,298,283 5,822,209 7,451,161 7,713,904 9,114,116

Major Projects and Other 9,162,859 29,596,427 14,772,867 6,649,523 3,239,742

16,461,142 35,418,636 22,224,028 14,363,427 12,353,858

WATER UTILITY FUND

System & Other Replacements 1,051,816 918,246 900,060 1,217,244 804,255

Eagle Lake Development 1,415,638 6,253,549 9,906,353 317,137 545,770

Universal Metering - - 448,598 1,654,803 4,453,943

2,467,454 7,171,795 11,255,011 3,189,184 5,803,968

SEWER UTILITY FUND

Sewer System Replacements 716,010 876,859 763,188 726,183 945,610

Storm Drainage Improvements 662,724 400,000 386,469 402,191 405,735

Sunset Treatment Plant - - - - -

1,378,734 1,276,859 1,149,657 1,128,374 1,351,345

CEMETERY FUND

Capital Improvements 404,595 108,415 132,033 277,626 589,352

20,711,925 43,975,705 34,760,729 18,958,611 20,098,523



INFRASTRUCTURE and CAPITAL PROGRAMS



ABOUT THIS REPORT

Cover photo: Jeff OatesOther photography provided by: Claudette Carracedo, Ken Dyck - Urbanpictures.com,

Jon Pesochin, David Smith, Craig Alfredson, and District of West Vancouver Staff

“Gordon House” image on page 21 provided by Mike Wakefield, North Shore News

Designed and prepared by the Communications Department, produced by the Finance Department. This report is printed as needed on-demand to reduce wasted resources

Documents

District of West Vancouver 2009 Annual Report · 2018. 10. 12. · WEST VANCOUVER — 1 District of West Vancouver Annual Report—For the year ending December 31st, 2009 Vision West