best practices: best annual reporting - civicinfo · 2013-12-13 · and represents a significant...

Union Of British Columbia MunicipalitiesCommunity Excellence Awards

Best Practices:Best Annual Reporting

Submitted by the City of CoquitlamJune 20, 2005

SUMMARY The City of Coquitlam upholds the highest standards of financial planning and reporting, and has been repeatedly recognized with Financial Reporting awards by the Government Finance Officers Association of the United States and Canada. These awards recognize municipalities who adhere to best practices in financial reporting and publish high-quality financial reports. In Coquitlam, Council’s commitment to responsive, accountable and transparent government is evident in both its Annual Report and Five-Year Financial Plan along with Coquitlam’s actions to align financial planning and operations with strategic goals and objectives. Coquitlam has also enhanced its annual reporting function by developing and distributing a user-friendly Annual Report highlights brochure to provide residents with an at-a-glance summary of the past year. LINKING PLANNING AND RESULTS The City of Coquitlam’s Annual Report 2004 connects the various significant components which guide and determine the Corporation’s progress. These include Coquitlam’s:

• Strategic Plan • Business Plan • Projects/Initiatives • Citizen Satisfaction Survey Results • External Audit • Departmental Overviews • Consolidated Financial Statements • Statistical Analyses

The presentation in one document of the combination of elements enables the reader to understand and assess the City’s performance in relation to its short, medium, and longer term plans. COMMUNICATING EFFECTIVELY The Annual Report 2004 is written to be readily understandable by a broad audience and it made available as both a printed document and online via Coquitlam’s website. To this end, the Annual Report makes extensive use of pictures, graphics, and user-friendly graphs. As well, Coquitlam’s Annual Report Highlights brochure provides for wider distribution. It is ideal for displays at City facilities and is used for promotional kits provided to prospective investors and at economic development trade shows and conferences.

REPORTING ON GOALS AND OBJECTIVES For a number of years, the City has undertaken an independent, statistically valid telephone survey of its residents. This survey is used to help identify community priorities as part of the financial planning process, and it provides direct measurement on Coquitlam’s four key goals: Live, Work, Play and Leadership. The 2004 Annual Report provides both a summary of the survey results and a report on the measures used for the four goals. For each goal area, there is also a list of specific achievements for the past year that directly support that goal. As well, each department provides At a Glance highlights of its activities for the past year. These activities relate primarily to ongoing processes for operations – the services and programs delivered to Coquitlam each year as compared to special projects or one-time initiatives. Together, these highlights provide residents, business owners and prospective investors with an excellent overview of the projects and ongoing activities that contribute to Coquitlam’s successful achievement of its goals. BUILDING FINANCIAL SUSTAINABILITY The City has adopted a number of unique Long Range Financial Policies that are intended to ensure the sustainability of the community’s infrastructure. Please refer to the Letter of Transmittal on pages 14 and 15 of the Annual Report 2004. EXEMPLIFYING EXCELLENCE The City of Coquitlam’s Annual Report 2004 continues to meet the stringent criteria identified by the Government Finance Officers Association. These criteria encompass both the comprehensive financial reporting requirements provided in the financial statements and clearly defined standards for reporting on objectives and providing a clean, well-design report. Coquitlam has won the Government Finance Officers Association Canadian Award for Financial Reporting for the past three years and will submit its 2004 Annual Report for consideration as Coquitlam believes the current report continues to conform to the award requirements. In order to receive this prestigious award, a government unit must publish an easily-readable and efficiently-organized annual financial report, whose contents conform to program standards. Such reports must 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.

ADDRESSING THE CITY’S CORPORATE OBJECTIVES Coquitlam’s commitment to a detailed and comprehensive Annual Report is consistent with City Council’s vision for Coquitlam as “a community where people choose to live, work, and play.” The project specifically addresses the following Corporate Objectives: • Optimize Our Resources

Manage costs and align our resources with our strategic priorities to enable the City government to respond effectively to increasing and challenging demands for services.

• Continually Improve Our Community Strive for continuous improvement in all our process, services and products to support a community where people choose to work, live and play.

• Understand Current and Future Needs

Identify and prioritize customers’ current and future needs, and inform the community through communication and customer relationships to promote mutual understanding.

Government Finance Officers Association 203 North LaSalle Street, Suite 2700 Chicago, Illinois 6060 1 - 12 10 312.977.9700 fax: 312.977.4806

December 23,2004

Ms. Sheena MacLeod Manager Financial Services City of Coquitlam 3000 Guildford Way Coquitlam, British Columbia V3B 7N2

Dear Ms. MacLeod:

We are pleased to notify you that your annual financial report for the fiscal year ended December 3 1,2003 qualifies for a Canadian Award for Financial Reporting (CAnFR). The CAnFR recognizes excellence in governmental accounting and financial reporting and represents a significant accomplishment by a municipal government and its management. Congratulations on having met the high standards of the CAnFR program. We hope that your example will encourage others in their efforts to achieve and maintain excellence in financial reporting.

Each entity submitting a report to the Canadian Award for Financial Reporting program review process is provided a "Summary of Grading Results" form and a confidential list of comments and suggestions for improvements. Your list of comments and suggestions has been enclosed. We strongly encourage you to implement these recommendations in your next report. Also, we request that you provide a detailed written response to each of these suggestions along with next year's submission. These responses will be needed by the judges who will be selected to review your next report.

Your Canadian Award for Financial Reporting plaque will be shipped under separate cover. As a holder of a current CAnFR, you may include a reproduction of the plaque in your next annual financial report. A camera-ready copy of your certificate will be forwarded to you for this purpose under a separate cover in about eight weeks.

We have enclosed an application form to facilitate the submission of your next report. This application should be returned to the GFOA (i.e., postmarked) no later than June 30, 2005. This application should be accompanied by three copies of your annual financial report, three copies of your written responses to this year's comments and suggestions for improvement, a check for the review fee, and any other material you deem appropriate.

Sheena MacLeod December 23,2004 Page 2

Your interest in and support of the Canadian Award for Financial Reporting program is most appreciated. If we may be of any further assistance, please do not hesitate to contact us.

Yours very truly,

GOVERNMENT FINANCE OFFICERS ASSOCIATION

Stephen J. Gauthier DirectorITechnical Services Center

Enclosures

City ofCoquitlamAnnual Report 2004For year ending December 31, 2004

British Columbia

Prepared by City of Coquitlam Financial Services

City of CoquitlamAnnual Report2004

BACK ROW (left-right)

Councillor Mae ReidCouncillor Fin DonnellyCouncillor Bill LeClairCouncillor Louella Hollington

FRONT ROW

Councillor Barrie LynchCouncillor Diane ThorneMayor Jon KingsburyCouncillor Maxine WilsonCouncillor Kent Becker

Coquitlam Mayor and City Council

CITY OF COQUITLAM AN NUAL REPORT 2004 i

CITY OF COQUITLAM ANNUAL REPORT 2004 1

Table of Contents

Introductory SectionCoquitlam Mayor and City Council .....................................iOur Vision .................................................................................2Message from Mayor Jon Kingsbury .................................32004 Civic Directory ..............................................................4Regional Map...........................................................................4Organizational Chart .............................................................5Canadian Award for Financial Reporting.........................6Coquitlam’s Strategic Plan ...................................................7Coquitlam’s Business Plan ...................................................9Progress Towards Goals ......................................................10Coquitlam Rates High with Residents.............................12Letter of Transmittal ............................................................14Departmental Overviews

Manager’s Office ...........................................................16Corporate Services .........................................................17Fire/Rescue ......................................................................18Leisure and Parks ...........................................................19Engineering and Public Works ..................................20Planning and Development ........................................21RCMP Coquitlam Detachment...................................22

Financial SectionAuditors’ Report to the Mayor and Council...................24Consolidated Statements

Financial Position ..........................................................25Financial Activities .......................................................26Changes in Financial Position ....................................27

Notes to Consolidated Financial Statements ...............28Auditors’ Report on Supplementary Information to the Mayor and Council...........................43General Fund

Statement of Financial Position ...............................44Statement of Financial Activities .............................45

Water Utility Fund Statement of Financial Position ...............................46Statement of Financial Activities..............................47

Sewer and Drainage Utility FundStatement of Financial Position ...............................48Statement of Financial Activities .............................49

Reserve Fund Balances .......................................................50

Financial Statements of Coquitlam Public Library Board.........................................53

Auditors’ Report to the Chair and Membersof Coquitlam Public Library Board............................54Statement of Financial Position ................................55Statement of Financial Activities .............................56Statement of Changes in Financial Position..........57Notes to Financial Statements..................................58

Statistical SectionRevenues by Source ............................................................64Property Tax Collection, Other Major Levies and Collections .....................................................................64Building Permits and Total Tax Collection.....................64Total Value of Building Permits ........................................65Expenditures by Object ......................................................65Expenditures by Function ..................................................65Summary of Statutory Reserve Funds............................66Assessed Values for General Municipal Purposes.............................................662004 Assessment and Taxation by Property Class ..................................................................67Coquitlam Debt Per Capita................................................67Gross and Net Long-Term Debt ........................................67Capital Expenditures Per Capita ......................................68Capital Expenditures by Fund...........................................68Capital Expenditures by Source .......................................68Accumulated Surplus..........................................................69Surplus for the Year.............................................................69Accumulated Surplus Per Capita .....................................69General Long-Term Debt Charges as a % of Total General Expenditures ..........................................70Legal Debt Limit ...................................................................70Population Estimate ............................................................70Comparison of the Average 2004Annual Tax Bill for All City Services to Other Standard Household Costs .....................................712004 Expenditures................................................................712004 Revenue Sources.........................................................71Principal Corporate Taxpayers ...........................................72Permissive Tax Exemptions ................................................73

CITY OF COQUITLAM AN NUAL REPORT 2004 2

Our Vision

Achieving this vision results in a community:• Where people choose to live and stay;• Where citizens feel safe and secure;• With a wide range of housing choices;• With ample parkland and natural

green space;• Where businesses choose to locate

and expand;• Where residents can choose to work

close to home;

he vision for Coquitlam is a community where people choose to live, work and play.T

We serve the public interest throughleadership, innovation and a focus oncommunity priorities and strengths.

OUR MISSION

• Where there are transportation choices;• That provides leisure, educational, cultural and

shopping choices close to home;• Where resources are available to meet the

current and future social, economic andenvironmental needs of the community;

• That is well-served by an effective and efficient City government; and

• That welcomes everyone, values culturaldiversity and provides opportunities andchoices to participate fully in community life.


n behalf of City Council, I am pleased topresent the 2004 Annual Report for the

City of Coquitlam. This report includes acomprehensive summary of Coquitlam’sFinancial Statements, along with a summary of our major accomplishments and how theyalign with our strategic goals.When we announced our financial plan for2004, our focus was on “Building a SustainableInfrastructure” and we have embarked on anumber of important projects to attain thisgoal. We completed the $2.78 million CharlesBest artificial turf field, completed the Upperand Lower Hyde Creek Village area plans –which include some proactive sustainabledevelopment principles – and made significantprogress towards both the new Poirier AquaticFacility and the David Avenue Connector. Severalof these projects have been made possiblethanks to significant contributions throughCoquitlam’s Municipal Capital Fund, which usescasino revenues to invest in capital projects tobenefit our city.Coquitlam residents have also told us thattransportation remains their number onepriority, and in 2004 we completed upgrades to major roads such as Marmont Street andPinetree Way. We made traffic managementimprovements on Austin, Clark and Como Lakeand added capacity improvements on BarnetHighway/Lougheed Highway from Falcon toWestwood. These types of road improvementscontinue to contribute to building a sustainableinfrastructure for Coquitlam.Another critical component to achieving ourCity’s vision of being a community where peoplechoose to live, work and play is to implementresponsible financial policies that will provideCoquitlam with sufficient reserve funds forcontinued infrastructure upgrades andreplacement, as well as financial stability in the long term. Over the past several years,Coquitlam Council has introduced a number ofprogressive financial policies to secure the long-

term financial position for the City. By applyingthese policies, Coquitlam is moving towardachieving a fully-funded road improvementprogram, a self-sustaining Drainage Utility, aninfrastructure reserve to fund the replacementof aging infrastructure and a healthy balance in general reserve funds.With these sound financial managementpractices, Coquitlam Council is building animpressive legacy that will benefit thiscommunity in both the near and distant future.

Jon D.H. KingsburyMayor

Message from Mayor Jon Kingsbury

Coquitlam Council is building animpressive legacy that will benefitthis community in both the near and distant future.

O


CITY OF COQUITLAM 2004 Civic Directory

MAYOR Jon Kingsbury

COUNCILLORS Kent BeckerFin DonnellyLouella HollingtonBill LeClairBarrie LynchMae ReidDiane ThorneMaxine Wilson

AUDITORS KPMG Chartered Accountants

BANKER Scotia Bank

OFFICIALS W. JonesCITY MANAGER

T. WingroveGENERAL MANAGER CORPORATE SERVICES

K. WrightGENERAL MANAGER ENGINEERING & PUBLIC WORKS

E. ChuACTING GENERAL MANAGER PLANNING & DEVELOPMENT

B. ElliottGENERAL MANAGER LEISURE & PARKS SERVICES

G. BuchananFIRE CHIEF

D. SaigleACTING RCMP OFFICER IN CHARGE

COQUITLAM

VANCOUVER

NORTH VANCOUVER

WEST VANCOUVER

NEW WESTMINSTER

PORT MOODY

BURNABY

RICHMOND SURREY

DELTA

WHITE ROCK

LANGLEY

PORTCOQUITLAM

PITT MEADOWS

MAPLE RIDGE

BELCARRA

NORTHANMORE

REGIONAL MAPRegional Map


CITY OF COQUITLAM Organizational Chart

COQUITLAM

K. BeckerF. DonnellyL. Hollington

B. LeClair

B. LynchM. Reid

D. ThorneM. Wilson

J. Kingsbury

Councillors

Mayor

Advisory Committees & Boards

Appointed By Council

Manager’s OfficeCity Manager

W. Jones

RCMPActing Officer In Charge

D. Saigle

General ManagerEngineering & Public Works

K. Wright

General ManagerCorporate Services

T. Wingrove

Manager InfrastructureMaintenance

M. Iviney

Manager Design& Construction

D. Currie

Manager TrafficOperations

M. Zaborniak

Manager GeomaticsH. Wong

Manager UtilityProgramsD. Soong

Manager CorporateCommunications

T. Mickelson

Manager Financial Services

S. MacLeod

City SolicitorD. Brown

City ClerkS. Santarossa

Manager Information &Communications

TechnologyR. Adams

Manager CommunityPlanningR. Innes

Manager FacilitiesDivision

C. Cairncross

Acting General ManagerPlanning &

Development E. Chu

General ManagerLeisure & Parks

Services B. Elliott

Fire ChiefG. Buchanan

ManagerEconomic Development

A. Ordge

Manager CorporatePlanning J. Wilkie

Manager Emergency Programs

D. Mason

ManagerHuman Resources

R. Haas

Manager BusinessServicesC. Haire

Manager DevelopmentServicesE. Chu

Manager LeisureServices

D. Leavers

Manager Parks & Open Space Services

M. Nihls

Deputy Fire CiefK. Roberts

Chief FirePrevention Officer

S. Gray

Chief TrainingOfficer

P. McPhillips


Canadian Award for Financial Reporting

he Government Finance OfficersAssociation of the United States and

Canada (GFOA) awarded a Canadian Award for Financial Reporting to the City ofCoquitlam for its Annual Report for the fiscalyear ended December 31, 2003. The CanadianAward for Financial Reporting program wasestablished to encourage municipalgovernments throughout Canada to publishhigh-quality financial reports, and to providepeer recognition and technical guidance forofficials preparing these reports.In order to be awarded a Canadian Award forFinancial Reporting, a government unit mustpublish an easily-readable and efficientlyorganized annual financial report, whosecontents conform to program standards. Suchreports should go beyond the minimumrequirements of generally acceptedaccounting principles, and demonstrate aneffort to clearly communicate the municipalgovernment’s financial picture, enhance anunderstanding of financial reporting bymunicipal governments, and address userneeds.A Canadian Award for Financial Reporting isvalid for a period of one year only. We believeour current report continues to conform to theCanadian Award for Financial Reportingprogram requirements, and we are submittingit to GFOA for their consideration.

T


Coquitlam’s Strategic Plan

trategic Plan 2003 is Coquitlam’s guide to activities,decisions and service delivery. This Strategic Plan

provides a critical focus for the organization byidentifying the vision for Coquitlam and aligns itsmission and goals to achieve Council’s vision. TheStrategic Plan is goal-oriented and includes the City’svision, mission, values and four cornerstone goals – Live, Work, Play and Leadership. Coquitlam’s other plans,such as the Business Plan, Citywide Official CommunityPlan and Five-Year Financial Plan flow from this guide andprovide the details on how City Council and staff willallocate funding and implement programs and services.Initiated in 1994 and updated every three years, theStrategic Plan is reviewed regularly and updated based

on community feedback through surveys and othercommunity input to ensure it remains focussed on goalsthat contribute directly to the vision, and that the strategicdirections for each goal are based on community priorities.

Our Values• Trust and Fairness• Pride• Staff Development• Imagination, Innovation and Recognition• Communication and Participation

S


GoalsLIVE

Create a safe and well-served communitythat abounds with opportunity andcapitalizes on its natural beauty and culture.

Strategic Directions• Convenient and Safe Transportation• Attractive and Affordable Housing• Celebrate Culture and Heritage• Distinctive Neighbourhoods• A Healthy and Safe Community• A Beautiful Natural Environment

PLAY

Create and promote a community withabundant green space and parks along witha full spectrum of entertainmentopportunities including recreation, sport andcultural pursuits that are accessible,affordable and available for all ages.

Strategic Directions• An Array of Recreational, Educational and

Cultural Services• Natural Advantages – Parks, Trails and Green

Space• Full Spectrum of Entertainment• Activities and Events for All Ages• Accessible and Affordable• Visitors Welcomed

WORK

Support a business-friendly community toleverage assets, attract diverse businessinterests and promote balanced living.

Strategic Directions• Well-managed Transit and Transportation• Diverse Employment and Business

Opportunities• Responsible and Involved Business Community• Balanced Living• Convenient and Innovative Business Services• Business-friendly

LEADERSHIP

Provide and enable effective andaccountable leadership with a focus onstrategic planning and policies, responsiblefiscal management, innovative andequitable programs, responsive, customer-focussed services and positive relationshipswith the community and other externalorganizations.

Strategic Directions• An Involved and Informed Community• Strategic Thinking with Long-term Planning• Positive External and Internal Relationships• Excellence in Customer Service• Effective and Efficient Service Delivery and

Management• Responsible and Accountable

Coquitlam’s Strategic Plan

From Vision to RealityThe key steps to making the Strategic Plan areality include reviewing the plan everythree years to keep it current, developingindicators to evaluate progress and report tothe community, upholding the policies andguidelines in the Citywide OfficialCommunity Plan, and updating the BusinessPlan and Five-Year Financial Plan to reflectthe vision, goals and strategic directions inthe Strategic Plan.


Coquitlam’s Business Plan

oquitlam is working strategically towardsCouncil’s vision of a community where

people choose to live, work and play. The goalsand values for the organization are identified in Strategic Plan 2003. The next step involvesdeveloping a Business Plan to provide the action plan for the organization. This includesidentifying city-wide objectives that supportthe organization’s strategic goals. Theseobjectives will fall into four categories:customer-related, financial, internal processesand operations and foundation objectivesrelated to values, learning and growth.The organization will use this plan to align its budget and other resources with thoseobjectives and Council’s priorities. The plan will also provide staff with an understanding of how their work contributes to achieving the goals for the organization, which in turnprovides a critical link between strategy,budget and action.Coquitlam’s Business Plan will outline howobjectives were developed to ensure theysupport the strategic goals, provide definitionsthat relate to strategic and business planningand identify the processes, projects andstrategic change initiatives for the organization.The high level financial and staff resources for

the departments will be included to providecontext for the allocation of resources as theyrelate to these processes and projects.The Business Plan also includes recommenda-tions for next steps to implement reportingmechanisms and provide tactics to track andmake adjustments to the objectives and strategic priorities based on changing needs in the community.With a Strategic Plan and Business Plan, the City of Coquitlam is better able to work as acohesive team towards achieving its goals, andultimately its vision for the community. Eachdepartment will develop its own objectives thatrelate directly to those at the corporate level.With the organization working towards sharedgoals and objectives, Coquitlam is more focussedon its priorities and strengths, can respond moreeffectively to changing community needs and isbetter able to deliver high quality programs andservices efficiently, which all contribute toachieving Council’s vision.

C


LIVE

97% of Coquitlam residents surveyed ratequality of life in Coquitlam as “good” or “very good.”• Developed “Emergency Disaster Response

Manual” and a fully equipped “Fire ControlCentre”

• Completed the Hyde Creek IntegratedWatershed Management Plan andImplementation Strategy

• Prepared the Upper and Lower Hyde CreekNeighbourhood Plans for NortheastCoquitlam

• Secured approval and funding from TransLinkfor the new David Avenue bridge crossing ofthe Coquitlam River

• Moved forward on processing majordevelopment projects across the City including:Polygon “Silver Springs” apartment andtownhouse project, Henderson “Obelisk”residential tower, Executive Inn mixed usedevelopment, Bosa Phase 1 “Westwood Square”project

• Constructed new watermain in Mundy Park to improve Emergency Response capability for Urban/Forest Interface

• Constructed the first “Special Crosswalks”in the City of Coquitlam

• Initiated highly reflective pavement markingprogram and special anti-skid paving(sponsored by ICBC)

• Constructed numerous sidewalks to improvepedestrian safety at elementary schools

WORK

53% of Coquitlam’s residents are employed full-time and 73% of those who work or attendschool are based either in Coquitlam or aneighbouring municipality.• Completed the 1st year of the Comprehensive

Pavement Rehabilitation Program• Completed the bridge foundations for the

David Avenue Connector (over CoquitlamRiver and Hyde Creek)

Progress Towards Goals

• Implemented the Pavement Cut RestorationStrategy

• Completed Phase 1 of the IntelligentTransportation System and the City Fibre-Optic Communications system

• Improved traffic signal coordination andtraffic safety on major traffic corridors

• Installed high efficiency lenses on all trafficsignals (sponsored by BC Hydro Power Smart)

• Completed Guildford Way Bicycle Lanesbetween Eagleridge Hospital and LansdowneDrive

• Refined and updated the Coquitlam TownCentre C-4 zoning

• Processed building permits for a totalconstruction value of $127 million

PLAY

88% of Coquitlam residents say they are highlysatisfied with Coquitlam’s recreational andcultural facilities and 86% are highly satisfiedwith the City’s recreational and culturalprograms.• Launched the Poirier Aquatic Facility project• Approved the Master Trail Plan and increased

the number of outdoor environmentalprograms

• Completed a new park on the Fraser River atthe mouth of Como Creek in conjunction withPacific Custom Log Sorting Company

• Prepared Coquitlam Youth Strategy Report


• Entered into new five-year agreement withPlanet Ice, significantly increasing the amountof community ice time

• Completed and opened for play, the newartificial turf field and field house at Dr.Charles Best Secondary School

• Supported Recreational and Cultural ServicesAdvisory Committee in the development of aCoquitlam Festivals Strategy and SeniorsFacility Strategy

LEADERSHIP

87% of residents surveyed say they receive goodvalue for their tax dollars and 96% say they arehighly satisfied with the overall level andquality of services.• Received re-accreditation by American Public

Works Association for public worksmanagement practices

• Created new Interface Forest Firefightingtraining to assist in the preparation andmitigation of emergencies involving a wildfirein our forested areas

• Created ‘Community Services’ section withinLeisure Services Division to address changingcommunity needs

• Prepared innovative Hyde Creek Low ImpactDevelopment Manual

• Prepared an inventory and strategy for HydeCreek Watershed Enhancement Opportunitiesbased on stakeholder input

• Prepared Comprehensive Landscape StrategyPhase 1

• Restructured Development Services frontcounter function to enhance customer service

• Initiated Environmental GeographicInformation System (GIS) mapping to providequick, direct access to this important spatialinformation

AWARDS

• Promotion Plus Organizational LeadershipAward for City’s role in Gender Equity

• The Consulting Engineers of BC - Award ofEngineering Excellence for the David AvenueConnector Habitat Compensation Design

• Planning Institute of B.C. 2004 Award forPlanning Excellence for the City’s innovativeStormwater Policy Manual and approach

• Government Finance Officers Association’sAward for Financial Reporting for Coquitlam’s2003 Annual Report

• Government Finance Officers Association’sDistinguished Budget Presentation Award forCoquitlam’s Five-Year Financial Plan

• Economic Development Association of CanadaDistinguished Marketing Award for CoquitlamAmbassador Program

• Economic Development Association of CanadaDistinguished Marketing Award forCoquitlam’s Tourism Passport

• International Association of BusinessCommunicator’s Blue Wave Award of Excellencefor customer service training program

Progress Towards Goals


Coquitlam Rates High with Residents

ach year the City of Coquitlam completes asurvey to collect input on community

priorities as part of its financial planningprocess, and to provide measurement of itsgoals. In its 2004 community consultationsurvey, Coquitlam’s quality of life scores high,with 97% of residents saying the quality of lifein Coquitlam is currently either “good” (59%) or“very good” (38%)—this is slightly above whatis reported by other BC municipalities. Surveyresults indicated that Coquitlam residents arevery positive and satisfied with theircommunity. Residents who believe thatCoquitlam offers a good or very good quality oflife attribute this to its convenient andaccessible location, attractive surroundings andlow crime rate. Transportation remains the topconcern and priority for residents.

E


Survey Highlights• In addition to being highly satisfied with their

quality of life, residents also demonstrate ahigh level of satisfaction with Coquitlam’sservices. In total, 96% are satisfied with“parks, trails, and other green space,” 88% are satisfied with “recreational and culturalfacilities,” and 86% are satisfied with“recreational and cultural programs.”

• Transportation concerns such as trafficcongestion (12%), poor quality or lack of publictransportation (10%), the condition of streets(8%) and other general concerns (13%) wereimportant issues. Transportation was also animportant issue in 2003 (47%), however theproportion mentioning transportation issueshas decreased slightly in 2004.

• Overall 87% of residents believe they receive“very good value” (25%) or “fairly good value”(62%) for their tax dollars. Residentsexpressed a general preference for increasedtaxes (48%) over service cuts (37%), and wouldprefer to “increase taxes to maintain servicesat current levels” (28%) rather than “increasetaxes to enhance or expand services” (20%).

• Approximately one half (53%) of Coquitlam’sresidents are employed full-time, 15% areretired, 11% are employed part-time, 10% arestudents, 7% are unemployed and 4% arehomemakers. Of those who are employed,(23%) say their employment or school is basedin Coquitlam. In comparison, half (50%) workor attend school in a neighbouringmunicipality, while a quarter (24%) are basedin Vancouver.

Coquitlam Rates High with Residents

• 20% of those surveyed mentioned crime andgeneral crime concerns, 7% listed policing andlaw enforcement, and safety and securitywere important to 4% of those surveyed.

This statistically-valid telephone survey wascompleted by Ipsos-Reid from April 28 to May 4,2004. The poll is based on a randomly selectedsample of 400 residents of Coquitlam who are18 years of age or older. With a sample of thissize, the results are accurate to within ± 4.9percentage points, 19 times out of 20, of whatthey would have been had the entire populationof Coquitlam residents aged 18 and over beensurveyed. These results were statisticallyweighted to ensure the sample’s age/gendercomposition reflects that of the actualCoquitlam population according to the 2001Census.


City of Coquitlam3000 Guildford Way, Coquitlam, bc v3b 7n2O≤ce: 604. 927. 3000 | Fax: 604.927. 3015www.coquitlam.ca

Letter of Transmittal

REPORT FROM THE CITY TREASURER

March 31, 2005Mayor and Council City of Coquitlam

Your Worship and Members of Council:

I am pleased to present the Annual Report for the fiscal year ending December 31, 2004. The purpose of thisreport is to publish the consolidated financial statements and Auditors’ Report for the City of Coquitlampursuant to Section 167 of the Community Charter. The preparation and presentation of the financialstatements and related information in the 2004 Annual Report is the responsibility of the Financial ServicesDivision. These statements have been prepared in accordance with generally accepted accounting principlesand the recommendations of the Public Sector Accounting Board of the Institute of Chartered Accountants andthe Provincial Ministry of Community, Aboriginal and Women’s Services. The City government maintains asystem of internal accounting controls designed to safeguard the assets of the corporation and provide reliablefinancial information. We also confirm and test these systems on a regular basis by contracted internal auditservices.

The audit firm of KPMG was appointed by Council and is responsible for expressing an opinion as to whetherthe consolidated financial statements, prepared by management, fairly present the financial position of theCity of Coquitlam and the results of its 2004 operations.

FINANCIAL OVERVIEW

2004 Operating Results

From a financial perspective, 2004 was a positive year for the City of Coquitlam. Assets have increased inexcess of $18 million while debt decreased by $3.4 million. The year ended with an operating surplus across allfunds of approximately $4 million which was primarily related to an unbudgeted transfer of traffic fine revenuefrom the Provincial Government, the elimination of GST payable, savings achieved on the City’s contract withthe Government of Canada for RCMP services and savings related to vacancies throughout the organization. Inaccordance with City policy, this surplus will be used to provide for any unfunded liabilities and contribute tothe City’s infrastructure program.

Investment Portfolio

It is the policy of the City of Coquitlam to invest City funds in a manner that will provide the optimal blend ofinvestment security and return while meeting the daily cash flow demands of the City government andcomplying with the statutory requirements of the Community Charter. Investment income increased in 2004,from $4.9 million to $6.2 million due to increased balances invested throughout the year. The average balanceinvested by the City of Coquitlam during the year was $136 million with an average rate of return of 2.86%.


Letter of Transmittal

Reserves

The City’s operating reserve funds remained relatively constant at $11 million as shown on the ConsolidatedStatement of Financial Position. These funds will be used to fund ongoing projects and potential liabilitiesrelated to tax appeals and insurance claims. The City’s capital reserves have increased from $68 million to $81million over the year. These funds along with development cost charges, shown as $19 million of deferredrevenue, will be used to fund capital projects in future years. Despite the size of these reserves, there are capitalneeds that have been identified in the capital planning process for which no funding sources currently exist.

Debt

Long-term debt outstanding at the end of 2004 is $18.8 million or $165 per capita, which is a decrease of $3.4million over the 2003 balance outstanding. The City of Coquitlam repaid debt of $3.4 million including sinkingfund growth in excess of $1 million.

Utilities

The City government operates two major utilities, which are funded by user fees.

The Sewer and Drainage Utility includes over 400 kilometres of pipes for the collection and transmission ofsewerage to the Greater Vancouver Sewerage and Drainage District’s (GVS&DD) Annacis Island Treatment Plant,and almost 500 kilometres of drainage pipelines and water courses to collect storm water to protect thecommunity from flooding. During 2004, the utility collected and conveyed sewerage and storm water fromapproximately 40,000 households and commercial customers. The total cost of this service during 2004 was$13.5 million of which approximately 55% was paid to the GVS&DD for sewerage treatment.

The Water Utility also uses over 400 kilometres of pipes to deliver water purchased from the Greater VancouverWater District (GVWD). During 2004, the utility provided water to approximately 40,000 households andcommercial customers. The total cost of this service during 2004 was $11 million, of which approximately 50%is paid to GVWD for the purchase of water.

Financial Sustainability

The following improvements in the City’s balance sheet can be seen as a result of a number of Long RangeFinancial Policies adopted by City Council aimed at ensuring the sustainability of City infrastructure:

• The City of Coquitlam’s accumulated surplus increased from $18.8 million in 2003 to $19.8 million in 2004 toachieve the targets set for the purpose of maintaining an appropriate balance to provide working capital,interest earnings and an emergency fund;

• Savings in the amount of $1 million achieved as a result of debt retirement was used to increase the City’sannual contribution to the capital program in the 2004 budget.

• $4 million of general fund surplus achieved during 2004 was contributed to an infrastructure reserve to fundinfrastructure renewal; and

• Revenue received through the Casino Host Agreement was contributed to a Casino reserve allocated as follows:• $1.8 million received to fund Community Capital Projects of which $1,057,579 was issued in grants to com-

munity organizations during the year.• $5.5 million received to fund Municipal Capital Projects. $7.9 million of the funds received in 2003 and

2004 have been allocated to the City’s 2005 budget to fund priority infrastructure projects.

These Council policies are a very positive step in ensuring the long-term financial sustainability of Cityinfrastructure in the future.

Sheena MacLeod C.A.City Treasurer


he Manager’s Office in municipalgovernment operates much like an executive

office in a corporation, overseeing the broadrequirements of the organization, with the CityManager as Chief Administrative Officer. At theCity of Coquitlam, the Manager’s Office alsoincludes Human Resources, EconomicDevelopment, Corporate Planning andEmergency Planning.

MissionProvide corporate leadership and service torealize organizational values and supportCouncil’s vision for the community.

DEPARTMENTAL OVERVIEWS Manager’s Office

T• Develop and update 3-year Corporate

Strategic Plan and Business Plan• HR support, such as recruitment,

training and payroll, to City staff• Provide economic development liaison

and opportunities to attract and retainbusiness and stimulate economicgrowth

• Promote tourism for City of Coquitlam• Provide Emergency Plan management

and emergency preparedness supportfor the community

AT A GLANCE


roviding service to both the internalorganization and the community, the

Corporate Services Department is integral toensuring the City government operateseffectively and efficiently.Corporate Services staff are responsible for fivekey areas – the City Clerk’s Office; FinancialServices; Information and CommunicationsTechnology; Legal, Bylaw Enforcement, BusinessLicencing and Animal Services; and CorporateCommunications.The City Clerk’s Office provides the primarycommunications link between City Council, staffand the community. City Clerk’s Office staff arealso responsible for the preparation of theagendas and minutes for Council andCommittee meetings; maintenance and accessto corporate records including City bylaws;administrative support to Council and itsCommittees; and local government elections.Financial Services includes long-term financialplanning, annual budget development,investments, accounting, treasury and cashmanagement and all statutory financialreporting. All purchasing requirements such astenders and purchase orders are coordinatedthrough this division. Financial Services staffalso calculate and levy property taxes, waterand sewer billing, and collection of otherpayments to the City for items such as licences,permits and fines.The Information and CommunicationsTechnology staff support all of the City’sintegrated software applications and coordinatetelecommunications requirements such astelephones, cell phones and pagers. They alsoprovide the technical support to the City’sInternet and Intranet applications.The City’s Legal, Bylaw Enforcement, BusinessLicencing and Animal Services staff oversee all

legal matters for the City, as well as bylawenforcement and business licencing. As well,they operate Coquitlam’s Animal Shelter andanimal care services, including volunteercoordination at the facility. The City Solicitor is responsible for legal counsel at the City.The Corporate Communications Divisionprovides communications support to improvethe effectiveness of internal and externalcommunications, including advertising, mediarelations, the Print Shop and the City website at www.coquitlam.ca.

MissionProvide exceptional service to enable Council, staff and the public to achieve their goals.

DEPARTMENTAL OVERVIEWS Corporate Services

P

• Coordinate local government elections for Mayor, CityCouncil and School Board Trustees which will take placeon November 19, 2005

• Manage corporate documents in comprehensive recordsmanagement system

• Provide administrative support and advice to Mayor andCouncil as well as Advisory Committees and Boards

• Collect, distribute and manage payments and billingtotalling more than $170 million

• Provide IT support for more than 500 personalcomputers

• Coordinate services for more than 750 telephones andcell phones

• Issue an average of 5,300 business licences each year• Respond to approximately 3,500 bylaw complaints• Provide animal care services for more than 850 animals

received at the Shelter, with an adoption rate of 75% ofall available animals

• Provide online tools resulting in 7,700 onlineregistrations for recreation programs

AT A GLANCE


roviding emergency response to fires is oneof the Fire/Rescue Department’s core roles

and responsibilities in the City. However, theFire/Rescue Department does much more thanrespond to fires. The City’s firefighters are alsohighly-trained First Responders for medicalemergencies and they respond to and mitigate

MissionProvide a wide scope of emergency services, fire prevention and educational programs designed toprotect lives, property and environment from the adverse effects of fire, sudden medical emergen-cies or exposure to dangerous conditions created by people or nature.

DEPARTMENTAL OVERVIEWS Fire / Rescue

P

• Respond to an average of 2,000 medical emergencies• Provide medical and rescue support at approximately

1,000 motor vehicle accidents• Respond to an average of 140 structural fires• Respond to an average of 110 vehicle fires• Conduct 60 school tours at local fire stations, involving

1,000 students• Respond to approximately 5,000 calls through 9-1-1• Complete approximately 4,000 building inspections• Train firefighters totalling more than 20,000 person hours• Respond to approximately 100 special operations

incidents• Respond to approximately 1,000 miscellaneous calls,

such as burning complaints, public assists, refuse firesand investigations

hazardous material incidents. They also provideemergency response to light and heavy urbanSearch and Rescue, along with other highlyspecialized rescues such as high angle rescue,industrial rescue, confined space rescue, trenchand water rescue and wild-land/urban firespecial training programs. In addition to theseimportant emergency response requirements,the Coquitlam Fire/Rescue Department is veryactive in promoting Fire Prevention andEducation Programs. Through communityliaison initiatives, the Fire Department provides:• school education programs;• instruction on how to prevent fires;• information on how to identify risks;• assistance with the development of pre-

incident fire plans; and• participation in public events.The Fire/Rescue Department is also required tocarry out inspections of multi-family residencesand commercial buildings. They do fireinvestigations to determine the cause of fires,and check building plans for compliance to theFire Code related to life safety issues.

AT A GLANCE


hrough programs, services, facilitation,recreation facilities, parks and hiking trails,

the City of Coquitlam Leisure and Parks staffcontribute daily to the quality of life and well-being of the community. Leisure programs for allages are offered throughout the year atrecreation facilities and through partnershipswith schools and other organizations. The City’srecreation facilities – Chimo Pool, City CentreAquatic Complex, Dogwood Pavilion, the SportsCentre, Poirier Community Centre and PinetreeCommunity Centre – are fully equipped to offercustomers both training programs and a rangeof leisure activities. Seniors enjoy a special clubenvironment at Dogwood Pavilion and thePinetree Community Centre, whereopportunities for crafts, activities,entertainment and programs are tailored tomembers’ interests.Leisure and Parks staff are actively involved inparks planning, development and maintenanceto create multiple opportunities for outdoorenthusiasts. In the summer, water spray parksand pools offer fun in the sun. The City’s hikingtrails like the Coquitlam Crunch, the patharound Como Lake, 13.5 km of trails in MundyPark and 18 km of trails in Westwood Plateau,offer year-long opportunities to learn moreabout our natural environment.

In addition to its leisure and parks services, thedepartment is responsible for maintenancemanagement of all City buildings and cemeteryoperations and it also provides EmergencySocial Services such as food andaccommodations for evacuated residents in theevent of a major disaster.

DEPARTMENTAL OVERVIEWS Leisure and Parks

MissionWork with the community to create and support leisure and parks opportunities that encourage healthy lifestyles.

T

• 2,463 Seniors’ Centre members• 683 volunteers in Leisure and Parks

Services• 47,204 hours volunteered in Leisure

and Parks Services• 398,762 hours in registered leisure and

aquatics programs• 397,850 admissions to City Centre

Aquatic Complex• 119,194 admissions to Chimo Pool• 8,479 admissions to Sports Centre• Manage 90 km of trails and 70 active

parks and open spaces (natural areas)of over 2,300 acres

• Maintain a total of 74 sports fields andball diamonds

AT A GLANCE


he Engineering and Public WorksDepartment is responsible for the systems

that enable the community to use quality waterfor drinking and fire fighting, dispose ofsanitary sewage, drainage, garbage andrecyclables, and use transportation facilities,including roads and signal systems.Engineering and Public Works coordinates thecapital works program as it relates to theconstruction of new roads, drainage, water andsewer systems. The department also maintainsrecord drawings and high quality maps of theCity. The Coquitlam Engineering and PublicWorks Department is the first agency in Canadato be accredited by the American Public WorksAssociation (since 1998).

MissionCommitted to excellence in engineering andpublic works.

DEPARTMENTAL OVERVIEWS Engineering and Public Works

T• Collect and classify garbage and recyclables

from 24,000 single family homes andrecycling for 13,000 multi-family dwellings

• Monitor and distribute more than21,000,000 cubic metres of drinking waterannually

• Maintain over 462 km of water main,14 water pump stations and eight waterstorage reservoirs

• Maintain over 420 km of sanitary sewer,17 major pump stations to reliably collect sewage from 40,000 residential,commercial, industrial and institutionalcustomers

• Maintain 1,020 km of roads (arterial,collector and local)

• Provide snow clearing and ice control for1,020 km of road, 24 hours a day, seven days per week, as required

• Maintain over 476 km of drainage pipelines,16 km of dikes, two flood gates and 115 natural watercourses, providingenvironmental protection, spill response,flood protection and public safety

• Manage design and construction ofEngineering and Public Works CapitalProgram of approximately $10–$15 millionper year

AT A GLANCE


he Planning and Development Departmentis responsible for developing a wide range

of plans for land use and other City initiativesincluding transportation, heritage and the environment. The Department is alsoresponsible for handling current applications for buildings and subdivisions, tree cutting,site preparation, land use changes and otherdevelopment proposals.Planning for the future needs of the community includes policies and plans formanaging urban development and growth.Plans must incorporate transportation systems,environmental considerations, infrastructurerequirements, business and serviceopportunities, heritage planning, andneighbourhood characteristics and amenities.Planning of this scope requires extensivecollaboration and research. Guided by Council’svision, staff work with other levels ofgovernment, the private sector and the public to ensure that the City’s planning anddevelopment is consistent with local, regional,provincial and federal activities. The City ofCoquitlam has a Citywide Official CommunityPlan that includes policies and plans at ageneral level for the whole City, as well asindividual area and neighbourhood plans.By following these plans and policies, Coquitlamcan manage growth and change appropriately,and residents and businesses will havesufficient amenities and infrastructure toprovide for a safe and desirable community life.

MissionWorking together to plan and develop a safeand desirable community.

DEPARTMENTAL OVERVIEWS Planning and Development

T

Using these policies and plans as a guide, thePlanning and Development Department reviewsproposed development projects and advisesCouncil on how and where development shouldproceed, along with any specific considerations,such as urban design, heritage, the environmentand servicing requirements. On subdivision,plumbing and building matters, Departmentstaff are responsible for approving applicationsand inspecting construction, consistent withlegislation, City Bylaws and Council’s policies.

• Comprehensive Citywide Official Community Plan,integrating existing area and neighbourhood plans

• Planning for sustainable development in Coquitlam• Planning and design of strategic transportation

initiatives• Secure funding from TransLink for road, transit and

bicycle improvements• Environment-related initiatives underway include

preparation of Watershed Management Strategy,Comprehensive Landscape Strategy, Greenhouse Gas Reduction, Street Tree Management Strategy,Impervious Cover Reduction and Water QualityAssurance through Cross-Connection Control

• Permitting and inspection for $127 million in construction in 2004

• Respond to provincial and regional plans and initiatives

AT A GLANCE

22 CITY OF COQUITLAM ANNUAL REPORT 2004

o provide highly trained, top quality policingservices in Coquitlam, the City hires the

RCMP on contract and City employees providethe RCMP with administrative and operationalsupport services. The result is a cohesivepartnership that ensures the best possibleprotective services for the City.The Coquitlam RCMP detachment provides allstandard policing services, including response toemergency and non-emergency calls, criminalinvestigations and several traffic safetymeasures. The RCMP are also actively involved incrime prevention and increasing communityawareness and understanding of how to protectpeople and their property from crime. Throughoutreach programs, the RCMP and City staffpromote strong ties within the community,particularly with youth and other potential at-risk groups.

MissionThe Coquitlam RCMP Detachment, proud of its traditions and confident in its ability to meetfuture challenges, is committed to preserving the peace, upholding the law and providing qualitypolice service in partnership with our communities.

T• Work towards a safer community by

encouraging community involvementin volunteer programs includingCitizens Crime Watch, Speed Watch,the RCMP Auxiliary Program, andCommunity Police Station volunteers

• Invest in youth safety in thecommunity through the School LiaisonProgram, and involvement in variouscommittees, such as those dealingwith alternative justice and sexuallyexploited youth

• Work with local businesses andresidential complexes to implementcrime prevention programs such asCrime Prevention throughEnvironmental Design and Crime FreeMulti-Housing

• Utilize Federal, Provincial and otherLower Mainland resources to enhancethe level of policing services providedto the Residents of Coquitlam

AT A GLANCE

DEPARTMENTAL OVERVIEWS RCMP Coquitlam Detachment


Year ended December 31, 2004

City of CoquitlamConsolidatedFinancial Statements


We have audited the consolidated statement of financial position of the City of Coquitlam(the “City”) as at December 31, 2004 and the consolidated statements of financial activities andchanges in financial position for the year then ended. These consolidated financial statements arethe responsibility of the City's management. Our responsibility is to express an opinion on theseconsolidated financial statements based on our audit.We conducted our audit in accordance with Canadian generally accepted auditing standards. Thosestandards require that we plan and perform an audit to obtain reasonable assurance whether theconsolidated financial statements are free of material misstatement. An audit includes examining,on a test basis, evidence supporting the amounts and disclosures in the financial statements. Anaudit also includes assessing the accounting principles used and significant estimates made bymanagement, as well as evaluating the overall financial statement presentation.In our opinion, these consolidated financial statements present fairly, in all material respects, thefinancial position of the City as at December 31, 2004 and the results of its financial activities andchanges in its financial position for the year then ended in accordance with Canadian generallyaccepted accounting principles.

Chartered AccountantsNew Westminster, CanadaMarch 11, 2005

Auditors’ Report to the Mayor and Council


December 31, 2004 2004 2003

Financial AssetsCash and temporary investments (note 3) $ 152,662,988 $ 137,617,564Accounts receivable (note 4) 15,529,278 12,505,818

168,192,266 150,123,382LiabilitiesAccounts payable and accrued liabilities (note 5) 24,601,363 22,622,377Deferred revenue 19,699,765 18,965,246Deposits (note 6) 11,185,095 10,542,328Long-term debt, net of sinking fund deposits (note 7) 18,886,553 22,267,689

74,372,776 74,397,640

Net financial assets 93,819,490 75,725,742Capital assets (note 8) 427,838,326 401,989,189

$ 521,657,816 $ 477,714,931

Financial EquityReserves for operating purposes (note 9) $ 11,485,626 $ 11,066,209Reserves for capital purposes (note 10) 81,372,382 68,107,106Surplus from operations (note 11) 19,848,035 18,820,116

112,706,043 97,993,431Capital equity (note 12) 408,951,773 379,721,500

$ 521,657,816 $ 477,714,931

Commitments and contingencies (note 17)See accompanying notes to consolidated financial statements.

Sheena MacLeod C.A.City Treasurer

Consolidated Statement of Financial Position


Consolidated Statement of Financial Activities

Year ended December 31, 2004 2004 budget 2004 2003

Revenue:Taxation (note 13) $ 82,161,983 $ 81,612,624 $ 77,052,630Fees, rates and service charges 37,174,228 34,419,876 31,552,106Grants and grants in lieu 6,861,170 9,242,139 5,542,477Investment income 2,449,624 6,244,142 4,957,641Casino revenue 5,808,000 7,130,685 6,277,860Municipal land sales – 1,950,142 4,979,906Cost recoveries 573,371 1,447,062 3,736,738Penalties and interest on taxes 975,500 845,394 904,956Other 590,568 2,337,888 1,898,993

136,594,444 145,229,952 136,903,307

Expenditures (note 14):General government 13,732,966 12,827,657 12,096,023Police protection 17,973,664 16,919,169 15,791,292Fire protection 13,030,861 12,748,333 12,729,887Engineering 6,885,287 6,289,447 5,923,684Solid waste 3,867,328 3,685,068 3,741,524Planning and development 4,324,240 3,676,334 3,614,249Leisure, parks and cultural 22,421,572 21,972,003 21,349,655Water utility 8,779,508 8,835,199 8,201,374Sewer and Drainage utility 11,796,819 12,069,166 11,421,823Debt interest payments 2,354,213 2,166,475 2,931,022Capital expenditures 29,318,000 25,884,058 17,936,916Other 896,213 63,295 617,694

135,380,671 127,136,204 116,355,143

Excess of revenue over expenditures 1,213,773 18,093,748 20,548,164Debt principal payments (1,289,149) (3,381,136) (2,602,388)

Increase (decrease) in financial equity (75,376) 14,712,612 17,945,776Financial equity, beginning of year 97,993,431 97,993,431 80,047,655

Financial equity, end of year $ 97,918,055 $112,706,043 $ 97,993,431

See accompanying notes to consolidated financial statements.


Consolidated Statement of Changes in Financial Position

Year ended December 31, 2004 2004 2003

Cash provided by (used in):Operations:

Excess of revenue over expenditures $ 18,093,748 $ 20,548,164Cash generated from (required for):

Increase in accounts receivable (3,023,460) (20,347)Increase (decrease) in accounts payable and accrued liabilities 1,978,986 (936,426)Increase in deferred revenue 734,519 2,611,480Increase in deposits 642,767 555,388

18,426,560 22,758,259Financing:

Debt principal payments (3,381,136) (2,602,388)

Increase in cash and investments 15,045,424 20,155,871

Cash and investments, beginning of year 137,617,564 117,461,693

Cash and investments, end of year $152,662,988 $137,617,564

See accompanying notes to consolidated financial statements.


Notes to Consolidated Financial Statements


1. Operations:

The City of Coquitlam (the “City”) is incorporated under the Local Government Act of British Columbia. The City’sprincipal activities include the provision of local government services to residents of the incorporated area.These include administrative, protective, transportation, environmental, recreational, water and sewer.

2. Significant accounting policies:

(a) Basis of accounting:The consolidated financial statements of the City are the representation of management prepared in accor-dance with Canadian generally accepted fund accounting principles as prescribed by the Public SectorAccounting Board (PSAB) of the Canadian Institute of Chartered Accountants. The consolidated financial state-ments reflect a combination of the City’s Operating, Capital and Reserve Funds consolidated with theCoquitlam Public Library. The Library is consolidated as the Library Board is appointed by the City and 86% ofthe Library’s funding comes from the City. Interfund transactions, fund balances and activities have been elimi-nated on consolidation.

Budget reporting:The unaudited budget information reported in the consolidated statement of financial activities represents the2004 component of the Financial Plan Bylaw adopted by City Council on December 13, 2003.

Operating Funds:These funds include the General, Water Utility and Sewer and Drainage Utility Operating Funds as well as theCoquitlam Public Library. They are used to record the operating costs of the services provided by the City.

Capital Funds:These funds include the General, Water Utility and Sewer and Drainage Utility Capital Funds. They are used torecord the acquisition costs of capital assets and any related long-term debt outstanding.

Reserve Funds:Under the Community Charter, City Council may, by bylaw, establish reserve funds for specified purposes.Money in a reserve fund, and interest earned thereon, must be expended by bylaw only for the purpose forwhich the fund was established. If the amount in a reserve fund is greater than required, City Council may, bybylaw, transfer all or part of the amount to another reserve fund.

Trust Funds:These funds account for assets which must be administered as directed by agreement or statute for certainbeneficiaries. In accordance with PSAB recommendations on financial statement presentation for local govern-ments, trust funds are not included in the City’s consolidated financial statements. Trust funds administered bythe City are presented in note 18.

(b) Temporary investments:Temporary investments are recorded at cost which approximates market value and are comprised of moneymarket investments and bonds.

(c) Capital assets:Capital assets consist of capital expenditures recorded at cost, net of disposal of capital assets. Amortization isnot recorded on capital assets.



(d) Capital equity:Capital equity reflects the accumulated historical cost of capital assets acquired, constructed or developed bythe City for which no outstanding debt remains. The value of infrastructure constructed by developers andtransferred to the City at no cost is not included in Equity. The costs for repairs and upgrading to capital assetswhich do not materially add to the service potential of the capital asset are recorded in the financial state-ments as expenditures.

(e) Deferred revenue:Development cost charges (“DCCs”) collected to pay for capital costs due to development are recorded asdeferred revenue upon receipt. DCCs are recognized as revenue when the related development capital costsare incurred.

(f) Deposits:Receipts restricted by the legislation of senior governments or by agreement with external parties are deferredand reported as deposits and are refundable under certain circumstances. When qualifying expenditures areincurred, deposits are recognized as revenue at amounts equal to the qualifying expenditures.

(g) Long-term debt:Long-term debt is recorded net of related sinking fund balances.

(h) Revenue recognition:Revenue is recorded on the accrual basis and is recognized when it is earned. Revenue unearned in the cur-rent period is reported on the statement of financial position as deferred revenue or deposits.

(i) Expenditure recognition:Expenditures are generally recognized as they are incurred as a result of the receipt of goods and services orthe creation of a legal obligation to pay. Interest expense on debenture and other debt is accrued toDecember 31, 2004.

(j) Employee future benefits:The City and its employees make contributions to the Municipal Pension Plan. These contributions areexpensed as incurred. Sick leave benefits and retirement severance benefits are also available to the City’semployees. The costs of these benefits are actuarially determined based on service and best estimates ofretirement ages and expected future salary and wage increases. The obligation under these benefit plans areaccrued based on projected benefits as the employees render services necessary to earn the future benefits.

(k) Use of accounting estimates:The preparation of financial statements requires management to make estimates and assumptions that affectthe reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date ofthe financial statements and the reported amounts of revenue and expenditures during the reporting period.Significant areas requiring the use of management estimates relate to the determination of accrued sick bene-fits, allowance for doubtful accounts receivable and provision for contingencies. Actual results could differ fromthose estimates. Adjustments, if any, will be reflected in the financial statements in the period that the changein estimate is made, as well as in the period of settlement if the amount is different.



3. Cash and temporary investments:

2004 2003

Operating Funds, Unrestricted $ 88,350,472 $ 76,496,758Reserve Funds, Restricted 35,038,464 32,730,153Deferred revenue and deposits, Restricted 29,274,052 28,390,653

$152,662,988 $137,617,564

Cash balances $ 1,444,647 $ 7,206,951Money market securities and bonds maturing within one year 151,218,341 130,410,613

$152,662,988 $137,617,564

Average portfolio yield is 2.86% (2003 – 3.32%).

4. Accounts receivable:

2004 2003

Taxes $ 2,893,357 $ 3,420,853Accrued interest 1,966,851 2,025,848Accounts receivable 9,886,768 6,394,673Water, sewer, drainage and solid waste user rates 612,504 521,520Leisure and Parks facility rental 6,020 6,020Other 163,778 136,904

$ 15,529,278 $ 12,505,818

5. Accounts payable and accrued liabilities:

2004 2003

Accounts payable $ 17,161,515 $ 14,980,745Wages payable 3,344,289 3,604,256Accrued employee sick leave benefits 3,440,752 3,244,369Other 654,807 793,007

$ 24,601,363 $ 22,622,377



6. Deposits:

Deposits,Balance, earnings & Refunds & Balance,

Dec. 31,2003 contributions expenditures Dec. 31, 2004

Public Works performance deposits $ 8,718,915 $ 1,624,844 $ (1,035,488) $ 9,308,271Gravel remediation fund 591,312 19,106 – 610,418Building performance bonds 583,775 255,956 (185,866) 653,865Development permit bonds 416,106 102,616 (15,244) 503,478Pinetree Community

Centre Contingency 21,639 342 – 21,981Other 210,581 27,604 (151,103) 87,082

$ 10,542,328 $ 2,030,468 $ (1,387,701) $ 11,185,095

The City holds irrevocable letters of credit in the aggregate amount of $15,423,833 (2003 – $12,189,340) receivedfrom depositors to ensure their performance of works to be undertaken within the City. These amounts are notreflected in the financial statements.



7. Long-term debt:

The City issues debt instruments through the Municipal Finance Authority pursuant to security issuing bylaws underauthority of the Community Charter to finance certain capital expenditures. Sinking fund balances managed by theMunicipal Finance Authority are netted against related long-term debt.

(a) Gross amount of the debt and the amount of the sinking fund assets available to retire the debt are as follows:

SinkingGross debt fund asset Net debt 2004 Net debt 2003

General Fund $ 29,336,000 $ 15,039,579 $ 14,296,421 $ 17,126,509Water Utility Fund 5,251,200 2,836,758 2,414,442 2,779,946Sewer and Drainage Utility Fund 3,650,000 1,474,310 2,175,690 2,361,234

Consolidated $ 38,237,200 $ 19,350,647 $ 18,886,553 $ 22,267,689

(b) Future principal payments on net outstanding debenture debt over the next five years and thereafter are as follows:

Sewer and Water Drainage

General fund Utility Fund Utility Fund Total

2005 $ 879,380 $ 251,571 $ 182,674 $ 1,313,6252006 898,839 264,149 191,808 1,354,7962007 878,052 277,357 201,398 1,356,8072008 921,955 291,225 211,468 1,424,6482009 968,053 204,584 222,041 1,394,6782010 and beyond 9,750,142 1,125,556 1,166,301 12,041,999

Total 2004 $ 14,296,421 $ 2,414,442 $ 2,175,690 $ 18,886,553Total 2003 $ 17,126,509 $ 2,779,946 $ 2,361,234 $ 22,267,689

Interest rates on long-term debt range from 5.25% to 10%.The weighted average interest rate for 2004 was 7.937%.



8. Capital assets:

2004 2003

General Fund:Land $ 29,449,134 $ 26,280,236Buildings 92,289,333 91,476,336Furniture and equipment 41,415,408 39,360,713Engineering structures 145,905,664 129,463,264

309,059,539 286,580,549Water Utility Fund:

Buildings 1,328,203 1,328,203Equipment 4,077,863 3,277,163Water system 28,389,448 27,273,552

33,795,514 31,878,918Sewer and Drainage Utility Fund:

Buildings 1,103,397 1,103,397Equipment 2,311,869 2,282,391Sewer and drainage system 80,089,201 78,735,297

83,504,467 82,121,085Reserve Fund:

Land, at nominal value 1 1

Coquitlam Public Library Board:Building 115,220 112,372Furniture and equipment 1,363,585 1,296,264

1,478,805 1,408,636

$427,838,326 $401,989,189

9. Reserves for operating purposes:

2004 2003

General Fund $ 11,074,123 $ 10,614,122Water Utility Fund 143,812 134,440Sewer and Drainage Utility Fund 267,691 317,647

$ 11,485,626 $ 11,066,209



10. Reserves for capital purposes:

2004 2003

General Fund $ 38,315,564 $ 28,067,713Water Utility Fund 4,646,700 5,077,418Sewer and Drainage Utility Fund 3,326,375 2,191,794Statutory Reserves 35,038,464 32,730,153Coquitlam Public Library Board 45,279 40,028

$ 81,372,382 $ 68,107,106

11. Surplus from operations:

2004 2003

General Fund:Opening balance $ 10,240,770 $ 7,080,951Operating surplus for the year 530,462 3,159,819

Ending balance 10,771,232 10,240,770

Water Utility Fund:Opening balance 1,801,241 1,567,944Operating surplus for the year 41,840 233,297

Ending balance 1,843,081 1,801,241

Sewer and Drainage Utility Fund:Opening balance 6,700,030 5,095,279Operating surplus for the year 460,371 1,604,751

Ending balance 7,160,401 6,700,030

Coquitlam Public Library Board:Opening balance 78,075 (49,395)Operating surplus (deficit) for the year (4,754) 127,470

Ending balance 73,321 78,075

$ 19,848,035 $ 18,820,116



12. Capital equity:

2004 2003

Balance, beginning of year $379,721,500 $359,382,637Capital expenditures 25,884,058 17,936,916Debt principal payments 3,381,136 2,602,388Disposal of assets (34,921) (200,441)

Balance, end of year $408,951,773 $379,721,500

13. Taxation revenue:

The City is required to collect taxes on behalf of and transfer these amounts to the government agencies noted below:

2004 2003

Tax collected:General purposes $ 71,387,825 $ 68,986,566Collections for other governments 58,708,522 56,066,105Sewer and Drainage frontage tax 10,224,799 8,066,064

140,321,146 133,118,735Less transfers to other governments:

Province of B.C. – school taxes 49,844,781 47,741,686Regional Hospital District – 23,542Greater Vancouver Regional District 1,560,905 1,394,777B.C. Assessment Authority 1,614,367 1,591,993Greater Vancouver Transportation Authority 5,685,037 5,311,086Municipal Finance Authority 3,432 3,021

58,708,522 56,066,105

Taxation revenue $ 81,612,624 $ 77,052,630



14. Expenditures by function and object:

2004 2003

General government:Wages, salaries and benefits $ 6,991,465 $ 7,552,781Professional development 249,911 229,037Contracted services 895,850 808,748Supplies and equipment 4,690,431 3,505,457

Total operating expenditures 12,827,657 12,096,023Capital expenditures 2,296,908 3,139,079

15,124,565 15,235,102Police protection:

Wages, salaries and benefits 4,474,671 4,268,595Professional development 35,432 43,429Contracted services 12,023,483 11,043,125Supplies and equipment 385,583 436,143

Total operating expenditures 16,919,169 15,791,292Capital expenditures 106,423 127,197

17,025,592 15,918,489Fire Protection:

Wages, salaries and benefits 11,680,867 11,545,391Professional development 37,368 44,881Contracted services 12,585 10,017Supplies and equipment 1,017,513 1,129,598


12,829,142 13,040,484Engineering:

Wages, salaries and benefits 4,889,261 4,217,351Professional development 63,102 52,020Contracted services 1,549,374 1,385,324Supplies and equipment (212,290) 268,989


19,815,912 14,902,330



14. Expenditures by function and object (continued):

2004 2003

Solid Waste:Wages, salaries and benefits $ 100,829 $ 209,681Professional development 555 1,081Contracted services 1,903,208 1,795,606Supplies and equipment 1,680,476 1,735,156


3,699,173 4,024,911Planning and development:

Wages, salaries and benefits 3,300,578 3,195,310Professional development 33,846 32,890Contracted services 224,850 245,904Supplies and equipment 117,060 140,145


4,025,158 3,912,682Leisure, parks and cultural:

Wages, salaries and benefits 11,588,887 11,523,336Professional development 38,462 41,876Contracted services 1,261,650 985,873Supplies and equipment 8,601,125 8,505,659Library 481,879 292,911


28,332,943 22,862,409Water utility:

Wages, salaries and benefits 1,535,068 1,435,578Professional development 7,326 8,948Contracted services 366,980 391,005Supplies and equipment 6,925,825 6,365,843


10,751,795 9,323,071



Sewer and Drainage utility:Wages, salaries and benefits $ 1,625,995 $ 988,013Professional development 20,736 10,331Contracted services 756,769 354,179Supplies and equipment 9,665,666 10,069,300


13,249,240 13,586,949

Debt interest payments 2,166,475 2,931,022

Other:Miscellaneous 63,295 617,694Capital expenditures 52,914 –

116,209 617,694

$127,136,204 $116,355,143



15. Pension Plan:

The City and its employees contribute to the Municipal Pension Plan (the “Plan”), a jointly trusteed pension plan.The Board of Trustees, representing plan members and employers, is responsible for overseeing the management ofthe Plan, including the investment of the assets and administration of benefits. The Plan is a multi-employer con-tributory pension plan. Basic pension benefits provided are defined. The Plan has about 130,000 active membersand approximately 45,000 retired members. Active members include approximately 29,000 contributors from localgovernments.

Every three years an actuarial valuation is performed to assess the financial position of the Plan and the adequacyof plan funding. The most recent valuation as at December 31, 2003 indicated an unfunded liability of $789 millionfor basic pension benefits. The next valuation will be as at December 31, 2006 with results available in 2007. Theactuary does not attribute portions of the unfunded liability to individual employers. The City paid $2.91 million(2003 – $2.82 million) for employer contributions to the Plan in fiscal 2004.

16. Employee future benefits:

The City provides benefits for sick leave and certain other retirement benefit arrangements to its employees.

All employees accumulate sick leave entitlement on a monthly basis and can only use this entitlement for paid timeoff under certain circumstances. The accrued benefit obligation and the net periodic benefit cost were estimated byan actuarial valuation completed in September 2004.

Retirement benefit payments represent the City’s share of the cost to provide employees with various benefits uponretirement. The accrued benefit obligation and the net periodic benefit cost were estimated by an actuarial valua-tion completed in March 2005. The City had previously recorded an amount for such retirement benefit arrange-ments without an actuarial valuation. The change in estimate resulting from obtaining an actuarial valuation of theobligations has been applied prospectively.

Information about liabilities for the City’s employee benefit plans is as follows:

RetirementSick leave benefit payments 2004 Total 2003 Total

Accrued benefit obligation:Balance, beginning of year $ 3,054,700 $ 1,098,737 $ 4,153,437 $ 2,923,800Change in estimate due to

actuarial valuation – (278,137) (278,137) –Current service cost 307,500 62,100 369,600 206,800Interest cost 172,900 46,300 219,200 165,600Benefits paid (248,800) (83,800) (332,600) (241,500)

Benefit obligation, end of year $ 3,286,300 $ 845,200 $ 4,131,500 $ 3,054,700

The accrued benefit obligation is included as part of accounts payable and accrued liabilities on the statement offinancial position. The significant actuarial assumptions adopted in measuring the City’s accrued benefit obligationare as follows:

2004 2003

Discount rates 5.5% 5.5%Expected future inflation rates 3.0% 3.0%Expected wage and salary increases 3.0% 3.0%



17. Commitments and contingencies:

(a) The City has entered into various agreements and contracts for services and construction with periods rangingfrom one to five years.

(b) The City has a contingent liability with respect to debentures of the Greater Vancouver Water District, GreaterVancouver Sewerage and Drainage District and Greater Vancouver Regional District, to the extent provided forin their respective Enabling Acts, Acts of Incorporation and Amending Acts. Management does not considereventual payment under this contingency to be likely and therefore no amounts have been accrued.

(c) The City is obligated to collect and transmit property taxes levied on Coquitlam taxpayers in respect of the fol-lowing bodies:

Ministry of Education, Province of B.C.Greater Vancouver Regional DistrictB.C. Assessment AuthorityGreater Vancouver Transportation AuthorityMunicipal Finance Authority

(d) There are several lawsuits pending in which the City is involved. The potential claims against the City resultingfrom such litigation and not covered by insurance are currently undeterminable. Management considers thatany outcome would not materially affect the consolidated financial statements of the City.

(e) The City is a participant in the Municipal Insurance Association of British Columbia (the “Association”). Shouldthe Association pay out claims in excess of premiums received, it is possible that the City, along with the otherparticipants, would be required to contribute towards the deficit. Management does not consider external pay-ment under this contingency to be likely and therefore no amounts have been accrued.

(f) The City issues debt instruments through the Municipal Finance Authority. As a condition of these borrowings,1% of gross proceeds are required by the Municipal Finance Authority for the City to deposit into a debtreserve fund. The City is also required to execute demand notes in connection with each debenture wherebythe City may be required to loan certain amounts to the Municipal Finance Authority. These demand notes anddeposits are contingent in nature and are not reflected in the accounts. Details of the cash deposits and con-tingent demand notes at December 31, 2004 are as follows:

Cash deposits Contingent demand notes

2004 2003 2004 2003

Operating funds:General $ 322,730 $ 907,687 $ 807,027 $ 1,526,133Water utility 125,908 146,444 246,161 277,945Sewer and Drainage utility 80,558 76,724 184,078 184,078

$ 529,196 $ 1,130,855 $ 1,237,266 $ 1,988,156

(g) The City is a shareholder and member of the Emergency Communications for Southwest British ColumbiaIncorporated (E-Comm) whose services provided include: regional 9-1-1 call centre for the Greater VancouverRegional District; Wide Area Radio network; dispatch operations; and records management. The City has 1 Class Ashare and 2 Class B shares. Class A shareholders are obligated to share in both funding the ongoing operationsand any additional costs relating to capital assets (in accordance with a cost sharing formula) while Class B share-holders are not obligated to share in funding of the ongoing operating costs.



18. Trust funds:

(a) Cemetery perpetual care fund:The City operates the Robinson Memorial Park Cemetery and maintains a cemetery perpetual care fund inaccordance with the Cremation, Interment and Funeral Services Act.

(b) Gravel pit fund:The City is holding funds in trust for a third party to be used for the future remediation of land. Interestearned since March 1993 accrues to the City.

Trust fund balance sheet:

2004 2003

Assets:Due from (to) City of Coquitlam $ (18,096) $ 11,911Investments 1,843,102 1,755,237

$ 1,825,006 $ 1,767,148

Equity:Cemetery perpetual care fund $ 1,047,077 $ 989,219Gravel pit fund 777,929 777,929

$ 1,825,006 $ 1,767,148

19. Obligations under operating lease:

The City has an operating lease commitment for office equipment for the three-year period beginning July 1, 2002and ending June 30, 2005. The future minimum lease payments, net of applicable taxes, for the years endingDecember 31, are as follows:

2005 $ 116,161

20. Related party transactions:

The City provides facilities to the following cultural groups at no cost:

Coquitlam Public LibraryEvergreen Cultural CentrePlace Des ArtsMackin House Museum

These cultural groups provide services to the community.

21. Comparative figures:

Certain comparative figures have been reclassified to conform with the presentation adopted for the current year.


Auditors’ Report on supplementary information to the Mayor and Council

We have audited and reported separately herein on the consolidated financial statements ofthe City of Coquitlam as at and for the year ended December 31, 2004.Our audit was conducted for the purpose of forming an opinion on the consolidated financialstatements taken as a whole. The current year’s supplementary information included in Schedules Athrough G is presented for purposes of additional analysis and is not a required part of the financialstatements. Such supplementary information has been subjected to the auditing procedures appliedin the audit of the consolidated financial statements and, in our opinion, is fairly stated in allmaterial respects in relation to the consolidated financial statements taken as a whole.

Chartered AccountantsNew Westminster, CanadaMarch 11, 2005


General Fund – Statement of Financial Position Schedule A

December 31, 2004 2004 2003

Financial assetsCash and temporary investments $ 69,724,114 $ 59,382,655Accounts receivable 13,338,216 10,898,983

83,062,330 70,281,638LiabilitiesAccounts payable and accrued liabilities 22,901,411 21,359,031Long-term debt 14,296,421 17,126,509

37,197,832 38,485,540

Net financial assets 45,864,498 31,796,098Capital assets 309,059,539 286,580,549

$354,924,037 $318,376,647

Financial EquityReserve for operating purposes $ 11,074,123 $ 10,614,122Reserve for capital purposes 38,315,564 28,067,713Surplus 10,771,232 10,240,770

60,160,919 48,922,605Capital equity 294,763,118 269,454,042

$354,924,037 $318,376,647


General Fund – Statement of Financial Activities Schedule B


Revenue:Taxation, net $ 71,799,700 $ 71,387,825 $ 67,831,487Province of B.C. grants 4,208,170 6,346,674 2,663,343Grants in lieu of taxes 2,375,000 2,583,303 2,588,188Fees and service charges 15,616,368 13,300,328 11,543,020Casino revenue 5,808,000 7,130,685 6,277,860Solid waste levies 3,868,015 3,866,316 3,949,627Rental 2,081,529 2,142,770 2,112,907Investment income 1,946,314 4,482,114 3,264,996Penalties and interest on taxes 855,500 721,830 784,518Cost recoveries 536,871 1,136,778 1,763,484Sundry 486,568 1,375,670 1,420,259Sinking fund surplus – 826,050 46,708

109,582,035 115,300,343 104,246,397Expenditures:

General government 13,928,966 13,023,658 12,292,023Police protection 17,973,664 16,919,170 15,791,292Fire protection 13,030,861 12,748,333 12,729,888Engineering 6,885,287 6,289,447 5,923,684Solid waste 3,867,328 3,685,068 3,741,524Planning and development 4,324,240 3,676,335 3,614,249Leisure, parks and cultural 21,974,019 21,490,124 21,056,745Debt interest payments 1,767,794 1,590,931 2,315,840Capital expenditures 25,300,000 22,717,222 14,543,173Other 896,213 63,295 617,694

109,948,372 102,203,583 92,626,112

Excess (deficiency) of revenue over expenditures (366,337) 13,096,760 11,620,285Debt principal payments (875,583) (2,830,088) (2,162,967)Transfer to land sale reserve (1,230,483) (1,239,198) (1,176,171)Transfer to amortization reserve (924,372) (924,372) (1,000,961)Transfer from Reserve Funds 2,295,000 3,135,212 1,601,114

Increase (decrease) in financial equity (1,101,775) 11,238,314 8,881,300Financial equity, beginning of year 48,922,605 48,922,605 40,041,305

Financial equity, end of year $ 47,820,830 $ 60,160,919 $ 48,922,605


Water Utility Fund – Statement of Financial Position Schedule C

December 31, 2004 2004 2003

Financial AssetsCash and temporary investments $ 7,176,066 $ 7,482,362Accounts receivable 366,268 321,767

7,542,334 7,804,129LiabilitiesAccounts payable and accrued liabilities 908,741 791,031Long-term debt 2,414,442 2,779,946

3,323,183 3,570,977

Net Financial Assets 4,219,151 4,233,152Capital assets 33,795,514 31,878,918

$ 38,014,665 $ 36,112,070

Financial EquityReserve for operating purposes $ 143,812 $ 134,440Reserve for capital purposes 4,646,700 5,077,418Surplus 1,843,081 1,801,241

6,633,593 7,013,099Capital equity 31,381,072 29,098,971

$ 38,014,665 $ 36,112,070


Water Utility Fund – Statement of Financial Activities Schedule D


Revenue:User rates $ 10,693,021 $ 10,388,715 $ 9,412,136Connection fees 529,845 50,977 67,441Inspection and other fees 25,000 102,106 151,761Investment income 185,376 431,203 355,670Cost recoveries – 2,300 1,928Rental 5,670 5,670 5,670Grants – 9,502 –Sinking fund surplus – 34,880 –

11,438,912 11,025,353 9,994,606Expenditures:

Administration 1,780,465 1,597,072 1,656,672Water supply 5,578,692 5,498,680 5,033,740Pumping 741,222 998,099 949,034Maintenance 679,129 741,349 561,927Debt interest payments 335,495 324,621 364,258Capital expenditures 1,657,000 1,916,596 1,121,697

10,772,003 11,076,417 9,687,328

Excess (deficiency) of revenue over expenditures 666,909 (51,064) 307,278Debt principal payments (239,591) (365,505) (271,407)Transfer from General Fund 98,000 111,566 98,000Transfer to amortization reserve (74,503) (74,503) (69,514)

Increase (decrease) in financial equity 450,815 (379,506) 64,357Financial equity, beginning of year 7,013,099 7,013,099 6,948,742



Sewer and Drainage Utility Fund – Statement of Financial Position Schedule E

December 31, 2004 2004 2003

Financial AssetsCash and temporary investments $ 10,954,814 $ 9,246,159Accounts receivable 171,043 134,890

11,125,857 9,381,049LiabilitiesAccounts payable and accrued liabilities 371,390 171,578Long-term debt 2,175,690 2,361,234

2,547,080 2,532,812

Net financial assets 8,578,777 6,848,237Capital assets 83,504,467 82,121,085

$ 92,083,244 $ 88,969,322

Financial EquityReserve for operating purposes $ 267,691 $ 317,647Reserve for capital purposes 3,326,375 2,191,794Surplus 7,160,401 6,700,030

10,754,467 9,209,471Capital equity 81,328,777 79,759,851

$ 92,083,244 $ 88,969,322


Sewer and Drainage Utility Fund – Statement of Financial Activities Schedule F


Revenue:Frontage tax $ 10,362,283 $ 10,224,799 $ 9,221,143User rates 4,137,555 4,297,893 4,050,295Inspection and other fees 199,225 255,993 249,805Investment income 299,934 359,479 330,631Cost recoveries 36,500 152,474 2,092,107

15,035,497 15,290,638 15,943,981Expenditures:

Administration 2,219,764 2,014,889 3,063,618Collection and disposal 1,691,057 2,107,314 554,221Pumping 561,530 622,494 581,054Greater Vancouver Sewerage and

Drainage District Assessment 7,324,468 7,324,468 7,222,930Debt interest payments 250,924 250,924 250,924Capital expenditures 2,276,000 1,180,074 2,165,126

14,323,743 13,500,163 13,837,873

Excess of revenue over expenditures 711,754 1,790,475 2,106,108Debt principal payments (173,975) (185,543) (168,014)Transfer from General Fund 98,000 98,000 98,000Transfer to amortization reserve (157,936) (157,936) (65,327)

Increase in financial equity 477,843 1,544,996 1,970,767Financial equity, beginning of year 9,209,471 9,209,471 7,238,704



Reserve Fund Balances Schedule G


Sewer andGeneral Drainage Water Public Statutory 2004 2003

Fund Utility Fund Utility Fund Library Reserves Total Total

Reserves for Operating Purposes:Insurance reserve $ 3,133,002 $ 3,248 $ 9,983 $ – $ – $ 3,146,233 $ 2,570,631Waste utility reserve 2,297,276 – – – – 2,297,276 2,028,655Soil removal fees reserve 208,134 – – – – 208,134 977,358Work in progress reserve 754,140 17,667 114,492 – – 886,299 690,205Public safety reserve 600,000 – – – – 600,000 1,033,553Tax appeals reserve 739,173 – – – – 739,173 739,173Building maintenance reserve 677,766 130,055 12,775 – – 820,596 839,716Commodity tax payable reserve 461,510 – – – – 461,510 422,237Cemetery reserve 295,482 – – – – 295,482 272,653Mayfair sanitary sewer reserve – 115,216 – – – 115,216 196,250Other operating reserves 737,818 1,505 6,562 – – 745,885 394,253WCB/ Powersmart reserve 413,943 – – – – 413,943 343,801Specified area reserve 325,898 – – – – 325,898 253,778Election reserve 104,000 – – – – 104,000 52,000Snow and ice reserve 325,981 – – – – 325,981 251,946

Total Reserves for Operating Purposes $11,074,123 $ 267,691 $ 143,812 $ – $ – $11,485,626 $11,066,209


Reserve Fund Balances Schedule G


Sewer andGeneral Drainage Water Public Statutory 2004 2003

Fund Utility Fund Utility Fund Library Reserves Total Total

Reserves for Capital Purposes:Specific projects

– in progress reserve $ 6,189,589 $ 3,292,978 $ 4,330,061 $ 45,279 $ – $13,857,907 $12,415,345Infrastructure reserve 8,961,341 – – – – 8,961,341 5,346,821Building and equipment

replacement reserve 4,262,598 – – – – 4,262,598 3,134,670Restricted debt reserve 1,739,550 17,392 34,880 – – 1,791,822 1,001,852Local improvement reserve 2,297,019 – – – – 2,297,019 2,233,151Prepaid water main reserve – – 221,829 – – 221,829 214,435Casino revenue reserve

– Municipal capital 10,948,131 – – – – 10,948,131 7,902,913Casino revenue reserve

– Community 710,768 – – – – 710,768 1,585,385Internal financing reserve 469,229 – – – – 469,229 522,193Waste utility reserve 432,937 – – – – 432,937 438,027Water/ Sewer

connections reserve – 16,005 59,930 – – 75,935 62,856Coquitlam legacy fund reserve 1,173,219 – – – – 1,173,219 519,305DCC matching reserve 1,131,183 – – – – 1,131,183 –

Statutory Reserves:Land sale statutory reserve – – – – 24,183,985 24,183,985 23,136,362Amortization statutory reserve – – – – 9,144,264 9,144,264 8,071,099Water utility statutory reserve – – – – 619,624 619,624 615,773Parkland statutory reserve – – – – 1,014,177 1,014,177 832,629Capital street works

statutory reserve – – – – 66,437 66,437 64,590Capital drainage works

statutory reserve – – – – 9,977 9,977 9,700

$38,315,564 $ 3,326,375 $ 4,646,700 $ 45,279 $35,038,464 $81,372,382 $68,107,106



City of CoquitlamFinancial Statementsof Coquitlam Public Library Board


AUDITORS’ REPORT To the Chair and Members of Coquitlam Public Library Board

We have audited the statement of financial position of Coquitlam Public Library Board(the “Library”) as at December 31, 2004 and the statements of financial activities and changes infinancial position for the year then ended. These financial statements are the responsibility of theLibrary's Board. Our responsibility is to express an opinion on these financial statements based onour audit.We have conducted our audit in accordance with Canadian generally accepted auditing standards.Those standards require that we plan and perform an audit to obtain reasonable assurance whetherthe financial statements are free of material misstatement. An audit includes examining, on a testbasis, evidence supporting the amounts and disclosures in the financial statements. An audit alsoincludes assessing the accounting principles used and significant estimates made by management,as well as evaluating the overall financial statement presentation.In our opinion, these financial statements present fairly, in all material respects, the financialposition of the Library Board as at December 31, 2004 and the results of its financial activities and itschanges in financial position for the year then ended in accordance with Canadian generallyaccepted accounting principles.

Chartered AccountantsNew Westminster, CanadaFebruary 24, 2005


COQUITLAM PUBLIC LIBRARY BOARD Statement of Financial Position

December 31, 2004 2004 2003

(restated–note 8)Financial assetsCash $ 61,766 $ 62,293Treasury bill fund 433,712 323,289Accounts receivable 42,942 33,256

538,420 418,838

LiabilitiesAccrued salaries and benefits 301,465 264,224Accounts payable and accrued liabilities 118,354 128,511

419,819 392,735

Net Financial Assets 118,601 26,103Capital assets (note 3) 1,478,805 1,408,636

$ 1,597,406 $ 1,434,739

Financial equity (note 4) $ 118,601 $ 26,103Capital equity (note 5) 1,478,805 1,408,636

$ 1,597,406 $ 1,434,739

Commitment (note 9)See accompanying notes to financial statements.Approved on behalf of the Library Board:

______________________________ Chair ______________________________ Director


COQUITLAM PUBLIC LIBRARY BOARD Statement of Financial Activities


(note 2(c)) (restated – note 8)Revenue:

Grants (note 6) $ 3,482,231 $ 3,506,892 $ 3,396,310Interest 18,000 15,917 20,578Fines and fees 120,000 123,564 120,438Photocopying services 9,000 9,106 9,445Book sales 21,000 14,641 21,174Fundraising activities 73,000 49,023 70,594Rental 9,000 9,000 9,000Other 10,000 28,634 8,045

3,742,231 3,756,777 3,655,584

Expenditures:Building and grounds maintenance 110,000 116,986 107,665Capital 85,000 70,169 106,921Conferences and courses 12,000 12,540 10,102Equipment maintenance and rental 28,800 33,430 26,552Insurance 35,000 33,670 27,568InterLINK assessment 62,384 63,532 57,976Library materials 440,500 434,073 408,318Office supplies 38,000 38,391 38,240Professional fees 15,000 11,119 11,431Promotion and publicity 73,400 46,501 64,203Salaries and benefits 2,642,200 2,620,018 2,495,392Telecommunications, computer

charges and utilities 170,000 153,283 150,040Transportation 10,600 15,914 9,952Rental and other 13,900 14,653 10,938

3,736,784 3,664,279 3,525,298

Excess of revenue over expenditures 5,447 92,498 130,286Repayment to City of Coquitlam – – (38,110)

Increase in financial equity 5,447 92,498 92,176Financial equity (deficiency), beginning of year – 26,103 (66,073)

Financial equity, end of year $ 5,447 $ 118,601 $ 26,103

See accompanying notes to financial statements.


COQUITLAM PUBLIC LIBRARY BOARD Statement of Changes in Financial Position

Year ended December 31, 2004 2004 2003

(restated – note 8)Cash provided by (used in):

Operations:Excess of revenue over expenditures $ 92,498 $ 130,286Change in non-cash operating working capital:

Decrease (increase) in accounts receivable (9,686) 1,320Increase in accrued salaries and benefits 37,241 33,027Decrease in accounts payable and accrued liabilities (10,157) (11,482)Decrease in due to City of Coquitlam – (38,110)

109,896 115,041

Increase in cash 109,896 115,041Cash, beginning of year 385,582 270,541

Cash, end of year $ 495,478 $ 385,582

Cash is defined as cash and cash equivalents, including the Library’s Treasury bill fund.See accompanying notes to financial statements.


COQUITLAM PUBLIC LIBRARY BOARD Notes to Financial Statements


1. Operations:

The Coquitlam Public Library (the “Library”), which is funded principally by the City of Coquitlam (the “City”),was established in 1977 pursuant to the Library Act of British Columbia (Part 2) as a Municipal Public Library.The Library is governed by a nine member municipally appointed Board of Trustees (the “Board”). The Board,on behalf of the residents and taxpayers of the City, oversees the management and operation of theCoquitlam Public Library and further serves as a policy making body for the organization.

2. Significant accounting policies:

The accounting policies of the Library conform to Canadian generally accepted accounting principles formunicipal financial reporting in British Columbia and guidelines issued by the Public Sector Accounting Board(“PSAB”) of The Canadian Institute of Chartered Accountants, and include the following specific policies:

(a) Book collection:Additions to the Library's collection are expensed in the year of acquisition. The collection is not recorded as acapital asset.

(b) Capital assets:Acquisitions of capital assets are reported as capital expenditures in the statement of financial activities andrecorded at cost in capital equity. No charge is made in the accounts for amortization. On disposition, the costis removed from capital assets and capital equity.

(c) Budget information:Unaudited budget information, presented on a basis consistent with that used for actual results, was includedin the financial plan. The budget was subsequently amended and was adopted by the Library Board onJanuary 28, 2004 after the City had approved its grant to the Library.

3. Capital assets:

2004 2003

Computer equipment $ 684,394 $ 640,036Furniture and equipment 655,068 632,105Automotive 24,123 24,123Leasehold improvements 115,220 112,372

$ 1,478,805 $ 1,408,636

Lease space for the Poirier and City Centre Branch is provided to the Library by the City at no charge.



4. Financial equity:

2004 2003

Equity $ 73,322 $ (13,925)Reserve for internal endowment purposes 45,279 40,028

$ 118,601 $ 26,103

The reserve for internal endowment purposes arises from transfers of funds within the Library. The purpose of thesefunds is to fund special projects and collection needs of the Library. During 2004, transfers to this reserve were$5,250 (2003 – $5,250).

5. Capital equity:

2004 2003

Balance, beginning of year $ 1,408,636 $ 1,301,715Capital additions 70,169 106,921

Balance, end of year $ 1,478,805 $ 1,408,636

6. Grant revenue:

2004 budget 2004 2003

City of Coquitlam $ 3,204,231 $ 3,204,231 $ 3,123,032Government of Canada 10,000 24,971 –Province of British Columbia 250,000 255,890 253,128Community Service Clubs 18,000 21,800 20,150

$ 3,482,231 $ 3,506,892 $ 3,396,310

7. Employee future benefits:

The Library provides benefits for sick leave and certain other retirement benefit arrangements to its employees.

All employees accumulate sick leave entitlement on a monthly basis and can only use this entitlement for paid timeoff under certain circumstances. The accrued benefit obligation and the net periodic benefit cost were estimated byan actuarial valuation completed in September 2004.

Retirement benefit payments represent the Library’s share of the cost to provide employees with various benefitsupon retirement. The accrued benefit obligation and the net periodic benefit cost were estimated by an actuarialvaluation completed in March 2005. The total expenditure recorded in the financial statements in respect of obliga-tions under these plans amounts to $29,782 (2003 – $10,417).



7. Employee future benefits (continued):

Information about liabilities for the Library’s employee benefit plans is as follows:

RetirementSick leave benefit payments 2004 Total 2003 Total

Accrued benefit obligation:Balance, beginning of year $ 92,000 $ 51,692 $ 143,692 $ 89,566Adoption of actuarial valuation – 14,308 14,308 –Current service cost 5,600 6,400 12,000 5,452Interest cost 5,100 1,900 7,000 4,965Benefits paid (8,200) (6,200) (14,400) (7,983)

Benefit obligation, end of year $ 94,500 $ 68,100 $ 162,600 $ 92,000

The accrued benefit obligation is included as part of accrued salaries and benefits on the statement of financial position.

The significant actuarial assumptions adopted in measuring the Library’s accrued benefit obligation are as follows:

2004 2003

Discount rates 5.5% 5.5%Expected future inflation rates 3.0% 3.0%Expected wage and salary increases 3.0% 3.0%

8. Adoption of new accounting standard:

Effective January 1, 2004, the Library has adopted the recommendations under Section PS 3255 of the CICAHandbook for accounting for post-employment benefits. The new standard requires the Library to accrue all futureobligations relating to employee sick leave benefits and other retirement benefit arrangements using an actuarialmethodology. This change has been applied retroactively for employee sick leave benefits and has increasedamounts previously reported for accrued salaries and benefits at December 31, 2003 by $92,000 and decreasedamounts previously reported for opening financial equity for the years ended December 31, 2004 and 2003 by$92,000 and $89,566, respectively. This change has also increased amounts previously reported for expendituresfor the years ended December 31, 2004 and 2003 by $2,500 and $2,434.

In addition, the Library had previously recorded an amount for certain retirement benefit arrangements without anactuarial valuation. The change in estimate, resulting from obtaining an actuarial valuation of the obligations, hasbeen applied prospectively and has increased accrued salaries and benefits and expenditures by $19,082 in 2004.

2004 2003

Financial equity, beginning of year:As previously reported $ 118,103 $ 23,493Adjustment to reflect change in accounting for sick leave (92,000) (89,566)

As restated 26,103 (66,073)Increase in financial equity, year ended December 31 92,498 92,176

Financial equity, end of year $ 118,601 $ 26,103



9. Commitment:

The Library has entered into various leases for office equipment. The annual commitment for the next five years, netof applicable taxes, is approximately as follows:

2005 $ 26,8692006 21,5862007 5,7372008 5,7372009 –

$ 59,929

The Library is a member of InterLINK, which provides interlibrary loans for Coquitlam Public Library patrons from 16other participating libraries in other municipalities. The Library has a contractual agreement with InterLINK to paythe annual assessment which, for 2004, is $63,532 (2003 – $57,976).

10. Comparative figures:

Certain comparative figures have been reclassified to conform with the presentation adopted for the current year.



City of CoquitlamStatistical Analysis


Statistical Analysis

Revenues by Source 2000–2004

Building Permits and Total Tax Collection 2000–2004

DOLLARS (millions)160

140

120

100

80

60

40

20

0

Other

Casino Revenue

Municipal Land Sales

Grants

Fees, Rates, Service Charges and Cost Recoveries

Taxation

2000 2001 2002 2003 2004

2004

2003

2002

2001

2000

0 20 40 60 80 100 120 140 160

General Purposes Tax

Solid Waste Levies

Water User Rates

Sewer and Drainage Frontage Tax

Collection for Other Governments

DOLLARS (millions)

Building Permits - Total Value

Total Tax Collection

DOLLARS (millions)

180

160

140

120

100

80

60

40

20

02000 2001 2002 2003 2004

(Source: City of Coquitlam Financial Services Division)


(Source: City of Coquitlam Planning and DevelopmentDepartment and Financial Services Division)

Property Tax Collection, Other Major Levies and Collections 2000–2004



Total Value of Building Permits 2000–2004

Expenditures by Object 2000–2004 (Source: City of Coquitlam Financial Services Division)

Expenditures by Function 2000–2004 (Source: City of Coquitlam Financial Services Division)

2004

2003

2002

2001

2000

DOLLARS (millions)

87

127

103

88

164

Wages, Salaries

and Benefits


45

40

35

30

25

20

15

10

5

0Professional

DevelopmentContracted

ServicesSupplies andEquipment

Other Debt InterestCharges

CapitalExpenditures

2000

2001

2002

2003

2004

General Government


25

20

15

10

5

0Police

and FireProtection

Engineering Planning and

Development

Leisure,Parks and Cultural

Water, Sewer,

Drainage& Solid Waste

CapitalExpenditures

Other

2000

2001

2002

2003

2004

(Source: City of Coquitlam Planning andDevelopment Department)



Summary of Statutory Reserve Funds 2000–2004

Assessed Values for General Municipal Purposes 2000–2004

(Source: City of Coquitlam Financial Services Division)DOLLARS (millions)

25

20

15

10

5

02000 2001 2002 2003 2004

Land Sale Reserve

Development Cost Charges

Amortization Reserve

Other

DOLLARS (billions)8

7

6

5

4

3

2

1

02000 2001 2002 2003 2004

Total Land

Total Improvement

(Source: British Columbia Assessment Authority)



2004 Assessment and Taxation by Property Class

Coquitlam Debt Per Capita 2000–2004

Gross and Net Long-Term Debt 2000–2004

90%

80%

70%

60%

50%

40%

30%

20%

10%

0%Residential Commercial Industrial Other

Assessment

Taxation

DOLLARS

250

200

150

100

50

0 2000 2001 2002 2003 2004


30

25

20

15

10

5

02000 2001 2002 2003 2004

Gross Debt Supported by Property Taxes

Net Debt Supported by Property Taxes

Gross Debt Supported by Utilities

Net Debt Supported by Utilities






Capital Expenditures Per Capita 2000–2004

Capital Expenditures by Fund 2000–2004

Capital Expenditures By Source 2000–2004

DOLLARS

250

200

150

100

50

02000 2001 2002 2003 2004

DOLLARS (millions)

30

25

20

15

10

5

02000 2001 2002 2003 2004

General

Sewer and Drainage

Water

DOLLARS (millions)

30

25

20

15

10

5

02000 2001 2002 2003 2004

Other

Water Levy

Sewer and Drainage Levy

Debt

Grants

DCC's

Statutory Reserve

Capital Reserve

General Revenue






Surplus for the Year 2000–2004 (Source: City of Coquitlam Financial Services Division)

Accumulated Surplus 2000–2004 (Source: City of Coquitlam Financial Services Division)

Accumulated Surplus Per Capita 2000–2004

DOLLARS (millions)

4

3

2

1

0

1

22000 2001 2002 2003 2004

General

Sewer and Drainage

Water

DOLLARS (millions)

20

16

12

8

4

02000 2001 2002 2003 2004

General

Sewer and Drainage

Water

2000 2001 2002 2003 2004

DOLLARS

180

160

140

120

100

80

60

40

20

0




General Long-Term Debt Charges as a % of Total General Expenditures 2000–2004 (Source: City of Coquitlam Financial Services Department)

Legal Debt Limit 2000–2004 (Source: City of Coquitlam Financial Services Division)

Population Estimate 2000–2004

6.0 %

5.8 %

5.6 %

5.4 %

5.2 %

5.0 %

4.8 %

4.6 %

4.4 %

4.2 %

4.0 %

2000 2001 2002 2003 2004

2000 2001 2002 2003 2004


300

250

200

150

100

50

0

Borrowing

Borrowing Power

(Source: BC STATS - Ministry of Management Services and Statistics Canada)

2000 2001 2002 2003 2004

POPULATION

124,000

122,000

120,000

118,000

116,000

114,000

112,000

110,000

108,000

106,000

104,000



Capital Expenditures21%

Debt Interest Charges2%

Sewer & Drainage Utility9%

Engineering5%

Water Utility7% Leisure, Parks & Cultural

17%

Solid Waste3%

Fire Protection10%

Police Protection13%

Planning & Development3%

General Government10%

Comparison of the Average 2004 Annual Tax Bill for All City Services to Other Standard Household Costs

2004 Expenditures (Source: City of Coquitlam Financial Services Division)

200 400 600 800 1,000 1,200 1,400 1,600 1,800

STANDARD HOUSEHOLD COSTSTerasen (Gas Bill)

BC Hydro (Electric Bill)Home Insurance

Home Security SystemTelephone (Basic)

Cable (Basic)

COST OF ALL CITY SERVICESPolicing Services

Sewer & DrainageFire

WaterCapital (Including Debt Payments)

Garbage Pickup & RecyclingLeisure & Recreation

Traffic Control and Road MaintenanceCultural & Community Grants

Parks & Environmental ServicesPlanning & Development

Total for City's Services

$

$1,386 $1,320

$696 $395 $348 $300

$275 $270 $221 $205 $180 $155 $124 $94 $83 $67 $49

$1,723

(Source: City of Coquitlam Financial Services Division) Based on 2004 average single family residence

Fees, Rates and Service Charges

24%

Other Grants 6%

Investment Income 4%

Casino Revenue 5%

Other 4%

Taxation56%

Penalties and Interest on Taxes 1%

2004 Revenue Sources (Source: City of Coquitlam Financial Services Division)



Registered Owner Primary Property Taxes Levied

Pension Fund Realty Ltd. Shopping Centre 6,144,357.24Ikea Properties Ltd. Miscellaneous 1,514,224.29Balaclava Holdings Ltd. Pulp/Paper Mill 1,256,145.77Pinetree Village Holdings Inc. Shopping Centre 1,033,064.20Westfair Properties Ltd. Shopping Centre 1,020,779.92Sun Life Assurance Co. Of Canada Shopping Centre 1,017,229.75Westfair Properties (Pacific) Ltd. Stores & Service-Commercial 699,566.69Famous Players Movie Theatre 694,414.21West Mall Hotels Ltd. Hotel 512,317.96B C Hydro & Power Authority Elect. Power Systems 459,225.00Bentall Retail Services Shopping Centre 442,916.56International Forest Centre Ltd. Sawmills 430,143.06Henderson Civic Centre Ltd. Shopping Centre Commercial 426,792.53Westfair Properties Ltd. Shopping Centre 387,747.30B C Gas Utility Ltd. Gas Distribution Systems 385,604.07Home Depot Holdings Inc. Stores & Service-Commercial 382,162.59Telus Communications (BC) Inc. Telephone 381,461.89Honeysuckle Developments Manufacturing Operation 376,395.39Sunnyland Enterprises Ltd. Shopping Centre 367,514.39655870 BC Ltd. Storage & Warehousing 342,443.17Canadian Property Holdings Inc. Shopping Centre 341,909.08Domtar Inc. Miscellaneous Industrial 311,805.40Double Foxtrot Holding Co. Ltd. Store(S) & Office 305,724.38Great Canadian Casino Casino 302,525.89WKR Inc. Storage & Warehousing 298,143.22Burquitlam Building Ltd. Shopping Centre 290,824.09Sony Of Canada Ltd. Storage & Warehousing 280,236.39Canada Cement Lafarge Ltd. Concrete Mixing Plant 277,950.20B.U.K. Investments Ltd. Auto Paint Shop, Garages, Etc. 276,434.87Investors Group Trust Co. Ltd. Miscellaneous 272,350.58BC Golf Club Ltd. Golf Courses 253,155.43B C Hydro & Power Authority Elect. Power Systems 251,025.00Coquitlam Inn & Convention Centre Ltd. Motel & Auto Court 250,806.04Toys'R Us Retail Sales 246,703.74Onny Holdings Ltd. Storage & Warehousing 240,430.32655868 BC Ltd. Storage & Warehousing 237,225.72Greater Vancouver Transportation Authority Parking-Lot Only Paved Or Gravel 230,628.03925834 Ontario Inc. Stores & Service-Commercial 230,408.12390200 BC Ltd. Shopping Centre 229,214.25505376 BC Ltd. Storage & Warehousing 226,010.22T C C Bottling Ltd. Soft Drink Bottling 225,852.58Greyhound Canada Storage & Warehousing 223,881.96B C Hydro & Power Authority Elect. Power Systems 222,285.00Prospero Canadian Land Investment Fund Ltd. Miscellaneous 220,040.33Pacific Reach Home Furnishings Centre Ltd. Stores & Service-Commercial 212,851.90Newcorp Properties Stores & Service-Commercial 207,899.40Dayhu Investments Ltd. Stores & Service-Commercial 206,094.99Investors Group Trust Co. Ltd. Miscellaneous 206,059.52Canadian Mini-Warehouse Properties Storage & Warehousing 199,696.41Centra Gas BC Inc. Oil Gas Pumping & Compressor Stn. 193,509.32424116 BC Ltd. Office Building 190,507.82The John Volken Foundation Stores & Service-Commercial 185,575.23Terasen Pipelines Inc. Oil Gas Transport Pipelines 176,874.86Wheaton Pacific Pontiac Buick GMC Ltd. Automobile Dealership 176,778.32634510 BC Ltd. Storage & Warehousing 175,736.44McLellan, Donald - Executor Storage & Warehousing 175,295.564992815 Manitoba Ltd. Storage & Warehousing 173,919.33Coquitlam (LNT) Properties Ltd. Stores & Service-Commercial 171,908.60

Principal Corporate Taxpayers (Source: City of Coquitlam Financial Services Division)



Identification Estimated 2004 Taxes

Evergreen Cultural Centre Society $ 121,829Nature Trust of British Columbia 31,632Pentecostal Assemblies of Canada 25,073Roman Catholic Archbishop of Vancouver 22,910Roman Catholic Archbishop of Vancouver 22,727Roman Catholic Archbishop of Vancouver 19,480BC Conference of Mennonite Brethren Churches 19,319Colony Farm Community Gardens Society 19,265Societe Du Foyer Maillard 17,055Blue Mountain Baptist Church 15,338Sisters of the Immaculate Heart of Mary Society 12,625Seventh-Day Adventist Church 10,757Christian and Missionary Alliance 10,488Mundy Park Christian Fellowship 8,074Good Shepard Lutheran Church of Coquitlam 7,512Foursquare Gospel Church of Canada 7,008Nature Trust of British Columbia 6,921Hillside Community Church 6,660S.P.C.A. 5,516King of Life Lutheran Church 5,341Roman Catholic Archbishop of Vancouver 5,090Trustees of the Congregation of the Calvary Baptist Church 4,070Christian and Missionary Alliance 3,928Trustees of Coquitlam Presbyterian Church 3,842Earl Haig Society 3,775Seizan Buddhist Studies and Cultural Centre 3,665S.P.C.A. 3,499Children's House Montessori Preschool Society 3,261Burquitlam Senior Housing Society 2,783Christ Church of China 2,645Oakdale Child Care Society 2,567Roman Catholic Archbishop of Vancouver 2,274Vancouver BC Congregation of Jehovah's Witness 2,261Church of the Nazerene 1,920Burquitlam Intermediate Care Society 1,906Nature Trust of British Columbia 1,885Burquest Jewish Community Association 1,881Eagle Ridge United Church 1,738Baker's Corner Preschool 1,716Step by Step Preschool Society 1,247Trustees of the Congregation Church of God in Christ 1,216Happy Days Play School 1,030Little Neighbours Nursery School 684Nature Trust of British Columbia 35Nature Trust of British Columbia 18Nature Trust of British Columbia 14YMCA 4Western Montessori Learning Centre 4POCOMO Boys' and Girls' Club 4

$ 454,492

Permissive Tax Exemptions (Source: City of Coquitlam Financial Services Division)

City of Coquitlam Financial Services Division3000 Guildford WayCoquitlam, BC V3B 7N2

Tel 604-927-3030Fax 604-927-3035

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