2015 Annual Report

w7 Rendering of Cambie fire hall currently under construction City of Richmond 2015 Annual Report 8 3. A Well-Planned Community Adhere to effective planning and growth management practices to maintain and enhance the livability, sustainability and desirability of our City and its neighbourhoods, and to ensure the results match the intentions of our policies and bylaws. [...] The City received the 2015 UBCM Community Continue advancement of the City’s sustainability Excellence Award for Partnerships for the project, framework and initiatives to improve the short which involved multiple partners including and long term livability of our City, and that community groups and government agencies. [...] In addition to several TV and effective use of financial resources, and the series, two major feature films, Deadpool and prudent leveraging of economic and financial the newest Planet of the Apes movie, filmed for opportunities to increase current and long-term extended periods in Richmond. [...] Richmond location filming of Deadpool City of Richmond 2015 Annual Report 11 Report from the General Manager, Finance and Corporate Services I am pleased to submit the City of Richmond’s consolidated financial statements for the year ended December 31, 2015, pursuant to Section 167 of the Community Charter. [...] and fair presentation of the consolidated financial statements in order to consolidated financial position of the City of Richmond as at December 31, 2015, and its consolidated design audit procedures that are appropriate in the circumstances, but not for the purpose of results of operations, its changes in net consolidated financial assets, and its consolidated cash flows expressing an opinion on [...] (p) Use of accounting estimates: The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenue and expenditures during the reporting period. [...] The value of contributed assets received during the year is $61,806,695 (2014 - $55,388,435) comprised of infrastructure in the amount of $10,874,576 (2014 - $18,937,542), land in the amount of $50,606,219 (2014 - $36,450,893), and other assets in the amount of $325,900 (2014 - nil). [...] While they are separate legal entities, the City does generally provide the buildings and grounds for the use of the community associations as well as pay the operating costs of the facilities. [...] The City holds the assets for the benefit of and stands in fiduciary relationship to the beneficiary. [...] The services provided are construction and maintenance of the City's infrastructure and all City owned buildings, maintenance of the City’s road networks, managing and operating a mixed fleet of vehicles, heavy equipment and an assortment of specialized work units for the City operations, development of current and long-range engineering planning and construction of major projects.