2018 8 Annual nual Repor port June 27, 2019
Supplementary Information Schedule I – Summary of Surpluses and Reserves • Balance increased from $14M to $15.9M • Net $700K increase to Strathcona Gardens Reserve ($2.9M to $3.6M) Net $100K increase to General Administration Surplus ($450K to $550K) • • Net $500K increase to Community Works Fund ($4.5M to $5M) Schedule II – Changes in Reserves • Balance increased from $10.4M to $11.8M $186K interest earned • • $2.2M transfers to reserve • $960K reserves used for capital projects Schedule III – Schedule of Service Requisition Limits • Provides listing of maximum requisitions established by bylaw or statute, for reference
Supplementary Information/SOFI Schedule IV - Schedule of Guarantee and Indemnity Agreements • None in 2018 Schedule V - Schedule of Remuneration and Expenses • Detailed listing for each elected and appointed official and all employees with remuneration totaling more than $75,000 Schedule VI - Statement of Severance Agreements • None in 2018 Schedule VII - Schedule of Payments to Suppliers Largest disbursements to suppliers were for debt, payroll-related payments, and operating • contracts
2018 Financial Statement Ratio Analysis • Financial Health Indictors • Sustainability • Flexibility • Vulnerability
Comparator RD’s • Alberni Clayoquot (Port • East Kootenay (Cranbrook) Alberni) • Kitimat Stikine (Terrace) • Bulkley Nechako (Burns • Kootenay Boundary (Trail) Lake) • Qathet (Powell River) • Central Kootenay (Nelson) • Squamish Lillooet • Columbia Shuswap (Pemberton) (Salmon Arm) • Sunshine Coast (Sechelt) • Comox Valley (Courtenay)
Sustainability tainability Rati tios os Assets ts and Surpl rplus us 8.08 4.29 9.00 8.00 1.90 3.15 2.99 7.00 4.12 1.90 6.00 5.00 2.33 Low 4.00 1.11 1.97 3.00 1.66 Median 2.00 0.54 1.00 SRD - Asse sets to ts to Finan anci cial al Accum ccumulate ulated High Lia Liabiliti ties Asse sets to ts to Surplus to Surp to Tax Liabiliti Lia ties Req equi uisiti sition ons
Fle lexibi xibilit lity y Rat atios ios Debt bt Charges rges 12.31% 14.00% 12.00% 10.00% 1.56% 8.00% 6.00% 0.33% 4.00% Low 2.00% 0.22% 0.00% SRD Pub ublic c Debt Debt Charg Cha rges to es to Median Reve evenue nues High
Fle lexibi xibilit lity y Rat atios ios Revenues enues and Asse sets ts 0.89 0.73 0.69 0.38 1.00 0.53 0.80 0.53 0.28 0.60 0.40 Low 0.10 0.20 SRD 0.00 Ow Own n Source Source Tan angib gible Median Reve evenue nues to s to Ca Capi pita tal Tax ax Asse sets-N ts-NBV High Req equi uisiti sition ons to Cost to Cost
Vuln lnerabil erability ity Ratios ios Governm ernment ent Transf ansfer ers 0.34 0.35 0.14 0.30 0.25 0.20 0.06 0.15 0.10 0.04 Low 0.05 SRD 0.00 Gove G overnm rnment ent Median Tran ransfers sfers t to o Tot otal al Reve evenue nue High
Conclusions ✓ Overall, Regional District’s fiscal health is gradually improving. ✓ SRD’s financial health is in the median or better than similar sized Regional Districts. ✓ Room for improvement: ❑ Continued focus on fiscal sustainability and service delivery over the long-term ❑ Asset management/capital plan
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