T OWNSHIP OF P USLINCH 2019 F INANCIAL S TATEMENT P RESENTATION - PowerPoint PPT Presentation

T OWNSHIP OF P USLINCH 2019 F INANCIAL S TATEMENT P RESENTATION Presented By: Angela Nichol, CPA, CA Traci Smith, CPA, CGA, LPA

O UTLINE  Review of significant financial statement elements including:  Statement of financial position  Statement of operations and accumulated surplus  Statement of changes in net financial assets  Statement of cash flows  Accumulated surplus note  Reserves note  Final report to Council

S TATEMENT OF F INANCIAL P OSITION  Statement of financial position is a snapshot of the municipality at a point in time.  It highlights the following:  Cash resources  Net financial assets  Non-financial assets  Accumulated surplus or deficit

S TATEMENT OF F INANCIAL P OSITION

S TATEMENT OF O PERATIONS AND A CCUMULATED S URPLUS  Reports the revenues and expenses of the municipality for the year.  Total revenue less costs (expenses) gives annual surplus  It highlights the following  Actual vs. budget vs. prior year results  Annual surplus  Accumulated surplus

S TATEMENT OF O PERATIONS AND A CCUMULATED S URPLUS

H IGHLIGHTS OF M UNICIPALITY P ERFORMANCE – R EVENUE 2019 1,593,080 20% Taxation 4,308,350 1,479,299 Fees and user charges 55% 19% Grants 456,855 Other income 6%

H IGHLIGHTS OF M UNICIPALITY P ERFORMANCE – E XPENSES 2019 15.10% General government 27.37% Protective services 7.69% Transportation Recreational and cultural Planning & development 27.03% 22.81% 2019 0% 4% 21% 49% Salaries Interest Materials & supplies Contracted services Rents & financial expense External transfers 26% 0%

S TATEMENT OF C HANGES IN N ET F INANCIAL A SSETS  Takes annual surplus from statement of operations and removes activity in non-financial assets to get change in net debt for the year that agrees to statement of financial position  It highlights the following:  Changes in capital assets for the year  Change in net debt/net financial assets

S TATEMENT OF C HANGES IN N ET F INANCIAL A SSETS

S TATEMENT OF C ASH F LOWS  Shows the change in cash and cash equivalents for the year  Breaks down cash between operating, capital, investing and financing  It highlights the following:  Primary sources of cash (Operating , investing or financing)  Primary use of cash (Capital transactions)

S TATEMENT OF C ASH F LOWS

A CCUMULATED S URPLUS N OTE  Provides a breakdown of the accumulated surplus balance found on the Statement of Financial Position and Statement of Operations and Accumulated Surplus  Includes details of:  Amount invested in capital assets  General surplus (Accumulated Operating Surpluses/Deficits)  Capital assets financed by long term liabilities

A CCUMULATED S URPLUS N OTE

R ESERVES N OTE

H IGHLIGHTS OF M UNICIPALITY P ERFORMANCE – R ESERVE BALANCES Reserves and Discretionary Reserve Funds 5,000,000 Working capital 4,500,000 4,000,000 Recreational and cultural 3,500,000 Fire 3,000,000 Transportation 2,500,000 2,000,000 General government 1,500,000 Protective services 1,000,000 Asset management 500,000 0 2015 2016 2017 2018 2019

H IGHLIGHTS OF M UNICIPALITY P ERFORMANCE – R ESERVE BALANCES Obligatory Reserve Funds 1600000 1400000 Recreation land 1200000 Gas tax 1000000 Development charges 800000 Other 600000 400000 200000 0 2015 2016 2017 2018 2019

F INAL R EPORT TO C OUNCIL

FINAL REPORT TO COUNCIL

FINAL REPORT TO COUNCIL

FINAL REPORT TO COUNCIL