| THE CORPORATION OF THE
TOWN OF MARKHAM |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Consolidated
Statement of Financial Position |
|
|
|
| December
31, 2007 |
|
|
|
| (All dollar amounts are in
$000) |
|
|
|
|
Proposed Changes |
|
|
|
|
2006 |
2005 |
Comments |
|
|
2007 |
|
2006 |
|
|
|
|
|
|
|
|
|
| ASSETS |
|
|
|
|
|
|
|
|
|
|
|
| Cash and cash equivalents
(Note 4) |
$319,226 |
|
$291,687 |
27,539 |
|
| Taxes receivable (Note 7) |
30,033 |
|
30,842 |
(809) |
|
| Unbilled user charges |
5,914 |
|
5,191 |
723 |
|
| Accounts receivable (Note 17) |
28,511 |
|
20,654 |
7,857 |
|
| Investment in Markham
Enterprises Corporation (Note 18) |
174,471 |
|
174,471 |
- |
|
| Other current assets |
6,105 |
|
225 |
5,881 |
|
|
|
| |
564,260 |
|
523,070 |
41,190 |
|
|
|
|
|
|
|
|
| LIABILITIES |
|
|
|
|
|
|
|
| Accounts payable and accrued
liabilities (Note 9) |
69,967 |
|
53,459 |
16,508 |
|
| Deferred revenues (Note 10) |
159,649 |
|
152,367 |
7,283 |
|
| Employee future
benefits liabilities (Note 12) |
14,112 |
|
12,781 |
1,330 |
|
| |
243,728 |
|
218,607 |
25,121 |
|
218,607 |
198,528 |
|
|
|
|
|
| NET FINANCIAL ASSETS |
$320,532 |
|
$304,463 |
16,068 |
|
######## |
$ (198,528) |
|
|
|
|
|
| MUNICIPAL POSITION |
|
|
|
|
|
|
|
| FUND BALANCES |
|
|
|
-2569 |
|
| Operating Fund (Note 14) |
$
432 |
|
$ 3,814 |
(3,382) |
|
$ 3,814 |
$ 3,856 |
|
| Capital Fund (Note 14) |
23,963 |
|
25,997 |
(2,034) |
|
25,997 |
23,198 |
|
| Reserves and Reserve Funds
(Note 14) |
127,132 |
|
105,178 |
21,954 |
|
119,348 |
98,707 |
Net Adjustment
$7,784 ($112,962-105,178) represents
Vacation Pay for Town, Library & Employee Future Benefits that do not
have a specific Reserve or Reserves Funds hence to be excluded. |
| Equity in Markham Enterprises
Corporation (Note 18) |
174,471 |
|
174,471 |
- |
|
174,471 |
168,191 |
|
| FUND BALANCES |
325,998 |
|
309,460 |
16,538 |
|
323,630 |
293,952 |
29,678 |
|
|
|
|
|
| AMOUNTS TO BE RECOVERED (Note
6) |
|
|
|
| From reserves and reserve funds on hand |
(5,466) |
|
(4,997) |
(469) |
|
(4,997) |
(4,400) |
$4,997 represents the
liability at year-end for WSIB ($614) and vested sick leave benefits ($4,383)
and which have Reserves and Reserves that are specifically earmarked for
funding this liability. |
|
|
|
|
| MUNICIPAL POSITION |
$320,532 |
|
$304,463 |
|
318,633 |
289,552 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| The
accompanying notes are an integral part of these consolidated financial
statements. |
|
|
|
|
|
|
(0) |
|
(0) |
|
(537,240) |
(488,080) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|