THE CORPORATION OF THE TOWN OF MARKHAM
Consolidated Statement of Financial Position
December 31, 2008
(All dollar amounts are in $000)							Proposed Changes
							2006	2005	Comments
	2008		2007
ASSETS
FINANCIAL ASSETS
Cash and cash equivalents (Note 4)	$339,566		$319,226	20,341
Taxes receivable (Note 7)	37,670		30,033	7,637
Unbilled user charges	5,930		5,914	16
Accounts receivable (Note 17)	26,448		28,511	(2,062)
Investment in Markham Enterprises Corporation (Note 18)	186,304		186,304	-
Other current assets	5,578		6,105	(528)
	601,496		576,093	25,404
LIABILITIES
Accounts payable and accrued liabilities (Note 9)	65,368		69,967	(4,599)
Deferred revenues (Note 10)	165,609		159,649	5,960
Employee future benefits liabilities (Note 12)	15,522		14,112	1,410
	246,499		243,728	2,772			218,607	198,528
NET FINANCIAL ASSETS	$354,997		$332,365	22,633			########	$ (198,528)
MUNICIPAL POSITION
FUND BALANCES										-2569
Operating Fund  (Note 14)	$   (3,208)		$       432	(3,640)			$    3,814	$      3,856
Capital Fund (Note 14)	51,053		23,963	27,090			25,997	23,198
Reserves and Reserve Funds (Note 14)	126,860		127,132	(272)			119,076	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)	186,304		186,304	-			174,471	168,191
FUND BALANCES	361,009		337,831	23,178			323,358	293,952	29,406
AMOUNTS TO BE RECOVERED (Note 6)
From reserves and reserve funds on hand	(6,012)		(5,466)	(546)		354995	(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	$354,997		$332,365	22,632			318,361	289,552
The accompanying notes are an integral part of these consolidated financial statements.
	(0)		0				(536,968)	(488,080)