CAnFR 2017 Full Report

Consolidated Financial Statements

11. Debt (Schedule 4) The City obtains debt instruments through the Municipal Finance Authority (MFA), pursuant to security issuing bylaws under authority of the Community Charter, to finance certain capital expenditures. Debt is reported net of Sinking Fund balances and interest expense is reported net of Sinking Fund earnings.

The City carries no debt for others.

The following debenture debt amounts plus related interest are payable over the next five years and thereafter:

Debt Payments $ 2,129,744

2018 2019 2020 2021 2022

2,172,036 2,215,521 2,260,235 2,306,211 12,253,117 4,936,843

Thereafter

Sinking Fund Contributions Debt principal repayments

$ 28,273,707

The City has the following authorized but un-issued long term debt as at December 31, 2017 :

L/A Bylaw

L/A Amount

#6558 #6560 #6679

$ 6,000,000

275,000

1,100,000 $ 7,375,000

12. Tangible Capital Assets

Net book value

2017

2016

Land

$

226,003,706 $

215,898,649 45,632,627 223,230,279 201,919,428 13,625,491 113,622,225 126,551,687 15,164,227 960,396,101 4,751,490

Buildings

44,141,166 218,934,481 206,751,562 14,680,214 116,201,245 128,186,305 16,730,081 4,516,466

Transportation network Storm sewer system Fleet and equipment

Technology

Water system

Sanitary sewer system

Other

$

976,145,224 $

For additional information, see the Schedule of Tangible Capital Assets (Schedule 5)

During the year there were no write-downs of assets (2016 - $Nil) and no interest was capitalized (2016 - $Nil). In addition, roads and related infrastructure, underground networks and land contributed to the City totaled $16,725,863 ( $39,062,791 for 2016) and were capitalized at their fair value at the time of receipt. Works of art, artifacts, cultural and historic assets are not recorded as assets in the financial statements. The City controls various works of art and historical treasures including artifacts, paintings, sculptures and mosaics located at City sites and public display areas.

City of Maple Ridge - 2017 Annual Report Page 50