CAnFR 2017 Full Report

Consolidated Financial Statements

13. Undeveloped Land Bank The City owns property in various areas identified for future growth in the Official Community Plan. These properties are not currently used in the provision of service to the citizens of Maple Ridge. The properties represent a strategic, non-renewable resource available for the advancement of Council's strategic plan. 14. Accumulated Surplus Accumulated Surplus is comprised of operating surpluses and equity in tangible capital assets held in the general, sewer and water funds as well as reserves. Accumulated surplus for 2017 is $1,097,939,665 ($1,063,091,751 for 2016) and is distributed as follows: 2017 2016

Operating surplus (Schedule 1)

General

$ 10,011,882 $

9,285,688 8,144,538 11,296,039 28,726,265 709,048,629 127,032,307 114,453,816 950,534,752 38,755,844 45,884,890 84,640,734

Sewer Water

8,935,862 12,840,034 31,787,778 721,401,366 129,423,192 117,671,736 968,496,294 41,639,403 56,016,190 97,655,593

Equity in the capital funds (Schedule 2)

General

Sewer Water

Reserves (Schedule 3)

Funds

Accounts

Accumulated Surplus

$ 1,097,939,665 $ 1,063,901,751

15. Property Tax Levies In addition to its own tax levies, the City is required to levy taxes on behalf of various other taxing authorities. These include the provincial government for local school taxes, incorporated dyking districts located within the City and, organizations providing regional services in which the City has become a member. Taxes levied for other agencies are not included in City revenues. Total tax levies were comprised as follows:

2017

2017 Budget

2016

Municipal Tax Levies

$ 81,729,003 $ 81,624,555 $ 77,452,203

Levies for other authorities School taxes

34,552,104

33,447,351

32,805,061

Greater Vancouver Transit Authority

5,622,711

5,538,987

5,397,878

British Columbia Assessment

995,188 958,555 616,936

949,329 915,066 523,716

925,179 892,390 558,943

Greater Vancouver Regional District

Dyking Districts

Municipal Finance Authority Total Collections for Others

4,328

3,358

3,272

42,749,822

41,377,807

40,582,723

Total Tax Levies

$ 124,478,825 $ 123,002,362 $ 118,034,926

City of Maple Ridge - 2017 Annual Report Page 51