City of Yorkton. Yorkton, Saskatchewan December 31, Mayor Phil DeVos. Councillors. Brian Fromm (Jan. - Oct.) Janet Hill (Oct. - Dec.

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1 Yorkton, Saskatchewan December 31, 2002 Mayor Phil DeVos Les Arnelien Dick DeRyk Brian Fromm (Jan. - Oct.) Janet Hill (Oct. - Dec.) Councillors Randy Goulden Lawrence Wegner Chris Wyatt City Manager G. Wayne Jensen Director of Finance Lonnie Kaal City Clerk Laurie-Anne Rusnak Director of Public Works and Engineering Matt Bernat Director of Leisure Services Jody Hauta (Jan. - Sept.) Darcy McLeod (Oct. - Dec.) Fire Chief Jim Ennis Police R.C.M.P. Property Manager Bill Hawkins Agriplex Manager Susan Buckle Manager of Community Planning Jeffrey Humble City Solicitor Rusnak, Balacko, Kachur & Rusnak Auditors ParkerQuine LLP, Chartered Accountants

2 Yorkton, Saskatchewan December 31, Table of Contents Consolidated Financial Statements Page Auditors' Report 1 Consolidated Statement of Financial Position Consolidated Statement of Financial Activities and 2 Changes in Fund Balances Consolidated Statement of Changes in Financial Position 3 4 Consolidated Statement of Changes in Unappropriated Surplus (Reserves) Notes to Financial Statements Unconsolidated Financial Statements Operating Fund Statement of Financial Position 11 Statement of Financial Activities and Changes in Fund Balance 12 Capital Fund Statement of Financial Position 13 Statement of Equity in Capital Fund Assets 14 Property Development Fund Statement of Financial Position 15 Statement of Property Development Fund Balance 16 Other Funds Statement of Financial Position 17 Statement of Fund Balances 17 Schedules to Financial Statements Details of Revenues 18 Details of Expenditures Waterworks Statement of Financial Activities and Changes in Fund Balance 22 Bus Services Statement of Financial Activities Airport Services Statement of Financial Activities Agriplex Statement of Financial Activities 24 Deer Park Golf Course Statement of Financial Activities Analysis of Long-Term Debt Schedule of Reserves Statistical Information 27 28

3 PARKERQUINE LLP Chartered Accountants Business Advisors Auditors' Report Mayor and Councillors City of Yorkton We have audited the Consolidated Statement of Financial Position of the City of Yorkton as at December 31, 2002 and the Consolidated Statements of Financial Activities and Changes in Fund Balances, Changes in Financial Position and Changes in Reserves for the year then ended. These financial statements have been prepared for filing with Saskatchewan Municipal Affairs and do not fully conform to Public Sector Accounting recommendations. These financial statements are the responsibility of the city's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Canadian generally accepted auditing standards. Those standards require that we plan and perform an audit to obtain reasonable assurance whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by council, as well as evaluating the overall financial statement presentation. In our opinion, these financial statements present fairly, in all material respects, the financial position of the city as at December 31, 2002 and the results of its operations and changes in its financial position for the year then ended in accordance with the basis of accounting described in note 1 to these financial statements. The additional information as listed in the supporting schedules has been taken from the books and records of the city but has not been independently checked by us other than in the course of our examination of the financial statements to the extent necessary to allow us to render an opinion thereon. PARKERQUINE LLP Yorkton, SK March 31, 2003 Per: 1

4 Consolidated Statement of Financial Position As at December 31, Assets Financial Assets Cash and temporary investments - note 3 Taxes receivable - note 4 10,905, ,813 8,113, ,132 Accounts receivable - note 5 1,554,560 1,768,433 Materials and supplies - note 6 Other assets 413, , ,292 97,489 Property held for resale - note 7 Long-term investments - note 8 6,578,809 4,064,116 6,743,485 4,805,444 Liabilities 24,484,815 22,643,767 Accounts payable 1,728,203 1,308,471 Utility deposits Deferred revenues 90,311 72,402 85, ,304 Accrued landfill closure and post-closure - note 9 Other liabilities 0 21, ,881 Long-term debt 3,535,060 4,276,387 5,447,927 5,817,892 Net Financial Assets 19,036,888 16,825,875 Non-Financial Assets Capital assets 62,887,335 60,636,963 Net Assets $ 81,924,223 $ 77,462,838 Municipal Position Appropriated net assets (reserves) Unappropriated net assets (surplus) 14,304,539 3,414,873 13,018,905 3,385,853 Equity in capital assets Equity in property for resale 58,748,949 4,485,945 55,654,771 4,484,909 Other funds 969, ,400 $ 81,924,223 $ 77,462,838 part of these financial statements. 2

5 Consolidated Statement of Financial Activities and Changes in Fund Balances Revenue Taxation 8,660,061 7,331,033 Provincial utility surcharges 2,173,465 2,021,962 Grants in lieu of taxes Sales of services 426,013 2,162, ,476 2,169,993 Other revenue from own sources Grants from other governments 578,165 1,631, , ,522 Waterworks 4,343,464 4,553,992 Bus and airport services Profit on land sales 133, , , ,176 Other 74,099 20,311,521 67,129 18,646,829 Expenditures General government services 2,681,175 1,555,090 Protective services Transportation services 3,637,313 1,852,945 3,571,715 1,839,274 Environmental health services Social and family services 846, , ,656 93,682 Environmental development services Recreation and cultural services 387,156 3,083, ,894 2,877,379 Fiscal services 89, ,993 Waterworks Bus and airport services 2,402, ,484 2,466, ,625 Asset write-downs and losses on disposals 473,800 15,798,084 1,110,049 15,063,231 Excess of Revenue Over Expenditures 4,513,437 3,583,598 Capital/Debt Capital transactions 689, ,184 Long-term debt repaid ( 741,327) ( 690,735) ( 52,052) ( 55,551) Change in Municipal Position (Surplus) 4,461,385 3,528,047 Municipal position, beginning of year 77,462,838 73,934,791 Municipal Position, End of Year $ 81,924,223 $ 77,462,838 Consisting of: Appropriated net assets (reserves) Unappropriated net assets (surplus) 14,304,539 3,414,873 13,018,905 3,385,853 Equity in capital assets Equity in property for resale 58,748,949 4,485,945 55,654,771 4,484,909 Other funds 969, ,400 $ 81,924,223 $ 77,462,838 part of these financial statements. 3

6 Consolidated Statement of Changes in Financial Position Operating Activities Excess of revenues over expenditures 4,513,437 3,583,598 Add (deduct): Non-cash items 503,208 1,076,687 Other ( 41,073) ( 44,887) 4,975,572 4,615,398 Change in non-cash working capital Accounts receivable ( 9,809) 657,619 Inventories Deferred charges/prepaid expenses ( 197, ,700) ( ( 35,209) 11,367) Accounts payable 415, ,796 Other liabilities ( 44,370) ( 67,750) 415, ,089 5,391,434 5,436,487 Investing Activities Proceeds - sale of land - sale of investments 895, , , ,170 Acquisition of land ( 795,640) ( 707,839) Acquisition of capital assets ( 2,699,305) ( 2,318,325) ( 1,858,558) ( 1,999,820) Financing Activities Repayment of debenture debt ( 741,328) ( 690,736) Increase in Cash Position 2,791,548 2,745,931 Cash position, beginning of year 8,113,492 5,367,561 Cash Position, End of Year $ 10,905,040 $ 8,113,492 Cash and temporary investments $ 10,905,040 $ 8,113,492 part of these financial statements. 4

7 Consolidated Statement of Changes in Unappropriated Surplus (Reserves) Sources of Funds Transfers from operations Transfer from property sales 1,895, ,047 2,190,741 75,820 2,024,625 2,266,561 Uses of Funds Transfers to operations 738, ,150 Excess of Sources Over Uses 1,285,634 1,343,411 Balance, beginning of year 13,018,905 11,675,494 Balance, End of Year $ 14,304,539 $ 13,018,905 part of these financial statements. 5

8 Notes to Financial Statements 1. Basis of Presentation of Financial Statements These consolidated financial statements report the activities of the City of Yorkton and include the general operating, capital, property development and trust funds. The general operating fund includes the operations of the water and sewer utility, bus, airport, Yorkton City Library, Parkland Agriplex and Deer Park Golf Course. All interfund assets, liabilities, revenues and expenditures have been eliminated. The city also owns 100% of the shares in Yorkton Housing Corporation. This investment has been accounted for on the cost basis. 2. Significant Accounting and Reporting Policies The consolidated financial statements of the City are the representation of management in accordance with the following accounting policies: (a) Basis of accounting The municipality's financial transactions are segmented into various self-balancing funds. These have been consolidated for reporting purposes. As well, unconsolidated financial statements have been presented. These financial statements have been prepared in accordance with Canadian generally accepted accounting principles. A summary of the exceptions to Canadian generally accepted accounting principles follows: (i) Capital assets (b) Inventories Capital assets are accounted for at cost in the Capital Fund irrespective of the sources of financing. They are retained at cost until expiry of their useful economic lives at which time they are written off to Equity in Capital Assets. That portion of asset acquisitions financed from current operations is included in current expenditures of the Operating Fund. Inventories of stock and supplies for resale and internal use are valued at lower of cost and replacement cost. (c) Investments and other assets Investments and other assets are carried at cost. 6

9 Notes to Financial Statements Cash and Temporary Investments Cash 65, ,778 Temporary investments 10,839,150 7,591, Taxes Receivable Taxes receivable are shown net of allowances for uncollectible accounts as follows: $ 10,905,040 $ 8,113,492 Total taxes 1,222,362 1,021,995 Less: School share 412, , , ,252 Less: Allowance for doubtful accounts 81,120 76,120 $ 728,813 $ 505, Accounts Receivable Intergovernmental accounts 266, ,984 Water and sewer accounts 406, ,331 Property accounts 474, ,236 Other accounts 445, ,171 1,593,618 1,782,722 Less: Allowance for doubtful accounts 39,058 14, Materials and Supplies $ 1,554,560 $ 1,768,433 Materials and supplies consist of inventories purchased for own use and for resale. It is not possible to determine which inventories are for resale and which are for own use. A substantial portion is used in property development which is for resale. 7. Property for Resale Property is shown net of allowances for losses as follows: Tax title property - at cost 496, ,098 Less: School share 146, , , ,890 Less: Allowance for losses 252, ,734 96,916 64,156 Other property held 7,081,628 7,224,782 Less: Allowance for losses 599, ,453 6,481,893 6,679,329 Total $ 6,578,809 $ 6,743,485 7

10 Notes to Financial Statements Long-Term Investments Long-term investments consist of: City of Yorkton debentures 3,535,060 4,276,388 Shares in Yorkton Housing Corp. 49,741 49,741 Equity in subsidized housing 479, ,315 $ 4,064,116 $ 4,805,444 The investments in subsidized housing are detailed in the Capital Fund Statement of Financial Position. The City owns 100% of the shares in Yorkton Housing Corporation, a non-profit organization, providing housing to seniors under an agreement with Canada Mortgage and Housing Corporation. The following is a schedule of relevant information for this organization. Yorkton Housing Corporation Condensed Statement of Operations and Surplus (12 Months) (9 Months) Revenues 335, ,323 Expenditures Excess of revenues over expenditures 267,135 68, ,987 38,336 Appropriation to reserves ( 63,497) ( 26,249) Debt repayment ( 10,040) ( 7,203) Surplus (deficit) for the period ( 5,228) 4,884 Surplus, beginning of period 408, ,225 Surplus, end of period $ 402,881 $ 408,109 Condensed Balance Sheet Current assets 165, ,302 Investments Capital assets 436, , , ,982 $ 856,056 $ 807,264 Current liabilities 1,875 1,312 Long-term liabilities 11,970 22,009 Reserves Share capital 389,584 49, ,088 49,746 Surplus 402, ,109 $ 856,056 $ 807,264 During 2001, the corporation changed its year-end from March 31 to December 31. 8

11 Notes to Financial Statements 9. Landfill Closure and Post-Closure The City has operated an active landfill site since 1981 comprising 52 acres on a site that can be expanded to 80 acres. Best estimates indicate the remaining life of the active landfill pit is 10 years. The City also has an additional 80 acres adjacent to the current site. The estimated remaining life for this site is 60 years. The main components of the landfill closure plan are final capping using specific layers or earthern materials together with drainage and gas management. The 52-acre site will require two feet of cover placed over the existing cells and the intention would be to use materials from the adjacent one-quarter section to the east. This parcel of land is owned by the City and will be used to expand the existing landfill site when required. The estimated closure cost would be approximately $375,000. Current landfill reserves in excess of $250,000, together with annual budget allocations, are expected to cover the liability over the next ten years. 10. Contingent Liabilities (a) Property restoration and clean-up The city holds properties, acquired through tax enforcement, which are environmentally contaminated. The extent of contamination has not yet been determined. The cost of clean-up and degree of restoration will be dependent on the extent of contamination and the purpose for which the property will be used. A liability has not been accrued for the potential costs; however, the city holds $99,937 in reserves intended to be used for such costs. Costs for restoration and clean-up will be charged against the reserve. Should costs exceed the reserve balance, they will be charged against revenue in the year they occur. (b) Firefighter negotiations Negotiations with the firefighters for a contract covering 1999, 2000 and 2001 have not been settled and are going to binding arbitration. At this time, the amount of any settlement and its effects on 1999, 2000 and 2001 is not determinable. As well, a new contract for 2002 has not been negotiated. 11. Commitments The city has committed $3.6 million to the Health Foundation of East Central Saskatchewan Inc. This commitment is to be paid in the amount of $720,000 per year for five years commencing in The commitment for 2002 has been paid. 9

12 Notes to Financial Statements 12. Estimates The preparation of financial statements in accordance with Canadian generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reported period. These estimates are reviewed periodically and, as adjustments become necessary, they are reported in earnings in the period in which they became known. 13. Financial Instruments For cash and cash equivalent, accounts receivable, accounts payable and accrued liabilities, the carrying amount of these financial instruments approximate their fair value due to their short-term maturity or capacity of prompt liquidation. (a) Significant terms and conditions There are no significant terms and conditions related to financial instruments classified as current assets or current liabilities that may affect the amount, timing and certainty of cash flows. (b) Credit risk The city is exposed to credit risk on the accounts receivable from its customers. In order to reduce this risk, the city has adopted policies which include the analysis of financial position of its customers and the regular review of their credit limits. 14. Comparative Figures Certain balances for comparative purposes have been reclassified to conform with the current year's presentation. 10

13 Operating Fund Statement of Financial Position As at December 31, Assets Financial Assets Cash and temporary investments 10,018,010 7,245,770 Taxes receivable Accounts receivable 728,813 1,080, ,132 1,468,197 Due from other funds 2,302,900 2,722,286 Materials and supplies Other assets 413, , ,292 97,489 Property held for resale Long-term investments 96,916 3,261,050 64,156 3,874,934 18,141,223 16,588,256 Liabilities Accounts payable 1,710,186 1,294,456 Utility deposits 90,311 85,849 Deferred revenues 72, ,304 Other liabilities 21,951 36,881 1,894,850 1,527,490 Net Assets $ 16,246,373 $ 15,060,766 Municipal Position Appropriated net assets (reserves) Unappropriated net assets (surplus) 12,831,500 3,414,873 11,674,913 3,385,853 $ 16,246,373 $ 15,060,766 part of these financial statements. 11

14 Statement of Financial Activities and Changes in Fund Balance Budget Revenue Taxation Provincial utility surcharges 8,580,000 1,775,000 8,660,061 2,173,465 7,331,033 2,021,962 Grants in lieu of taxes Sales of services 435, , ,476 General 1,168,400 1,328,281 1,336,573 Agriplex revenue Deer Park Golf Course revenue 384, , , , , ,996 Other revenue from own sources Grants from other governments 409, , ,846 1,631, , ,375 Waterworks utility revenue Bus services revenue 4,445,755 45,000 4,343,464 47,044 4,553,992 45,237 Airport services revenue 111,700 86,430 83,623 18,479,340 19,973,610 17,981,021 Expenditures General government services 2,151,395 2,681,175 1,555,090 Protective services 3,735,525 3,637,313 3,571,715 Transportation services Environmental health services 1,973, ,090 1,852, ,223 1,839, ,656 Social and family services Environmental development services 89, , , ,156 93, ,894 Recreation and cultural services Agriplex expenditures 1,653, ,900 1,660, ,817 1,479, ,004 Deer Park Golf Course 367, , ,974 Library services Fiscal services 301,625 85, ,050 85, ,652 85,000 Waterworks 2,611,870 2,402,408 2,466,072 Bus services 154, , ,002 Airport services 111,700 77,591 83,623 15,266,710 15,291,572 13,917,387 Excess of Revenue Over Expenditures 3,212,630 4,682,038 4,063,634 Capital/Debt Capital outlays from operations ( 7,342,300) ( 2,612,701) ( 1,737,512) Long-term debt repaid ( 741,330) ( 741,327) ( 690,735) Internal debt repaid ( 142,400) ( 142,400) ( 366,156) ( 8,226,030) ( 3,496,428) ( 2,794,403) Surplus (Deficit) for the Year ( 5,013,400) 1,185,610 1,269,231 Transfer from (to) reserves 5,019,600 ( 1,156,590) ( 1,267,591) Change in Unappropriated Surplus $ 6,200 29,020 1,640 Unappropriated surplus, beginning of year 3,385,853 3,384,213 Unappropriated Surplus, End of Year $ 3,414,873 $ 3,385,853 part of these financial statements. 12

15 Capital Fund Statement of Financial Position As at December 31, Assets Long-Term Investments Shares in Yorkton Housing Corporation Equity in low rental housing units 49,741 33,750 49,741 33,750 Equity in senior citizens' apartments 152, ,840 Equity in Sask. Housing Apts. - Victoria Court - Fisher Court 78, ,488 78, ,488 Equity in Independent Manor 109, , , ,056 Capital Assets General 34,683,840 33,936,175 Machinery Waterworks 4,161,853 24,041,642 3,798,629 22,877,025 General 25,134 62,887,335 60,636,963 Total Assets 63,416,391 61,166,019 Liabilities Due to other funds 1,132,382 1,234,861 Debentures 3,535,060 4,276,387 4,667,442 5,511,248 Net Assets $ 58,748,949 $ 55,654,771 Municipal Position Equity in capital assets $ 58,748,949 $ 55,654,771 part of these financial statements. 13

16 Statement of Equity in Capital Fund Assets Revenues Grants from other governments 307, ,147 Donations Other 3,075 73,599 10,679 67, , ,955 Expenditures Loss on disposal of assets 10,966 79,516 Write-off of assets 412, , ,800 1,010,049 Excess of Expenditures Over Revenues ( 40,126) ( 637,094) Transfers from operations and reserves 3,134,304 2,738,853 Increase in Fund 3,094,178 2,101,759 Balance, beginning of year 55,654,771 53,553,012 Balance, End of Year $ 58,748,949 $ 55,654,771 part of these financial statements. 14

17 Property Development Fund Statement of Financial Position As at December 31, Assets Financial Assets Cash and temporary investments 16,578 99,887 Accounts receivable Long-term investments 474, , , , , ,347 Property held for resale Residential 2,375,696 2,329,006 Commercial Industrial 1,914, ,817 2,138, ,656 Mobile home parks Rental housing 636,203 90, ,203 90,796 Farmland 1,184,525 1,184,525 C.N. right-of-way 539, ,169 Other 5,431 18,899 7,081,628 7,224,782 Less: Allowances for losses 599, ,453 6,481,893 6,679,329 7,147,344 7,333,676 Liabilities Due to other funds Deposits on property 1,170,343 18,017 1,490,760 14,015 1,188,360 1,504,775 Net Assets $ 5,958,984 $ 5,828,901 Municipal Position Appropriated net assets (reserves) Equity in property for resale 1,473,039 4,485,945 1,343,992 4,484,909 $ 5,958,984 $ 5,828,901 part of these financial statements. 15

18 Statement of Property Development Fund Balance Revenues Interest income 20,979 33,032 Rents - mobile home subdivision - other 81,438 22,558 81,144 36,193 Profit on property sales 129, ,176 Other , ,545 Expenditures Grants deducted from property held Interest on loan 41,727 57,808 Losses on property sales 50, ,000 Transfers to allowances 4,282 30,993 Other 28,430 4, , ,603 Excess of Revenues Over Expenditures 130,083 96,942 Transfers from (to) reserves ( 129,047) ( 75,819) Increase in Fund 1,036 21,123 Balance, beginning of year 4,484,909 4,463,786 Balance, End of Year $ 4,485,945 $ 4,484,909 part of these financial statements. 16

19 Other Funds Statement of Financial Position As at December 31, Assets Financial Assets Cash and temporary investments 870, ,835 Due to/from other funds Long-term investments ( 175) 99,640 3, ,230 Net Assets $ 969,917 $ 918,400 Municipal Position Cemetery perpetual care fund Insurance fund 752, , , ,950 $ 969,917 $ 918,400 Statement of Fund Balances Cemetery Perpetual Care Fund Revenue Perpetual care fees and permits 8,450 9,720 Interest on investments 34,140 42,590 39,358 49,078 Expenditures Transfers to revenue fund 0 0 Excess of Revenue Over Expenditures 42,590 49,078 Balance, beginning of year 709, ,372 Balance, End of Year $ 752,040 $ 709,450 Insurance Fund Revenue Interest on investments 8,927 11,038 Expenditures Claims paid 0 0 Excess of Revenue Over Expenditures 8,927 11,038 Balance, beginning of year 208, ,912 Balance, End of Year $ 217,877 $ 208,950 part of these financial statements. 17

20 Details of Revenue Budget Sales of Services General sales Protective sales 113, , , , , ,954 Transportation sales Environmental sales 36, , , , , ,330 Public health sales 65,600 55,274 59,767 Recreation sales Agriplex revenues 515, , , , , ,367 Deer Park revenues 378, , ,996 $ 1,931,500 $ 2,049,660 $ 2,042,936 Other Revenue from Own Sources General services Interest and penalties 407, , ,392 Other general services 2,000 16, ,995 $ 409,025 $ 555,846 $ 706,387 Grants from Other Governments General 663,160 1,476, ,270 Protective 14,800 14,800 14,800 Recreational 68, ,854 89,305 $ 746,360 $ 1,631,627 $ 677,375 part of these financial statements. 18

21 Details of Expenditures Budget General Government Services Legislative Grants 168, , ,150 1,250, , ,073 Receptions and recognitions Administrative 9, ,680 3, ,502 4, ,682 Taxation policies 113, , ,837 Office services Advisory and technical services 195, , , , , ,679 City office building City-owned property 171,500 18, ,243 54, ,363 6,293 City Hall building costs allocated to other departments ( 207,960) ( 207,958) ( 207,958) Interest on long-term debt 23,670 23,670 30,773 2,151,395 2,681,175 1,555,090 Long-term debt repaid 125, , ,382 Internal debt repaid Capital outlays from operations 60,000 18, ,000 82,961 Transfer to reserves 25, , ,770 $ 2,361,880 $ 3,439,749 $ 2,165,203 Protective Services R.C.M.P. costs Bylaw control and court costs 2,251, ,940 2,160, ,253 2,185,370 93,213 Fire department Administration Prevention and education 101, , , ,804 95, ,687 Fighting supplies Trucks and equipment 81,865 45,200 78,131 47,420 73,691 41,960 Fire hall maintenance 26,800 25,690 25,511 Hydrant rentals E.M.O. 150,000 12, ,000 12, ,000 8,964 Occupational Health and Safety 3,000 3,735,525 1,268 3,637,313 3,022 3,571,715 Capital outlays from operations 90,000 88, ,847 Transfer to (from) reserves ( 36,900) 55,648 ( 41,847) Internal debt repaid 60,400 60,400 60,400 $ 3,849,025 $ 3,841,553 $ 3,722,115 part of these financial statements. 19

22 Details of Expenditures - Continued Budget Transportation Services Public works administration Public works office 451,990 51, ,987 48, ,443 49,973 Workshop expenses Surfaced streets and lanes 109, , , , , ,918 Gravelled streets and lanes 66,500 42,420 64,398 Drainage and storm sewer maintenance Ice control 81,000 55,500 87,874 54,230 81,390 51,972 Snow removal Maintenance curbs and sidewalks 145, ,000 98,825 97, ,058 71,316 Street lighting Decorative lighting 414,000 21, ,742 21, ,393 23,260 Traffic control 108, , ,937 Street signs and markings Maintenance of railway crossings 6,800 19,000 4,266 16,928 4,664 18,148 Parking lots and meters Custom work 12,000 14,000 7,182 47,698 4,779 16,779 Interest on long-term debt Long-term debt repaid 1,973,145 1,960 1,852,945 1,959 1,839,274 1,814 Capital outlays from operations Transfer to (from) reserves ( 891, ,000) 695, ,142 ( 505,776 12,663) $ 2,394,605 $ 2,833,795 $ 2,334,201 Environmental Health Services Superintendence 5,500 6,240 5,521 Street cleaning Refuse removal 74, ,140 51, ,414 69, ,610 Waste disposal - contaminated soils 8,000 4,852 6,030 - grounds 152, , ,163 - gate 31,350 27,745 26,990 Tire recycling and disposal 150, , , , , ,656 Capital outlays from operations Transfer to (from) reserves 25,000 ( 30,816 43,138) 7, ,601 $ 860,090 $ 833,901 $ 894,409 Social and Family Services Sask. Abilities Council 25,500 34,738 34,317 Occupational Health and Safety 2,500 4,251 3,902 Cemeteries 61,600 89,600 61, ,473 55,463 93,682 Capital outlays from operations Transfer to (from) reserves ( 140, ,000) ( 118,559 43,559) 3,030 56,870 $ 109,600 $ 175,473 $ 153,582 part of these financial statements. 20

23 Details of Expenditures - Continued Environmental Development Services Economic development Administration Client services Budget 225,740 8, ,779 4, ,880 13,084 Special projects Heritage committee 142, ,037 49,610 1,906 Housing 9,000 7,620 6,621 Yorkton Creek Watershed Association Zoning and district planning 2,000 19,000 1,949 10,015 1,949 12,844 Transfer to reserves 405, ,156 9, ,894 0 $ 405,740 $ 396,156 $ 393,894 Recreation and Cultural Services Administration 370, , ,351 Parks shop expense Parks maintenance 32, ,750 32, ,559 32, ,064 Forestry 64,200 49,490 52,532 Boulevards Horticultural services 12,550 33,500 13,473 28,917 9,438 27,913 Ball diamonds Outdoor recreational facilities 20,600 29,000 18,723 59,469 16,601 23,451 Campground 40,000 37,420 32,330 Other facilities Kinsmen Arena - concession 6,800 40,300 6,523 37,033 6,768 35,814 Godfrey Dean - operation 204,950 43, ,474 42, ,865 40,555 Recreation programs 137, , ,504 Swimming pool programs 294, , ,663 Gloria Hayden Community Centre 77,200 74,074 68,389 1,653,220 1,660,938 1,479,749 Capital outlays from operations 480, , ,643 Internal debt repaid Transfer to (from) reserves ( 182,700) 89,729 33, ,349 $ 1,950,620 $ 1,991,015 $ 1,818,997 Library Services Library building maintenance 56,400 49,568 43,457 Library operations Regional library charges 36, ,125 38, ,125 32, , , , ,652 Capital outlays from operations Transfer to (from) reserves 17,000 ( ) $ 301,625 $ 314,050 $ 266,652 Fiscal Services Transfer to allowances $ 85,000 $ 85,000 $ 85,000 part of these financial statements. 21

24 Waterworks Statement of Financial Activities and Changes in Fund Balance December 31, 2002 Budget Revenue Sale of water 3,300,000 3,166,440 3,372,776 Infrastructure revenue Hydrant rental 615, , , , , ,000 Sewer service tax 6,632 7,094 Sundry Conditional grant - federal 42,170 1,400 71,728 1,720 49,480 1,413 Transfer from general revenue 337,185 4,445, ,330 4,343, ,168 4,553,992 Expenditures General administration 242, , ,036 Water meter services Wells 154, , , , , ,802 Distribution systems Water treatment plants 366, , , , , ,502 Water tower 10,000 6,529 5,271 Sewage plant Sanitary sewers 527, , , , ,934 88,436 Sewer and water connections Interest on long-term debt 38, ,215 40, ,215 47, ,998 2,611,870 2,402,408 2,466,072 Excess of Revenue Over Expenditures 1,833,885 1,941,056 2,087,920 Long-term debt repaid 613, , ,539 Capital outlays from operations 5,550,000 1,294, ,494 Transfer to (from) reserves (4,330,000) 32, ,887 1,833,885 1,941,056 2,087,920 Surplus $ 0 $ 0 $ 0 part of these financial statements. 22

25 Bus Services Statement of Financial Activities December 31, 2002 Budget Revenue Ticket sales 45,000 47,044 45,237 Expenditures Administration Operating contract 9,800 80,000 9,830 82,123 8,944 88,134 Operating costs 24,000 11,943 22,960 Bus stop maintenance 41,000 33,997 52, , , ,002 Excess of Expenditures Over Revenue ( 109,800) ( 90,849) ( 127,765) Transfer to reserves 72,000 72,000 72,000 Surplus (Deficit) $( 181,800) $( 162,849) $( 199,765) Airport Services Statement of Financial Activities Revenue Deferred revenue 69,700 33,050 34,447 Lease revenue 26,000 30,569 27,018 Usage fees/taxes Custom revenue 15, ,733 9,078 14,200 7, ,700 86,430 83,623 Expenditures Administration Utilities 10,000 19,400 11,925 14,214 8,459 14,420 Structural maintenance 8,300 4,774 4,575 Airfield maintenance 56,000 30,588 34,186 Mobile maintenance 18,000 16,090 21, ,700 77,591 83,623 Excess of Revenue Over Expenditures 0 8,839 0 Transfer to reserves 0 8,839 0 Surplus $ 0 $ 0 $ 0 part of these financial statements. 23

26 Agriplex Statement of Financial Activities December 31, 2002 Budget Revenue Arena 165, , ,372 Swimming pool Agri-pavilion 73,500 17,000 73,500 19,717 73,500 16,820 Grounds 7,000 8,673 7,057 Convention centre Curling rink rental 38,000 49,000 42,368 49,209 40,041 48,314 Other rentals Concessions ,000 2,441 27, ,293 Other revenue 1, Advertising revenue 3,000 3,000 3, , , ,367 Expenditures General Arena 422, , , , , ,205 Swimming pool 58,000 57,233 54,956 Agri-pavilion Grounds 30,750 12,750 41,973 11,360 38,197 20,762 Exhibition buildings Convention centre 4,500 24,500 5,767 25,758 5,694 33,189 Curling rink Concessions 54,800 5,350 48,144 5,142 62,265 3, , , ,004 Excess of Expenditures Over Revenue ( 406,300) ( 384,079) ( 433,637) Capital outlays from operations 18,700 22, ,961 Transfer to (from) reserves 38,105 ( 89,038) 18,700 60,917 58,923 Surplus (Deficit) $( 425,000) $( 444,996) $( 492,560) part of these financial statements. 24

27 Deer Park Golf Course Statement of Financial Activities December 31, 2002 Budget Revenue Golf course Season tickets Green fees 149, , , , , ,259 Other 50,000 47,330 52,782 Concession/lounge 27, ,500 25, ,641 30, ,996 Expenditures General Golf course 82, ,700 70, ,310 74, ,953 Club house 33,400 35,453 37,532 Concession/lounge , , ,974 Excess of Revenue Over Expenditures 11,400 ( 19,949) 9,022 Capital outlays from operations 112, ,048 41,080 Transfer to reserves 22,740 9,229 Internal debt repaid 82,000 82,000 22, , ,788 72,809 Surplus (Deficit) $( 182,600) $( 227,737) $( 63,787) part of these financial statements. 25

28 Analysis of Long-Term Debt Debenture Debt Year Term Year Amount of of of Interest of Redeemed Unmatured Amount Due in 2002 Particulars Bylaw No. Issue Years Maturity Rate Issue Dec. 31/02 Principal Principal Interest P.F.R.A. water supply Sewage treatment plant 16-18/ ,000,000 1,937,272 1,062, , ,872 New sewage treatment plant 11-27/ ,500,000 2,301,677 2,198, , ,343 Local improvements 21/ ,200 14,200 1, City hall 34/ ,100, , , ,485 23,669 $ 8,614,200 $ 5,079,140 $ 3,535,060 $ 741,328 $ 424,041 Internal Debt Year Term Year Amount Paid of of of Interest of to Outstanding Amount due in 2002 Issue Years Maturity Rate Issue Dec. 31/02 Dec. 31 Principal Interest Deer Park Golf Course ,031, , ,627 82,000 Fire truck , , ,755 50,345 10,055 Grass-cutting equipment ,605 31,605 55,000 31,605 $ 1,379,232 $ 246,850 $ 1,132,382 $ 163,950 $ 10,055 part of these financial statements. 26

29 Schedule of Reserves December 31, 2002 Reserves for Future Expenditures Balance Jan. 1 Increase (Decrease) Balance Dec. 31 Operating Fund General government 1,041, ,723 1,625,898 Protection 368,756 55, ,404 Transportation General 965, ,386 1,513,158 Machine earnings Environmental health 632, ,468 ( ( 245,630) 5,816) 386, ,652 Public health and welfare Environmental development 130, ,821 ( 43,559) 11,677 87, ,498 Recreation, parks and culture Recreation, parks and culture Agriplex 554,232 89,729 38, ,961 38,105 Deer Park Library 9, ,342 22,740 17,000 32, ,342 Waterworks 6,906,642 32,584 6,939,226 Transit ,674,913 1,104,587 52,949 12,831,500 Property Development Fund Capital - infrastructure Other 1,296,992 47, ,047 1,426,039 47,000 1,343, ,047 1,473,039 Consolidated Total $ 13,018,905 $ 1,233,634 $ 14,304,539 part of these financial statements. 27

30 Yorkton, Saskatchewan December 31, 2002 Statistics for the Year Assessment Residential 276,644, ,160,085 Commercial 154,240, ,876,175 Total taxable assessment Grants in lieu/reserve 430,884,895 14,746, ,036,260 21,331,500 Exemption not included in above 445,631, ,067, ,367, ,537, ,698, ,905, Uniform Mill Rate: Municipal mills mills Education: Public school mills mills Separate school mills mills Public/separate supporter - residential Public/separate supporter - commercial mills 31.75/32.50 mills mills 41.55/42.30 mills Tax Levy Collections (Including Grants In Lieu) Municipal (including library) 9,082,412 7,844,445 Public School Division #93 Separate School Division #86 5,724,164 2,634,920 5,395,619 2,510,389 17,441,496 15,750,453 Tax Arrears Current year taxes owing 746, ,887 Previous year(s) in arrears 476, ,124 1,222,361 1,091,011 Analysis of Debenture Debt City general 274, ,494 Sewage treatment plant 3,261,050 3,874,934 Local improvements 1,959 3,535,059 4,276,387 Internal debt 1,132,382 1,209,727 Total 4,667,441 5,486,114 Population 2002 Canadian census 15, Saskatchewan Health 17,032 part of these financial statements. 28

31 FINANCIAL STATEMENTS City of Yorkton Year Ended December 31, 2002