The Corporation of the City of Cambridge 2016 Financial Report PEOPLE PLACE PROSPERITY
City Council Mayor Doug Craig Councillors Ward 1 Councillor Donna Reid Ward 2 Councillor Mike Devine Ward 3 Councillor Mike Mann Ward 4 Councillor Jan Liggett Ward 5 Councillor Pam Wolf Ward 6 Councillor Shannon Adshade Ward 7 Councillor Frank Monteiro Ward 8 Councillor Nicholas Ermeta
City Officials Gary Dyke David Bush Steven Fairweather Neil Main George Elliott Kent McVittie Hardy Bromberg City Manager Commissioner of Human Resources and Legislative Services Chief Financial Officer Fire Chief Commissioner of Transportation and Public Works Commissioner of Community Services Commissioner of Planning and Development Auditors Graham Mathew Professional Corporation Chartered Professional Accountants Bankers TD Canada Trust
Table of Contents Page Number Six Year Financial Review 1-2 Consolidated Financial Statements 3 Responsibility for Financial Reporting 4 Auditors' Report 5 Consolidated Statement of Financial Position 6 Consolidated Statement of Operations and Accumulated Surplus 7 Consolidated Statement of Change in Net Financial Assets 8 Consolidated Statement of Cash Flows 9 Notes to the Consolidated Financial Statements 10-25 Financial Statements, Trust Funds 26 Auditors' Report 27 Financial Position 28 Statement of Continuity 29-36 Notes to the Financial Statements 37 Financial Information Return 38 Declaration of the Municipal Treasurer (02) 39 Consolidated Statement of Operations: Revenue (10) 40-41 Grants, User Fees and Service charges (12) 42 Taxation Information (20) 43 Municipal and School Board Taxation (22) 44-46 Payments-in-lieu of Taxation (24) 47-49 Taxation & Payments-in-lieu Summary (26) 50-51 Consolidated Statement of Operations: Expenses (40) 52-53 Additional Information - Expenses (42) 54 Schedule of Tangible Capital Assets (51) 55-58 Consolidated Statement of change in Net Financial Assets (53) 59 Consolidated Statement of Cashflow (54) 60 Continuity of Reserves and Reserve Funds (60) 61-62 Development Charges Reserve Funds (61) 63 Development Charges Rates (62) 64 Consolidated Statement of Financial Position (70) 65-67 Continuity of Taxes Recievable (72) 68-69 Long Term Liabilities and Commitments (74) 70-72 Government Business Enterprises (76) 73 Statistical Information (80) 74-81 Annual Debt Repayment Limit (81) 82
Table of Contents Financial Statements, Boards and Enterprises Page Number The Cambridge Public Library Board 83-106 Cambridge and North Dumfries Energy Plus Inc. 107-145 Downtown Cambridge Business Improvement Area 146-153 Preston Towne Centre Business Improvement Area 154-161 Downtown Hespeler Business Improvement Area 162-169
Six-Year Financial Review (Unaudited) (all dollar amounts are 000's, except per capita figures) 2016 2015 2014 2013 2012 2011 Population at the end of the year* 133,900 134,900 133,800 132,400 132,900 126,700 Area in acres at the end of the year 28,556 28,556 28,556 28,556 28,556 28,556 Employees - continuous F/T budget approved complement 609 608 605 590 576 577 Number of households 49,400 48,700 48,320 47,770 47,770 46,460 Assessment - taxable assessment upon which the year's rates of taxation were set ** Residential, multi-residential and farm $ 12,014,400 $ 11,569,032 $ 11,159,496 $10,711,340 $10,271,237 $ 9,619,340 Commercial - all classes 2,178,299 2,122,959 2,011,250 1,929,983 1,898,119 1,778,044 Industrial - all classes 863,330 831,295 815,918 795,337 793,575 775,626 Pipeline & Managed Forests 29,970 29,359 28,669 27,893 27,150 26,361 Total $ 15,085,999 $ 14,552,645 $ 14,015,333 $13,464,553 $12,990,081 $12,199,371 Per capita $ 112,666 $ 107,877 $ 104,748 $ 101,696 $ 97,743 $ 88,591 Commercial and industrial, as a percentage of taxable 20 % 20 % 20 % 20 % 21 % 21 % assessment Exempt assessment $ 639,676 $ 587,576 $ 524,735 $ 486,703 $ 510,672 $ 455,592 Tax arrears - per capita $ 142.2 $ 139.0 $ 168.9 $ 164.9 $ 160.4 $ 156.3 - percentage of current levy 7.33 % 7.42 % 9.09 % 9.00 % 9.09 % 8.52 % Expenditure - general municipal purposes $ 157,162 $ 150,246 $ 140,927 $ 131,494 $ 122,139 $ 122,393 Transfers to the Region $ 147,781 $ 142,845 $ 139,799 $ 134,719 $ 127,465 $ 123,436 Transfers to the School Boards $ 65,714 $ 65,741 $ 65,789 $ 65,161 $ 63,671 $ 67,182 Revenue for general municipal services Taxation $ 78,368 $ 76,358 $ 72,344 $ 70,238 $ 68,270 $ 65,687 Payments in lieu of taxes 911 900 850 852 842 847 Ontario grants 1,457 1,499 1,882 1,618 1,682 1,713 Fees and services charges 74,180 68,910 65,364 63,953 59,011 55,737 Other 4,992 5,208 5,991 6,225 5,577 5,288 Total $ 159,908 $ 152,875 $ 146,431 $ 142,886 $ 135,382 $ 129,272 * Population estimate was revised in 2011 based on Statistics Canada Census; prior periods' figures were not restated ** Reflects general revision of market value assessment
Six-Year Financial Review (Unaudited) (all dollar amounts are 000's, except per capita figures) 2016 2015 2014 2013 2012 2011 Net long-term liabilities General municipal activities $ 26,179 $ 21,710 $ 14,175 $ 15,591 $ 17,472 $ 19,313 - per capita $ 196 $ 161 $ 107 $ 118 $ 131 $ 152 - percentage of taxable assessment 0.17 % 0.11 % 0.10 % 0.13 % 0.16 % 0.10 % Charges for net long-term liabilities General municipal activities $ 592 $ 430 $ 458 $ 492 $ 522 $ 284 - per capita $ 4.42 $ 3.19 $ 3.46 $ 3.72 $ 3.93 $ 2.24 - percentage of taxable assessment 0.0039 % 0.0030 % 0.0033 % 0.0037 % 0.0040 % 0.0023 % Capital financing during the year Contributions from own funds $ 16,291 $ 22,388 $ 32,254 $ 23,727 $ 26,255 $ 23,472 Canada & Ontario grants 6,127 5,119 3,265 2,071 1,325 9,470 Other 1,848 1,051 779 729 952 7,381 Total $ 24,266 $ 28,558 $ 36,298 $ 26,527 $ 28,532 $ 40,216 Capital expenditures during the year $ 38,788 $ 36,618 $ 30,794 $ 27,862 $ 32,127 $ 33,148 Accumulated surplus - Operating fund $ 209 $ 60 $ 266 $ 356 $ 986 $ (403) - Reserves and reserve funds $ 70,453 $ 63,302 $ 53,790 $ 57,325 $ 53,666 $ 51,619 - Invested in tangible capital assets $ 560,671 $ 535,751 $ 524,933 500,597 491,289 468,088 - Invested in repair and replacement of assets $ 21,744 $ 29,016 $ 27,526 21,516 22,355 25,951 - Cambridge and North Dumfries Energy Plus Inc. $ 79,236 $ 75,880 $ 73,211 $ 70,665 $ 68,404 $ 66,268 - Land held for resale $ 13,941 $ 13,424 $ 14,920 16,492 11,770 7,016 Deferred revenues $ 30,347 $ 28,583 $ 28,566 $ 26,793 $ 22,728 $ 20,777
Consolidated Financial Statements Year Ended December 31, 2016 3
Responsibility for Financial Reporting For the year ended December 31, 2016 The accompanying Consolidated Financial Statements and all other information contained in this Annual Report are the responsibility of the management of The Corporation of the City of Cambridge. The preparation of periodic financial statements involves the use of estimates and approximations because the precise determination of financial information frequently depends on future events. These Consolidated Financial Statements have been prepared by management within the reasonable limits of materiality and within the framework of Canadian generally accepted accounting principles for governments established by the Public Sector Accounting Board of the Chartered Professional Accountants of Canada. In carrying out its responsibilities, management maintains appropriate systems of internal and administrative controls designed to provide reasonable assurance that transactions are executed in accordance with proper authorization, that assets are properly accounted for and safeguarded, and that financial information produced is relevant and reliable. Prior to their submission to Council, the Consolidated Financial Statements are reviewed and approved by the Management Committee. In addition, management meets periodically with the City's external auditors to approve the scope and timing of their respective audits, to review their findings and to satisfy itself that their responsibilities have been properly discharged. Graham Mathew Professional Corporation, Chartered Professional Accountants, as the City's appointed external auditors have audited the Consolidated Financial Statements. The external auditors have full and free access to management and Council. The Auditors' Report is dated May 16, 2017 and appears on the following page. Their opinion is based upon an examination conducted in accordance with Canadian generally accepted auditing standards, performing such tests and other procedures as they consider necessary to obtain reasonable assurance that the Consolidated Financial Statements are free of material misstatements and present fairly the financial position and results of operations of the City in accordance with Canadian public sector accounting standards.... Gary Dyke, City Manager... Steven Fairweather, CPA, CA, MPA Chief Financial Officer 4
INDEPENDENT AUDITORS' REPORT To the Members of Council, Inhabitants and Ratepayers of The Corporation of the City of Cambridge We have audited the accompanying consolidated financial statements of The Corporation of the City of Cambridge, which comprise the consolidated statement of financial position as at December 31, 2016, and the consolidated statements of operations and accumulated surplus, change in net financial assets and cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with Canadian public sector accounting standards, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors Responsibility Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted our audit in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on our judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of The Corporation of the City of Cambridge as at December 31, 2016, and the results of its operations, changes in its net financial assets and its cash flows for the year then ended in accordance with Canadian public sector accounting standards. Cambridge, Ontario May 16, 2017 Chartered Professional Accountants, authorized to practise public accounting by the Chartered Professional Accountants of Ontario 5
Consolidated Statement of Financial Position As at December 31, 2016 2016 2015 (Restated Note 12) Financial assets Liabilities Cash and cash equivalents $ 48,509,280 $ 47,621,068 Taxes and grants-in-lieu (Note 5) 19,036,695 18,787,087 Trade and other receivables (Note 5) 14,897,363 12,533,911 Land held for resale 13,940,682 13,423,828 Investments (Note 6) 149,613,243 148,512,302 245,997,263 240,878,196 Accounts payable and accrued liabilities 31,739,139 32,293,484 Employee future benefits (Note 7) 63,403,532 60,636,966 Deferred revenue (Note 8) 30,346,557 28,583,426 Long-term debt (Note 9) 26,178,753 21,710,155 151,667,981 143,224,031 Net financial assets 94,329,282 97,654,165 Non-financial assets Tangible capital assets (Notes 10 and 12) 560,670,532 540,694,384 Inventories of supplies 533,012 867,236 Prepaid expenses 1,216,740 885,090 562,420,284 542,446,710 Accumulated surplus (Note 15) $ 656,749,566 $ 640,100,875 Approved by...... The accompanying notes are an integral part of these financial statements 6
Consolidated Statement of Operations and Accumulated Surplus For the year ended December 31, 2016 2016 Budget (Note 14) 2016 Actual 2015 Actual (Restated Note 12) Revenues Taxation $ 79,014,200 $ 79,228,209 $ 77,257,657 User fees and charges 75,330,800 74,180,057 68,909,763 Penalties and interest on taxes 2,500,000 2,957,433 3,090,288 Investment income 844,700 882,517 891,577 Fines 1,124,000 1,080,487 1,153,798 Government transfers Canada 72,000 72,000 72,000 Ontario 1,405,000 1,457,149 1,499,141 Deferred revenue earned 190,700 190,700 929,748 Land sales and other 3,784,650 3,449,664 3,414,026 Total revenues 164,266,050 163,498,216 157,217,998 Expenses General government 24,151,876 24,932,219 22,398,367 Protection to persons and property 24,924,900 25,452,248 25,156,955 Transportation services 25,382,215 24,298,127 22,609,197 Environmental services 68,113,563 63,714,869 57,485,116 Health services 1,400,956 1,363,943 1,345,081 Social and family services 2,400,200 2,507,508 2,556,984 Recreation and cultural services 31,088,982 31,186,689 31,743,288 Planning and development 4,188,354 4,063,790 3,735,702 Total expenses 181,651,046 177,519,393 167,030,690 Net expenses before other income (17,384,996) (14,021,177) (9,812,692) Other income Grants and transfers related to capital Deferred revenue earned 1,438,568 3,115,027 Government transfers - Federal 6,127,352 5,119,426 Donated tangible capital assets (Note 10) 15,990,209 12,542,520 Share of net income for the year from Cambridge and North Dumfries Energy Plus Inc. (Note 6) 5,903,610 5,571,129 Interest earned on reserves 1,210,129 1,208,790 30,669,868 27,556,892 Annual Surplus 16,648,691 17,744,200 Accumulated surplus, beginning of year (Note 12) 640,100,875 622,356,675 Accumulated surplus, end of year $ 656,749,566 $ 640,100,875 The accompanying notes are an integral part of these financial statements 7
Consolidated Statement of Change in Net Financial Assets For the year ended December 31, 2016 2016 Budget (Note 14) 2016 Actual 2015 Actual (Restated Note 12) Annual surplus (deficit) $ (17,384,996) $ 16,648,691 $ 17,744,200 Acquisition of tangible capital assets (43,496,200) (24,473,480) (19,917,409) Amortization of tangible capital assets - 20,357,745 16,784,868 (Gain) loss on sale of tangible capital assets - (21,803) 52,409 Proceeds on sale of tangible capital assets - 151,599 215,801 Donated tangible capital assets - (15,990,209) (12,542,520) Change in supplies inventories - 334,224 (305,608) Change in prepaid expenses - (331,650) 134,358 Change in net financial assets (60,881,196) (3,324,883) 2,166,099 Net financial assets, beginning of year 97,654,165 97,654,165 95,488,066 Net financial assets, end of year $ 36,772,969 $ 94,329,282 $ 97,654,165 The accompanying notes are an integral part of these financial statements 8
Consolidated Statement of Cash Flows For the year ended December 31, 2016 2016 2015 (Restated Note 12) Operating Annual surplus $ 16,648,691 $ 17,744,200 Capital Sources (uses) Taxes and grants-in-lieu (249,608) 3,810,404 Trade and other receivables (2,363,452) (467,571) Accounts payable and accrued liabilities (554,345) 678,299 Employee future benefits 2,766,566 2,564,694 Deferred revenue 1,763,131 17,495 Inventories of supplies 334,224 (305,608) Prepaid expenses (331,650) 134,358 Land held for resale (516,854) 1,496,010 Items not involving cash Amortization 20,357,745 16,784,868 Donated tangible capital assets (15,990,209) (12,542,520) (Gain) loss on sale of tangible capital assets (21,803) 52,409 Cash provided from operations 21,842,436 29,967,038 Acquisition of tangible capital assets (24,473,480) (19,917,409) Proceeds on disposal of tangible capital assets 151,599 215,801 Net investment in tangible capital assets (24,321,881) (19,701,608) Investing Net change in investments (1,100,941) (17,419,850) Financing Debt issued 7,250,000 9,550,000 Debt principal repayment (2,781,402) (2,014,588) Net increase in cash from financing activities 4,468,598 7,535,412 Net change in cash 888,212 380,992 Cash and cash equivalents, beginning of year 47,621,068 47,240,076 Cash and cash equivalents, end of year $ 48,509,280 $ 47,621,068 The accompanying notes are an integral part of these financial statements 9
Notes to the Consolidated Financial Statements For the year ended December 31, 2016 1. Municipal status The Corporation of the City of Cambridge ("the City") was created on January 1, 1973 when the three municipalities of Galt, Preston, and Hespeler and the settlement of Blair were amalgamated into a single legal entity under a new name. The City operates as a lower tier government in the Province of Ontario, Canada. Cambridge provides municipal services such as fire protection, public works, water distribution, urban planning, recreation and cultural services, and other general government services. The City owns 92.1% of its subsidiary, Cambridge and North Dumfries Energy Plus Inc. and its affiliates. 2. Summary of significant accounting policies The consolidated financial statements of the City are the representation of management, prepared in accordance with local government accounting standards established by the Public Sector Accounting Board (PSAB) of the Chartered Professional Accountants of Canada. The following is a summary of the significant accounting policies followed in the preparation of these financial statements: (a) Basis of consolidation (i) Consolidated entities These consolidated statements reflect the financial assets, liabilities, operating revenues and expenses, reserve funds and reserves, changes in investment in tangible capital assets and cash flows and include the activities of all governmental functions controlled and exercised by the City and the following boards which are under the control of Council: The Cambridge Public Library Board Preston Towne Centre Business Improvement Area Downtown Cambridge Business Improvement Area Hespeler Village Business Improvement Area All inter-organizational transactions and balances between these entities have been eliminated. (ii) Government Business Enterprises The Cambridge and North Dumfries Energy Plus Inc. and its affiliates are not consolidated but are accounted for on the modified equity basis which reflects the City's investment in the enterprises and its share of net income or loss less dividends received since acquisition. Under the modified equity basis, the enterprises' accounting principles are not adjusted to conform with those of the City and interorganizational transactions and balances are not eliminated. (iii) Accounting for Region and School Board transactions The taxation, other revenues, expenditures, assets and liabilities, with respect to the operations of the School Boards and the Regional Municipality of Waterloo, are not reflected in these consolidated financial statements. (iv) Trust funds Trust funds and their related operations administered by the City are not consolidated, but are reported separately on the Trust Funds Statement of Financial Position and Statement of Continuity (see Note 4). 10
Notes to the Consolidated Financial Statements For the year ended December 31, 2016 2. Summary of significant accounting policies - Continued (b) Basis of accounting The City follows the accrual method of accounting for revenues and expenses. Revenues are normally recognized in the year in which they are earned and measurable. Expenses are recognized as they are incurred and measurable as a result of receipt of goods or services and/or the legal obligation to pay. (c) Non-financial assets Non-financial assets are not normally available to discharge existing liabilities and are held for use in the provision of services. They have useful lives extending beyond the current year and are not intended for sale in the ordinary course of operations. The change in non-financial assets during the year, together with the excess revenues over expenses, provides the consolidated change in net financial assets for the year. (i) Tangible capital assets Tangible capital assets are recorded at cost which includes all amounts that are directly attributable to acquisition, construction, development or betterment of the asset. The cost of the tangible capital assets is amortized on a straight-line basis over their estimated useful lives as follows: Land Not Amortized Buildings 40 to 50 years Vehicles Specialty and fire trucks 9 to 20 years Vehicles 5 years Computer hardware and software 5 years Water and waste plants and networks Underground networks 40 to 80 years Transportation Roads 25 to 35 years Bridges and structures 30 to 50 years Other Machinery and equipment 5 to 15 years Land improvements 15 to 50 years Leasehold improvements 24 years The full amount of annual amortization is charged in year of disposal. Assets under construction are not amortized until the asset is available for productive use. (ii) Contributions of tangible capital assets (donated) Tangible capital assets received as contributions are recorded at their fair value at the date of receipt and also are recorded as revenue. (iii) Interest capitalization The City does not capitalize interest costs associated with the acquisition or construction of a tangible capital asset. 11
Notes to the Consolidated Financial Statements For the year ended December 31, 2016 2. Summary of significant accounting policies - Continued (c) Non-financial assets - Continued (iv) Works of art and cultural and historic assets These non-operational heritage assets are not recorded in these financial statements. (v) Leases Leases are classified as capital or operating leases. Leases which transfer substantially all of the benefits and risks incidental to ownership of property are accounted for as capital leases. All other leases are accounted for as operating leases and the related lease payments are charged to expenses as incurred. (vi) Inventories and prepaid expenses Inventories held for consumption are recorded at the lower of cost and replacement cost. Prepaid expenses relate to expenditures incurred in the current period which relate to and will be expensed in a future fiscal period. (d) Employee future benefits The contributions to a multi-employer, defined benefit plan are expensed when the contributions are due. The costs of post-employment benefits are recognized when the event that obligates the City occurs. Costs include projected future income payments, health care continuation costs, and fees paid to independent administrators of these plans, calculated on a present value basis. The costs of post-employment benefits are actuarially determined using the projected benefits method prorated on service and management's best estimate of retirement ages of employees, salary escalation, and expected health care costs. Any gains or losses from changes in assumptions or experience are amortized over the average remaining service period for active employees. (e) Cash and cash equivalents Cash and cash equivalents are comprised of accounts maintained at chartered financial institutions. (f) Investments Investments generally consist of high grade bonds, guaranteed investment certificates, and interest rate savings accounts, and are recorded at the lower of cost plus accrued interest and market value. Investment income is reported as revenue in the period earned. Investment income earned on obligatory reserve funds is considered deferred until the funds are applied. 12
Notes to the Consolidated Financial Statements For the year ended December 31, 2016 2. Summary of significant accounting policies - Continued (g) Revenue recognition Revenues are recognized in the period in which the transactions or events occurred that gave rise to the revenues. All revenues are recorded on an accrual basis, except when the accruals cannot be determined with a reasonable degree of certainty or when their estimation is impracticable. Government transfers are recognized as revenues when the transfer is authorized and any eligibility criteria are met, except to the extent that transfer stipulations give rise to an obligation that meets the definition of a liability. Transfers are recorded as deferred revenue when transfer stipulations give rise to a liability. Transfer revenue is recognized in the statement of operations as the stipulation liabilities are settled. Government transfers, contributions, and other amounts are received from third parties pursuant to legislation, regulation, or agreement and may only be used in the conduct of certain programs, in the completion of specific work, or the purchase of tangible capital assets. In addition, certain user charges and fees are collected for which the related services have yet to be performed. Revenue is recognized in the period when the related expenses are incurred, services performed, or the tangible assets are acquired. Tax revenue is recognized when it is authorized and in the period for which the tax is levied. (h) Land held for resale Land held for resale is recorded at the lower of cost and net realizable value. Cost includes amounts for land acquisition and improvements to prepare the land for sale or servicing. (i) Liability for contaminated sites Contaminated sites are a result of contamination being introduced into air, soil, water or sediment of a chemical, organic or radioactive material or live organism that exceeds an environmental standard. The liability is recorded net of any expected recoveries. A liability for remediation of contaminated sites is recognized when all the following criteria are met: i. an environmental standard exists; ii. iii. iv. contamination exceeds the environmental standard; the City: is directly responsible; or accepts responsibility; and a reasonable estimate of the amount can be made. (j) Use of estimates The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the year. These estimates and assumptions, including employee benefits payable, taxation assessment appeals, legal claims provisions, liability for contaminated sites, the valuation of tangible capital assets and their related useful lives and amortization, are based on management's best information and judgement and may differ significantly from future actual results. 13
Notes to the Consolidated Financial Statements For the year ended December 31, 2016 3. Operations of School Boards and the Region of Waterloo Further to note (2) (a) (iii), the taxation, other revenues, and requisitions of the School Boards and the Regional Municipality of Waterloo are comprised of the following: School Boards Region of Waterloo Taxation and user charges $ 65,650,107 $ 147,177,285 Share of payments in lieu of taxes 63,665 603,940 Amounts requisitioned $ 65,713,772 $ 147,781,225 4. Trust funds Trust funds administered by the City amounting to $10,578,199 ($10,136,413 in 2015), have not been included in the Consolidated Statement of Financial Position nor have their operations been included in the Consolidated Statement of Operations and Accumulated Surplus. 5. Taxes and accounts receivable Taxes receivable and accounts receivable are reported net of a valuation allowance of $6,705,529 ($6,705,529 in 2015) and $140,934 ($138,569 in 2015) respectively. 6. Investments Investments are comprised of the following: 2016 2015 Investment in Cambridge and North Dumfries Energy Plus Inc. Capital stock $ 37,792,000 $ 37,792,000 Increase in equity since acquisition 41,444,333 38,087,960 79,236,333 75,879,960 Marketable securities 70,376,910 72,632,342 Total investments $ 149,613,243 $ 148,512,302 Marketable securities have a market value of $69,970,628 ($71,989,072 in 2015). 14
Notes to the Consolidated Financial Statements For the year ended December 31, 2016 6. Investments - Continued On August 1, 2000, pursuant to requirements of the Ontario Government's Electricity Competition Act (Bill 35), the net assets of the Hydro Electric Commission of Cambridge and North Dumfries were transferred to Cambridge and North Dumfries Energy Plus Inc. ("Energy Plus") and affiliated companies. Energy Plus and affiliates will carry on the former business of the Commission with all its rights, duties, obligations and responsibilities from the date of transfer. The City of Cambridge owns 92.1% of Energy Plus and the change in the cost of the original investment by return of capital and its proportionate share of the consolidated operating gain of Energy Plus for the year ended December 31, 2016 is as follows (see note 2(a) (ii)): 2016 2015 Cost of investment, beginning of year $ 75,879,960 $ 72,755,614 Increase in equity for year: Share of net income for year 5,903,610 5,571,129 Dividends received during year (2,547,237) (2,446,783) Net increase for year 3,356,373 3,124,346 Cost of investment, end of year $ 79,236,333 $ 75,879,960 The following table provides condensed financial information in respect of Energy Plus for its fiscal 2016 year: 2016 (000's) 2015 (000's) Financial position Current assets $ 57,846 $ 61,411 Capital assets $ 152,640 142,790 Goodwill $ 18,965 18,965 Other assets $ 9,281 10,384 Total assets 238,732 233,550 Current liabilities $ 40,771 41,096 Long-term liabilities $ 100,542 96,712 Total liabilities 141,313 137,808 Net assets 97,419 95,742 Statement of operations Revenues 254,938 232,259 Operating expenses $ (243,204) (219,295) Non-operating expenses $ (3,436) (5,087) Payments in lieu of corporate income taxes $ (1,888) (1,828) Net income 6,410 6,049 City's share of net income - 92.1% $ 5,904 $ 5,571 15
Notes to the Consolidated Financial Statements For the year ended December 31, 2016 7. Employee and post employment benefits The City provides certain employee benefits which will require funding in future periods. An actuarial estimate of future liabilities has been completed and forms the basis for the estimated liability reported in these financial statements. All liabilities were estimated by an actuarial update as at December 31, 2016. 2016 2015 Change Post-retirement benefits $ 54,911,377 $ 52,549,077 $ 2,362,300 Sick leave benefits 6,101,176 5,858,036 243,140 Workplace safety & insurance benefits 2,390,979 2,229,853 161,126 $ 63,403,532 $ 60,636,966 $ 2,766,566 The significant actuarial assumptions adopted in measuring the City's accrued benefit obligations for the accumulated sick leave and post-retirement benefit entitlements at December 31, 2016, are as follows: Information about the City's benefit plan is as follows: Future cost of long term debt 4.25% Future inflation rates 1.75% Future salaries escalations 2.75% Future dental premium rates escalations 3.75% Future health care premium rates: 2016 5.75% Declining by 2024 to 3.75% 2016 2015 Accrued Liability Balance, beginning of the year $ 60,636,966 $ 58,072,272 Current service cost 1,892,216 1,615,130 Interest cost 2,958,365 2,860,648 Amortization of net actuarial loss 580,327 580,327 Benefit payments (2,664,342) (2,491,411) Balance, end of the year $ 63,403,532 $ 60,636,966 a) Pension Plan The City makes contributions to the Ontario Municipal Employees Retirement System ("OMERS"), which is a multi-employer plan, on behalf of members of its staff. The Plan is a defined benefit plan, which specifies the amount of retirement benefit to be received by the employees based on the lengths of service and rates of pay. Employee contributions are matched by the City. The amount contributed to OMERS for 2016 was $5,059,513 ($5,357,256 in 2015) for current service and is included as an expenditure on the consolidated statement of operations. The OMERS pension plan has a deficit. The last available report for the OMERS plan was on December 31, 2016. At that time the plan reported a $6.3 billion actuarial deficit (2015 - $7.5 billion), based on actuarial liabilities of $91.7 billion (2015 - $84.8 billion) and actuarial assets of $85.4 billion (2015 - $77.3 billion). If actuarial surpluses are not available to offset the existing deficit and subsidize future contributions, increases in contributions will be required in the future. 16
Notes to the Consolidated Financial Statements For the year ended December 31, 2016 7. Employee and post employment benefits - Continued b) Post-retirement benefits The City makes available to qualifying employees who retire before the age of 65, the opportunity to continue their coverage for such benefits as extended health and drugs, dental care, and life insurance. Coverage ceases at the age of 65 except for life insurance and extended health and drugs. In addition, adjustments arising from the plan amendment, changes in assumptions, and experience gains and losses are amortized on a straight-line basis over 11 years, which represents the expected average remaining service life of the employee group. Amortization is calculated beginning in the year following the year of occurrence of the actuarial gains or losses. In fiscal 2016, an actuarial valuation report estimated the actuarial gain for the above mentioned post-retirement benefits to be $3,880,208 which is being amortized at $352,746 per year. The actuarial valuation report estimated the liability for the above mentioned employee future benefits to be $54,911,377 ($52,549,077 in 2015) at year end based on present value of the current obligation for past and current employees. c) Sick leave Under the sick leave benefit plan, unused sick leave can accumulate and certain employees may become entitled to a cash payment when they leave the City's employment. In addition, adjustments arising from the plan amendment, changes in assumptions, and experience gains and losses are amortized on a straight-line basis over 12 years, which represents the expected average remaining service life of the employee group. Amortization is calculated beginning in the year following the year of occurrence of the actuarial gains or losses. In fiscal 2016, an actuarial valuation report estimated the actuarial loss for the above mentioned sick leave to be $1,311,707 which is being amortized at $109,309 per year. The liability for these accumulated days based on an actuarial assessment, to the extent that they have vested and could be taken in cash by an employee on termination or retirement, amounted to $6,101,176 ($5,858,036 in 2015) at the end of the year. An amount of $581,696 ($342,376 in 2015) was paid to employees who either changed union groups or left the City's employment during the current year. The reserve fund was established to fund the cost of future employee benefits provided by the City. The balance at the end of the year was $10,121,707 ($9,677,873 in 2015). During the year the City conducted an internal review of the City's employee sick leave obligation. As a result of this review the City estimated the obligation to be approximately $7,502,676 ($7,784,970 in 2015). d) Workplace safety & insurance In 1996, in order to decrease workers' compensation expense, the City assumed the risk of workers' compensation coverage. The potential liability, based on an actuarial valuation update for all existing claims as at December 31, 2016 amounted to $2,390,979 ($2,229,853 in 2015). A self-insurance Reserve Fund for Workers' Compensation was established which, at December 31, 2016, amounted to $2,417,133 ($2,301,796 in 2015). Premiums which otherwise could be paid to Workplace Safety & Insurance Board are paid into the fund and workers' compensation claims are charged to the fund. 17
Notes to the Consolidated Financial Statements For the year ended December 31, 2016 8. Deferred revenue A requirement of the Public Sector Accounting Board, of the Chartered Professional Accountants of Canada, is that obligatory reserves be reported as deferred revenue. This requirement is in place as provincial legislation restricts how these funds may be used and under certain circumstances these funds may be refunded. Deferred revenue balances are as follows: 2016 2015 Revenue Development charges and user fees $ 5,578,320 $ 5,417,449 Gas tax funding 3,853,543 3,670,041 Investment income 44,331 95,506 9,476,194 9,182,996 Deferred revenue recognized (7,713,063) (9,165,501) Change in deferred revenue 1,763,131 17,495 Deferred revenue, beginning of year 28,583,426 28,565,931 Deferred revenue, end of year 30,346,557 28,583,426 Represented as follows: Development charges 26,541,812 23,348,978 Recreational land (1,090,779) (1,012,045) Building permits 1,254,632 414,833 Gas tax funding 3,640,892 5,831,660 $ 30,346,557 $ 28,583,426 9. Long-term debt The City has assumed the responsibility for the payment of principal and interest charges on certain debt issued by the Region of Waterloo, which in fiscal 2016 amounted to $7,250,000. The City has assumed responsibility for the payment of principal and interest charges on certain long-term debt issued by the Region of Waterloo. At the end of the year, the total outstanding principal amount of this liability is $26,178,753 ($21,710,155 in 2015). This debt bears interest at rates ranging from 1.15% to 3.95% per annum. Principal repayments required over the next 5 years and thereafter are as follows: 2017 - $ 3,521,991 2018-3,596,939 2019-3,678,468 2020-3,766,355 2021-2,578,000 Thereafter - 9,037,000 $ 26,178,753 Interest charges for fiscal 2016 relating to long-term debt were $591,671 ($429,798 in 2015). The City has enacted and passed by-laws in 2016 authorizing the issue of debentures, not to exceed $30.1 million, for the rehabilitation of existing assets and construction or purchase of new assets contained in the Capital Funding Program. 18
Notes to the Consolidated Financial Statements For the year ended December 31, 2016 10. Tangible capital assets 2016 Land Land Buildings Leasehold Infrastructure Information Machinery & Vehicles Total improvements improvements technology equipment Cost Balance, beginning of year $ 89,638,236 $ 70,868,465 $ 152,927,155 $ 4,438,819 $ 387,546,297 $ 4,914,102 $ 7,019,268 $ 18,143,394 $ 735,495,736 Additions 416,608 12,405,807 936,305-46,268,620 187,863 503,199 1,013,011 61,731,413 Disposals - 142,378 - - 537,203 - - 620,393 1,299,974 Cost, end of year 90,054,844 83,131,894 153,863,460 4,438,819 433,277,714 5,101,965 7,522,467 18,536,012 795,927,175 Accumulated amortization Balance, beginning of year - 33,733,227 61,685,166 571,683 177,783,661 4,332,208 3,754,943 9,912,173 291,773,061 Disposals - 103,462 - - 446,323 - - 620,393 1,170,178 Amortization expense - 2,671,059 3,552,772 145,492 11,845,333 397,270 539,134 1,206,685 20,357,745 Accumulated amortization, end of year - 36,300,824 65,237,938 717,175 189,182,671 4,729,478 4,294,077 10,498,465 310,960,628 Assets under construction - - - - - - - - 75,703,985 Net book value, end of year $ 90,054,844 $ 46,831,070 $ 88,625,522 $ 3,721,644 $ 244,095,043 $ 372,487 $ 3,228,390 $ 8,037,547 $ 560,670,532 2015 Land Land Buildings Leasehold Infrastructure Information Machinery & Vehicles Total (Restated Note 12) improvements improvements technology equipment Cost Balance, beginning of year $ 89,867,580 $ 68,767,814 $ 150,565,396 $ 4,118,819 $ 350,733,964 $ 4,232,062 $ 6,163,679 $ 16,288,057 $ 690,737,371 Additions 102,854 2,100,651 2,361,759 320,000 37,552,350 1,182,040 1,160,718 2,120,237 46,900,609 Disposals 332,198 - - - 740,017 500,000 305,129 264,900 2,142,244 Cost, end of year 89,638,236 70,868,465 152,927,155 4,438,819 387,546,297 4,914,102 7,019,268 18,143,394 735,495,736 Accumulated amortization Balance, beginning of year - 31,997,169 58,178,066 423,524 169,601,775 4,010,019 3,505,069 9,048,197 276,763,819 Disposals - - - - 705,591 500,000 305,130 264,905 1,775,626 Amortization expense - 1,736,058 3,507,100 148,159 8,887,477 822,189 555,004 1,128,881 16,784,868 Accumulated amortization, end of year - 33,733,227 61,685,166 571,683 177,783,661 4,332,208 3,754,943 9,912,173 291,773,061 Assets under construction - - - - - - - - 96,971,709 Net book value, end of year $ 89,638,236 $ 37,135,238 $ 91,241,989 $ 3,867,136 $ 209,762,636 $ 581,894 $ 3,264,325 $ 8,231,221 $ 540,694,384 (a) During the year, roads and underground networks contributed to the City totalled $15,990,209 ($12,542,520 in 2015) and were capitalized at their fair value at the time of receipt. (b) Amortization expense for the year amounts to $20,357,745 ($16,784,868 in 2015). 19
Notes to the Consolidated Financial Statements For the year ended December 31, 2016 11. General insurance coverage In order to decrease insurance premiums, the City has undertaken a portion of the risk by taking deductibles. The deductibles generally range up to $50,000 depending on the types of claims. Insurance coverage is in place for claims in excess of these deductibles up to various policy limits. The City has made provision for a Reserve for Self-Insurance for various types of insurance, the balance of which at December 31, 2016 amounted to $2,265,718 ($2,199,878 in 2015), and is reported in Note 15 under Reserves. The City budgets annually for claims related to self-insurance and the difference between budgeted and actual claims during the year is drawn from the reserve fund. In 2016 the amount drawn from the reserve was $Nil ($Nil in 2015). Claims for all forms of self-insurance during the year amounting to $404,288 ($166,518 in 2015), including adjusters' fees and costs, are reported as an expenditure on the Consolidated Statement of Operations and Accumulated Surplus. The City has an agreement with members of the Waterloo Region municipalities to purchase property damage and public liability insurance on a group basis and share a retained level of risk. The members pay an annual levy to fund insurance coverage, losses, and contribute to a surplus. The pool has purchased insurance to fund losses above a pre-determined deductible and any losses above a pre-determined total in any year. 12. Restatement of prior year's accumulated surplus During 2016, management identified certain assets that were not previously recorded resulting in additions to the net book value of tangible capital assets in the amount of $5,104,750. The impact of these adjustments at January 1, 2015 is as follows: Accumulated surplus as at January 1, 2015 Accumulated surplus, previously stated $ 617,251,925 Tangible capital asset adjustment 5,104,750 Accumulated surplus, restated $ 622,356,675 13. Contingent liabilities The City is involved in several legal suits of varying dollar amounts, the outcome of which is not presently determinable. No provision for possible liability has been recorded in these financial statements. In the event the City is found liable, any amounts not recoverable from City's insurers will be adjusted against future revenues. 20
Notes to the Consolidated Financial Statements For the year ended December 31, 2016 14. Other explanatory notes (a) Expenses by object The total expenditures on the Consolidated Statement of Operations and Accumulated Surplus are summarized by object as follows: 2016 2015 Salaries, wages, and employee benefits $ 72,784,183 $ 70,992,112 Materials and services 62,912,838 42,689,992 Grants to outside groups 2,251,805 2,001,562 Amortization 20,357,745 16,784,868 Rent, contracted services and other 18,621,151 34,132,358 Interest on long-term debt 591,671 429,798 $ 177,519,393 $ 167,030,690 (b) Budget figures, unaudited Budget figures reported on the Consolidated Statement of Operations and Accumulated Surplus are based on the 2016 municipal operating and water/wastewater budgets as approved by Council on January 5, 2016 and December 15, 2015 respectively, and include subsequent amendments. Approved budget figures have been reclassified and adjusted for the purposes of these financial statements to comply with Public Sector Accounting Board ("PSAB") reporting requirements. The chart below reconciles the approved operating budgets to the amended budget figures: Budget Amount Approved operating budget revenues $ 179,953,300 Budget amendments and reallocations PSAB reporting adjustments: Reallocate net revenues to expense (11,722,700) Dividends from Cambridge and North Dumfires Energy Plus Inc. (1,950,000) Provincial Offences Act adjustment 500,000 Land sales and other 1,363,832 Capital contributions from others 1,847,918 Contributions from reserves and reserve funds (5,726,300) Net operating budget revenues $ 164,266,050 Approved operating budget expenses $ 179,953,300 Budget amendments and reallocations PSAB reporting adjustments: Reallocate net revenues to expense (11,722,700) Amortizaion of tangible capital assets 20,357,745 Non-tangible capital asset expenditures 14,314,705 Contribution to others from reserves 167,143 Provincial Offences Act adjustment 500,000 Unfunded accrual for employee future benefit obligation 2,766,566 Contribution to reserves and reserve funds (21,969,100) Consolidated external agencies 64,787 Debt principal repayments (2,781,400) Net operating budget expenses 181,651,046 Net expenses before other income (17,384,996) 21
Notes to the Consolidated Financial Statements For the year ended December 31, 2016 15. Accumulated surplus Accumulated surplus consists of individual surpluses and reserves as follows: 2016 2015 (Restated Note 12) Reserves Tax rates stabilization $ 2,988,205 $ 2,928,022 Training and development 1,256,856 1,255,082 Contaminated sites grant program 559,980 509,980 Building revitalization program 353,381 350,031 Transportation services 6,569,804 5,107,435 Environmental services 19,654,403 14,046,114 Planning and development 10,771,990 11,495,150 Infrastructure renewal 1,641,262 1,593,498 Health services 544,813 296,621 Replacement of equipment 4,867,384 4,780,729 Future employee benefits 10,121,707 9,677,873 Insurance 2,265,718 2,199,878 Workplace safety and insurance 2,417,133 2,301,796 Parking fund 24,080 23,587 General government 1,992,317 1,385,300 Winter maintenance 178,029 361,299 Recreation and cultural services 1,047,529 979,503 Other 3,198,680 4,010,379 Total reserves 70,453,271 63,302,277 Surpluses Invested in tangible capital assets 560,670,532 540,694,384 Invested in repair and replacement of assets 21,743,958 29,015,787 Invested in Government Business Enterprise 79,236,333 75,879,960 General revenue fund 209,288 60,184 Library board 4,083 6,789 Business improvements areas 73,704 64,787 Land held for resale 13,940,682 13,423,828 Amounts to be recovered Employee and post-employment benefits (63,403,532) (60,636,966) Long-term debt (26,178,753) (21,710,155) Total surplus 586,296,295 576,798,598 Accumulated surplus $ 656,749,566 $ 640,100,875 22
Notes to the Consolidated Financial Statements For the year ended December 31, 2016 16. Comparative Figures Certain of the prior year's comparative figures have been restated to conform to the current year's presentation. 17. Segmented information The City of Cambridge is a diversified municipal government institution that provides a wide range of services to its citizens, including fire, road, water distribution, sewer collection/conveyance, storm sewer, libraries, and community services. Segmented information has been prepared by major functional classification of activities provided, consistent with the Consolidated Statement of Operations and Accumulated Surplus and provincially legislated requirements. For each reported segment, revenues and expenses represent both amounts that are directly attributable to the segment and amounts that are allocated on a reasonable basis. The accounting policies used in these segments are consistent with those followed in the preparation of the consolidated financial statements as disclosed in Note 1. 23
Notes to the Consolidated Financial Statements For the year ended December 31, 2016 17. Segmented information - Continued For the year ended December 31, 2016 General Government Protection Services Transportation Services Environmental Services Health Services Social and Family Services Recreation and Cultural Services Planning and Development Revenue Taxation $ 20,451,340 $ 20,594,610 $ 12,611,422 $ 921,729 $ 406,445 $ 1,237,562 $ 20,400,920 $ 2,604,181 $ 79,228,209 User fees and charges 2,142,191 3,779,736 1,858,935 59,566,150 848,271 447,200 4,838,728 698,846 74,180,057 Penalties and interest on taxes 2,957,433 - - - - - - - 2,957,433 Investment income 868,792 - - - 13,725 - - - 882,517 Fines - 9,623 954,383 - - - 116,481-1,080,487 Government transfers - Canada - - - - - - 72,000-72,000 Government transfers - Ontario 262,900 - - - - 949,948 244,301-1,457,149 Deferred revenue earned 32,000-143,700 - - - 15,000-190,700 Land sales and other 29,527 1,543,816 25,978 286,400 319,688-51,267 1,192,988 3,449,664 Total revenue 26,744,183 25,927,785 15,594,418 60,774,279 1,588,129 2,634,710 25,738,697 4,496,015 163,498,216 Operating expenses Salaries wages and employee benefits 17,321,197 21,823,591 8,263,858 5,368,518 962,718 1,709,693 15,086,148 2,248,460 72,784,183 Long term debt charges - - 111,181 183,508 - - 296,982-591,671 Materials 11,321,255 2,561,088 8,975,542 27,849,434 200,015 492,880 9,742,656 1,769,968 62,912,838 Contracted services 422,034 261,509 1,468,141 15,441,993-8,035 732,181 22,679 18,356,572 Rents and financial expenses 79,207 132,278 11,133 19,461 - - - 22,500 264,579 External transfers 500,000 - - - - 296,900 1,454,905-2,251,805 Amortization of tangible capital assets 804,314 455,930 6,346,113 9,278,563 79,248-3,393,577-20,357,745 Interfunctional adjustments (5,515,788) 217,852 (877,841) 5,573,392 121,962-480,240 183 - Total expenses 24,932,219 25,452,248 24,298,127 63,714,869 1,363,943 2,507,508 31,186,689 4,063,790 177,519,393 Net income (expenses) before other income $ 1,811,964 $ 475,537 $ (8,703,709) $ (2,940,590) $ 224,186 $ 127,202 $ (5,447,992) $ 432,225 $ (14,021,177) Total 24
Notes to the Consolidated Financial Statements For the year ended December 31, 2016 17. Segmented information - Continued For the year ended December 31, 2015 (Restated Note 12) General Government Protection Services Transportation Services Environmental Services Health Services Social and Family Services Recreation and Cultural Services Planning and Development Revenue Taxation $ 20,900,354 $ 19,660,000 $ 12,039,100 $ 879,900 $ 388,000 $ 1,181,400 $ 19,475,100 $ 2,733,803 $ 77,257,657 User fees and charges 2,065,375 2,834,693 1,837,638 55,611,936 865,484 478,346 4,629,636 586,655 68,909,763 Penalties and interest on taxes 3,090,288 - - - - - - - 3,090,288 Investment income 876,991 - - - 14,586 - - - 891,577 Fines - 5,446 1,025,248 - - - 123,104-1,153,798 Government transfers - Canada - - - - - - 72,000-72,000 Government transfers - Ontario 301,600 - - - - 945,545 251,996-1,499,141 Deferred revenue earned 38,500 732,369 143,879 - - - 15,000-929,748 Land sales and other 271,778 7,399 99,249 926,224 349,693-422,925 1,336,758 3,414,026 Total revenue 27,544,886 23,239,907 15,145,114 57,418,060 1,617,763 2,605,291 24,989,761 4,657,216 157,217,998 Operating expenses Salaries wages and employee benefits 15,864,119 22,374,150 8,274,066 5,088,433 910,665 1,731,236 14,577,553 2,171,890 70,992,112 Long term debt charges - - 111,181 82,606 - - 236,011-429,798 Materials 9,694,052 1,732,254 8,243,886 9,712,651 225,787 525,901 11,033,467 1,521,994 42,689,992 Contracted services 347,621 201,646 703,134 31,854,251-5,947 764,990 20,018 33,897,607 Rents and financial expenses 62,126 132,278-18,547 - - - 21,800 234,751 External transfers 500,000 - - - - 293,900 1,207,662-2,001,562 Amortization of tangible capital assets 1,305,359 500,813 5,699,289 5,775,406 85,667-3,418,334-16,784,868 Interfunctional adjustments (5,374,910) 215,814 (422,359) 4,953,222 122,962-505,271 - - Total expenses 22,398,367 25,156,955 22,609,197 57,485,116 1,345,081 2,556,984 31,743,288 3,735,702 167,030,690 Net income (expenses) before other income $ 5,146,519 $ (1,917,048) $ (7,464,083) $ (67,056) $ 272,682 $ 48,307 $ (6,753,527) $ 921,514 $ (9,812,692) Total 25
Trust Funds Financial Statements Year Ended December 31, 2016 26
INDEPENDENT AUDITORS' REPORT To the Members of Council, Inhabitants and Ratepayers of The Corporation of the City of Cambridge We have audited the accompanying financial statements of the Trust Funds of The Corporation of the City of Cambridge, which comprise the statement of financial position as at December 31, 2016, and the statement of continuity for the year then ended, and a summary of significant accounting policies and other explanatory information. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with Canadian public sector accounting standards, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors Responsibility 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 comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on our judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements present fairly, in all material respects, the financial position of the Trust Funds of The Corporation of the City of Cambridge as at December 31, 2016, and the continuity of Trust Funds for the year then ended in accordance with Canadian public sector accounting standards. Cambridge, Ontario May 16, 2017 Chartered Professional Accountants, authorized to practise public accounting by the Chartered Professional Accountants of Ontario 27
Trust Funds Financial Position As at December 31, 2016 2016 2015 Assets Liabilities Cash and term deposits $ 4,680,599 $ 1,055,781 Receivable from Revenue Fund 601,662-5,282,261 1,055,781 Investments (Note 2) Provincial 140,426 134,943 Municipal 81,632 255,070 Other 5,073,880 8,690,925 5,295,938 9,080,938 10,578,199 10,136,719 Payable to Revenue Fund - 306 Fund balances 10,578,199 10,136,413 $ 10,578,199 $ 10,136,719 The explanatory financial notes form an integral part of these financial statements 28
Trust Funds Statement of Continuity For the year ended December 31, 2016 Cemetery Care and Maintenance Fund Cemetery Care and Maintenance Monuments Cemetery Charges Prepaid Election Surplus Balance at the beginning of the year $ 5,198,740 $ 512,576 $ 2,912,791 $ 3,858 Receipts Sale of land 289,539 123,197 Contributions received 18,100 Interest earned 139,813 13,724 77,273 102 429,352 31,824 200,470 102 Expenditures Contributions to Revenue Fund 139,814 13,725 115,213 Transfer to other 139,814 13,725 115,213 Balance at the end of the year $ 5,488,278 $ 530,675 $ 2,998,048 $ 3,960 The explanatory financial notes form an integral part of these financial statements 29
Trust Funds Statement of Continuity For the year ended December 31, 2016 Archives Trust Arthur White Arthur White Bernice Adams Fund Scholarship Fund Sports Bursary Memorial Fund Balance at the beginning of the year $ 27,158 $ 15,084 $ 82,776 $ 62,293 Receipts Sale of land Contributions received 3,060 Interest earned 721 396 2,189 1,638 721 396 2,189 4,698 Expenditures Contributions to Revenue Fund Transfer to other 400 440 2,400 400 440 2,400 Balance at the end of the year $ 27,879 $ 15,080 $ 84,525 $ 64,591 The explanatory financial notes form an integral part of these financial statements 30
Trust Funds Statement of Continuity For the year ended December 31, 2016 C.I.T.C. Training Cambridge C.I.T.C. Mayors Award Heritage River Trail Library Donation Trust Balance at the beginning of the year $ 15,570 $ 5,049 $ 66,824 $ 492,807 Receipts Sale of land Contributions received 9,729 Interest earned 413 134 1,772 13,080 413 134 1,772 22,809 Expenditures Contributions to Revenue Fund 15,754 Transfer to other 15,754 Balance at the end of the year $ 15,983 $ 5,183 $ 68,596 $ 499,862 The explanatory financial notes form an integral part of these financial statements 31
Trust Funds Statement of Continuity For the year ended December 31, 2016 Library Art Natural Heritage Trans Canada Scott Thompson Acquisition Trust Fund Trail Pavilion Athletic Fund Balance at the beginning of the year $ 331,179 $ 19,085 $ 10,572 $ 36,240 Receipts Sale of land Contributions received 25,270 Interest earned 8,377 507 280 949 33,647 507 280 949 Expenditures Contributions to Revenue Fund Transfer to other 37,573 1,058 37,573 1,058 Balance at the end of the year $ 327,253 $ 19,592 $ 10,852 $ 36,131 The explanatory financial notes form an integral part of these financial statements 32
Trust Funds Statement of Continuity For the year ended December 31, 2016 School of Architecture Ancient Mariners Allan Reuter Prepaid Rent Bursary Canoe Club Fund Centre Renovation Balance at the beginning of the year $ 9,182 $ 49,151 $ 15,442 $ 17,630 Receipts Sale of land Contributions received 8,761 10,000 Interest earned 244 1,303 518 695 244 1,303 9,279 10,695 Expenditures Contributions to Revenue Fund Transfer to other 2,568 2,568 Balance at the end of the year $ 9,426 $ 50,454 $ 24,721 $ 25,757 The explanatory financial notes form an integral part of these financial statements 33
Trust Funds Statement of Continuity For the year ended December 31, 2016 Fiddlesticks Bill Struck Neighbourhood Cambridge Lions Can-Amera Memorial Fund Association Rowing Club Sports Bursary Balance at the beginning of the year $ 5,586 $ 93,382 $ 1,356 $ 75,185 Receipts Sale of land Contributions received Interest earned 146 2,475 37 1,974 146 2,475 37 1,974 Expenditures Contributions to Revenue Fund Transfer to other 161 2,196 161 2,196 Balance at the end of the year $ 5,571 $ 95,857 $ 1,393 $ 74,963 The explanatory financial notes form an integral part of these financial statements 34
Trust Funds Statement of Continuity For the year ended December 31, 2016 David Durward Centre G.E. (Ted) Wake Lounge Seniors Fund Horticulture Fund Arts Guild Improvement Balance at the beginning of the year $ 32,512 $ 2,720 $ 12,281 $ 20,416 Receipts Sale of land Contributions received 8,000 11,000 Interest earned 995 71 326 611 8,995 71 326 11,611 Expenditures Contributions to Revenue Fund Transfer to other 4,088 1,000 4,088 1,000 Balance at the end of the year $ 37,419 $ 2,791 $ 12,607 $ 31,027 The explanatory financial notes form an integral part of these financial statements 35
Trust Funds Statement of Continuity For the year ended December 31, 2016 Arts Connect Cambridge Arts Guild Total Balance at the beginning of the year 8,968 $ 10,136,413 Receipts Sale of land 412,736 Contributions received 25,000 118,920 Interest earned 238 250 271,251 238 25,250 802,907 Expenditures Contributions to Revenue Fund 284,506 Transfer to other 24,731 76,615 24,731 361,121 Balance at the end of the year 9,206 519 $ 10,578,199 The explanatory financial notes form an integral part of these financial statements 36
Notes to the Trust Funds Financial Statements For the year ended December 31, 2016 1. Accounting Policies The financial statements of the Trust Funds of the Corporation of the City of Cambridge are the representation of management prepared in accordance with Canadian generally accepted accounting principles as recommended by the Public Sector Accounting Board of the Chartered Professional Accountants of Canada. (a) Basis of Accounting Capital receipts and income are reported on the cash basis of accounting. Expenditures are reported on the cash basis of accounting with the exception of administrative expenses, which are reported on the accrual basis of accounting, which recognizes expenditures, as they are incurred and measurable as a result of the receipt of goods or services and the creation of a legal obligation to pay. The Trust Funds have acquired no 'tangible capital assets' as defined by Section 3150 of the Chartered Professional Accountants of Canada Public Sector Accounting Handbook. (b) Use of Estimates The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the year. These estimates and assumptions are based on management's best information and judgment and may differ significantly from future actual results. 2. Investments Investments, comprised of municipal and provincial bonds and bank term deposits with varying maturity dates, bear interest at rates ranging from 1.03% to 7.0%, are reported at cost amounting to $5,295,938 ($9,080,938 in 2015), and have a market value of $5,327,331 ($9,143,394 in 2015). 37
2016 Financial Information Return 38
6Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:35 2016-V1.03 2016 FINANCIAL INFORMATION RETURN Municipality: Cambridge C MSO Office: Western Ontario Tier: Lower-Tier Asmt Code: 3006 Area: Waterloo R MAH Code: 25101 DECLARATION OF THE MUNICIPAL TREASURER Pursuant to the information required by the Province of Ontario under the Municipal Affairs Act, the following schedules are attached: Submitting: FIR Schedules Only Version: 2016-V1.03 Schedule Title Completion 10 CONSOLIDATED STATEMENT OF OPERATIONS: REVENUE 12 GRANTS, USER FEES AND SERVICE CHARGES 20 TAXATION INFORMATION 22 MUNICIPAL AND SCHOOL BOARD TAXATION 24 PAYMENTS-IN-LIEU OF TAXATION 26 TAXATION AND PAYMENTS-IN-LIEU SUMMARY 28 UPPER-TIER ENTITLEMENTS UPPER-TIER ONLY 40 CONSOLIDATED STATEMENT OF OPERATIONS: EXPENSES 42 ADDITIONAL INFORMATION 51 SCHEDULE OF TANGIBLE CAPITAL ASSETS 53 CONSOLIDATED STATEMENT OF CHANGE IN NET FINANCIAL ASSETS (NET DEBT) AND TANGIBLE CAPITAL ASSET ACQUISITION FINANCING/DONATIONS 54 CONSOLIDATED STATEMENT OF CASH FLOW (SELECT DIRECT OR INDIRECT METHOD) 60 CONTINUITY OF RESERVES AND RESERVE FUNDS 61 DEVELOPMENT CHARGES RESERVE FUNDS 62 DEVELOPMENT CHARGES RATES (INCLUDING SPECIAL AREAS) 70 CONSOLIDATED STATEMENT OF FINANCIAL POSITION 72 CONTINUITY OF TAXES RECEIVABLE SINGLE/LOWER-TIER ONLY 74 LONG TERM LIABILITIES AND COMMITMENTS 76 GOVERNMENT BUSINESS ENTERPRISES (GBE) 77 OTHER ENTITIES (DSSAB, HEALTH UNIT, OTHER AND TOTAL ALL) 79 COMMUNITY IMPROVEMENT PLANS 80 STATISTICAL INFORMATION 81 ANNUAL DEBT REPAYMENT LIMIT 83 NOTES For the purposes of this Financial Information Return, the amounts disclosed on the attached schedules are in agreement with the books and records of the municipality and its consolidated entities. This Financial Information Return has been prepared in accordance with the Financial Information Return instructions. Questions regarding the information contained in the Schedules should be addressed to: 0020 Name...................................................................... Mirna Raponi 0022 Telephone.................................................................... 519-740-4685 x 4449 0024 Fax....................................................................... 519-623-6364 0028 Email (Required)................................................................ raponim@cambridge.ca 0030 Website address of Municipality........................................................ www.cambridge.ca 0091 Municipal Auditor................................................................ Peter Graham & Mike Arndt 0092 Municipal Audit Firm.............................................................. Graham Matthew Professional Corporation 0095 Municipal Auditor's Email (Required)..................................................... marndt@gmpca.com 0090 Municipal Treasurer............................................................... Steven Fairweather 0093 Municipal Treasurer's Email (Required).................................................... fairweathers@cambridge.ca 0094 Date....................................................................... 5/9/2017 Signature of Municipal Treasurer Signature May 17, 2017 Date 0070 Outstanding In-Year Critical Errors................................................................ 0 0075 Schedule 54: Cashflow - Direct or Indirect Method Chosen............................................................................... INDIRECT 0077 Method used to allocate Program Support to other functions in Schedule 40........................................................................ Percentage of Total Expenditures 0078 If "Other Method" is selected in line 0077, please describe method of allocating Program Support............................. Municipal Data 1 Data Source 2 Municipal Data (#) (List) 0040 Households..................................................................................... 49,400 Municipal 0041 Population...................................................................................... 133,900 Municipal 0042 Youth Population.................................................................................. 10,395 Stats Can 39
CProvince of Ontario - Ministry of Municipal Affairs 09.05.2017 16:21 2016-V1.03 FIR2016: Cambridge C Schedule 10 Asmt Code: 3006 CONSOLIDATED STATEMENT OF OPERATIONS: REVENUE MAH Code: 25101 for the year ended December 31, 2016 STATEMENT OF OPERATIONS: REVENUE Own Purposes Revenue 1 Property Taxation $ 0299 Taxation - Own Purposes (SLC 26 9199 04-72 2899 07) For UT (SLC 28 0299 12-28 0299 08)......................... 78,785,966 0499 Payments-In-Lieu of Taxation (SLC 26 9599 08) For UT (SLC 28 0299 08)..................................... 442,243 9940 Subtotal 79,228,209 0510 Estimated tax revenue.................................................................. 0620 Ontario Municipal Partnership Fund (OMPF)....................................................... 256,400 0695 Other...................................................... 0696 Other...................................................... 0697 Other...................................................... 0698 Other...................................................... 0699 Subtotal 256,400 Conditional Grants 0810 Ontario conditional grants (SLC 12 9910 01)..................................................... 1,200,749 0815 Ontario Grants for Tangible Capital Assets (SLC 12 9910 05)............................................ 0 0820 Canada conditional grants (SLC 12 9910 02)..................................................... 72,000 0825 Canada Grants for Tangible Capital Assets (SLC 12 9910 06)............................................ 43,557 0830 Deferred revenue earned (Provincial Gas Tax) (SLC 60 1042 01 + SLC 60 1045 01)................................. 0 0831 Deferred revenue earned (Canada Gas Tax) (SLC 60 1047 01)............................................ 6,083,795 0899 Subtotal 7,400,101 1098 Revenue from other municipalities for Tangible Capital Assets (SLC 12 9910 07).................................. 0 1099 Revenue from other municipalities (SLC 12 9910 03)................................................ 2,850,311 1299 Total User Fees and Service Charges (SLC 12 9910 04)............................................... 68,804,855 Licences, permits, rents, etc. 1410 Trailer revenue and permits.............................................................. 55,075 1420 Licences and permits................................................................. 3,424,202 1430 Rents, concessions and franchises.......................................................... 166,310 1431 Royalties........................................................................ 1432 Green Energy..................................................................... 1498 Other...................................................... 1499 Subtotal 3,645,587 Fines and penalties 1605 Provincial Offences Act (POA) Municipality which administers POA only...................................... 1610 Other fines....................................................................... 126,103 1620 Penalties and interest on taxes............................................................ 2,957,433 1698 Other...................................................... 1699 Subtotal 3,083,536 Other revenue 1805 Investment income................................................................... 882,517 1806 Interest earned on reserves and reserve funds..................................................... 1,210,129 1811 Gain/Loss on sale of land & capital assets....................................................... 21,803 1812 Deferred revenue earned (Development Charges) (SLC 60 1025 01 + SLC 60 1026 01)............................... 1,569,196 1813 Deferred revenue earned (Recreational land (The Planning Act)) (SLC 60 1032 01 + SLC 60 1035 01)....................... 60,072 1814 Other Deferred revenue earned.................................... 1830 Donations........................................................................ 1831 Donated Tangible Capital Assets (SLC 53 0610 01).................................................. 15,990,209 1840 Sale of publications, equipment, etc........................................................... 1,413,633 1850 Contributions from non-consolidated entities..................................................... 1,847,918 1865 Other Revenues from Government Business Enterprise (ie. Dividends, etc.).................................... 2,547,237 1870 Gaming and Casino Revenues............................................................ 1890 Other...................................................... 1891 Other...................................................... 1892 Other...................................................... 1893 Other...................................................... 1894 Other...................................................... 1895 Other...................................................... 1896 Other...................................................... 1897 Other...................................................... 1898 Other...................................................... 1899 Subtotal 25,542,714 1880 Municipal Land Transfer Tax (City of Toronto Act, 2006)............................................... 1905 Increase/Decrease in Government Business Enterprise equity............................................ 3,356,371 9910 TOTAL Revenues 194,168,084 40
CProvince of Ontario - Ministry of Municipal Affairs 09.05.2017 16:21 2016-V1.03 FIR2016: Cambridge C Schedule 10 Asmt Code: 3006 CONSOLIDATED STATEMENT OF OPERATIONS: REVENUE MAH Code: 25101 for the year ended December 31, 2016 Continuity of Accumulated Surplus/(Deficit) 1 $ 2010 PLUS: Total Revenues (SLC 10 9910 01)........................................................ 194,168,084 2020 LESS: Total Expenses (SLC 40 9910 11)........................................................ 177,519,393 2030 PLUS:....................................................... 2040 PLUS:....................................................... 2045 PLUS: PSAB Adjustments................................................................ 2099 Annual Surplus/(Deficit).................................................................. 16,648,691 2060 Accumulated surplus/(deficit) at the beginning of year.................................................. 635,157,550 2061 Prior period adjustments................................................................. 4,943,325 2062 Restated accumulated surplus/(deficit) at the beginning of year............................................. 640,100,875 9950 Accumulated surplus/(deficit) at the end of year (SLC 10 2099 01 + SLC 10 2062 01).................................. 656,749,566 Continuity of Government Business Enterprise Equity 6010 Government Business Enterprise Equity, beginning of year............................................... 75,879,960 6020 PLUS: Net Income for Government Business Enterprise for year.......................................... 3,356,373 6060 PLUS:...................................................... 6090 Government Business Enterprise Equity, end of year.................................................. 79,236,333 1 $ Total of line 0899 includes: Provincial Gas Tax Funding 4018 Provincial Gas Tax for Transit operating expenses.................................................... 4019 Provincial Gas Tax for Transit capital expenses...................................................... 4020 Provincial Gas Tax.................................................................... 0 1 $ Total of line 0899 includes: Canada Gas Tax Funding 4025 General Government.................................................................. 116,612 Transportation Services: 4030 Roads - Paved.................................................................... 2,077,642 4031 Roads - Unpaved................................................................... 4032 Roads - Bridges and Culverts............................................................ 4033 Roadways - Traffic Operations & Roadside..................................................... 4040 Transit - Conventional................................................................ 4041 Transit - Disabled & special needs.......................................................... 4045 Air transportation................................................................... 4046 Other...................................................... Environmental Services: 4060 Wastewater collection/conveyance......................................................... 298,437 4061 Wastewater treatment & disposal.......................................................... 4062 Urban storm sewer system.............................................................. 2,615,026 4063 Rural storm sewer system.............................................................. 4064 Water treatment................................................................... 4065 Water distribution/transmission........................................................... 196,912 4066 Solid waste collection................................................................ 4067 Solid waste disposal................................................................. 4068 Waste diversion................................................................... 4069 Other......................................................................... 4075 Recreation Facilities - All Other............................................................. 779,166 4076 Cultural services.................................................................... 4080 Commercial and industrial............................................................... 4099 Canada Gas Tax 6,083,795 1 $ 41
1Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:21 2016-V1.03 FIR2016: Cambridge C Schedule 12 Asmt Code: 3006 GRANTS, USER FEES AND SERVICE CHARGES MAH Code: 25101 for the year ended December 31, 2016 Ontario Conditional Grants Canada Conditional Grants Other Municipalities User Fees and Service Charges Ontario Grants - Tangible Capital Assets Canada Grants - Tangible Capital Assets Other Municipalities - Tangible Capital Assets 1 2 3 4 5 6 7 $ $ $ $ $ $ $ 0299 General government............................. 1,714,938 Protection services 0410 Fire..................................... 550,250 108,726 0420 Police.................................... 0421 Court Security................................ 0422 Prisoner Transportation........................... 0430 Conservation authority........................... 0440 Protective inspection and control...................... 57,299 0445 Building permit and inspection services................... 31,896 0450 Emergency measures............................ 0460 Provincial Offences Act (POA)....................... 954,384 0498 Other.............. 0499 Subtotal 0 0 1,504,634 197,921 0 0 0 Transportation services 0611 Roads - Paved............................... 1,286,127 101,336 0612 Roads - Unpaved.............................. 0613 Roads - Bridges and Culverts........................ 0614 Roads - Traffic Operations & Roadside................... 0621 Winter Control - Except sidewalks, Parking Lots.............. 0622 Winter Control - Sidewalks, Parking Lots Only............... 0631 Transit - Conventional........................... 0632 Transit - Disabled & special needs..................... 0640 Parking................................... 429,040 0650 Street lighting................................ 1,332 0660 Air transportation.............................. 0698 Other............... 0699 Subtotal 0 0 1,286,127 531,708 0 0 0 Environmental services 0811 Wastewater collection/conveyance..................... 28,241,623 0812 Wastewater treatment & disposal...................... 0821 Urban storm sewer system......................... 0822 Rural storm sewer system.......................... 0831 Water treatment............................... 0832 Water distribution/transmission....................... 59,550 31,264,977 0840 Solid waste collection............................ 0850 Solid waste disposal............................ 0860 Waste diversion............................... 0898 Other............... 0899 Subtotal 0 0 59,550 59,506,600 0 0 0 Health services 1010 Public health services............................ 1020 Hospitals.................................. 1030 Ambulance services............................. 1035 Ambulance dispatch............................. 1040 Cemeteries................................. 848,270 1098 Other............... 1099 Subtotal 0 0 0 848,270 0 0 0 Social and family services 1210 General assistance............................. 1220 Assistance to aged persons......................... 949,948 447,200 1230 Child care.................................. 1298 Other Social Planning............... 6,500 20,004 1299 Subtotal 956,448 0 0 467,204 0 0 0 Social Housing 1410 Public Housing............................... 1420 Non - Profit/Cooperative Housing...................... 1430 Rent Supplement Programs......................... 1497 Other............... 1498 Other............... 1499 Subtotal 0 0 0 0 0 0 0 Recreation and cultural services 1610 Parks.................................... 387,811 1620 Recreation programs............................ 234,014 1631 Recreation facilities - Golf Course, Marina, Ski Hill............. 1634 Recreation facilities - All Other....................... 3,529,755 43,557 1640 Libraries................................... 177,801 409,498 1645 Museums.................................. 1650 Cultural services.............................. 66,500 72,000 278,290 1698 Other............... 1699 Subtotal 244,301 72,000 0 4,839,368 0 43,557 0 Planning and development 1810 Planning and zoning............................. 585,266 1820 Commercial and industrial.......................... 113,580 1830 Residential development.......................... 1840 Agriculture and reforestation........................ 1850 Tile drainage/shoreline assistance..................... 1898 Other............... 1899 Subtotal 0 0 0 698,846 0 0 0 1910 Other............... 9910 TOTAL 1,200,749 72,000 2,850,311 68,804,855 0 43,557 0 42
SProvince of Ontario - Ministry of Municipal Affairs 09.05.2017 16:21 2016-V1.03 FIR2016: Cambridge C Schedule 20 Asmt Code: 3006 TAXATION INFORMATION MAH Code: 25101 for the year ended December 31, 2016 General Information 1. Optional Property Classes in Effect 2 Y or N 0202 N New Multi-Residential....................... Y 0205 G Parking Lot (Includes CJ, CR, CX, CY, CZ)........... Y 0210 D Office Building........................... Y 0215 S Shopping Centre.......................... Y 0220 L Large Industrial........................... Y 0225 Other........... N 2. Capping Parameters and Results Decrease - Percentage Retained Tax Adjustment - Increasers Net Class Impact Annualized Tax Limit CVA Tax Limit CVA Threshold Value for Protected Properties CVA Threshold Value for Clawed Back Properties Exclude Properties Previously at CVA Tax Exclude Properties that go from Capped to Clawed Back 2 3 4 5 6 7 8 9 10 11 % $ $ % % $ $ Y or N Y or N Y or N 0320 M Multi-Residential.......................... 67.6% -8,840 10.0% 500 N N N 0330 C Commercial............................ 77.7% 11,527 10.0% 500 N N N 0340 I Industrial.............................. 76.0% 20,251 10.0% 500 N N N Exclude Properties that go from Clawed Back to Capped Grad. Tax Rates in Effect? Number of Tax Bands CVA Boundary Low Band % of Highest Band Rate CVA Boundary Middle Band % of Highest Band Rate 3. Graduated Taxation (Tax Bands) 2 3 4 5 6 7 Y or N # $ % $ % 0610 C Commercial............................ N 0611 G Parking Lot............................. N 0612 D Office Building........................... N 0613 S Shopping Centre.......................... N 0620 I Industrial.............................. N 0621 L Large Industrial........................... N Phase-In Program in Effect? Year Current Phase- In Initiated Term of Current Phase-In 4. Phase-In Program in Effect (Most recent Phase-In only) 2 3 4 Y or N Year # of Yrs 0805 R Residential............................. N 0810 M Multi-Residential.......................... N 0815 N New Multi-Residential....................... N 0820 C Commercial (Includes G, D, S).................. N 0840 I Industrial (Includes L)........................ N 0850 F Farmland.............................. N 0855 T Managed Forest.......................... N 0860 P Pipeline............................... N 5. Rebates for Eligible Charities 2 % 1010 Rebate Percentage for Eligible Charities (SLC 72 2099 xx)...... 50.0% INTERIM Billing Installments FINAL Billing Installments 6. Property Tax Due Dates for Current Year Installments First Due Date Last Due Date Installments First Due Date Last Due Date To be completed by Single/Lower-tier Municipalities Only 2 3 4 5 6 7 # YYYYMMDD YYYYMMDD # YYYYMMDD YYYYMMDD 1210 R Residential............................. 2 20160301 20160502 2 20160704 20160901 1220 M Multi-Residential.......................... 2 20160301 20160502 1 20160901 1230 F Farmland.............................. 2 20160301 20160502 2 20160704 20160901 1240 T Managed Forest.......................... 2 20160301 20160502 2 20160704 20160901 1250 C Commercial............................ 2 20160301 20160502 1 20160901 1260 I Industrial.............................. 2 20160301 20160502 1 20160901 1270 P Pipeline............................... 2 20160301 20160502 1 20160901 1298 Other........... 43
2016 FinaProvince of Ontario - Ministry of Municipal Affairs 09.05.2017 16:21 2016-V1.03 FIR2016: Cambridge C Schedule 22 Asmt Code: 3006 MUNICIPAL and SCHOOL BOARD TAXATION MAH Code: 25101 for the year ended December 31, 2016 1. GENERAL PURPOSE LEVY INFORMATION Phase-In Taxable Assessment LT/ST Taxes UT Taxes Education Taxes TOTAL 9299 TOTAL................................................... 15,085,999,191.............................. 78,651,304 90,377,141 65,587,836 234,616,281 Property Tax Rate Percent of CVA Phase-In Tax Rates Municipal Taxes Education RTC Tax RTQ Band Class Description Tax Ratio Full Rate Assessment Taxable Assessment LT / ST UT EDUC TOTAL LT / ST UT Taxes TOTAL 1 2 3 4 5 6 7 16 8 9 10 11 12 13 14 15 LIST LIST % $ $ 0.xxxxxx% 0.xxxxxx% 0.xxxxxx% 0.xxxxxx% $ $ $ $ 1 2001 0 Cambridge C 0010 RT 0 Residential Full Occupied 1.000000 100% 11,324,219,584 11,324,219,584 0.427920% 0.491716% 0.188000% 1.107636% 48,458,600 55,683,000 21,289,533 125,431,133 0031 R1 0 Residential Farm. Awaiting Devel. - Ph I 1.000000 45% 586,000 586,000 0.192560% 0.221272% 0.084600% 0.498432% 1,128 1,297 496 2,921 0050 MT 0 Multi-Residential Full Occupied 1.950000 100% 507,922,355 507,922,355 0.834440% 0.958847% 0.188000% 1.981287% 4,238,307 4,870,198 954,894 10,063,399 0061 M1 0 Multi-Residential Farm. Awaiting Devel. - Ph I 1.000000 45% 1,179,000 1,179,000 0.192560% 0.221272% 0.084600% 0.498432% 2,270 2,609 997 5,876 0080 NT 0 New Multi-Residential Full Occupied 1.000000 100% 147,224,777 147,224,777 0.427920% 0.491716% 0.188000% 1.107636% 630,004 723,928 276,783 1,630,715 0110 FT 0 Farmland Full Occupied 0.250000 100% 33,268,400 33,268,400 0.106980% 0.122929% 0.047000% 0.276909% 35,591 40,897 15,636 92,124 0140 TT 0 Managed Forest Full Occupied 0.250000 100% 1,759,000 1,759,000 0.106980% 0.122929% 0.047000% 0.276909% 1,882 2,162 827 4,871 0210 CT 0 Commercial Full Occupied 1.950000 100% 1,335,113,854 1,335,113,854 0.834440% 0.958847% 1.400000% 3.193287% 11,140,724 12,801,699 18,691,594 42,634,017 0215 CH 0 Commercial Full Occupied, Shared PIL 1.950000 100% 3,809,000 3,809,000 0.834440% 0.958847% 1.400000% 3.193287% 31,784 36,522 53,326 121,632 0240 CU 0 Commercial Excess Land 1.950000 70% 26,268,125 26,268,125 0.584110% 0.671193% 2.401660% 3.656963% 153,435 176,310 630,871 960,616 0270 CX 0 Commercial Vacant Land 1.950000 70% 19,669,600 19,669,600 0.584110% 0.671193% 0.980000% 2.235303% 114,892 132,021 192,762 439,675 0310 GT 0 Parking Lot Full Occupied 1.950000 100% 6,956,610 6,956,610 0.834440% 0.958847% 1.400000% 3.193287% 58,049 66,703 97,393 222,145 0320 DT 0 Office Building Full Occupied 1.950000 100% 39,517,460 39,517,460 0.834440% 0.958847% 1.400000% 3.193287% 329,749 378,912 553,244 1,261,905 0340 ST 0 Shopping Centre Full Occupied 1.950000 100% 510,140,886 510,140,886 0.834440% 0.958847% 1.400000% 3.193287% 4,256,820 4,891,471 7,141,972 16,290,263 0350 SU 0 Shopping Centre Excess Land 1.950000 70% 396,010 396,010 0.584110% 0.671193% 0.980000% 2.235303% 2,313 2,658 3,881 8,852 0510 IT 0 Industrial Full Occupied 1.950000 100% 442,252,948 442,252,948 0.834440% 0.958847% 1.500000% 3.293287% 3,690,335 4,240,529 6,633,794 14,564,658 0515 IH 0 Industrial Full Occupied, Shared PIL 1.950000 100% 1,728,600 1,728,600 0.834440% 0.958847% 1.500000% 3.293287% 14,424 16,575 25,929 56,928 0540 IU 0 Industrial Excess Land 1.950000 70% 8,320,095 8,320,095 0.584110% 0.671193% 1.050000% 2.305303% 48,599 55,844 87,361 191,804 0545 IK 0 Industrial Excess Land, Shared PIL 1.950000 70% 2,096,000 2,096,000 0.584110% 0.671193% 1.050000% 2.305303% 12,243 14,068 22,008 48,319 0570 IX 0 Industrial Vacant Land 1.950000 70% 24,281,650 24,281,650 0.584110% 0.671193% 1.050000% 2.305303% 141,832 162,977 254,957 559,766 0610 LT 0 Large Industrial Full Occupied 1.950000 100% 332,567,069 332,567,069 0.834440% 0.958847% 1.500000% 3.293287% 2,775,073 3,188,809 4,988,506 10,952,388 0620 LU 0 Large Industrial Excess Land 1.950000 70% 5,210,348 5,210,348 0.584110% 0.671193% 1.050000% 2.305303% 30,434 34,971 54,709 120,114 0710 PT 0 Pipeline Full Occupied 1.161300 100% 28,211,000 28,211,000 0.496940% 0.571030% 1.076190% 2.144160% 140,192 161,093 303,604 604,889 2140 JT 0 Industrial, NConstr. Full Occupied 1.950000 100% 45,801,588 45,801,588 0.834440% 0.958847% 1.180000% 2.973287% 382,187 439,167 540,459 1,361,813 2145 JU 0 Industrial, NConstr. Excess Land 1.950000 70% 1,071,412 1,071,412 0.584110% 0.671193% 0.826000% 2.081303% 6,258 7,191 8,850 22,299 2440 XT 0 Commercial, NConstr. Full Occupied 1.950000 100% 195,181,071 195,181,071 0.834440% 0.958847% 1.180000% 2.973287% 1,628,669 1,871,488 2,303,137 5,803,294 2445 XU 0 Commercial, NConstr. Excess Land 1.950000 70% 7,425,389 7,425,389 0.584110% 0.671193% 0.826000% 2.081303% 43,372 49,839 61,334 154,545 2635 YT 0 Office Build., NConstr. Full Occupied 1.950000 100% 9,047,680 9,047,680 0.834440% 0.958847% 1.180000% 2.973287% 75,497 86,753 106,763 269,013 2835 ZT 0 Shopp. Centre, NConstr. Full Occupied 1.950000 100% 24,741,680 24,741,680 0.834440% 0.958847% 1.180000% 2.973287% 206,454 237,235 291,952 735,641 2840 ZU 0 Shopp. Centre, NConstr. Excess Land 1.950000 70% 32,000 32,000 0.584110% 0.671193% 0.826000% 2.081303% 187 215 264 666 0 0 0 0 9201 Subtotal 15,085,999,191 15,085,999,191 78,651,304 90,377,141 65,587,836 234,616,281 44
ma Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:23 2016-V1.03 FIR2016: Cambridge C Schedule 22 Asmt Code: 3006 MUNICIPAL and SCHOOL BOARD TAXATION MAH Code: 25101 for the year ended December 31, 2016 3. UPPER-TIER SPECIAL AREA LEVY INFORMATION LT/ST Taxes UT Taxes Education Taxes TOTAL 9699 TOTAL.................................................................................. 22,400,394 22,400,394 Property Tax Rate Percent of CVA Phase-In Tax Rates Municipal Taxes Education RTC Tax RTQ Band Class Description Tax Ratio Full Rate Assessment Taxable Assessment LT / ST UT EDUC TOTAL LT / ST UT Taxes TOTAL 1 2 3 4 5 6 7 16 8 9 10 11 12 13 14 15 LIST LIST % $ $ 0.xxxxxx% 0.xxxxxx% 0.xxxxxx% 0.xxxxxx% $ $ $ $ 1 6001 320 01 Transit 0010 RT 0 Residential Full Occupied 1.000000 100% 11,324,219,584 11,324,219,584 0.121874% 0.121874% 13,801,279 13,801,279 0031 R1 0 Residential Farm. Awaiting Devel. - Ph I 1.000000 45% 586,000 586,000 0.054843% 0.054843% 321 321 0050 MT 0 Multi-Residential Full Occupied 1.950000 100% 507,922,355 507,922,355 0.237655% 0.237655% 1,207,103 1,207,103 0061 M1 0 Multi-Residential Farm. Awaiting Devel. - Ph I 1.000000 45% 1,179,000 1,179,000 0.054843% 0.054843% 647 647 0080 NT 0 New Multi-Residential Full Occupied 1.000000 100% 147,224,777 147,224,777 0.121874% 0.121874% 179,429 179,429 0110 FT 0 Farmland Full Occupied 0.250000 100% 33,268,400 33,268,400 0.030469% 0.030469% 10,137 10,137 0140 TT 0 Managed Forest Full Occupied 0.250000 100% 1,759,000 1,759,000 0.030469% 0.030469% 536 536 0210 CT 0 Commercial Full Occupied 1.950000 100% 1,335,113,854 1,335,113,854 0.237655% 0.237655% 3,172,965 3,172,965 0215 CH 0 Commercial Full Occupied, Shared PIL 1.950000 100% 3,809,000 3,809,000 0.237655% 0.237655% 9,052 9,052 0240 CU 0 Commercial Excess Land 1.950000 70% 26,268,125 26,268,125 0.166358% 0.166358% 43,699 43,699 0270 CX 0 Commercial Vacant Land 1.950000 70% 19,669,600 19,669,600 0.166358% 0.166358% 32,722 32,722 0310 GT 0 Parking Lot Full Occupied 1.950000 100% 6,956,610 6,956,610 0.237655% 0.237655% 16,533 16,533 0320 DT 0 Office Building Full Occupied 1.950000 100% 39,517,460 39,517,460 0.237655% 0.237655% 93,915 93,915 0340 ST 0 Shopping Centre Full Occupied 1.950000 100% 510,140,886 510,140,886 0.237655% 0.237655% 1,212,375 1,212,375 0350 SU 0 Shopping Centre Excess Land 1.950000 70% 396,010 396,010 0.166358% 0.166358% 659 659 0510 IT 0 Industrial Full Occupied 1.950000 100% 442,252,948 442,252,948 0.237655% 0.237655% 1,051,036 1,051,036 0515 IH 0 Industrial Full Occupied, Shared PIL 1.950000 100% 1,728,600 1,728,600 0.237655% 0.237655% 4,108 4,108 0540 IU 0 Industrial Excess Land 1.950000 70% 8,320,095 8,320,095 0.166358% 0.166358% 13,841 13,841 0545 IK 0 Industrial Excess Land, Shared PIL 1.950000 70% 2,096,000 2,096,000 0.166358% 0.166358% 3,487 3,487 0570 IX 0 Industrial Vacant Land 1.950000 70% 24,281,650 24,281,650 0.166358% 0.166358% 40,394 40,394 0610 LT 0 Large Industrial Full Occupied 1.950000 100% 332,567,069 332,567,069 0.237655% 0.237655% 790,362 790,362 0620 LU 0 Large Industrial Excess Land 1.950000 70% 5,210,348 5,210,348 0.166358% 0.166358% 8,668 8,668 0710 PT 0 Pipeline Full Occupied 1.161300 100% 28,211,000 28,211,000 0.141532% 0.141532% 39,928 39,928 2140 JT 0 Industrial, NConstr. Full Occupied 1.950000 100% 45,801,588 45,801,588 0.237655% 0.237655% 108,850 108,850 2145 JU 0 Industrial, NConstr. Excess Land 1.950000 70% 1,071,412 1,071,412 0.166358% 0.166358% 1,782 1,782 2440 XT 0 Commercial, NConstr. Full Occupied 1.950000 100% 195,181,071 195,181,071 0.237655% 0.237655% 463,858 463,858 2445 XU 0 Commercial, NConstr. Excess Land 1.950000 70% 7,425,389 7,425,389 0.166358% 0.166358% 12,353 12,353 2635 YT 0 Office Build., NConstr. Full Occupied 1.950000 100% 9,047,680 9,047,680 0.237655% 0.237655% 21,502 21,502 2835 ZT 0 Shopp. Centre, NConstr Full Occupied 1.950000 100% 24,741,680 24,741,680 0.237655% 0.237655% 58,800 58,800 2840 ZU 0 Shopp. Centre, NConstr Excess Land 1.950000 70% 32,000 32,000 0.166358% 0.166358% 53 53 0 0 9601 Subtotal 15,085,999,191 15,085,999,191 22,400,394 22,400,394 45
ch Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:23 2016-V1.03 FIR2016: Cambridge C Schedule 22 Asmt Code: 3006 MUNICIPAL and SCHOOL BOARD TAXATION MAH Code: 25101 for the year ended December 31, 2016 Municipal Taxes Education LT / ST UT Taxes TOTAL 4. ADJUSTMENTS TO TAXATION 12 13 14 15 $ $ $ $ 7010 Adjustments for properties, shared as if Payment-In-Lieu (Hydro properties RTQ = H, J, K).................................................. 101,263-101,263 0 5. SUPPLEMENTARY TAXES 9799 Total of all supplementary taxes (Supps, Omits, Section 359).................................................................. 762,090 1,094,454 536,979 2,393,523 6. AMOUNT LEVIED BY TAX RATE 9910 TOTAL Levied by Tax Rate 79,514,657 113,871,989 66,023,552 259,410,198 7. AMOUNTS ADDED TO TAX BILL 8005 Local improvements........................................................................................ 37,283 37,283 8010 Sewer and water service charges................................................................................. 8015 Sewer and water connection charges............................................................................... 8020 Fire service charges........................................................................................ 8025 Minimum tax (differential only).................................................................................. 0 8030 Municipal drainage charges.................................................................................... 0 8035 Waste management collection charges.............................................................................. 0 8040 Business improvement area................................................................................... 262,902 262,902 8097 Other...................................................................... 0 9890 Subtotal 300,185 0 0 300,185 8. OTHER TAXATION AMOUNTS 8045 Railway rights-of-way (RTC = W)................................................................................. 8050 Utility transmission and utility corridors (RTC = U)........................................................................ 8098 Other...................................................................... 0 9892 Subtotal 0 0 0 0 9. TOTAL AMOUNT LEVIED 9990 TOTAL Levies 79,814,842 113,871,989 66,023,552 259,710,383 0 0 0 0 0 46
of Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:23 2016-V1.03 FIR2016: Cambridge C Schedule 24 Asmt Code: 3006 PAYMENTS-IN-LIEU of TAXATION MAH Code: 25101 for the year ended December 31, 2016 1. GENERAL PURPOSE PAYMENTS-IN-LIEU PIL Phased-In Assessment LT/ST PILS UT PILS Education PILS TOTAL 9299 TOTAL.................................................. 43,266,925........................... 315,756 362,832 472,656 1,151,244 Property Tax Rate Percent of PIL CVA PIL Phased-In Tax Rates Municipal PILS Education RTC Tax Class Description Tax Ratio Full Rate Assessment Assessment LT / ST UT EDUC TOTAL LT / ST UT PILS TOTAL RTQ Band 1 2 3 4 5 6 7 16 8 9 10 11 12 13 14 15 LIST LIST % $ $ 0.xxxxxx% 0.xxxxxx% 0.xxxxxx% 0.xxxxxx% $ $ $ $ 1 2001 0 Cambridge C 1015 RP 0 Residential PIL: Full Occupied, Taxable Tenant of Province 1.000000 100% 876,800 876,800 0.427920% 0.491716% 0.188000% 1.107636% 3,752 4,311 1,648 9,711 1028 RG 0 Residential PIL: 'General' Only (No Educ.) 1.000000 100% 669,200 669,200 0.427920% 0.491716% 0.000000% 0.919636% 2,864 3,291 0 6,155 1120 FP 0 Farmland PIL: Full Occupied, Taxable Tenant of Province 0.250000 100% 5,066,200 5,066,200 0.106980% 0.122929% 0.047000% 0.276909% 5,420 6,228 2,381 14,029 1210 CF 0 Commercial PIL: Full Occupied 1.950000 100% 29,322,325 29,322,325 0.834440% 0.958847% 1.400000% 3.193287% 244,677 281,156 410,513 936,346 1220 CG 0 Commercial PIL: 'General' Only (No Educ.) 1.950000 100% 2,326,000 2,326,000 0.834440% 0.958847% 0.000000% 1.793287% 19,409 22,303 0 41,712 1260 CW 0 Commercial PIL: Excess Land, 'General' Only 1.950000 70% 693,000 693,000 0.584110% 0.671193% 0.000000% 1.255303% 4,048 4,651 0 8,699 1290 CZ 0 Commercial PIL: Vacant Land, 'General' Only 1.950000 70% 133,900 133,900 0.584110% 0.671193% 0.000000% 1.255303% 782 899 0 1,681 1310 GF 0 Parking Lot PIL: Full Occupied 1.950000 100% 4,151,000 4,151,000 0.834440% 0.958847% 1.400000% 3.193287% 34,638 39,802 58,114 132,554 1590 IZ 0 Industrial PIL: Vacant Land, 'General' Only 1.950000 70% 28,500 28,500 0.584110% 0.671193% 0.000000% 1.255303% 166 191 0 357 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9201 Subtotal 43,266,925 43,266,925 315,756 362,832 472,656 1,151,244 47
on Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:23 2016-V1.03 FIR2016: Cambridge C Schedule 24 Asmt Code: 3006 PAYMENTS-IN-LIEU of TAXATION MAH Code: 25101 for the year ended December 31, 2016 3. UPPER-TIER SPECIAL AREA PAYMENTS-IN-LIEU INFORMATION LT/ST PILS UT PILS Education PILS TOTAL 9699 TOTAL............................................................................ 89,931 89,931 Property Tax Rate Percent of PIL CVA PIL Phased-In Tax Rates Municipal PILS Education RTC Tax Class Description Tax Ratio Full Rate Assessment Assessment LT / ST UT EDUC TOTAL LT / ST UT PILS TOTAL RTQ Band 1 2 3 4 5 6 7 16 8 9 10 11 12 13 14 15 LIST LIST % $ $ 0.xxxxxx% 0.xxxxxx% 0.xxxxxx% 0.xxxxxx% $ $ $ $ 1 6001 320 01 Transit 1015 RP 0 Residential PIL: Full Occupied, Taxable Tenan 1.000000 100% 876,800 876,800 0.121874% 0.121874% 1,069 1,069 1028 RG 0 Residential PIL: 'General' Only (No Educ.) 1.000000 100% 669,200 669,200 0.121874% 0.121874% 816 816 1120 FP 0 Farmland PIL: Full Occupied, Taxable Tenan 0.250000 100% 5,066,200 5,066,200 0.030469% 0.030469% 1,544 1,544 1210 CF 0 Commercial PIL: Full Occupied 1.950000 100% 29,322,325 29,322,325 0.237655% 0.237655% 69,686 69,686 1220 CG 0 Commercial PIL: 'General' Only (No Educ.) 1.950000 100% 2,326,000 2,326,000 0.237655% 0.237655% 5,528 5,528 1260 CW 0 Commercial PIL: Excess Land, 'General' Only 1.950000 70% 693,000 693,000 0.166358% 0.166358% 1,153 1,153 1290 CZ 0 Commercial PIL: Vacant Land, 'General' Only 1.950000 70% 133,900 133,900 0.166358% 0.166358% 223 223 1310 GF 0 Parking Lot PIL: Full Occupied 1.950000 100% 4,151,000 4,151,000 0.237655% 0.237655% 9,865 9,865 1590 IZ 0 Industrial PIL: Vacant Land, 'General' Only 1.950000 70% 28,500 28,500 0.166358% 0.166358% 47 47 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9601 Subtotal 43,266,925 43,266,925 89,931 89,931 48
eu Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:23 2016-V1.03 FIR2016: Cambridge C Schedule 24 Asmt Code: 3006 PAYMENTS-IN-LIEU of TAXATION MAH Code: 25101 for the year ended December 31, 2016 Municipal PILS Education LT / ST UT PILS TOTAL 4. SUPPLEMENTARY PAYMENTS-IN-LIEU 12 13 14 15 $ $ $ $ 9799 Total of all supplementary PILS (Supps, Omits, Section 444).................................................................. 0 5. PAYMENTS-IN-LIEU LEVIED BY TAX RATE 9910 TOTAL PILS Levied by Tax Rate 315,756 452,763 472,656 1,241,175 6. AMOUNTS ADDED TO PAYMENTS-IN-LIEU 8005 Local improvements........................................................................................ 8010 Sewer and water service charges................................................................................. 8015 Sewer and water connection charges............................................................................... 8020 Fire service charges........................................................................................ 8030 Municipal drainage charges.................................................................................... 0 8035 Waste management collection charges.............................................................................. 0 8040 Business improvement area................................................................................... 0 8097 Other...................................................................... 0 9890 Subtotal 0 0 0 0 7. OTHER PAYMENTS-IN-LIEU AMOUNTS 8045 Railway rights-of-way (RTC = W) - from Ontario Enterprises................................................................... 22,254 31,906 59,635 113,795 8046 Railway rights-of-way (RTC = W) - from Province........................................................................ 0 8050 Utility transmission and utility corridors (RTC = U) - from Ontario Enterprises.......................................................... 28,884 11,247 40,131 8051 Utility transmission and utility corridors (RTC = U) - from Province................................................................ 0 8055 Institutional Payments - Heads and Beds (Mun. Act 323, 324).................................................................. 75,349 108,026 183,375 8060 Hydro-electric Power Dams - from Province........................................................................... 8098 Other...................................................................... 0 9892 Subtotal 126,487 151,179 59,635 337,301 8. TOTAL PAYMENTS-IN-LIEU LEVIED 9990 TOTAL PILS Levied 442,243 603,942 532,291 1,578,476 0 0 0 0 0 49
2 Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:23 2016-V1.03 FIR2016: Cambridge C Schedule 26 Asmt Code: 3006 TAXATION and PAYMENTS-IN-LIEU SUMMARY MAH Code: 25101 for the year ended December 31, 2016 1. Municipal and School Board Taxation TOTAL ENG - Public FRE - Public ENG - Separate FRE - Separate Other 9010 Legislated Percentage of Education Taxes distributed to each School Board (Applic. to Com, Ind, Pipelines).............................................. 100.000% 73.257% 0.459% 25.135% 1.149% 0.000% Taxable Asmt. Taxable Asmt. Phase-In Phase-In Municipal Taxes Distribution of Education Taxes in column 6 by School Board (CVA) (Wtd & Disc CVA) Taxable Asmt. (CVA) Taxable Asmt. (Wtd & Disc CVA) TOTAL Taxes LT / ST UT Education Taxes ENG - Public FRE - Public ENG - Separate FRE - Separate Other Property Class Group 16 2 18 17 3 4 5 6 7 8 9 10 11 $ $ $ $ $ $ $ $ $ $ $ $ $ 0010 Residential............. 11,324,805,584 11,324,483,284 11,324,805,584 11,324,483,284 139,235,654 48,459,728 69,485,897 21,290,029 16,084,180 18,015 5,029,110 158,724 0050 Multi-residential.......... 656,326,132 1,138,203,919 656,326,132 1,138,203,919 13,087,169 4,870,581 6,983,914 1,232,674 1,119,918 224 104,303 8,229 0110 Farmland............. 33,268,400 8,317,100 33,268,400 8,317,100 102,261 35,591 51,034 15,636 15,047 589 0140 Managed Forests......... 1,759,000 439,750 1,759,000 439,750 5,407 1,882 2,698 827 663 3 154 7 9110 Subtotal 12,016,159,116 12,471,444,053 12,016,159,116 12,471,444,053 152,430,491 53,367,782 76,523,543 22,539,166 17,219,808 18,242 5,134,156 166,960 0 0210 Commercial............ 1,384,860,579 2,673,604,560 1,384,860,579 2,673,604,560 47,414,378 11,440,835 16,404,990 19,568,553 14,335,335 89,820 4,918,556 224,843 0 0215 Commercial New Construction. 202,606,460 390,738,744 202,606,460 390,738,744 6,434,050 1,672,041 2,397,538 2,364,471 1,732,141 10,853 594,310 27,168 0 0310 Parking Lot........... 6,956,610 13,565,390 6,956,610 13,565,390 238,678 58,049 83,236 97,393 71,347 447 24,480 1,119 0 0320 Office Building......... 39,517,460 77,059,047 39,517,460 77,059,047 1,355,820 329,749 472,827 553,244 405,290 2,539 139,058 6,357 0 0325 Office Building New Constructio 9,047,680 17,642,976 9,047,680 17,642,976 290,515 75,497 108,255 106,763 78,211 490 26,835 1,227 0 0340 Shopping Centre........ 510,536,896 995,315,281 510,536,896 995,315,281 17,512,149 4,259,133 6,107,163 7,145,853 5,234,838 32,799 1,796,110 82,106 0 0345 Shopping Centre New Construc 24,773,680 48,289,956 24,773,680 48,289,956 795,160 206,641 296,303 292,216 214,069 1,341 73,448 3,358 0 9120 Subtotal 2,178,299,365 4,216,215,954 2,178,299,365 4,216,215,954 74,040,750 18,041,945 25,870,312 30,128,493 22,071,230 138,290 7,572,797 346,176 0 0510 Industrial.............. 478,679,293 913,126,441 478,679,293 913,126,441 16,534,341 3,907,433 5,602,859 7,024,049 5,145,608 32,240 1,765,495 80,706 0 0515 Industrial New Construction.. 46,873,000 90,775,574 46,873,000 90,775,574 1,494,744 388,445 556,990 549,309 402,407 2,521 138,069 6,312 0 0610 Large Industrial........ 337,777,417 655,617,910 337,777,417 655,617,910 11,871,532 2,805,507 4,022,810 5,043,215 3,694,508 23,148 1,267,612 57,947 0 0615 Large Industrial New Constructi 0 0 0 0 0 0 0 0 0 0 0 0 0 9130 Subtotal 863,329,710 1,659,519,924 863,329,710 1,659,519,924 29,900,617 7,101,385 10,182,659 12,616,573 9,242,523 57,910 3,171,176 144,964 0 0710 Pipelines.............. 28,211,000 32,761,434 28,211,000 32,761,434 644,817 140,192 201,021 303,604 222,411 1,394 76,311 3,488 0 0810 Other Property Classes...... 0 0 0 0 0 0 0 0 9160 Adj. for shared PIL properties... 0 101,263 0-101,263-74,182-465 -25,452-1,164 9170 Supplementary Taxes....... 2,393,523 762,090 1,094,454 536,979 446,991 1,218 85,490 3,280 9180 Total Levied by Rate 259,410,198 79,514,657 113,871,989 66,023,552 49,128,781 216,588 16,014,477 663,705 0 9190 Amts Added to Tax Bill...... 300,185 300,185 0 0 9192 Other Taxation Amounts..... 0 0 0 0 9199 TOTAL before Adj. 15,085,999,191 18,379,941,366 15,085,999,191 18,379,941,366 259,710,383 79,814,842 113,871,989 66,023,552 49,128,781 216,588 16,014,477 663,705 0 2. Payments-In-Lieu of Taxation PIL Asmt. PIL Asmt. Phase-In Phase-In Municipal PILS (CVA) (Wtd & Disc CVA) PIL Asmt. PIL Asmt. Total PILS Levied Education PILS LT / ST UT (CVA) (Wtd & Disc CVA) Property Class Group 16 2 18 17 3 4 5 6 $ $ $ $ $ $ $ $ 1010 Residential............. 1,546,000 1,546,000 1,546,000 1,546,000 17,751 6,616 9,487 1,648 1050 Multi-residential.......... 0 0 0 0 0 0 0 0 1110 Farmland............. 5,066,200 1,266,550 5,066,200 1,266,550 15,573 5,420 7,772 2,381 1140 Managed Forests......... 0 0 0 0 0 0 0 0 9210 Subtotal 6,612,200 2,812,550 6,612,200 2,812,550 33,324 12,036 17,259 4,029 1210 Commercial............ 32,475,225 62,842,952 32,475,225 62,842,952 1,065,028 268,916 385,599 410,513 1215 Commercial New Construction. 0 0 0 0 0 0 0 0 1310 Parking Lot........... 4,151,000 8,094,450 4,151,000 8,094,450 142,419 34,638 49,667 58,114 1320 Office Building......... 0 0 0 0 0 0 0 0 1325 Office Building New Constructio 0 0 0 0 0 0 0 0 1340 Shopping Centre........ 0 0 0 0 0 0 0 0 Part 3 contains Distribution of PILS by School Boards 1345 Shopping Centre New Construc 0 0 0 0 0 0 0 0 9220 Subtotal 36,626,225 70,937,402 36,626,225 70,937,402 1,207,447 303,554 435,266 468,627 1510 Industrial.............. 28,500 38,903 28,500 38,903 404 166 238 0 1515 Industrial New Construction.. 0 0 0 0 0 0 0 0 1610 Large Industrial........ 0 0 0 0 0 0 0 0 1615 Large Industrial New Constructi 0 0 0 0 0 0 0 0 9230 Subtotal 28,500 38,903 28,500 38,903 404 166 238 0 1718 Pipelines.............. 0 0 0 0 0 0 0 0 1810 Other Property Classes...... 0 0 0 0 0 0 0 0 9270 Supplementary PILS........ 0 0 0 0 9280 Total Levied by Rate 1,241,175 315,756 452,763 472,656 9290 Amts Added to PILs........ 0 0 0 0 9292 Other PIL Amounts........ 337,301 126,487 151,179 59,635 9299 TOTAL before Adj. 43,266,925 73,788,855 43,266,925 73,788,855 1,578,476 442,243 603,942 532,291 50
2 Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:23 2016-V1.03 FIR2016: Cambridge C Schedule 26 Asmt Code: 3006 TAXATION and PAYMENTS-IN-LIEU SUMMARY MAH Code: 25101 for the year ended December 31, 2016 3. Payments-In-Lieu of Taxation: Distribution of Entitlements PILS Levied TOTAL PILS Adjustment TOTAL PIL Distrib. of PIL Entitlement in Col. 7 Distribution of Education PILS in column 10 by School Board Source of PILS LT / ST UT Education Levied to PILS Levied Entitlement English - English - French - LT / ST UT Education French - Public Other Public Separate Separate 3 4 5 2 6 7 8 9 10 11 12 13 14 15 $ $ $ $ $ $ $ $ $ $ $ $ $ $ 5010 Canada........................ 29,723 42,620 49,868 122,211 122,211 29,723 42,620 49,868 36,532 229 12,534 573 5020 Canada Enterprises................. 0 0 Ontario Municipal Tax Assist. Act 5210 Prev. Exempt Properties............ 0 0 5220 Other Mun. Tax Asst. Act........... 22,783 32,669 1,655 57,107 57,107 22,783 32,669 1,655 1,576 2 74 3 5230 Inst. Payments - Heads and Beds......... 75,349 108,026 0 183,375 183,375 75,349 108,026 5232 Railway Rights-of-way............... 0 0 0 0 0 5234 Utility Corridors/Transmission........... 0 0 0 0 0 5236 Hydro-Electric Power Dams............ 0 0 0 0 0 5240 Other... 0 0 Ontario Enterprises 5410 Ontario Mortgage and Housing Corporation.... 5,405 7,750 2,375 15,530 15,530 5,405 7,750 2,375 1,173 1 1,199 2 5430 Liquor Control Board of Ont............ 5,265 7,550 12,815 12,815 5,265 7,550 5432 Railway Rights-of-way............... 22,254 31,906 59,635 113,795 113,795 22,254 31,906 59,635 43,687 274 14,989 685 5434 Utility Corridors/Transmission........... 28,884 11,247 0 40,131 40,131 28,884 11,247 5437 Ontario Lottery and Gaming Corp......... 0 0 5460 Other... 0 0 5610 Municipal Enterprises................ 47,753 68,473 80,118 196,344 196,344 47,753 68,473 80,118 58,692 368 20,138 920 5910 Other Muns and Enterprises............ 204,827 293,701 338,640 837,168 837,168 204,827 293,701 338,640 248,078 1,554 85,117 3,891 5950 Amounts Added to PIL............... 0 0 0 0 0 9599 TOTAL 442,243 603,942 532,291 1,578,476 0 1,578,476 442,243 603,942 532,291 389,738 2,428 134,051 6,074 0 51
C Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:23 2016-V1.03 FIR2016: Cambridge C Schedule 40 Asmt Code: 3006 CONSOLIDATED STATEMENT OF OPERATIONS: EXPENSES MAH Code: 25101 for the year ended December 31, 2016 Salaries, Wages and Employee Benefits Interest on Long Term Debt Materials Contracted Services Rents and Financial Expenses External Transfers Amortization Total Expenses Before Adjustments Inter-Functional Adjustments Allocation of Program Support * Total Expenses After Adjustments 1 2 3 4 5 6 16 7 12 13 11 $ $ $ $ $ $ $ $ $ $ $ General government 0240 Governance.......................... 562,836 192,094 754,930 754,930 0250 Corporate Management.................... 3,935,365 2,071,901 500,000 6,507,266-90,160 6,417,106 0260 Program Support....................... 12,822,996 9,057,260 422,034 79,207 804,314 23,185,811-5,425,628-16,955,869 804,314 0299 Subtotal 17,321,197 0 11,321,255 422,034 79,207 500,000 804,314 30,448,007-5,515,788-16,955,869 7,976,350 Protection services 0410 Fire.............................. 19,778,313 1,195,949 30,959 455,930 21,461,151 307,700 2,419,009 24,187,860 0420 Police............................. 0 0 0421 Court Security......................... 0 0 0422 Prisoner Transportation.................... 0 0 0430 Conservation authority.................... 0 0 0440 Protective inspection and control............... 646,698 7,777 230,550 132,278 1,017,303 21,952 115,485 1,154,740 0445 Building permit and inspection services............ 1,398,580 880,172 2,278,752-111,800 240,797 2,407,749 0450 Emergency measures..................... 0 0 0460 Provincial Offences Act (POA)................ 477,190 477,190 53,027 530,217 0498 Other 0 0 0499 Subtotal 21,823,591 0 2,561,088 261,509 132,278 0 455,930 25,234,396 217,852 2,828,318 28,280,566 Transportation services 0611 Roads - Paved........................ 6,111,519 111,181 6,177,080 339,009 5,964,484 18,703,273-1,190,535 1,946,059 19,458,797 0612 Roads - Unpaved....................... 0 0 0613 Roads - Bridges and Culverts................. 0 0 0614 Roads - Traffic Operations & Roadside............ 179,356 41,200 220,556 24,509 245,065 0621 Winter Control - Except sidewalks, Parking Lots....... 801,313 248,177 223,384 1,272,874 433,956 189,667 1,896,497 0622 Winter Control - Sidewalks, Parking Lots Only........ 174,086 96,773 603,035 873,894 97,109 971,003 0631 Transit - Conventional..................... 0 0 0632 Transit - Disabled & special needs.............. 0 0 0640 Parking............................ 997,585 374,065 526,097 11,133 158,244 2,067,124-121,263 216,229 2,162,090 0650 Street lighting......................... 2,038,247 2,038,247 226,495 2,264,742 0660 Air transportation....................... 0 0 0698 Other 0 0 0699 Subtotal 8,263,859 111,181 8,975,542 1,468,141 11,133 0 6,346,112 25,175,968-877,842 2,700,068 26,998,194 Environmental services 0811 Wastewater collection/conveyance.............. 1,555,566 20,011,825 19,461 3,338,170 24,925,022 2,660,804 3,065,406 30,651,232 0812 Wastewater treatment & disposal............... 0 0 0821 Urban storm sewer system.................. 412,152 2,858,595 4,124 4,131,558 7,406,429 127,624 837,203 8,371,256 0822 Rural storm sewer system................... 0 0 0831 Water treatment........................ 0 0 0832 Water distribution/transmission................ 3,321,739 183,508 4,956,979 15,437,869 1,808,836 25,708,931 2,784,964 3,166,313 31,660,208 0840 Solid waste collection..................... 79,060 22,035 101,095 11,234 112,329 0850 Solid waste disposal..................... 0 0 0860 Waste diversion........................ 0 0 0898 Other 0 0 0899 Subtotal 5,368,517 183,508 27,849,434 15,441,993 19,461 0 9,278,564 58,141,477 5,573,392 7,080,156 70,795,025 Health services 1010 Public health services..................... 0 0 1020 Hospitals........................... 0 0 1030 Ambulance services...................... 0 0 1035 Ambulance dispatch...................... 0 0 1040 Cemeteries.......................... 962,717 200,016 79,248 1,241,981 121,962 151,565 1,515,508 1098 Other 0 0 1099 Subtotal 962,717 0 200,016 0 0 0 79,248 1,241,981 121,962 151,565 1,515,508 Social and family services 1210 General assistance...................... 0 0 1220 Assistance to aged persons.................. 1,709,693 492,880 8,035 2,210,608 245,648 2,456,256 1230 Child care........................... 0 0 1298 Other Social Planning 296,900 296,900 32,992 329,892 1299 Subtotal 1,709,693 0 492,880 8,035 0 296,900 0 2,507,508 0 278,640 2,786,148 52
C Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:23 2016-V1.03 FIR2016: Cambridge C Schedule 40 Asmt Code: 3006 CONSOLIDATED STATEMENT OF OPERATIONS: EXPENSES MAH Code: 25101 for the year ended December 31, 2016 Salaries, Wages and Employee Benefits Interest on Long Term Debt Materials Contracted Services Rents and Financial Expenses External Transfers Amortization Total Expenses Before Adjustments Inter-Functional Adjustments Allocation of Program Support * Total Expenses After Adjustments Social Housing 1 2 3 4 5 6 16 7 12 13 11 $ $ $ $ $ $ $ $ $ $ $ 1410 Public Housing........................ 0 0 1420 Non-Profit/Cooperative Housing............... 0 0 1430 Rent Supplement Programs.................. 0 0 1497 Other 0 0 1498 Other 0 0 1499 Subtotal 0 0 0 0 0 0 0 0 0 0 0 Recreation and cultural services 1610 Parks............................. 4,043,734 2,604,849 269,226 537,623 7,455,432 417,698 874,883 8,748,013 1620 Recreation programs..................... 1,866,994 1,373,570 90,000 1,454,905 400,667 5,186,136 576,296 5,762,432 1631 Rec. Fac. - Golf Crs, Marina, Ski Hill............. 0 0 1634 Rec. Fac. - All Other...................... 3,749,473 285,964 3,030,772 341,999 1,893,044 9,301,252 62,543 1,040,528 10,404,323 1640 Libraries............................ 4,552,826 2,191,883 30,956 314,433 7,090,098 787,869 7,877,967 1645 Museums........................... 11,018 107,485 118,503 13,168 131,671 1650 Cultural services....................... 873,121 541,582 140,325 1,555,028 172,799 1,727,827 1698 Other 0 0 1699 Subtotal 15,086,148 296,982 9,742,656 732,181 0 1,454,905 3,393,577 30,706,449 480,241 3,465,543 34,652,233 Planning and development 1810 Planning and zoning..................... 1,496,225 694,348 2,190,573 243,422 2,433,995 1820 Commercial and Industrial.................. 752,236 1,075,619 22,679 22,500 1,873,034 183 208,157 2,081,374 1830 Residential development................... 0 0 1840 Agriculture and reforestation................. 0 0 1850 Tile drainage/shoreline assistance.............. 0 0 1898 Other 0 0 1899 Subtotal 2,248,461 0 1,769,967 22,679 22,500 0 0 4,063,607 183 451,579 4,515,369 1910 Other 0 0 9910 TOTAL 72,784,183 591,671 62,912,838 18,356,572 264,579 2,251,805 20,357,745 177,519,393 0 0 177,519,393 53
Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:23 2016-V1.03 FIR2016: Cambridge C Schedule 42 ADDITIONAL INFORMATION Asmt Code: 3006 MAH Code: 25101 for the year ended December 31, 2016 Additional information contained in Schedule 40 1 Total of column 1 includes: $ 5010 Salaries and wages....................................................... 55,599,290 5020 Employee benefits........................................................ 17,184,893 5099 Total Salaries, Wages and Employee benefits (Not including line 5050)............................ 72,784,183 5050 Salaries, Wages and Employee benefits capitalized on Schedule 51............................. 5098 Total Salaries, Wages and Employee benefits (including capitalized wages)......................... 72,784,183 Total of column 3 includes: 5110 Amounts for tax write-offs reported in SLC 40 0250 03........................... Total of column 4 includes: 5210 Municipal Property Assessment Corporation (MPAC)...................................... Total of column 5 includes: 5610 Short term interest costs..................................................... Total of column 6 includes: 5810 Grants to charitable and non-profit organizations....................................... 296,900 5820 Grants to universities and colleges............................................... 500,000 Contributions to UNCONSOLIDATED joint local boards 5840 Health unit.......................................................... 5850 District Social Services Administration Board (DSSAB)................................... 5860 Consolidated Municipal Service Manager (CMSM)..................................... 5870 Homes for the aged..................................................... 5880 Recreation boards...................................................... 5890 Fire area boards....................................................... 5895 Other................................. 5896 Other................................. 5897 Other................................. 5898 Other................................. Total of column 11 includes: Payments for long term commitments and liabilities financed from the consolidated 6010 statement of operations...................................................... 54
Tan Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:23 2016-V1.03 FIR2016: Cambridge C Schedule 51 Asmt Code: 3006 SCHEDULE OF TANGIBLE CAPITAL ASSETS MAH Code: 25101 for the year ended December 31, 2016 ANALYSIS BY FUNCTIONAL CLASSIFICATION COST AMORTIZATION 2016 Opening Net Book Value 2016 Opening Cost Balance Additions and Betterments Disposals Write Downs 2016 Closing Cost Balance 2016 Opening Amortization Balance Annual Amortization Amortization Disposal 2016 Closing Amortization Balance 2016 Closing Net Book Value 1 2 3 4 5 6 7 8 9 10 11 $ $ $ $ $ $ $ $ $ $ $ 0299 General government........................ 40,486,354 47,980,333 604,471 48,584,804 7,493,979 804,317 8,298,296 40,286,508 Protection services 0410 Fire............................... 5,867,738 13,853,485 13,853,485 7,985,747 455,930 8,441,677 5,411,808 0420 Police.............................. 0 0 0 0 0 0 0421 Court Security.......................... 0 0 0 0 0 0 0422 Prisoner Transportation..................... 0 0 0 0 0 0 0430 Conservation authority..................... 0 0 0 0 0 0 0440 Protective inspection and control................ 0 0 0 0 0 0 0445 Building permit and inspection services............ 0 0 0 0 0 0 0450 Emergency measures...................... 0 0 0 0 0 0 0460 Provincial Offences Act (POA)................. 0 0 0 0 0 0 0498 Other. 0 0 0 0 0 0 0499 Subtotal 5,867,738 13,853,485 0 0 0 13,853,485 7,985,747 455,930 0 8,441,677 5,411,808 Transportation services 0611 Roads - Paved......................... 70,018,302 171,382,232 8,817,541 852,357 179,347,416 101,363,930 5,733,844 824,532 106,273,242 73,074,174 0612 Roads - Unpaved........................ 0 0 0 0 0 0 0613 Roads - Bridges and Culverts.................. 1,226,388 2,788,223 1,088,555 3,876,778 1,561,835 230,641 1,792,476 2,084,302 0614 Roads - Traffic Operations & Roadside............. 0 0 0 0 0 0 0621 Winter Control - Except sidewalks, Parking Lots........ 2,012,469 7,028,125 7,028,125 5,015,656 223,384 5,239,040 1,789,085 0622 Winter Control - Sidewalks, Parking Lots Only......... 0 0 0 0 0 0 0631 Transit - Conventional..................... 0 0 0 0 0 0 0632 Transit - Disabled & special needs............... 0 0 0 0 0 0 0640 Parking............................. 6,996,425 8,369,733 8,369,733 1,373,308 158,244 1,531,552 6,838,181 0650 Street lighting.......................... 0 0 0 0 0 0 0660 Air transportation........................ 0 0 0 0 0 0 0698 Other. 0 0 0 0 0 0 0699 Subtotal 80,253,584 189,568,313 9,906,096 852,357 0 198,622,052 109,314,729 6,346,113 824,532 114,836,310 83,785,742 Environmental services 0811 Wastewater collection/conveyance............... 64,048,139 102,590,565 17,618,565 119,401 120,089,729 38,542,426 3,338,170 100,730 41,779,866 78,309,863 0812 Wastewater treatment & disposal................ 0 0 0 0 0 0 0821 Urban storm sewer system................... 56,056,170 100,090,502 21,749,411 212,414 121,627,499 44,034,332 4,131,558 161,884 48,004,006 73,623,493 0822 Rural storm sewer system................... 0 0 0 0 0 0 0831 Water treatment......................... 0 0 0 0 0 0 0832 Water distribution/transmission................. 60,002,138 84,577,488 11,038,677 115,802 95,500,363 24,575,350 1,808,836 83,033 26,301,153 69,199,210 0840 Solid waste collection...................... 0 0 0 0 0 0 0850 Solid waste disposal...................... 0 0 0 0 0 0 0860 Waste diversion......................... 0 0 0 0 0 0 0898 Other. 0 0 0 0 0 0 0899 Subtotal 180,106,447 287,258,555 50,406,653 447,617 0 337,217,591 107,152,108 9,278,564 345,647 116,085,025 221,132,566 Health services 1010 Public health services...................... 0 0 0 0 0 0 1020 Hospitals............................ 0 0 0 0 0 0 1030 Ambulance services...................... 0 0 0 0 0 0 1035 Ambulance dispatch...................... 0 0 0 0 0 0 1040 Cemeteries........................... 1,953,709 3,052,707 139,416 3,192,123 1,098,998 79,248 1,178,246 2,013,877 1098 Other. 0 0 0 0 0 0 1099 Subtotal 1,953,709 3,052,707 139,416 0 0 3,192,123 1,098,998 79,248 0 1,178,246 2,013,877 Social and family services 1210 General assistance....................... 0 0 0 0 0 0 1220 Assistance to aged persons.................. 0 0 0 0 0 0 1230 Child care............................ 0 0 0 0 0 0 1298 Other. 0 0 0 0 0 0 1299 Subtotal 0 0 0 0 0 0 0 0 0 0 0 55
Tan Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:23 2016-V1.03 FIR2016: Cambridge C Schedule 51 Asmt Code: 3006 SCHEDULE OF TANGIBLE CAPITAL ASSETS MAH Code: 25101 for the year ended December 31, 2016 ANALYSIS BY FUNCTIONAL CLASSIFICATION COST AMORTIZATION 2016 Opening Net Book Value 2016 Opening Cost Balance Additions and Betterments Disposals Write Downs 2016 Closing Cost Balance 2016 Opening Amortization Balance Annual Amortization Amortization Disposal 2016 Closing Amortization Balance 2016 Closing Net Book Value 1 2 3 4 5 6 7 8 9 10 11 $ $ $ $ $ $ $ $ $ $ $ Social Housing 1410 Public Housing......................... 0 0 0 0 0 0 1420 Non-Profit/Cooperative Housing................ 0 0 0 0 0 0 1430 Rent Supplement Programs.................. 0 0 0 0 0 0 1497 Other. 0 0 0 0 0 0 1498 Other. 0 0 0 0 0 0 1499 Subtotal 0 0 0 0 0 0 0 0 0 0 0 Recreation and cultural services 1610 Parks.............................. 68,869,379 74,323,749 674,777 74,998,526 5,454,370 537,624 5,991,994 69,006,532 1620 Recreation programs...................... 8,958,015 18,368,968 18,368,968 9,410,953 400,667 9,811,620 8,557,348 1631 Rec. Fac. - Golf Crs, Marina, Ski Hill.............. 0 0 0 0 0 0 1634 Rec. Fac. - All Other...................... 36,459,039 73,403,881 73,403,881 36,944,842 1,893,044 38,837,886 34,565,995 1640 Libraries............................. 10,322,264 15,503,805 15,503,805 5,181,541 314,433 5,495,974 10,007,831 1645 Museums............................ 4,821,357 5,580,624 5,580,624 759,267 107,485 866,752 4,713,872 1650 Cultural services........................ 5,624,787 6,601,325 6,601,325 976,538 140,320 1,116,858 5,484,467 1698 Other. 0 0 0 0 0 0 1699 Subtotal 135,054,841 193,782,352 674,777 0 0 194,457,129 58,727,511 3,393,573 0 62,121,084 132,336,045 Planning and development 1810 Planning and zoning...................... 0 0 0 0 0 0 1820 Commercial and Industrial................... 0 0 0 0 0 0 1830 Residential development.................... 0 0 0 0 0 0 1840 Agriculture and reforestation.................. 0 0 0 0 0 0 1850 Tile drainage/shoreline assistance............... 0 0 0 0 0 0 1898 Other. 0 0 0 0 0 0 1899 Subtotal 0 0 0 0 0 0 0 0 0 0 0 1910 Other. 0 0 0 0 0 0 9910 Total Tangible Capital Assets 443,722,673 735,495,745 61,731,413 1,299,974 0 795,927,184 291,773,072 20,357,745 1,170,179 310,960,638 484,966,546 56
eprovince of Ontario - Ministry of Municipal Affairs 09.05.2017 16:23 2016-V1.03 FIR2016: Cambridge C Schedule 51 SCHEDULE OF TANGIBLE CAPITAL ASSETS Asmt Code: 3006 MAH Code: 25101 for the year ended December 31, 2016 SEGMENTED BY ASSET CLASS 2016 Opening Net Book Value (NBV) 2016 Closing Net Book Value (NBV) 1 11 General Capital Assets $ $ 2005 Land................................... 82,497,346 82,497,346 2010 Land Improvements........................... 13,695,318 9,436,098 2020 Buildings................................. 82,051,940 82,692,538 2030 Machinery & Equipment......................... 1,552,917 1,800,210 2040 Vehicles.................................. 4,011,009 3,610,251 2097 Other Information Technology........ 581,895 293,855 2098 Other........ 0 2099 Total General Capital Assets 184,390,425 180,330,298 2016 Opening Net Book Value (NBV) 2016 Closing Net Book Value (NBV) 1 11 Infrastructure Assets $ $ 2205 Land.................................... 7,140,890 7,557,498 2210 Land Improvements........................... 27,307,056 37,394,972 2220 Buildings................................. 9,190,049 9,654,628 2230 Machinery & Equipment......................... 1,711,406 1,428,178 2240 Vehicles.................................. 4,220,212 4,427,300 2250 Linear Assets............................... 208,896,071 242,370,565 2297 Other Bridges, Dams and Other........ 866,564 1,803,107 2298 Other........ 0 2299 Total Infrastructure Assets 259,332,248 304,636,248 9920 Total Tangible Capital Assets 443,722,673 484,966,546 2405 Construction-in-progress 96,971,710 75,703,986 9921 Total Tangible Capital Assets and Construction-in-progress 540,694,383 560,670,532 57
t Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:23 2016-V1.03 FIR2016: Cambridge C Schedule 51 Asmt Code: 3006 SCHEDULE OF TANGIBLE CAPITAL ASSET: CONSTRUCTION-IN-PROGRESS MAH Code: 25101 for the year ended December 31, 2016 ANALYSIS BY FUNCTIONAL CLASSIFICATION COST 2016 Opening Balance Expenditures in 2016 Less Assets Capitalized 2016 Closing Balance 1 2 3 4 $ $ $ $ 0299 General government.......................... 0 0 Protection services 0410 Fire.................................. 0 0 0420 Police................................. 0 0 0421 Court Security............................ 0 0 0422 Prisoner Transportation....................... 0 0 0430 Conservation authority........................ 0 0 0440 Protective inspection and control.................. 0 0 0445 Building permit and inspection services.............. 0 0 0450 Emergency measures........................ 0 0 0460 Provincial Offences Act (POA).................... 0 0 0498 Other 0 0 0499 Subtotal 0 0 0 0 Transportation services 0611 Roads - Paved............................ 26,736,158 7,394,770 12,351,907 21,779,021 0612 Roads - Unpaved........................... 0 0 0613 Roads - Bridges and Culverts.................... 0 0 0614 Roadways - Traffic Operations & Roadside............. 0 0 0621 Winter Control - Except sidewalks, Parking Lots.......... 0 0 0622 Winter Control - Sidewalks, Parking Lots Only........... 0 0 0631 Transit - Conventional........................ 0 0 0632 Transit - Disabled & special needs................. 0 0 0640 Parking................................ 0 0 0650 Street lighting............................. 0 0 0660 Air transportation........................... 0 0 0698 Other 0 0 0699 Subtotal 26,736,158 7,394,770 12,351,907 21,779,021 Environmental services 0811 Wastewater collection/conveyance................. 21,575,766 9,613,512 16,057,999 15,131,279 0812 Wastewater treatment & disposal.................. 0 0 0821 Urban storm sewer system..................... 27,107,550 5,679,713 9,487,149 23,300,114 0822 Rural storm sewer system...................... 0 0 0831 Water treatment........................... 0 0 0832 Water distribution/transmission................... 21,552,236 9,037,965 15,096,629 15,493,572 0840 Solid waste collection........................ 0 0 0850 Solid waste disposal......................... 0 0 0860 Waste diversion........................... 0 0 0898 Other 0 0 0899 Subtotal 70,235,552 24,331,190 40,641,777 53,924,965 Health services 1010 Public health services........................ 0 0 1020 Hospitals............................... 0 0 1030 Ambulance services......................... 0 0 1035 Ambulance dispatch......................... 0 0 1040 Cemeteries.............................. 0 0 1098 Other 0 0 1099 Subtotal 0 0 0 0 Social and family services 1210 General assistance.......................... 0 0 1220 Assistance to aged persons..................... 0 0 1230 Child care............................... 0 0 1298 Other 0 0 1299 Subtotal 0 0 0 0 Social Housing 1410 Public Housing............................ 0 0 1420 Non-Profit/Cooperative Housing................... 0 0 1430 Rent Supplement Programs..................... 0 0 1497 Other 0 0 1498 Other 0 0 1499 Subtotal 0 0 0 0 Recreation and cultural services 1610 Parks................................. 0 0 1620 Recreation programs......................... 0 0 1631 Rec. Fac. - Golf Crs, Marina, Ski Hill................ 0 0 1634 Rec. Fac. - All Other......................... 0 0 1640 Libraries................................ 0 0 1645 Museums............................... 0 0 1650 Cultural services........................... 0 0 1698 Other 0 0 1699 Subtotal 0 0 0 0 Planning and development 1810 Planning and zoning......................... 0 0 1820 Commercial and Industrial...................... 0 0 1830 Residential development....................... 0 0 1840 Agriculture and reforestation..................... 0 0 1850 Tile drainage/shoreline assistance................. 0 0 1898 Other 0 0 1899 Subtotal 0 0 0 0 1910 Other 0 0 9910 Total Construction-In-Progress 96,971,710 31,725,960 52,993,684 75,703,986 58
et Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:23 2016-V1.03 FIR2016: Cambridge C Schedule 53 Asmt Code: 3006 CONSOLIDATED STATEMENT OF CHANGE IN NET FINANCIAL ASSETS MAH Code: 25101 (NET DEBT) AND TANGIBLE CAPITAL ASSET ACQUISITION FINANCING/DONATIONS for the year ended December 31, 2016 CONSOLIDATED STATEMENT OF CHANGE IN NET FINANCIAL ASSETS (NET DEBT) 1 $ 1010 Annual Surplus/(Deficit) (SLC 10 2099 01)...................................................... 16,648,691 1020 Acquisition of tangible capital assets......................................................... -24,473,480 1030 Amortization of tangible capital assets (SLC 51 9910 08).............................................. 20,357,745 1031 Contributed (Donated) tangible capital assets.................................................... -15,990,209 1032 Change in construction-in-progress.......................................................... 1040 (Gain)/Loss on sale of tangible capital assets.................................................... -21,803 1050 Proceeds on sale of tangible capital assets...................................................... 151,599 1060 Write-downs of tangible capital assets........................................................ 1070 Other.............................. 1071 Other.............................. 1099 Subtotal -19,976,148 1210 Change in supplies inventories............................................................ 334,224 1220 Change in prepaid expenses............................................................. -331,650 1230 Other.............................. 1299 Subtotal 2,574 1410 (Increase)/decrease in net financial assets/net debt................................................. -3,324,883 1420 Net financial assets (net debt), beginning of year................................................... 97,654,165 9910 Net financial assets (net debt), end of year...................................................... 94,329,282 SOURCES OF FINANCING FOR TCA ACQUISITIONS / DONATIONS 1 Long Term Liabilities Incurred $ 0205 Canada Mortgage and Housing Corporation (CMHC)................................................ 0210 Ontario Financing Authority.............................................................. 0215 Commercial Area Improvement Program....................................................... 0220 Other Ontario housing programs........................................................... 0235 Serial debentures................................................................... 7,250,000 0240 Sinking fund debentures............................................................... 0245 Long term bank loans................................................................. 0250 Long term reserve fund loans............................................................. 0255 Lease purchase agreements (Tangible capital leases)................................................ 0260 Construction Financing Debentures.......................................................... 0265 Infrastructure Ontario................................................................. 0297 Other.............................. 0298 Other.............................. 0299 Subtotal 7,250,000 Financing from Dedicated Revenue 0405 Municipal Property Tax by Levy........................................................... 0406 Reserves and Reserve funds (SLC 60 1012 01 + SLC 60 1012 02 + SLC 60 1012 03)............................... 26,529,064 0410 Municipal User Fees & Service Charges....................................................... 0415 Development Charges (SLC 61 0299 08)....................................................... 1,383,496 0416 Recreation land (The Planning Act) (SLC 60 1032 01)................................................ 55,072 0419 Donations....................................................................... 0420 Other Contributions from Others.............................. 1,847,918 0446 Proceeds from the sale of Tangible Capital Assets, etc............................................... 0447 Investment income.................................................................. 0448 Prepaid special charges................................................................ 0495 Other Opening unexpended capital financing balance.............................. 29,015,787 0496 Other Capital expenses.............................. -14,370,663 0497 Other Return to reserves & reserve fund.............................. -11,676,547 0498 Other Equipment Operating Fund.............................. 55,959 0501 Subtotal 32,840,086 Government Transfers 0425 Capital Grants: Federal (SLC 12 9910 06 - (SLC 10 4099 01 - SLC 60 1047 01).................................. 43,557 0430 Capital Grants: Provincial (SLC 12 9910 05 - (SLC 10 4019 01 - SLC 60 1045 01)................................. 0 0435 Capital Grants: Other Municipalities (SLC 12 9910 07)................................................ 0 0440 Canada Gas Tax (SLC 10 4099 01).......................................................... 6,083,795 0445 Provincial Gas Tax (SLC 10 4019 01)......................................................... 0 0502 Subtotal 6,127,352 0499 Subtotal 38,967,438 0610 Contributed (Donated) tangible capital assets.................................................... 15,990,209 9920 Total Capital Financing 62,207,647 0810 Unexpended Capital Financing or (Unfinanced Capital Outlay)........................................... 21,743,958 59
onsprovince of Ontario - Ministry of Municipal Affairs 09.05.2017 16:23 2016-V1.03 FIR2016: Cambridge C Schedule 54 Asmt Code: 3006 CONSOLIDATED STATEMENT OF CASH FLOW - INDIRECT METHOD MAH Code: 25101 for the year ended December 31, 2016 * Municipalities must choose either the direct or indirect method. If direct method is chosen, please use Schedule 54A. CONSOLIDATED STATEMENT OF CASH FLOW - INDIRECT METHOD 2016 Actual 1 Operating Transactions $ 2010 Annual Surplus/(Deficit) (SLC 10 2099 01)....................................................... 16,648,691 2020 Non-cash items including amortization......................................................... 20,335,942 2021 Contributed (Donated) tangible capital assets..................................................... -15,990,209 2022 Change in non-cash assets and liabilities....................................................... -583,469 2030 Prepaid expenses.................................................................... -331,650 2040 Change in deferred revenue.............................................................. 1,763,131 2096 Other................................................. 2097 Other................................................. 2098 Other................................................. 2099 Cash provided by operating transactions 21,842,436 Capital Transactions 0610 Proceeds on sale of tangible capital assets...................................................... 151,599 0620 Cash used to acquire tangible capital assets...................................................... -24,473,480 0630 Change in construction-in-progress........................................................... 0698 Other................................................. 0699 Cash applied to capital transactions -24,321,881 Investing Transactions 0810 Proceeds from portfolio investments.......................................................... 0820 Portfolio investments.................................................................. -1,100,941 0898 Other................................................. 0899 Cash provided by / (applied to) investing transactions -1,100,941 Financing Transactions 1010 Proceeds from long term debt issues.......................................................... 7,250,000 1020 Principal long term debt repayment........................................................... -2,781,402 1030 Temporary loans.................................................................... 1031 Repayment of temporary loans............................................................. 1096 Other................................................. 1097 Other................................................. 1098 Other................................................. 1099 Cash applied to financing transactions 4,468,598 1210 Increase in cash and cash equivalents.......................................................... 888,212 1220 Cash and cash equivalents, beginning of year...................................................... 47,621,068 9920 Cash and cash equivalents, end of year.......................................................... 48,509,280 2016 Actual 1 Cash and cash equivalents represented by: $ 1401 Cash.......................................................................... 48,509,280 1402 Temporary borrowings................................................................. 1403 Short term investments................................................................. 1404 Other................................................. 9940 Cash and cash equivalents, end of year......................................................... 48,509,280 1 Cash: $ 1501 Unrestricted....................................................................... 32,756,150 1502 Restricted........................................................................ 15,753,130 1503 Unallocated....................................................................... 9950 Cash and cash equivalents, end of year......................................................... 48,509,280 60
0Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:23 2016-V1.03 FIR2016: Cambridge C Schedule 60 Asmt Code: 3006 CONTINUITY OF RESERVES AND RESERVE FUNDS MAH Code: 25101 for the year ended December 31, 2016 Obligatory Res. Funds, Deferred Rev. Discretionary Res. Funds Reserves 1 2 3 $ $ $ 0299 Balance, beginning of year........................................ 28,583,426 55,314,465 7,987,814 0310 Allocation of Surplus............................................ 37,358,410 731,951 0315 Allocation of Surplus : for operating.................................... 25,681,863 731,951 0320 Allocation of Surplus : for capital..................................... 11,676,547 0 Development Charges Act 0610 Non-discounted services....................................... 4,731,791 0620 Discounted services......................................... 0630 Credits utilized (Development Charges Act) (SLC 61 0299 05).................... 0 0699 Subtotal Development Charges Act 4,731,791 0810 Lot levies................................................ 0820 Subdivider contributions......................................... 0830 Recreational land (the Planning Act)................................... 15,408 0841 Investment Income........................................... 44,331 1,210,130 0860 Gasoline Tax - Province......................................... 0861 Building Code Act, 1992 (Section 1.9.1.1 (d)).............................. 831,121 0862 Gasoline Tax - Federal......................................... 3,853,543 0864 Building Canada Fund (BCF)...................................... 0870 Inter - Reserve Fund / Reserves Transfer................................ 0895 Other...................... 0896 Other...................... 0897 Other...................... 0898 Other...................... 9940 TOTAL Revenues & Surplus 9,476,194 38,568,540 731,951 Less: Utilization of reserve funds and reserves (transfers) 1012 For acquisition of tangible capital asset................................. 26,529,064 1015 For current operations.......................................... 3,838,038 1,782,399 1025 Development Charges earned to tangible capital asset acquisition (SLC 61 0299 08).......... 1,383,496 1026 Development Charges earned to operations (SLC 61 0299 07)...................... 185,700 1032 Recreational land (the Planning Act) earned to tangible capital asset acquisition............ 55,072 1035 Recreational land (the Planning Act) earned to operations........................ 5,000 1042 Deferred revenue earned (Provincial Gas Tax) for Transit (Operations)................. 1045 Deferred revenue earned (Provincial Gas Tax) for Transit (Capital)................... 1047 Deferred revenue earned (Canada Gas Tax).............................. 6,083,795 1055 Development Charges Act - Credits Provided (SLC 61 0299 10).................... 0 1070 Inter - Reserve Fund / Reserves Transfer................................ 0910 Less: Utilization (deferred revenue recognized).......................... 7,713,063 30,367,102 1,782,399 2099 Balance, end of year............................................ 30,346,557 63,515,903 6,937,366 61
0Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:23 2016-V1.03 FIR2016: Cambridge C Schedule 60 Asmt Code: 3006 CONTINUITY OF RESERVES AND RESERVE FUNDS MAH Code: 25101 for the year ended December 31, 2016 Obligatory Res. Funds, Deferred Discretionary Res. Funds Reserves Totals in line 2099 are analysed as follows: Rev 1 2 3 $ $ $ 5010 Working funds.............................................. 5020 Contingencies.............................................. Asset Replacement funds for: Sewer & Water 5030 Sewer................................................. 5040 Water................................................. 5050 Replacement of equipment....................................... 4,867,382 5060 Sick leave................................................ 10,121,707 5070 Insurance................................................ 2,265,718 5080 Workplace Safety and Insurance Board (WSIB)............................. 2,417,133 5090 Post-employment benefits........................................ 5091 Tax rate stabilization........................................... 5630 Lot levies................................................ 5660 Parking revenues............................................ 24,080 5670 Debenture repayment.......................................... 5680 Exchange rate stabilization....................................... Per Service Purpose: 5205 General government......................................... 1,993,147 6,144,497 5210 Protection services.......................................... Transportation services: 5215 Roadways............................................. 6,569,803 5216 Winter Control........................................... 178,028 5220 Transit............................................... 5221 Parking.............................................. 5222 Street lighting........................................... 5223 Air transportation......................................... Environmental services: 5225 Wastewater system........................................ 15,380,554 5230 Storm water system........................................ 5235 Waterworks system........................................ 4,273,848 5240 Solid waste collection....................................... 5245 Solid waste disposal........................................ 5246 Waste diversion.......................................... 5250 Health services............................................ 544,812 5255 Social and family services...................................... 5260 Social housing............................................ Recreation and cultural services: 5265 Parks............................................... 5266 Recreation programs....................................... 5271 Recreation facilities - Golf Course, Marina, Ski Hill........................ 5274 Recreation facilities - All Other................................... 385,715 5275 Libraries.............................................. 661,815 5276 Museums............................................. 5277 Cultural services.......................................... 78,372 5280 Planning and development...................................... 10,892,485 232,889 5290 Other Infrastructure Renewal Fund etc...................... 2,861,304 559,980 Obligatory Deferred Revenue: 5610 Development Charges Act - Non-discounted services........................ 26,347,738 5620 Development Charges Act - Discounted services........................... 5640 Subdivider contributions....................................... 194,074 5650 Recreational land (the Planning Act)................................. -1,090,779 5661 Building Code Act, 1992 (Section 1.9.1.1 (d))............................. 1,254,632 5690 Gasoline Tax - Province....................................... 5691 Gasoline Tax - Federal........................................ 3,640,892 5692 Canada Transit Funding (Bill C-48).................................. 5693 Building Canada Fund (BCF)..................................... 5695 Other...................... 5696 Other...................... 5697 Other...................... 5698 Other...................... 5699 Other...................... 9930 TOTAL 30,346,557 63,515,903 6,937,366 62
ule Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:23 2016-V1.03 FIR2016: Cambridge C Schedule 61 Asmt Code: 3006 DEVELOPMENT CHARGES RESERVE FUNDS MAH Code: 25101 for the year ended December 31, 2016 Development Charges Proceeds Development Charges Disbursements Balance January 1 Development Charges Collected Interest and Investment Income Credits Utilized Total To: Consolidated To: Tangible Capital Statement of Operations Asset Acquisition Other Disbursements Credits Provided Total Balance December 31 1 2 3 5 6 7 8 9 10 11 12 Development Charges $ $ $ $ $ $ $ $ $ $ $ 0205 General Government.................. 112,526 36,129 1,128 37,257 0 149,783 0210 Fire Protection...................... 4,629,370 92,600 3,331 95,931 265,651 265,651 4,459,650 0215 Police Protection.................... 0 0 0 0 0220 Roads and Structures.................. 2,003,507 293,251 895 294,146 35,925 599,165 635,090 1,662,563 0225 Transit.......................... 0 0 0 0 0230 Wastewater....................... 1,513,901 367,334-3,882 363,452 35,925 35,925 1,841,428 0235 Stormwater....................... 1,782,439 164,304 2,531 166,835 35,925 97,519 133,444 1,815,830 0240 Water.......................... 4,010,482 90,973 33,514 124,487 35,925 35,925 4,099,044 0245 Emergency Medical Services.............. 0 0 0 0 0250 Homes for the Aged................... 0 0 0 0 0255 Daycare......................... 0 0 0 0 0260 Housing......................... 0 0 0 0 0265 Parkland Development.................. 663,851 626,077 7,640 633,717 42,000 28,205 70,205 1,227,363 0270 GO Transit........................ 0 0 0 0 0275 Library.......................... 969,126 517,965 11,098 529,063 87,300 87,300 1,410,889 0280 Recreation........................ 6,525,169 1,669,247-37,289 1,631,958 190,214 190,214 7,966,913 0285 Development Studies.................. 837,392 142,032 6,695 148,727 99,248 99,248 886,871 0286 Parking......................... -254,114 0 0-254,114 0287 Animal Control...................... 0 0 0 0 0288 Municipal Cemeteries.................. 0 0 0 0 0290 Other... Works Yard & Equipment 227,877 555,507 741 556,248 16,194 16,194 767,931 0295 Other... City Engineering 137,352 176,372-137 176,235 0 313,587 0296 Other... 0 0 0 0 0297 Other... 0 0 0 0 0299 TOTAL 23,158,878 4,731,791 26,265 0 4,758,056 185,700 1,383,496 0 0 1,569,196 26,347,738 63
16 F Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:23 2012-V01 FIR2016: Cambridge C Schedule 62 Asmt Code: 3006 DEVELOPMENT CHARGES RATES MAH Code: 25101 for the year ended December 31, 2016 Sq. Foot / Sq. Metre / Per Hectare / Per Other (Please specify) Service 1 Municipal Wide Charges RESIDENTIAL CHARGES ($) NON - RESIDENTIAL CHARGES ($) Apartments NON Res. Industrial Commercial Institutional Other Single Semi- < = > = Apartments residential per Other Other Detached Detached Other Multiples 1 Bedroom 2 Bedroom per unit unit 1 2 3 4 If Other, Please Specify > 5 6 Apartments per unit Sq. Foot / Sq. Metre / Per Hectar/ Per Other (Please Specify) 10 Sq. Foot / Sq. Metre / Per Hectar/ Per Other (Please Specify) 11 Sq. Foot / Sq. Metre/ Per Hectare/ Per Other (Please Specify) 12 Sq. Foot / Sq. Metre/ Per Hectare/ Per Other (Please Specify) 13 7 8 9 Other residential per unit If Other, Please Specify > 690 wastewater 1,180.12 1,901.53 6.66 630 stormwater 507.21 817.39 3.15 670 water 230.37 371.82 2.62 530 roads 443.56 714.34 12.89 110 administration studies 145.49 234.41 0.82 210 fire 22.23 36.37 0.18 490 public works 558.74 900.25 2.21 430 parks 704.23 1,134.65 0.00 290 indoor recreation services 1,878.29 3,025.07 0.00 310 library 582.99 938.64 0.00 230 general government 36.37 57.59 0.15 190 engineering 172.77 278.86 0.70 Other 14 Other 15 Other 16 9910 TOTAL MUNICIPAL WIDE CHARGES 0.00 0.00 0.00 0.00 0.00 6,462.37 10,410.92 0.00 0.00 29.38 0.00 0.00 0.00 0.00 0.00 0.00 1250 Are the rates being reported based on a new development charge by-law that was approved by council within the reporting year? If yes(y), please attach an electronic version of the new by-law. 64
-Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:30 2016-V1.03 FIR2016: Cambridge C Schedule 70 CONSOLIDATED STATEMENT OF FINANCIAL POSITION Asmt Code: 3006 MAH Code: 25101 for the year ended December 31, 2016 Financial Assets 1 $ 0299 Cash and cash equivalents...................................................................... 48,509,280 Accounts receivable 0410 Canada............................................................................... 974,713 0420 Ontario............................................................................... 0430 Upper-tier.............................................................................. 641,943 0440 Other municipalities......................................................................... 32,940 0450 School boards............................................................................ 3,109,272 0490 Other receivables.......................................................................... 9,988,239 0499 Subtotal 14,747,107 Taxes receivable 0610 Current year's levies........................................................................ 8,041,296 0620 Previous year's levies........................................................................ 3,323,403 0630 Prior year's levies.......................................................................... 7,000,157 0640 Penalties and interest........................................................................ 7,377,368 0690 LESS: Allowance for uncollectables................................................................ 6,705,529 0699 Subtotal 19,036,695 Investments * 0805 Canada............................................................................... 0810 Ontario............................................................................... 698,417 0815 Municipal.............................................................................. 1,995,180 0820 Government business enterprises................................................................. 79,236,333 0828 Other One Fund, Other............................................. 67,683,313 0829 Subtotal 149,613,243 Debt Recoverable from Others 0861 Municipalities (SLC 74 0630 01)................................................................... 0 0862 School Boards (SLC 74 0620 01).................................................................. 0 0863 Retirement Funds (SLC 74 0899 01)................................................................ 0 0864 Sinking Funds (SLC 74 1099 01).................................................................. 0 0865 Individuals.............................................................................. 0868 Other............................................. 0845 Subtotal 0 Other financial assets 0830 Inventories held for resale..................................................................... 0831 Land held for resale......................................................................... 13,940,682 0835 Notes receivable.......................................................................... 150,256 0840 Mortgages receivable........................................................................ 0850 Deferred taxes receivable...................................................................... 0890 Other............................................. 0898 Subtotal 14,090,938 9930 TOTAL Financial Assets 245,997,263 8010 * Market value of Investments included in Line 0829......................................................... 69,970,628 65
-Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:30 2016-V1.03 FIR2016: Cambridge C Schedule 70 CONSOLIDATED STATEMENT OF FINANCIAL POSITION Asmt Code: 3006 MAH Code: 25101 for the year ended December 31, 2016 Liabilities 1 Temporary loans $ 2010 Operating purposes......................................................................... Tangible Capital Assets: 2020 Canada............................................................................. 2030 Ontario.............................................................................. 2040 Other............................................................................... 2099 Subtotal 0 Accounts Payable 2210 Canada............................................................................... 33,970 2220 Ontario............................................................................... 129,442 2230 Upper-tier.............................................................................. 6,295,371 2240 Other municipalities......................................................................... 18,172 2250 School boards............................................................................ 144,079 2260 Interest on debt........................................................................... 2270 Trade accounts payable....................................................................... 6,510,924 2290 Other................................................................................ 7,397,599 2299 Subtotal 20,529,557 2301 Estimated Tax Liabilities (PS3510)................................................................... Deferred revenue 2410 Obligatory reserve funds (SLC 60 2099 01)............................................................ 30,346,557 2490 Other................................................................................ 7,893,933 2499 Subtotal 38,240,490 Long term liabilities 2610 Debt issued............................................................................. 2620 Debt payable to others....................................................................... 26,178,753 2630 Lease purchase agreements (Tangible capital leases)....................................................... 2640 Other............................................. 2650 Other............................................. 2660 LESS: Debt issued on behalf of Government Business Enterprise................................................ 2699 Subtotal 26,178,753 Solid Waste Management Facility Liabilities 2799 Solid waste landfill closure and post-closure............................................................ Post employment benefits 2810 Accumulated sick leave....................................................................... 6,101,176 2820 Accrued vacation pay........................................................................ 3,315,648 2830 Accrued pensions payable..................................................................... 54,911,377 2840 Accrued Workplace Safety and Insurance Board claims (WSIB)................................................. 2,390,980 2898 Other............................................. 2899 Subtotal post employment benefits 66,719,181 Liability for contaminated sites 2910 Remediation costs of contaminated sites.............................................................. 9940 TOTAL Liabilities 151,667,981 9945 Net Financial Assets / Net Debt (Total Financial Assets LESS Total Liabilities) 94,329,282 Non-Financial Assets 1 $ 6210 Tangible Capital Assets (SLC 51 9921 11)............................................................. 560,670,532 6250 Inventories of Supplies....................................................................... 533,012 6260 Prepaid Expenses......................................................................... 1,216,740 6299 Total Non-Financial Assets 562,420,284 9970 Total Accumulated Surplus/(Deficit) 656,749,566 Analysis of the Accumulated Surplus/(Deficit) 1 $ 6410 Equity in Tangible Capital Assets.................................................................. 560,670,532 6420 Reserves and Reserve Funds (SLC 60 2099 02 + SLC 60 2099 03)................................................ 70,453,269 6430 General Surplus/ (Deficit)...................................................................... 209,290 6431 Unexpended capital financing.................................................................... 21,743,958 Local boards 5030 Transit operations...................................................................... 5035 Water operations....................................................................... 5040 Wastewater operations.................................................................... 5041 Solid waste operations.................................................................... 5045 Libraries........................................................................... 4,083 5050 Cemeteries.......................................................................... 5055 Recreation, community centres and arenas......................................................... 5060 Business Improvement Area................................................................. 73,704 5076 Other Land Held for Resale............................................. 13,940,682 5077 Other............................................. 5078 Other............................................. 5079 Other............................................. 5098 Total Local Boards 14,018,469 5080 Equity in Government Business Enterprises (SLC 10 6090 01).................................................. 79,236,333
-Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:30 2016-V1.03 FIR2016: Cambridge C Schedule 70 CONSOLIDATED STATEMENT OF FINANCIAL POSITION Asmt Code: 3006 MAH Code: 25101 for the year ended December 31, 2016 6601 Unfunded Employee Benefits.................................................................... -63,403,532 6602 Unfunded Landfill closure costs................................................................... 6603 Unfunded Remediation costs of contaminated sites........................................................ 6610 Other Long Term Debt............................................. -26,178,753 6620 Other............................................. 6630 Other............................................. 6640 Other............................................. 6699 Total Other -89,582,285 9971 Total Accumulated Surplus/(Deficit) 656,749,566 67
d Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:30 2016-V1.03 FIR2016: Cambridge C Single/Lower-Tier ONLY Schedule 72 CONTINUITY OF TAXES RECEIVABLE Asmt Code: 3006 MAH Code: 25101 for the year ended December 31, 2016 Continuity of Taxes Receivable 9 $ 0210 Taxes receivable, beginning of year.......................................................... 18,787,087 0215 PLUS: Amounts added to tax bills for collection purposes only.......................................... 2,496,174 0220 PLUS: Tax amounts levied in the year (SLC 26 9199 03)............................................. 259,710,383 0225 PLUS: Current Year Penalties and Interest..................................................... 2,957,432 0240 LESS: Total cash collections (SLC 72 0699 09).................................................. 259,368,735 0250 LESS: Tax adjustments before allowances (SLC 72 2899 09)........................................... 5,900,565 0260 LESS: Tax adjustments not applied to taxation (SLC 72 4999 09)........................................ -354,919 0280 PLUS:.............................................. 0290 Taxes receivable, end of year.............................................................. 19,036,695 Cash Collections 9 $ 0610 Current year's tax.................................................................... 250,084,981 0620 Previous year's tax.................................................................... 9,719,823 0630 Penalties and interest.................................................................. 2,369,943 0640 Amounts added to tax bills for collection purposes only................................................ 3,282,931 0690 Other Refund Payments.............................................. -6,088,943 0699 TOTAL Cash Collections 259,368,735 68
d Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:30 2016-V1.03 FIR2016: Cambridge C Single/Lower-Tier ONLY Schedule 72 CONTINUITY OF TAXES RECEIVABLE Asmt Code: 3006 MAH Code: 25101 for the year ended December 31, 2016 SCHOOL BOARDS English - Public French - Public English - Separate French - Separate Other TOTAL Education Lower-Tier (Single- TOTAL Tax Upper-Tier Tier) Adjustment Tax Adjustments Applied to Taxation 1 2 3 4 5 6 7 8 9 $ $ $ $ $ $ $ $ $ 1099 Municipal Act (353, 354, 357, 358, RfR).............. 1,616,654 6,804 459,765 17,949 2,101,172 713,775 1,771,943 4,586,890 1299 Discounts for Advance Payments (Mun. Act 345(10))....... 0 1499 Tax Credit (Mun. Act 474.3).................... 0 1699 Tax Cancellation - Low income seniors and Disabled persons (Mu 0 1810 Rebates to Commercial properties (Mun. Act 362)......... 217,401 774 58,253 2,998 279,426 175,760 254,425 709,611 1820 Rebates to Industrial properties (Mun. Act 362).......... 136,181 887 64,731 1,931 203,730 104,431 149,818 457,979 1899 Subtotal 353,582 1,661 122,984 4,929 0 483,156 280,191 404,243 1,167,590 2099 Rebates for Charities (Mun. Act 361)................ 44,275 207 15,554 662 60,698 34,910 50,477 146,085 2299 Vacant Unit Rebates (Mun. Act 364)................ 0 2399 Reduction for Heritage Property (Mun. Act 365.2)......... 0 2890 Other 0 2891 Other 0 2892 Other 0 2893 Other 0 2899 Tax adjustments before allowances 2,014,511 8,672 598,303 23,540 0 2,645,026 1,028,876 2,226,663 5,900,565 0 0 0 0 0 0 0 SCHOOL BOARDS English - Public French - Public English - Separate French - Separate Other TOTAL Education Lower-Tier (Single- TOTAL Tax Upper-Tier Tier) Adjustment Tax Adjustments Not Applied to Taxation 1 2 3 4 5 6 7 8 9 $ $ $ $ $ $ $ $ $ 4010 Tax sale, Tax registration accounts................ 0 4210 Tax Deferral - Low income seniors and Disabled persons (Mun. Ac 0 0 4420 Net Impact of 5% Capping Limit Program............. 0 0 4890 Other Capping 63,705 273 22,579 850 87,407 50,907 74,096 212,410 4891 Other Miscellaneous Revenue 0-567,329-567,329 4999 Tax Adjustments Not Applied to Taxation 63,705 273 22,579 850 0 87,407-516,422 74,096-354,919 Additional Information 6010 Recovery of Tax Deferrals..................... 0 0 7010 Entitlement of School Boards.................... 47,440,303 210,071 15,527,646 645,389 0 63,823,410 69
7Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:30 2016-V1.03 FIR2016: Cambridge C Schedule 74 Asmt Code: 3006 LONG TERM LIABILITIES AND COMMITMENTS MAH Code: 25101 for the year ended December 31, 2016 1. Debt burden of the municipality All outstanding debt issued by the municipality, predecessor municipalities and consolidated entities $ 0210 To Ontario and agencies........................................................... 0220 To Canada and agencies........................................................... 0230 To Others................................................................... 0297 Other......................................... 0298 Other......................................... 0299 Subtotal 0 0499 PLUS: All debt assumed by the municipality from others............................................ 26,178,753 LESS: All debt assumed by others 0610 Ontario.................................................................... 0620 School boards................................................................. 0630 Other Municipalities.............................................................. 0640 Government Business Enterprises...................................................... 0697 Other......................................... 0698 Other......................................... 0699 Subtotal 0 LESS: Debt retirement funds 0810 Sewer..................................................................... 0820 Water..................................................................... 0896 Other......................................... 0897 Other......................................... 0898 Other......................................... 0899 Subtotal 0 LESS: Own sinking funds (Actual balances) 1010 General municipal............................................................... 1020 Enterprises and others............................................................ 1096 Other......................................... 1097 Other......................................... 1098 Other......................................... 1099 Subtotal 0 9910 TOTAL Net Long Term Liabilities of the Municipality 26,178,753 2. Debt burden of the municipality: Analysed by debt instrument 1210 Sinking fund debentures............................................................. 1220 Installment (serial) debentures.......................................................... 26,178,753 1230 Long term bank loans.............................................................. 1240 Lease purchase agreements (Tangible capital leases)............................................. 1250 Mortgages.................................................................... 1280 Construction Financing Debentures....................................................... 1297 Other......................................... 1298 Other......................................... 9920 TOTAL Net Long Term Liabilities of the Municipality 26,178,753 3. Debt burden of the municipality: Analysed by function 1405 General government............................................................... 6,500,000 1410 Protection services................................................................ Transportation services: 1415 Roadways................................................................... 4,290,865 1416 Winter Control................................................................. 1420 Transit..................................................................... 1421 Parking.................................................................... 1,609,438 1422 Street Lighting................................................................. 1423 Air Transportation............................................................... Environmental services: 1425 Wastewater system.............................................................. 1430 Storm water system.............................................................. 1435 Waterworks system.............................................................. 7,651,246 1440 Solid Waste collection............................................................. 1445 Solid Waste disposal............................................................. 1446 Waste diversion................................................................ 1450 Health services.................................................................. 1455 Social and family services............................................................ 1460 Social housing.................................................................. Recreation and cultural services: 1465 Parks..................................................................... 498,699 1466 Recreation programs............................................................. 1471 Recreation facilities - Golf Course, Marina, Ski Hill.............................................. 1474 Recreation facilities - All Other........................................................ 5,215,505 1475 Libraries.................................................................... 1476 Museums................................................................... 413,000 1477 Cultural services................................................................ 1480 Planning and development............................................................ 1490 Other long term liabilities............................................................. 9930 TOTAL Net Long Term Liabilities of the Municipality 26,178,753 1
7Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:30 2016-V1.03 FIR2016: Cambridge C Schedule 74 Asmt Code: 3006 LONG TERM LIABILITIES AND COMMITMENTS MAH Code: 25101 for the year ended December 31, 2016 Contingent Liabilities Is Value in Column 2 Estimated? Value Number of Years Payable Over 8. Contingent liabilities 4 1 2 3 Y or N Y or N $ Years 2610 Pending or threatened litigation....................................... 2620 Retroactive wage settlements........................................ 2630 Guarantees of long term indebtedness in the name of the municipality but assumed by others....... 2640 Outstanding loans guaranteed....................................... 2698 Other............................... 2699 TOTAL 0 Principal Interest Total 10. Debt Charges for the current year 1 2 3 Recovered from the Consolidated Statement of Operations $ $ $ 3012 General Tax Rates............................................ 2,781,402 591,671 3014 Other.................................................. 3015 Tile Drainage/Shoreline Assistance................................... 3020 Recovered from reserve funds....................................... Recovered from unconsolidated entities: 3030 Electricity................................................ 3040 Gas................................................... 3050 Telephone................................................ 3097 Other............................... 3098 Other............................... 3099 TOTAL 2,781,402 591,671 Line 3099 includes: 3110 Lump sum (balloon) repayments of long term debt............................ 3120 Provincial Grant funding for repayment of long term debt........................ Analysis of Lease Purchase Agreements (Tangible Capital Leases) 3140 Debt charges for Lease purchase agreements (Tangible capital leases)................. 0 Principal Interest 11. Long term debt refinanced 1 2 $ $ 3410 Repayment of Provincial Special Assistance................................ 3420 Other long term debt refinanced...................................... 71
74Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:30 2016-V1.03 FIR2016: Cambridge C Schedule 74 LONG TERM LIABILITIES AND COMMITMENTS Asmt Code: 3006 MAH Code: 25101 for the year ended December 31, 2016 12. Future principal and Interest payments on EXISTING debt RECOVERABLE FROM: Consolidated Statement of Operations Reserve Funds Unconsolidated Entities All Others Principal Interest Principal Interest Principal Interest Principal Interest 1 2 3 4 5 6 7 8 $ $ $ $ $ $ $ $ 3210 Year 2017............ 3,521,991 656,380 3220 Year 2018............ 3,596,939 579,175 3230 Year 2019............ 3,678,468 491,875 3240 Year 2020............ 3,766,355 395,540 3250 Year 2021............ 2,578,000 288,535 3260 Years 2022 to 2026....... 9,037,000 894,601 3270 Years 2027 onwards...... 3280 Int. to be earned on sink. funds. 3299 TOTAL 26,178,753 3,306,106 0 0 0 0 0 0 3601 13. Other notes Please list all Other Notes and forward supporting schedules as required by email to: FIR.mah@ontario.ca * Use ALT + ENTER Keys to "Return" to the next line. 72
dul Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:30 2016-V1.03 FIR2016: Cambridge C Schedule 76 GOVERNMENT BUSINESS ENTERPRISES Asmt Code: 3006 MAH Code: 25101 for the year ended December 31, 2016 GOVERNMENT BUSINESS ENTERPRISES Please Specify GBE STATEMENT OF FINANCIAL POSITION Energy Plus Total 1 2 3 4 5 20 Assets $ $ $ $ $ $ 0210 Current.............................. 57,846,000 57,846,000 0220 Capital.............................. 152,640,000 152,640,000 0297 Other............................... 19,034,000 19,034,000 0298 Other Regulatory Assets.......... 9,212,000 9,212,000 0299 Total Assets 238,732,000 0 0 0 0 238,732,000 Liabilities 0410 Current.............................. 40,771,000 40,771,000 0420 Long-term............................. 86,790,000 86,790,000 0497 Other............................... 13,752,000 13,752,000 0498 Other.......... 0 0499 Total Liabilities 141,313,000 0 0 0 0 141,313,000 9910 Net Equity 97,419,000 0 0 0 0 97,419,000 0610 Municipality's Share 79,236,393 79,236,393 STATEMENT OF OPERATIONS 0810 Revenues............................. 254,938,000 254,938,000 0820 Expenses............................. 250,426,000 250,426,000 9920 Net Income (Loss) 4,512,000 0 0 0 0 4,512,000 1010 Municipality's Share 5,903,610 5,903,610 1020 Dividends paid 2,765,000 2,765,000 73
ScProvince of Ontario - Ministry of Municipal Affairs 09.05.2017 16:30 2016-V1.03 FIR2016: Cambridge C Schedule 80 Asmt Code: 3006 STATISTICAL INFORMATION MAH Code: 25101 for the year ended December 31, 2016 Full-Time Funded Part-Time Funded Positions Positions Seasonal Employees 1. Municipal workforce profile 1 2 3 Employees of the Municipality # # # 0205 Administration.......................................................... 126.00 29.00 4.00 0210 Fire............................................................... 134.00 0.00 0.00 0211 Uniform............................................................ 134.00 0.00 0.00 0212 Civilian............................................................ 0215 Police.............................................................. 0.00 0.00 0.00 0216 Uniform............................................................ 0217 Civilian............................................................ 0260 Court Security.......................................................... 0.00 0.00 0.00 0261 Uniform............................................................ 0262 Civilian............................................................ 0263 Prisoner Transportation..................................................... 0.00 0.00 0.00 0264 Uniform............................................................ 0265 Civilian............................................................ 0220 Transit.............................................................. 0225 Public Works.......................................................... 167.00 64.00 7.00 0227 Ambulance........................................................... 0.00 0.00 0.00 0228 Uniform............................................................ 0229 Civilian............................................................ 0230 Health Services......................................................... 10.00 1.00 11.00 0235 Homes for the Aged....................................................... 0240 Other Social Services...................................................... 0245 Parks and Recreation...................................................... 89.00 312.00 155.00 0250 Libraries............................................................. 44.00 45.00 32.00 0255 Planning............................................................. 14.00 0.00 0.00 0290 Other.............................................................. 25.00 1.00 0.00 0298 Subtotal 609.00 452.00 209.00 0300 Proportion of Munic. Empl. covered by 'Collective Agreements' (%)................................ 68% 10% 41% Employees of Joint Local Boards 0305 Administration.......................................................... 0310 Fire............................................................... 0.00 0.00 0.00 0311 Uniform............................................................ 0312 Civilian............................................................ 0315 Police.............................................................. 0.00 0.00 0.00 0316 Uniform............................................................ 0317 Civilian............................................................ 0360 Court Security.......................................................... 0.00 0.00 0.00 0361 Uniform............................................................ 0362 Civilian............................................................ 0363 Prisoner Transportation..................................................... 0.00 0.00 0.00 0364 Uniform............................................................ 0365 Civilian............................................................ 0320 Transit.............................................................. 0325 Public Works.......................................................... 0327 Ambulance........................................................... 0.00 0.00 0.00 0328 Uniform............................................................ 0329 Civilian............................................................ 0330 Health Services......................................................... 0335 Homes for the Aged....................................................... 0340 Other Social Services...................................................... 0345 Parks and Recreation...................................................... 0350 Libraries............................................................. 0355 Planning............................................................. 0390 Other.............................................................. 0398 Subtotal 0.00 0.00 0.00 0399 TOTAL 609.00 452.00 209.00 74
ScProvince of Ontario - Ministry of Municipal Affairs 09.05.2017 16:30 2016-V1.03 FIR2016: Cambridge C Schedule 80 Asmt Code: 3006 STATISTICAL INFORMATION MAH Code: 25101 for the year ended December 31, 2016 Own Municipality Other Munic., School Boards Provincial Federal 2. Selected investments of own sinking funds as at Dec. 31 1 2 3 4 $ $ $ $ 0610 Own sinking funds......................................................... Number of Contracts Value of Contracts 3. Municipal procurement this year 1 2 # $ 1010 Total construction contracts awarded................................................ 174 17,769,660 1020 Construction contracts awarded at $100,000 or greater...................................... 19 16,380,035 Number of Building Permits Total Value of Building Permits 4. Building permit information 1 2 # $ 1210 Residential properties....................................................... 386 122,312,378 1220 Multi-Residential properties.................................................... 12 56,607,900 1230 All other property classes...................................................... 961 177,496,950 1299 Subtotal 1,359 356,417,228 5. Insured value of physical assets 1 $ 1410 Buildings.............................................................. 196,787,617 1420 Machinery and equipment..................................................... 13,913,881 1430 Vehicles.............................................................. 18,163,002 1497 Other Data Processing............................................ 7,317,673 1498 Other Fine Arts............................................ 810,445 1499 Subtotal 236,992,618 6. Total Dollar Losses due to Structural Fires 1 $ 1510 Losses due to structural fires, averaged over 3 yrs (2014-2016)................................. 7,921,167 75
ScProvince of Ontario - Ministry of Municipal Affairs 09.05.2017 16:34 2016-V1.03 FIR2016: Cambridge C Schedule 80 STATISTICAL INFORMATION Asmt Code: 3006 MAH Code: 25101 for the year ended December 31, 2016 8. Consolidated Local boards including Joint local boards and all local entities set up by the municipality 0801 0802 0803 0804 0805 0806 0807 0808 0809 0810 0811 0812 0813 0814 0815 0816 0817 0818 0819 0820 0821 0822 0823 0824 0825 0826 0827 0828 0829 0830 0831 0832 0833 0834 0835 0836 0837 0838 0839 0840 0841 0842 0843 0844 0845 0846 0847 0848 0849 (I) PROPORTIONALLY CONSOLIDATED joint local boards Name of Board or Entity Board Description Board Code Proportion of Total Munic. Contributions Consolidated Municipality's Share of Total Contributions Municipality's Share of Total Fee Revenues 1 3 2 4 5 6 LIST % $ $ 76
ScProvince of Ontario - Ministry of Municipal Affairs 09.05.2017 16:34 2016-V1.03 FIR2016: Cambridge C Schedule 80 STATISTICAL INFORMATION Asmt Code: 3006 MAH Code: 25101 for the year ended December 31, 2016 (II) FULLY CONSOLIDATED local boards and any local entities set up by the municipality Name of Board or Entity Board Description Board Code Proportion of Total Munic. Contributions Consolidated Municipality's Share of Total Contributions Municipality's Share of Total Fee Revenues 1 3 2 4 5 6 LIST % $ $ 0851 The Cambridge Library Library Board 1604 100% 0852 Downtown Cambridge BIA Business Improvement Area 1805 100% 0853 Preston Towne BIA Business Improvement Area 1805 100% 0854 Hespeler Village BIA Business Improvement Area 1805 100% 0855 100% 0856 100% 0857 100% 0858 100% 0859 100% 0860 100% 0861 100% 0862 100% 0863 100% 0864 100% 0865 100% 0866 100% 0867 100% 0868 100% 0869 100% 0870 100% 0871 100% 0872 100% 0873 100% 0874 100% 0875 100% 0876 100% 0877 100% 0878 100% 0879 100% 0880 100% 0881 100% 0882 100% 0883 100% 0884 100% 0885 100% 0886 100% 0887 100% 0888 100% 0889 100% 0890 100% 0891 100% 0892 100% 0893 100% 0894 100% 0895 100% 0896 100% 0897 100% 0898 100% 0899 100% 77
Sc Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:35 2016-V1.03 FIR2016: Cambridge C Schedule 80 Asmt Code: 3006 STATISTICAL INFORMATION MAH Code: 25101 for the year ended December 31, 2016 Column Column Column Description 9. Building Permit Information (Performance Measures) 1 2 3 4 # # # LIST 1300 What method does your municipality use to determine total construction value?....................................... Other Method (Please describe below) 1302 If "Other Method" is selected in line 1300, please describe the method used to determine total construction value..................... Construction Value Index Standard il d b th W t l R i B ildi Total Value of Construction Activity $ 1304 Total Value of Construction Activity for 2016 based on permits issued............................................. 356,417,228 Median Number Review of Complete Building Permit Applications: Median number of working days to review a complete building of Working Days permit application and issue a permit or not issue a permit, and provide all reasons for refusal (by Category): 1 # 1306 Category 1 : Houses (houses not exceeding 3 storeys/600 square metres)....................................... 11 Reference : provincial standard is 10 working days 1308 Category 2 : Small Buildings (small commercial/industrial not exceeding 3 storeys/600 square metres)....................... 13 Reference : provincial standard is 15 working days 1310 Category 3 : Large Buildings (large residential/commercial/industrial/institutional).................................. 16 Reference : provincial standard is 20 working days 1312 Category 4 : Complex Buildings (post disaster buildings, including hospitals, power/water, 18 fire/police/ems), communications....................................................... Note : If no complete applications were submitted and accepted for a Category on lines 1306 to 1312, please leave the cell blank and do not enter zero. 1 Number of Complete Applications Number of Incomplete Applications Total Number of Complete and Incomplete Applications 1 2 3 Number Of Building Permit Applications # # # 1314 Category 1 : Houses (houses not exceeding 3 storeys/600 square metres)....................................... 1,064 0 1,064 1316 Category 2 : Small Buildings (small commercial/industrial not exceeding 3 storeys/600 square metres)....................... 35 0 35 1318 Category 3 : Large Buildings (large residential/ commercial/ industrial/ institutional)................................. 257 0 257 Category 4 : Complex Buildings (post disaster buildings, including hospitals, power/water, 1320 fire/police/ems), communications....................................................... 3 0 3 1322 Subtotal 1,359 0 1,359 Note: Zero should be entered on lines 1314 to 1320 in column 1 if no complete applications were submitted and accepted for a category. Zero should be entered in column 2 if no incomplete applications were submitted and accepted for a category. Residential Units within Settlement Areas Total Residential Units 10. Planning and Development 1 2 Land Use Planning (using building permit information) # # 1350 Number of residential units in new detached houses..................................................... 298 298 1352 Number of residential units in new semi-detached houses.................................................. 4 4 1354 Number of residential units in new row houses........................................................ 203 203 1356 Number of residential units in new apartments/condo apartments.............................................. 265 265
Sc Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:35 2016-V1.03 FIR2016: Cambridge C Schedule 80 Asmt Code: 3006 STATISTICAL INFORMATION MAH Code: 25101 for the year ended December 31, 2016 1358 Subtotal 770 770 Hectares 1 Land Designated for Agricultural Purposes # 1370 Hectares of land designated for agricultural purposes in the Official Plan as of December 31, 2016............................. 1,109 79
Sc Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:35 2016-V1.03 FIR2016: Cambridge C Schedule 80 Asmt Code: 3006 STATISTICAL INFORMATION MAH Code: 25101 for the year ended December 31, 2016 11. Transportation Services 1 # 1710 Roads : Total Paved Lane Km................................................................. 995 1720 Condition of Roads : Number of paved lane kilometres where the condition is rated as good to very good.......................... 710 Column Column Column Description 1 2 3 4 # # # LIST 1722 Has the entire municipal road system been rated?....................................................... Y 1725 Indicate the rating system used and the year the rating was conducted........................................... PCI (1 to 10 rating), 2015 1730 Roads : Total UnPaved Lane Km............................................................... 0 1740 Winter Control : Total Lane Km maintained in winter..................................................... 995 1750 Transit : Total Number of Regular Service Passenger Trips on Conventional Transit in Service Area............................ 0 1755 Transit : Population of Service Area.............................................................. 0 1760 Bridges and Culverts : Total Square Metres of Surface Area on Bridges and Culverts.................................... 10,962 Number of structures where the condition of primary components is rated as good to very good, requiring only repair Total Number 1 2 Rating Of Bridges And Culverts # # 1765 Bridges............................................................................. 29 29 1766 Culverts............................................................................ 14 14 1767 Subtotal 43 43 Column Column Column Description 1 2 3 4 # # # LIST 1768 Have all bridges and culverts in the municipal system been rated?.............................................. 1769 Indicate the rating system used and the year the rating was conducted............................................ OSIM, 2015-2016 12. Environmental Services 1 # 1810 Wastewater Main Backups : Total number of backed up wastewater mains......................................... 13 1815 Wastewater Collection/Conveyance : Total KM of Wastewater Mains............................................. 520 1820 Wastewater Treatment and Disposal : Total Megalitres of Wastewater Treated....................................... 17,891.695 1825 Wastewater Bypasses Treatment : Estimated megalitres of untreated wastewater...................................... 0.000 1835 Urban Storm Water Management : Total KM of Urban Drainage System plus (0.005 KM times No. of Catch basins).................... 411 1840 Rural Storm Water Management : Total KM of Rural Drainage System plus (0.005 KM times No. of Catch basins)...................... 0 1845 Water Treatment : Total Megalitres of Drinking Water Treated................................................. 15,414.213 1850 Water Main Breaks : Number of water main breaks in a year................................................. 30 1855 Water Distribution/Transmission : Total kilometres of Water Distribution / Transmission Pipe................................. 519 1860 Solid Waste Collection : Total tonnes collected from all property classes........................................... 0 1865 Solid Waste Disposal : Total tonnes disposed off from all property classes.......................................... 0 1870 Waste Diversion : Total tonnes diverted from all property classes.............................................. 0
Sc Province of Ontario - Ministry of Municipal Affairs 09.05.2017 16:35 2016-V1.03 FIR2016: Cambridge C Schedule 80 Asmt Code: 3006 STATISTICAL INFORMATION MAH Code: 25101 for the year ended December 31, 2016 13. Recreation Services 1 1910 Trails : Total kilometres of trails (owned by municipality and third parties)........................................... 73 1920 Indoor recreation facility space : Square metres of indoor recreation facilities (municipally owned).............................. 49,202 1930 Outdoor recreation facility space : Square metres of outdoor recreation facility space (municipally owned).......................... 3,057 # 14. Other Revenue (Used for the calculation of Operating Cost) $ 2310 Fire Services: Other revenue.................................................................. 2320 Paved Roads : Other revenue................................................................. 2330 Solid Waste Disposal : Other revenue............................................................. 2340 Waste Diversion : Other Revenue............................................................... 2370 Assessment on Exempt Properties (Enter data from returned roll).............................................. 639,675,500 1 81
hedprovince of Ontario - Ministry of Municipal Affairs 02.06.2017 11:31 2016-V1.03 FIR2016: Cambridge C Schedule 81 Asmt Code: 3006 ANNUAL DEBT REPAYMENT LIMIT MAH Code: 25101 based on the information reported for the year ended December 31, 2016 NOTE: THE ESTIMATED ANNUAL REPAYMENT LIMIT IS EFFECTIVE JANUARY 01, 2018 Please note that fees and revenues for Homes for the Aged are not reflected in this estimate. DETERMINATION OF ANNUAL DEBT REPAYMENT LIMIT 1 Debt Charges for the Current Year $ 0210 Principal (SLC 74 3099 01)................................................................ 2,781,402 0220 Interest (SLC 74 3099 02)................................................................ 591,671 0299 Subtotal 3,373,073 0610 Payments for Long Term Commitments and Liabilities financed from the consolidated statement of operations (SLC 42 6010 01)................................................................ 0 9910 Total Debt Charges 3,373,073 1 Excluded Debt Charges $ 1010 Electricity - Principal (SLC 74 3030 01)........................................................ 0 1020 Electricity - Interest (SLC 74 3030 02)......................................................... 0 1030 Gas - Principal (SLC 74 3040 01)........................................................... 0 1040 Gas - Interest (SLC 74 3040 02)............................................................ 0 1050 Telephone - Principal (SLC 74 3050 01)......................................................... 0 1060 Telephone - Interest (SLC 74 3050 02)......................................................... 0 1099 Subtotal 0 1410 Debt Charges for Tile Drainage/Shoreline Assistance (SLC 74 3015 01 + SLC 74 3015 02)................................ 0 1411 Provincial Grant funding for repayment of long term debt (SLC 74 3120 01 + SLC 74 3120 02).............................. 0 1412 Lump sum (balloon) repayments of long term debt (SLC 74 3110 01 + SLC 74 3110 02).................................. 0 1420 Total Debt Charges to be Excluded 0 9920 Net Debt Charges 3,373,073 1 $ 1610 Total Revenues (* Sale of Hydro Utilities Removed) (SLC 10 9910 01).......................................... 194,168,084 Excluded Revenue Amounts 2010 Fees for Tile Drainage / Shoreline Assistance (SLC 12 1850 04)............................................. 0 2210 Ontario Grants, including Grants for Tangible Capital Assets (SLC 10 0699 01 + SLC 10 0810 01 + SLC10 0815 01)................. 1,457,149 2220 Canada Grants, including Grants for Tangible Capital Assets (SLC 10 0820 01 + SLC 10 0825 01)........................... 115,557 2225 Deferred revenue earned (Provincial Gas Tax) (SLC 10 0830 01)............................................ 0 2226 Deferred revenue earned (Canada Gas Tax) (SLC 10 0831 01)............................................. 6,083,795 2230 Revenue from other municipalities, including Revenue for Tangible Capital Assets (SLC 10 1099 01 + SLC 10 1098 01)................ 2,850,311 2240 Gain/Loss on sale of land & capital assets (SLC 10 1811 01).............................................. 21,803 2250 Deferred revenue earned (Development Charges) (SLC 10 1812 01).......................................... 1,569,196 2251 Deferred revenue earned (Recreation Land (The Planning Act)) (SLC 10 1813 01)................................... 60,072 2253 Other Deferred revenue earned (SLC 10 1814 01)..................................................... 0 2252 Donated Tangible Capital Assets (SLC 53 0610 01)................................................... 15,990,209 2254 Increase / Decrease in Government Business Enterprise equity (SLC 10 1905 01)................................... 3,356,371 2299 Subtotal 31,504,463 2410 Fees and Revenue for Joint Local Boards for Homes for the Aged............................................ 2610 Net Revenues 162,663,621 2620 25% of Net Revenues 40,665,905 9930 ESTIMATED ANNUAL REPAYMENT LIMIT 37,292,832 For Illustration Purposes Only Annual Interest Rate Term @ years = 82
THE CAMBRIDGE PUBLIC LIBRARY BOARD CARRYING ON BUSINESS AS IDEA EXCHANGE FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016 83
THE CAMBRIDGE PUBLIC LIBRARY BOARD INDEX December 31, 2016 PAGE NUMBER Management Responsibility for Financial Reporting 1 Independent Auditors' Report 2 Statement of Operations 3 Financial Position 4 Statement of Changes in Net Financial Assets 5 Statement of Cash Flows 6 Explanatory Financial Notes 7-13 Functional Operating Summary 14 Directory 15-16 84
THE CAMBRIDGE PUBLIC LIBRARY BOARD 1 MANAGEMENT RESPONSIBILITY FOR FINANCIAL REPORTING DECEMBER 31, 2016 The accompanying financial statements and all other information contained in this annual report are the responsibility of the management of The Cambridge Public Library Board. The financial statements have been prepared and presented by management in accordance with Canadian public sector accounting standards and have been approved by the Board of Trustees. Preparation of financial information is an integral part of management's broader responsibilities for the ongoing operations of The Cambridge Public Library Board. Management maintains a system of internal accounting and administration controls which are designed to provide reasonable assurance that transactions are accurately recorded on a timely basis, are properly approved and result in reliable financial information. Such information also includes data based on management's best estimates and judgements. Management has determined that the enclosed financial statements are presented fairly and on a consistent basis with prior years, in all material respects. The Board of Trustees review and approve the annual financial statements and also review the annual report in its entirety. The accompanying financial statements have been audited by the external auditors, Graham Mathew Professional Corporation, Chartered Professional Accountants authorized to practise public accounting by the Chartered Professional Accountants of Ontario, in accordance with Canadian generally accepted auditing standards. The external auditors have full and free access to management and the Board of Trustees. _ Mr. Gary Price Chair Ms. Helen Kelly Chief Executive Officer 85
INDEPENDENT AUDITORS' REPORT To the Board Members Members of Council, Inhabitants and Ratepayers of The Corporation of The City of Cambridge We have audited the accompanying financial statements of The Cambridge Public Library Board, which comprise the statement of financial position as at December 31, 2016, and the statements of operations, changes in net financial assets and cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with Canadian public sector accounting standards, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors Responsibility 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 comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on our judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements present fairly, in all material respects, the financial position of The Cambridge Public Library Board as at December 31, 2016, and the results of its operations for the year then ended in accordance with Canadian public sector accounting standards. Cambridge, Ontario March 22, 2017 Chartered Professional Accountants, authorized to practise public accounting by the Chartered Professional Accountants of Ontario 86
THE CAMBRIDGE PUBLIC LIBRARY BOARD STATEMENT OF OPERATIONS For the year ended December 31, 2016 3 Library Gallery 2016 2015 $ $ $ $ REVENUE Municipal operating contribution (note 3) 5,642,300 564,100 6,206,400 5,944,400 Federal / provincial supports grants (note 8) 161,464 138,500 299,964 303,464 Contributions toward capital expenditures 369,081 NIL 369,081 389,871 Other revenue 421,416 112,114 533,530 514,683 Total revenue 6,594,261 814,714 7,408,975 7,152,418 EXPENDITURE Personnel costs Salaries 3,757,215 369,974 4,127,189 4,115,082 Benefits 807,994 77,354 885,348 880,095 4,565,209 447,328 5,012,537 4,995,177 Library materials Materials and processing 488,099 NIL 488,099 501,013 Audio visual 60,878 NIL 60,878 61,408 Periodicals 51,202 NIL 51,202 44,457 600,179 NIL 600,179 606,878 Facilities Building and equipment maintenance 550,336 7,340 557,676 369,151 Utilities 202,904 2,876 205,780 194,207 Other 64,110 NIL 64,110 35,428 817,350 10,216 827,566 598,786 Administrative Advertising and supplies 66,067 40,846 106,913 106,609 Other 105,916 NIL 105,916 97,674 171,983 40,846 212,829 204,283 Capital expenditures Major projects 272,081 NIL 272,081 294,871 Materials development (note 11) 97,000 NIL 97,000 95,000 369,081 NIL 369,081 389,871 Exhibitions and programs 32,249 152,840 185,089 191,902 Other operating expenses 33,320 164,291 197,611 158,732 Total expenditure 6,589,371 815,521 7,404,892 7,145,629 Excess of revenue over expenditure (expenditure over revenue) for year 4,890 (807) 4,083 6,789 Fund balance at beginning of year 6,789 NIL 6,789 6,856 Transfer to operations during year (6,789) NIL (6,789) (6,856) Fund balance at end of year 4,890 (807) 4,083 6,789 The explanatory financial notes on pages 7 through 13 form an integral part of these financial statements. 87
THE CAMBRIDGE PUBLIC LIBRARY BOARD FINANCIAL POSITION As at December 31, 2016 4 FINANCIAL ASSETS Library Gallery 2016 2015 $ $ $ $ Cash 47,405 5,658 53,063 209,978 Accounts receivable 47,971 4,900 52,871 55,850 Receivable from the City of Cambridge 103,098 162,625 265,723 157,661 FINANCIAL LIABILITIES 198,474 173,183 371,657 423,489 Accounts payable and accrued liabilities 231,370 36,398 267,768 230,931 Deferred revenue 25,103 141,752 166,855 190,311 Payable to the City of Cambridge NIL NIL NIL 65,682 Liability for 27th pay (note 12) 9,900 1,100 11,000 NIL 266,373 179,250 445,623 486,924 NET FINANCIAL ASSETS (67,899) (6,067) (73,966) (63,435) NON-FINANCIAL ASSETS Prepaid expenses 72,789 5,260 78,049 70,224 Operating reserve funds (note 4) 626,461 35,354 661,815 564,033 Capital reserve fund (note 4) 1,190,708 132,301 1,323,009 875,637 1,889,958 172,915 2,062,873 1,509,894 ACCUMULATED SURPLUS Reserve funds (note 4) 1,817,169 167,655 1,984,824 1,439,670 Operating fund balance 4,890 (807) 4,083 6,789 NET ASSETS 1,822,059 166,848 1,988,907 1,446,459 APPROVED ON BEHALF OF THE BOARD Board Member Board Member The explanatory financial notes on pages 7 through 13 form an integral part of these financial statements. 88
THE CAMBRIDGE PUBLIC LIBRARY BOARD STATEMENT OF CHANGES IN NET FINANCIAL ASSETS For the year ended December 31, 2016 5 Budget Library Gallery 2016 2015 $ $ $ $ $ Excess of revenue over expenditure (expenditure over revenue) for year NIL 4,890 (807) 4,083 6,789 Decrease (increase) in prepaid expenses NIL (10,525) 2,700 (7,825) 50,507 Decrease (increase) in reserve funds (6,789) (8,538) 1,749 (6,789) (6,856) Net change in net financial assets (6,789) (14,173) 3,642 (10,531) 50,440 Net financial assets, beginning of year (63,435) (53,726) (9,709) (63,435) (113,875) Net financial assets, end of year (70,224) (67,899) (6,067) (73,966) (63,435) The explanatory financial notes on pages 7 through 13 form an integral part of these financial statements. 89
THE CAMBRIDGE PUBLIC LIBRARY BOARD STATEMENT OF CASH FLOWS For the year ended December 31, 2016 6 2016 2015 $ $ OPERATING Annual Surplus 4,083 6,789 Sources (Uses) Accounts receivable 2,979 23,134 Receivable from the City of Cambridge (108,062) 421,792 Accounts payable 36,837 (310,584) Liability for 27th pay 11,000 (91,816) Payable to the City of Cambridge (65,682) 65,682 Deferred revenue (23,456) 4,151 Prepaid expenses (7,825) 50,507 Cash provided from (used in) operations (154,209) 162,866 RESERVES Previous year's surplus (6,789) (6,856) Operating reserve fund (97,782) 133,120 Capital reserve fund (447,372) (221,893) Reserve funds 545,154 88,773 Cash used for reserve activities (6,789) (6,856) Net change in cash (156,915) 162,799 Cash, beginning of year 209,978 47,179 Cash, end of year 53,063 209,978 The explanatory financial notes on pages 7 through 13 form an integral part of these financial statements. 90
THE CAMBRIDGE PUBLIC LIBRARY BOARD EXPLANATORY FINANCIAL NOTES For the year ended December 31, 2016 7 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Cambridge Public Library Board ("the Board") was incorporated as a not-for-profit organization without share capital, under the laws of Ontario. It is a Board of the Corporation of the City of Cambridge ("the City") and is dependent on the City for a significant portion of its operating and capital funding. The financial statements of the Board are the representation of management prepared in accordance with Canadian generally accepted accounting principles as recommended by the Public Sector Accounting Board of the Chartered Professional Accountants of Canada. Since precise determination of many assets and liabilities is dependent upon future events, the preparation of periodic financial statements necessarily involves the use of estimates and approximations. These have been made using careful judgements. (a) Revenue Recognition The Board receives revenue from a variety of sources and applies the following recognition policies: i) Grants and contributions received for operating expenses and tangible capital assets are recognized as revenue in the year in which the related expenses are incurred. ii) Fee and fine revenue is recognized when the cash is collected. iii) Revenue from donations and fundraising events is recognized when the cash is collected. (b) Capital Assets The historical cost and accumulated amortization for capital assets are reflected on the financial statements of The Corporation of The City of Cambridge, as title to the assets rests with the City. (c) Reserve Funds Reserve funds are comprised of receipts and interest earned on funds contributed for specific purposes. Expenditures from the reserve funds are approved by the Board within prescribed terms. (d) Deferred Revenue Deferred revenue represents user charges and fees which have been collected but for which the related services have yet to be performed. These amounts will be recognized as revenues in the fiscal year the services are performed and/or expenditures are incurred. (e) Collections of Literary Materials and Art Work The Board's collection of literary materials are preserved and held for public education and research. The Board has elected not to record its collection in the statement of financial position. The Board's collection of art work is paid for through funds acquired by private fundraising and special purpose grant acquisition. The Board's collection is preserved and held for public exhibition. The Board has elected not to record its art work in the statement of financial position. Library materials and gallery acquisitions are recorded as expenditures in the period they are incurred. 91
THE CAMBRIDGE PUBLIC LIBRARY BOARD EXPLANATORY FINANCIAL NOTES For the year ended December 31, 2016 8 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) (f) Pension Plan The Board is an employer member of the Ontario Municipal Employees Retirement System (OMERS), which is a multiemployer, defined benefit pension plan. The OMERS Board of Trustees, representing plan members and employers, is responsible for overseeing the management of the pension plan, including investment of the assets and administration of the benefits. The Board has adopted defined contribution plan accounting principles for this Plan because insufficient information is available to apply defined benefit plan accounting principles. (g) Financial Instruments The Board's financial instruments consist of cash, accounts receivable, accounts payable and accrued liabilities. Unless otherwise noted, it is management's opinion that the Board is not exposed to significant interest, currency or credit risks arising from these financial instruments. The fair values of these financial instruments approximate their carrying values, unless otherwise noted. 92
THE CAMBRIDGE PUBLIC LIBRARY BOARD EXPLANATORY FINANCIAL NOTES For the year ended December 31, 2016 9 2. TRUST FUNDS Funds being held on deposit with the City of Cambridge and Others in trust by the Board, and not reflected in the accompanying financial statements, are detailed as follows: 2016 2015 $ $ LIBRARY DONATIONS Opening balance 492,807 474,684 Contributions received 9,729 18,746 Interest earned 13,079 14,355 Contributions to operating revenues (branch services) (14,352) (14,624) Contributions to operating revenues (gallery) (300) (300) Contributions to others (1,102) (54) On deposit with the City of Cambridge 499,861 492,807 ART ACQUISITION Opening balance 331,177 325,789 Contributions received 1,770 1,385 Contribution from operating revenues 23,500 NIL Interest earned 8,379 9,561 Acquisitions made (note 5) NIL NIL Contributions to others (37,573) (5,558) On deposit with the City of Cambridge 327,253 331,177 IDEA EXCHANGE ARTS ENDOWMENT FUND (note 6) Opening balance 274,061 267,601 Fund earnings (net of fees) 24,129 17,725 Expenditures made (11,926) (11,265) On deposit with the Ontario Arts Foundation 286,264 274,061 93
THE CAMBRIDGE PUBLIC LIBRARY BOARD EXPLANATORY FINANCIAL NOTES For the year ended December 31, 2016 10 3. MUNICIPAL OPERATING CONTRIBUTION The current operating contribution from the City of Cambridge for the year is comprised of cash appropriations made to the Board, and expenditures paid on behalf of the Board, and is broken down as follows (including contributions relating to operating reserve funds in note 4): 2016 2015 Library Gallery $ $ Cash appropriations 5,626,700 558,200 6,184,900 5,923,300 Insurance coverage 13,600 5,900 19,500 19,100 WSIB schedule II coverage 2,000 NIL 2,000 2,000 5,642,300 564,100 6,206,400 5,944,400 4. RESERVE FUNDS Reserve funds established by the Board are held by the City of Cambridge. Details of the reserve funds are as follows: BUILDING MAINTENANCE RESERVE FUND Balance beginning of year 262,076 139,564 Contributions received (maintenance) 85,800 118,800 Interest earned 5,665 3,712 353,541 262,076 Expenditures during the year (maintenance) NIL NIL Balance at the end of year 353,541 262,076 MATERIALS RESERVE FUND Balance beginning of year 288,570 242,566 Contributions received (branch services) NIL 40,000 Interest earned 6,037 6,004 294,607 288,570 Expenditures during the year (branch services) NIL NIL Balance at the end of year 294,607 288,570 PROCESSING RESERVE FUND Balance beginning of year 13,387 13,066 Contributions received (branch services) NIL NIL Interest earned 280 321 13,667 13,387 Expenditures during the year (branch services) NIL NIL Balance at the end of year 13,667 13,387 TOTAL OPERATING RESERVE FUNDS 661,815 564,033 94
THE CAMBRIDGE PUBLIC LIBRARY BOARD EXPLANATORY FINANCIAL NOTES For the year ended December 31, 2016 11 4. RESERVE FUNDS (con't) 2016 2015 $ $ DEVELOPMENT CHARGES CAPITAL RESERVE FUND Balance at the beginning of year 875,637 653,744 Contributions received 523,575 299,108 Interest earned 11,097 8,285 1,410,309 961,137 Expenditures during the year (87,300) (85,500) Balance at the end of year 1,323,009 875,637 TOTAL RESERVE FUNDS 1,984,824 1,439,670 5. GALLERY ACQUISITIONS Funding for capital acquisitions for the Gallery is provided through a combination of funds raised by the Gallery Fundraising Committee (Art Acquisition Trust Fund - note 2), special purpose grants received from various government sources and private donations received from Gallery supporters. In 2016, $NIL in art acquisition expenditures were made ($NIL in 2015). 6. IDEA EXCHANGE ARTS ENDOWMENT FUND The Gallery has established the Idea Exchange Arts Endowment Fund at the Ontario Arts Foundation under the terms of the Arts Endowment Fund (AEF) Program. The AEF is a program of the Government of Ontario through the Ministry of Tourism, Culture and Recreation, administered by the Ontario Arts Foundation. Income from the fund will be used for Gallery operating purposes. Market value of the fund as at December 31, 2016 is $286,264 ($274,061 in 2015). 95
THE CAMBRIDGE PUBLIC LIBRARY BOARD EXPLANATORY FINANCIAL NOTES For the year ended December 31, 2016 12 7. OPERATING AND LEASE AGREEMENT WITH THE UNIVERSITY OF WATERLOO (U of W) The Board has in place an operating and lease agreement with the U of W to operate a Gallery of Architecture at the U of W School of Architecture at 7 Melville Street, Cambridge, Ontario. The operating agreement details operational requirements which are provided through the existing Gallery programming. There are no specific ongoing monetary obligations associated with the operating or lease agreements. The agreements end September 1, 2029. 8. FEDERAL AND PROVINCIAL SUPPORT GRANTS 2016 2015 Library Gallery $ $ Canada Council support grant NIL 72,000 72,000 72,000 Ontario Arts Council support grant NIL 66,500 66,500 70,000 Provincial annual operating grant 161,464 NIL 161,464 161,464 161,464 138,500 299,964 303,464 9. SERVICE CONTRACT WITH THE WATERLOO CATHOLIC DISTRICT SCHOOL BOARD (WCDSB) The Board has in place a contractual partnership with the WCDSB to operate a Library Resource Centre at St. Benedict High School. The Library - Clemens Mill Branch, is jointly operated to service both the high school population and the public. Payment in the amount of $126,288 was received in 2016 ($125,616 in 2015) and an obligation to provide services in return for payment of $75,773 exists for the balance of the 2016/2017 school year ($75,773 for 2015/2016). 10. OTHER REVENUE AND OTHER OPERATING EXPENSES The presentation of "Other revenue" and "Other operating expenses" categories has been calculated to eliminate offsetting transactions. Offsetting transactions appearing in the functional operating summary are eliminated from the statement of operations and are detailed below: 2016 2015 $ $ OTHER REVENUE Miscellaneous grant revenue (branch services) 16,337 20,532 Miscellaneous grant revenue (gallery) 6,854 NIL Contributions from trust accounts (branch services) 14,352 14,624 37,543 35,156 96
THE CAMBRIDGE PUBLIC LIBRARY BOARD EXPLANATORY FINANCIAL NOTES For the year ended December 31, 2016 13 10. OTHER REVENUE AND OTHER OPERATING EXPENSES (con't) 2016 2015 $ $ OTHER OPERATING EXPENSES CDs, materials, large print (branch services) 12,000 12,000 Sundries (branch services) 2,352 2,624 Miscellaneous grant expense (branch services) 2,852 20,532 Materials (branch services) 13,485 NIL Miscellaneous grant expense (gallery) 6,854 NIL 37,543 35,156 11. LIBRARY MATERIALS UPGRADING In 1995, the Board commenced a long term Library Materials Upgrading program. In 2016, the source of funding for this program, which totaled $97,000 ($95,000 in 2015), was contributed from the Library Development Charges Reserve Fund and The City of Cambridge. 12. LIABILITY FOR 27TH PAY Each year an accrual is made to provide for a 27th pay period which will occur in the year 2026. 13. PENSION PLAN The Ontario Municipal Employees Retirement System (OMERS) provides pension services to more than 460,000 active and retired members and over 1000 employers. Each year an independent actuary determines the funding status of OMERS Primary Pension Plan (the Plan) by comparing the actuarial value of invested assets to the estimated present value of all pension benefits that members have earned to date. The most recently completed actuarial valuation of the Plan was conducted at December 31, 2015. The results of this valuation disclosed total actuarial liabilities of $81.9 billion in respect of benefits accrued for service with actuarial assets at that date of $74.9 billion indicating an actuarial deficit of $7 billion. Because OMERS is a multiemployer plan, any pension plan surpluses or deficits are a joint responsibility of Ontario municipal organizations and their employees. The Board does not recognize any share of the OMERS pension surplus or deficit. Contributions made by the Board to OMERS for 2016 were $337,222 ($362,048 in 2015). 97
THE CAMBRIDGE PUBLIC LIBRARY BOARD FUNCTIONAL OPERATING SUMMARY For the year ended December 31, 2016 14 2016 2016 2015 BUDGET $ ACTUAL $ ACTUAL $ REVENUE Administration 506,000 517,597 496,580 Maintenance of facilities 707,100 707,155 647,632 Gallery 827,000 821,568 805,664 Branch services 3,297,400 3,303,181 3,219,985 Digital services 788,500 788,372 686,853 Programming and promotion 1,025,900 1,036,564 1,035,989 TOTAL REVENUE 7,151,900 7,174,437 6,892,703 EXPENDITURE Administration 506,000 533,418 496,050 Maintenance of facilities 707,100 891,237 722,073 Gallery 827,000 822,375 807,413 Branch services 3,297,400 3,178,960 3,178,944 Digital services 788,500 719,566 676,938 Programming and promotion 1,025,900 1,024,798 1,004,496 TOTAL EXPENDITURE 7,151,900 7,170,354 6,885,914 EXCESS OF REVENUE OVER EXPENDITURE FOR YEAR NIL 4,083 6,789 FUND BALANCE, BEGINNING OF YEAR 6,789 6,789 6,856 TRANSFER TO OPERATIONS (6,789) (6,789) (6,856) FUND BALANCE, END OF YEAR NIL 4,083 6,789 NOTE: This functional operating summary does not include "Major Project" capital expenditures amounting to $272,081 ($294,871 in 2015) presented in the statement of operations. This functional operating summary includes the offsetting transactions detailed in note 10. 98
THE CAMBRIDGE PUBLIC LIBRARY BOARD DIRECTORY December 31, 2016 15 BOARD OF TRUSTEES CHAIR Mr. Gary Price VICE CHAIRS Ms. Lara Banks Ms. Kathy McKinnon TRUSTEES Mr. Terry Kratz Ms. Amanda Maxwell Mr. David Pinnington Mr. Andrew Shantz Ms. Janice Woynarski Councillor Pam Wolf MANAGEMENT Ms. Helen Kelly B.A., M.L.I.S., Chief Executive Officer 99
THE CAMBRIDGE PUBLIC LIBRARY BOARD DIRECTORY December 31, 2016 16 BANKERS Canadian Imperial Bank of Commerce Main and Water St. Cambridge, Ontario N1R 5V5 TD Canada Trust 81 Main Street Cambridge, Ontario N1R 1W1 LAWYERS Pavey, Law & Witteveen LLP 19 Cambridge St., P.O. Box 1707 Cambridge, Ontario N1R 7G8 AUDITORS Graham Mathew Professional Corporation 150 Pinebush Rd. P.O. Box 880 Cambridge, Ontario N1R 5X9 100
THE CAMBRIDGE PUBLIC LIBRARY BOARD FUNCTIONAL STATEMENT OF REVENUE AND EXPENDITURE - UNAUDITED Year ended December 31, 2016 ADMINISTRATION 2016 2016 2015 BUDGET $ ACTUAL $ ACTUAL $ REVENUE City appropriation (note 3) 474,100 474,100 458,200 Rent from gallery 30,400 36,371 30,615 Surplus from previous year NIL 6,789 6,856 Sundries 1,500 337 909 506,000 517,597 496,580 EXPENDITURE Salaries 325,800 310,806 290,054 Benefits 83,000 78,522 72,672 Retiree life insurance 5,000 5,000 5,000 Advertising 3,200 2,251 5,186 Purchased services 1,000 4,135 4,240 Professional fees 7,500 10,748 10,932 Memberships and subscriptions 12,800 13,073 12,717 Training and development 15,000 20,692 22,663 Office supplies 7,400 7,686 6,678 Travel expense 4,000 1,455 1,761 Telephone 11,500 12,237 11,086 Insurance 13,600 13,600 13,300 27th Pay contribution (note 12) 11,000 11,000 7,700 WSIB schedule II contributions (note 3) 2,000 2,000 2,000 Sundries 3,200 40,213 30,061 506,000 533,418 496,050 EXCESS OF REVENUE OVER EXPENDITURE (EXPENDITURE OVER REVENUE) FOR THE YEAR NIL (15,821) 530 101
THE CAMBRIDGE PUBLIC LIBRARY BOARD FUNCTIONAL STATEMENT OF REVENUE AND EXPENDITURE - UNAUDITED Year ended December 31, 2016 MAINTENANCE OF FACILITIES 2016 2016 2015 BUDGET $ ACTUAL $ ACTUAL $ REVENUE City appropriation (note 3) 653,900 653,900 598,400 Contract revenue - WCDSB (note 9) 6,300 6,450 6,300 Revenue from gallery 6,200 2,000 3,475 Rent from gallery 40,700 44,805 39,457 Contribution from facility maintenance reserve (note 4) NIL NIL NIL 707,100 707,155 647,632 EXPENDITURE Salaries 238,800 236,308 253,616 Benefits 61,700 60,873 63,346 Cleaning supplies 11,700 17,794 15,588 Lighting supplies 7,400 6,813 5,418 Snow removal 11,600 28,700 6,284 Dust control 5,000 7,392 5,766 Gas 26,000 15,297 23,988 Hydro and water 176,100 175,370 156,352 Building and equipment maintenance 120,300 221,994 111,541 Maintenance contracts 32,300 26,820 26,301 Travel 2,700 3,339 2,372 Fire alarm 4,600 4,665 2,701 Sundries 100 72 NIL Contribution to facility maintenance reserve (note 4) 8,800 85,800 48,800 707,100 891,237 722,073 EXCESS OF EXPENDITURE OVER REVENUE FOR THE YEAR NIL (184,082) (74,441) 102
THE CAMBRIDGE PUBLIC LIBRARY BOARD FUNCTIONAL STATEMENT OF REVENUE AND EXPENDITURE Year ended December 31, 2016 GALLERY 2016 2016 2015 BUDGET $ ACTUAL $ ACTUAL $ REVENUE City appropriation (note 3) 564,100 564,100 554,800 Provincial support grant (note 8) 66,500 66,500 70,000 Federal support grant (note 8) 72,000 72,000 72,000 Other grants (note 10) NIL 6,854 NIL Admission fees and tuition 30,000 19,167 23,928 Memberships 8,600 2,110 3,701 Fundraising 30,000 39,861 28,711 Musical performance donation (note 2) 300 300 300 Special events 42,500 35,526 35,789 Art endowment fund income 10,000 13,095 11,265 Sundries 3,000 2,055 5,170 827,000 821,568 805,664 EXPENDITURE Salaries 383,200 369,974 385,970 Benefits 79,300 77,354 79,308 Programs/exhibitions 112,800 93,021 105,960 Fundraising 14,000 19,013 15,834 Education 32,000 22,663 27,366 Special events 34,100 33,117 33,116 Lectures 2,100 2,414 871 Concert series 2,100 1,625 2,089 Rent and overhead 100,600 110,668 99,224 Security 1,600 625 589 Equipment and collection maintenance 8,300 6,715 5,110 Office supplies and postage 17,500 14,867 19,191 Advertising 25,500 25,979 19,028 Travel 2,400 2,860 2,528 Telephone 2,900 2,876 2,781 Insurance 5,900 5,900 5,800 Sundries 2,700 2,350 2,648 Art acquisitions (note 5) NIL NIL NIL Art acquisition trust (note 2) NIL 23,500 NIL Miscellaneous grant expense (note 10) NIL 6,854 NIL 827,000 822,375 807,413 EXCESS OF EXPENDITURE OVER REVENUE FOR THE YEAR NIL (807) (1,749) 103
THE CAMBRIDGE PUBLIC LIBRARY BOARD FUNCTIONAL STATEMENT OF REVENUE AND EXPENDITURE - UNAUDITED Year ended December 31, 2016 BRANCH SERVICES 2016 2016 2015 BUDGET $ ACTUAL $ ACTUAL $ REVENUE City appropriation (note 3) 2,759,900 2,759,900 2,669,000 Provincial annual grant (note 8) 161,400 161,464 161,464 Other provincial grants (note 10) 13,000 13,485 16,084 Other grants (note 10) NIL 2,852 4,448 Fines 120,000 116,481 123,104 Best sellers 6,100 4,207 4,471 Payment for lost or damaged materials 12,900 12,417 13,234 Printing and photocopying 13,200 14,965 14,713 Contract revenue - WCDSB (note 9) 94,700 94,658 94,214 Sundries 7,200 11,400 9,629 Contribution from capital (note 11) 97,000 97,000 95,000 Contribution from trust (note 2 and note 10) 12,000 14,352 14,624 3,297,400 3,303,181 3,219,985 EXPENDITURE Salaries 2,203,900 2,108,411 2,097,712 Benefits 430,600 413,208 414,509 Summer employment program 17,500 12,383 15,055 Best sellers 6,100 3,577 3,855 CDs 11,800 11,512 11,823 DVDs 28,300 32,457 32,362 Periodicals and newspapers 43,800 51,202 44,457 Materials 400,500 388,320 343,747 Materials processing 110,500 107,210 104,506 Supplies 7,900 8,708 11,349 Postage 9,500 9,333 9,594 Delivery service 20,300 19,582 19,293 Membership cards 3,800 4,142 3,966 One book one community 1,500 312 942 Travel 1,100 897 1,268 Other grant expense (note 10) NIL 2,852 20,532 Sundries 300 4,854 3,974 Material reserve (note 4) NIL NIL 40,000 3,297,400 3,178,960 3,178,944 EXCESS OF REVENUE OVER EXPENDITURE FOR THE YEAR NIL 124,221 41,041 104
THE CAMBRIDGE PUBLIC LIBRARY BOARD FUNCTIONAL STATEMENT OF REVENUE AND EXPENDITURE - UNAUDITED Year ended December 31, 2016 DIGITAL SERVICES 2016 2016 2015 BUDGET $ ACTUAL $ ACTUAL $ REVENUE City appropriation (note 3) 739,700 739,700 638,600 Rent from gallery 23,500 23,492 23,151 Contract revenue - WCDSB (note 9) 25,300 25,180 25,102 788,500 788,372 686,853 EXPENDITURE Salaries 438,400 405,789 402,675 Benefits 111,600 99,744 98,381 Computer maintenance hardware 41,000 33,125 29,571 Computer maintenance software 95,000 86,360 65,075 Computer maintenance connectivity 67,500 65,081 57,612 Office supplies 1,600 1,463 721 Minor capital 32,100 26,491 21,851 Travel 1,300 1,513 1,052 788,500 719,566 676,938 EXCESS OF REVENUE OVER EXPENDITURE FOR THE YEAR NIL 68,806 9,915 105
THE CAMBRIDGE PUBLIC LIBRARY BOARD FUNCTIONAL STATEMENT OF REVENUE AND EXPENDITURE - UNAUDITED Year ended December 31, 2016 PROGRAMMING AND PROMOTION 2016 2016 2015 BUDGET $ ACTUAL $ ACTUAL $ REVENUE City appropriation (note 3) 1,014,700 1,014,700 1,025,400 Programming revenue NIL 10,327 NIL Revenue from gallery 5,200 5,537 4,589 Rent from gallery 6,000 6,000 6,000 1,025,900 1,036,564 1,035,989 EXPENDITURE Salaries 673,200 672,518 662,300 Benefits 152,800 150,647 146,879 CDs 3,600 3,517 2,947 DVDs 13,100 13,392 14,276 Materials 118,200 111,477 118,529 Advertising 22,300 20,714 20,996 Printing 10,000 10,896 8,159 Programming 23,100 31,362 21,087 Office supplies 7,100 7,368 5,707 Volunteer program 1,400 887 1,413 Travel 1,100 2,020 2,203 1,025,900 1,024,798 1,004,496 EXCESS OF REVENUE OVER EXPENDITURE FOR THE YEAR NIL 11,766 31,493 106
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BOARD OF MANAGEMENT OF DOWNTOWN CAMBRIDGE BUSINESS IMPROVEMENT AREA FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016 146
BOARD OF MANAGEMENT OF DOWNTOWN CAMBRIDGE BUSINESS IMPROVEMENT AREA DECEMBER 31, 2016 CONTENTS Page Independent Auditors' Report 1 Financial Statements Statement of Operations 2 Statement of Net Assets 2 Financial Position 3 Statement of Cash Flows 4 Explanatory Financial Notes 5-6 147
INDEPENDENT AUDITORS' REPORT To the Board of Management, Members of Council, Inhabitants and Ratepayers of The Corporation of the City of Cambridge We have audited the accompanying financial statements of Board of Management of Downtown Cambridge Business Improvement Area which comprise the statement of financial position as at December 31, 2016, and the statements of operations, net assets and cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with Canadian public sector accounting standards, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors Responsibility 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 comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on our judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements present fairly, in all material respects, the financial position of Board of Management of Downtown Cambridge Business Improvement Area as at December 31, 2016, and the results of its operations and its cash flows for the year then ended in accordance with Canadian public sector accounting standards. Cambridge, Ontario March 31, 2017 Chartered Professional Accountants, authorized to practise public accounting by the Chartered Professional Accountants of Ontario 148
BOARD OF MANAGEMENT OF DOWNTOWN CAMBRIDGE BUSINESS IMPROVEMENT AREA STATEMENT OF OPERATIONS YEAR ENDED DECEMBER 31, 2016 2016 2016 2015 Budget $ Actual $ Actual $ (Unaudited) Revenue Taxation levy, City of Cambridge (note 1b) 176,670 180,768 163,416 Other 42,000 35,893 30,311 Total revenue 218,670 216,661 193,727 Expenditure Occupancy costs Rent (note 5) 5,400 5,227 5,217 Insurance 1,800 1,637 1,677 Utilities and telephone 1,500 6,289 5,967 Repairs and maintenance 3,470 74 65 Office supplies and equipment 3,146 3,362 2,324 CCAP program (note 3) 9,250 9,250 9,250 24,566 25,839 24,500 Payroll and contract services Salaries and benefits 62,478 59,260 54,328 Outside labour 5,000 4,345 4,317 Janitorial services 19,500 19,867 17,107 86,978 83,472 75,752 Other Sponsorships and memberships 69,616 57,974 50,561 Advertising and promotion 14,910 9,288 19,884 Conferences and meetings 2,500 2,147 1,822 Professional fees 2,000 2,000 2,000 Beautification 18,000 17,335 14,312 Bank charges, interest and penalties 100 1,856 1,884 107,126 90,600 90,463 Total expenditure 218,670 199,911 190,715 Excess of revenue over expenditure for year NIL 16,750 3,012 STATEMENT OF NET ASSETS YEAR ENDED DECEMBER 31, 2016 Balance, beginning of year 33,792 30,780 Excess of revenue over expenditure for year 16,750 3,012 Balance, end of year 50,542 33,792 The explanatory financial notes form an integral part of these financial statements. 149 2.
BOARD OF MANAGEMENT OF DOWNTOWN CAMBRIDGE BUSINESS IMPROVEMENT AREA ASSETS FINANCIAL POSITION DECEMBER 31, 2016 2016 2015 $ $ Cash 36,232 35,006 Accounts receivable, net (note 4) 11,499 1,961 HST rebate receivable 11,749 11,588 59,480 48,555 LIABILITIES Accounts payable and accrued liabilities 7,603 9,331 Accounts payable, City of Cambridge 1,335 5,432 8,938 14,763 NET ASSETS Net assets 50,542 33,792 59,480 48,555 APPROVED BY THE BOARD: Board Member Board Member The explanatory financial notes form an integral part of these financial statements. 150 3.
BOARD OF MANAGEMENT OF DOWNTOWN CAMBRIDGE BUSINESS IMPROVEMENT AREA STATEMENT OF CASH FLOWS YEAR ENDED DECEMBER 31, 2016 2016 2015 $ $ Cash flows from operating activities: Excess of revenue over expenditure for year 16,750 3,012 Net change in non-cash working capital balances relating to operations: Accounts receivable ( 9,538) ( 1,961) HST rebate receivable ( 161) ( 2,175) Prepaid expenses 1,569 Accounts payable and accrued liabilities ( 1,728) 1,086 Payable to City of Cambridge ( 4,097) 4,871 Net increase in cash 1,226 6,402 Cash, beginning of year 35,006 28,604 Cash, end of year 36,232 35,006 The explanatory financial notes form an integral part of these financial statements. 151 4.