May 28 2019-C1b

C1b
CITY OF WILLIAMS LAKE

COUNCIL REPORT
DATE OF REPORT: May 15, 2019

DATE & TYPE OF MEETING: May 28, 2019 Regular Council Meeting
AUTHOR: Vitali Kozubenko, Chief Financial Officer
SUBJECT: 2018 STATEMENT OF FINANCIAL INFORMATION (“SOFI”)
FILE: 1-10-5
SECTION 1: EXECUTIVE SUMMARY

The purpose of this report is to introduce the 2018 SOFI report for Council’s consideration and approval.
SECTION 2: BACKGROUND
Under the Province of British Columbia’s Financial Information Act and Financial Information Regulation,
the City must prepare a Statement of Financial Information (SOFI) for each fiscal year. The City must file
its approved 2018 SOFI with the Province by June 30, 2019.
SECTION 3: DISCUSSION
The 2018 Statement of Financial Information (SOFI) is presented in Attachment A.
The SOFI includes the 2018 Consolidated Financial Statements (that were already approved by Council on
May 14, 2019) and additional SOFI Schedule disclosures:
1. Schedule of Debts;
2. Schedule of Guarantee and Indemnity Agreements (nil schedule);
3. Schedule of Remuneration and Expenses of Elected Officials and Employees;
4. Statement of Severance Agreements (nil schedule);
5. Schedule of Payments Made for the Provision of Goods or Services.
The City’s SOFI report is prepared following the Province’s Financial Information Act Guidance Package.
SECTION 4: DETAILED ANALYSIS

Analysis of City’s financial position was already presented and discussed in depth.
SECTION 5: RECOMMENDATION
That Council receive and approve the 2018 SOFI report for submission to the Province; and further, that
the appropriate signatories be authorized to sign the report on behalf of the City.
Respectfully submitted,
Milo Macdonald
Chief Administrative Officer
ATTACHMENTS:
Attachment A – 2018 Statement of Financial Information (SOFI)
Statement of Financial Information
(Financial Information Act)
For Year Ended
December 31, 2018

Table of Contents
Statement of Financial Information Approval .......................................................................3
Management Report ....................................................................................................................4
Index / Checklist.........................................................................................................................5
Audited Financial Statements .................................................................................................12

Consolidated Statement of Financial Position .................................................................... 17
Consolidated Statement of Operations................................................................................ 18
Consolidated Statement of Cash Flows ............................................................................... 19
Consolidated Statement of Changes in Net Financial Assets ........................................... 20
Notes to the Consolidated Financial Statements ................................................................ 21
Supplementary Information.................................................................................................. 33
Schedule of Debts ......................................................................................................................55
Schedule of Guarantee and Indemnity Agreements...........................................................56
Schedule of Remuneration and Expenses Paid....................................................................57
Statement of Severance Agreements......................................................................................58
Schedule of Payments for Goods or Services.......................................................................59
2
Statement of Financial Information Approval
The undersigned, as authorized by the Financial Information Regulation, Schedule 1, subsection 9(2),
approves all the statements and schedules included in this Statement of Financial Information,
produced under the Financial Information Act.
_________________________
Walter Cobb
Mayor on behalf of Council
May 28, 2019
_________________________
Vitali Kozubenko
Chief Financial Officer
May 28, 2019
Prepared under the Financial Information Regulation, Schedule 1, Section 9
3
Management Report
The Financial Statements contained in this Statement of Financial Information under the Financial
Information Act have been prepared by management in accordance with generally accepted
accounting principles or stated accounting principles, and the integrity and objectivity of these
statements are management’s responsibility. Management is also responsible for all the statements
and schedules, and for ensuring that this information is consistent, where appropriate, with the
information contained in the financial statements.
Management is also responsible for implementing and maintaining a system of internal controls to
provide reasonable assurance that reliable financial information is produced.
The City Council is responsible for ensuring that management fulfils its responsibilities for financial
reporting and internal control and exercises this responsibility through a Committee of the Whole.
Council meets with management and the external auditors at least once a year.
The external auditors, MNP LLP, conduct an independent examination, in accordance with generally
accepted auditing standards, and express their opinion on the financial statements. Their
examination does not relate to the other schedules and statements required by the Act. Their
examination includes a review and evaluation of the City’s system of internal control and appropriate
tests and procedures to provide reasonable assurance that the financial statements are presented
fairly. The external auditors have full and free access to City Council and meet with Council at least
once per year.
On behalf of the City of Williams Lake,
_________________________
Vitali Kozubenko
Chief Financial Officer
May 28, 2019
4
Print Form
Financial Information Act

Financial Information Regulation (FIR), Schedule 1
Statement of Financial Information (SOFI)

Index to FIR Schedule 1 and the Checklist
Page 1: Corporation Information
Ministry Information
General: Section One

1(1)(a) Statement of assets and liabilities
1(1)(b) Operational statement
1(1)(c) Schedule of debts
1(1)(d) Schedule of guarantee and indemnity agreements
1(1)(e) Schedule of employee remuneration and expenses
1(1)(f) Schedule of suppliers of goods and services
1(2) [Explanatory information for reference]
1(3) Statements prepared on a consolidated basis or for each fund
1(4) & (5) Notes to the statements and schedules in section 1(1)
Page 2: Statement of Assets & Liabilities: Section Two

2 Balance sheet
Changes in equity and surplus or deficit
Operational Statement: Section Three

3(1) Statement of Income / Statement of Revenue and Expenditures
Statement of Changes in Financial Position
3(2) & (3) Omission of Statement of Changes in Financial Position, with explanation
3(4) Requirement for community colleges, school districts and municipalities
Statement of Debts: Section Four

4(1)(a) & 4(2) List and detail the schedule of long-term debts
4(1)(b) Identify debts covered by sinking funds / reserves
4(3) & (4) Omission of schedule, with explanation
Page 3: Schedule of Guarantee and Indemnity Agreements: Section Five

5(1) List agreements under the Guarantees and Indemnities Regulation
5(2) State the entities and amounts involved
5(3) & (4) Omission of schedule, with explanation
Page 3 & 4: Schedule of Remuneration and Expenses: Section Six

6(1) [Definitions for reference]
6(2)(a) List remuneration / expenses for each elected official, member of board, Cabinet appointees
6(2)(b) List each employee with remuneration exceeding $75,000, plus expenses
6(2)(c) Consolidated total for all employees with remuneration of $75,000 or less
6(2)(d) Reconcile difference in total remuneration above with operational statement
6(3) Exclude personal information other than as required
Index Page 1 5
Page 3 & 4: Schedule of Remuneration and Expenses: Section Six (continued)
6(4) & (5) [Explanatory information for reference]
6(6) Report employer portion of EI and CPP as a supplier payment
6(7)(a) & (b) Statement of severance agreements
6(8) Explain an omission of statement of severance agreements
6(9) [Statement of severance agreements to minister – not required unless requested]
Page 4: Schedule of Suppliers of Goods or Services: Section Seven

7(1)(a) List suppliers receiving payments exceeding $25,000
7(1)(b) Consolidated total of all payments of $25,000 or less
7(1)(c) Reconcile difference in total above with operational statement
7(2)(a) [Explanatory information for reference]
7(2)(b) Statement of payments of grants or contributions
7(2)(c) [Explanatory information for reference]
Page 5: Inactive Corporations: Section Eight

8(1) Ministry to report for inactive corporations
8(2)(a) Contents of report – statements and schedules under section 1(1) to extent possible
8(2)(b) Contents of report – operational status of corporation
Approval of Financial Information: Section Nine

9(1) Approval of SOFI for corporations (other than municipalities)
9(2) Approval of SOFI for municipalities
9(3) Management report
9(4) Management report must explain roles and responsibilities
9(5) Signature approval is for all contents of the SOFI
Access to the Financial Information: Section Ten

10(1) to (3) [Explanatory information for reference]
Index Page 2 6
Financial Information Regulation, Schedule 1
Checklist – Statement of Financial Information (SOFI)
For the Corporation:
Corporate Name: City of Williams Lake Contact Name: Vitali Kozubenko
December 31, 2018 (250) 392-1777
Fiscal Year End: Phone Number:
Date Submitted: June 12, 2019 E-mail: finance@williamslake.ca
For the Ministry:

Ministry Name: Reviewer:
Date Received: Deficiencies: Yes No
Date Reviewed: Deficiencies Addressed: Yes No
Approved (SFO): Further Action Taken:
Distribution: Legislative Library Ministry Retention
FIR
Schedule 1 Item Yes No N/A Comments
Section
General
1 (1) (a) Statement of assets and liabilities see Financial Statements ("FS")
1 (1) (b) Operational statement FS
1 (1) (c) Schedule of debts Attached Schedule and FS note 10
1 (1) (d) Schedule of guarantee and

Attached Schedule
indemnity agreements
1 (1) (e) Schedule of employee remuneration

and expenses Attached Schedule
1 (1) (f) Schedule of suppliers of goods and

services Attached Schedule
1 (3) Statements prepared on a

consolidated basis or for each fund, FS are consolidated
as appropriate
1 (4) Notes to the financial statements for

1 (5) the statements and schedules listed FS
above
Checklist Page 1 7
FIR
Section
Statement of Assets & Liabilities
2 • A balance sheet prepared in

accordance with GAAP or stated
accounting principles / policies, FS
and see Consolidated Statement of Financial Position
• Show changes in equity and
surplus or deficit due to
operations
Operational Statement
3 (1) Prepared in accordance with GAAP

or stated accounting principles /
policies and consists of: FS
• a Statement of Income or see Consolidated Statement of Operations
Statement of Revenue and see Statement of Changes in Cash Flow
Expenditures, and see Statement of Changes in Net Financial Assets
• a Statement of Changes in
Financial Position
3 (2) • The Statement of Changes in

3 (3) Financial Position may be FS
omitted if it provides no see Statement of Changes in Cash Flow
additional information see Statement of Changes in Net Financial Assets
• The omission must be explained
in the notes
3 (4) Community colleges, school districts,

and municipalities must prepare a FS Schedule A
Statement of Changes in Financial
Position for the Capital Fund
Schedule of Debts
4 (1) (a) List each long-term debt (secured by

4 (2) debentures, mortgages, bonds, etc.),
Attached Schedule of Debts and FS note 10
stating the amount outstanding, the
interest rate, and the maturity date
4 (1) (b) Identify debts covered by sinking

funds or reserves and amounts in Attached Schedule of Debts and FS notes 7 & 10
these accounts
4 (3) • The schedule may be omitted if

4 (4) addressed under section 2 or 5
and it provides no additional
Attached Schedule of Debts and FS notes 7 & 10
information
in a note to the schedule
Checklist Page 2 8
FIR
Section
Schedule of Guarantee and Indemnity Agreements
5 (1) List financial agreements that

required government approval prior
to being given (see Guarantees and None
Indemnities Regulation in FIA
Guidance Package)
5 (2) State the entities involved, and the

specific amount involved if known None
5 (3) • The schedule may be omitted if

5 (4) addressed under section 2 or 4
and it provides no additional Attached Note to the Schedule of Guarantee and
information Indemnity Agreements
in a note to the schedule
Schedule of Remuneration and Expenses

(See Guidance Package for suggested format)
6 (2) (a) List separately, by name and

position, the total remuneration and
the total expenses for each elected
Attached Schedule
official, member of the board of
directors, and employee appointed
by Cabinet
6 (2) (b) List alphabetically each employee

whose total remuneration exceeds
$75,000 and the total expenses for Attached Schedule
each [excluding the persons listed
under 6 (2) (a)]
6 (2) (c) Include a consolidated total for

employees whose remuneration is
Attached Schedule
$75,000 or less [excluding the
persons listed under 6 (2) (a)]
6 (2) (d) Reconcile or explain any difference

between total remuneration in this Attached Schedule
schedule and related information in
the operational statement
6 (3) Exclude personal information other

than name, position, function or
Attached Schedule
remuneration and expenses of
employees
Checklist Page 3 9
FIR
Section
Schedule of Remuneration and Expenses
6 (6) Report the employer portion of EI

and CPP as a supplier payment to
the Receiver General for Canada Attached Schedule
rather than as employee
remuneration
6 (7) (a) Include a statement of severance

6 (7) (b) agreements providing:
• the number of severance
agreements under which
payment commenced in the
fiscal year being reported on for
non-union employees, and Attached Schedule
• the range of equivalent months'

compensation for them
(see Guidance Package for
suggested format)
6 (8) Provide the reason for omitting a

statement of severance agreements
Attached
in a note to the schedule of
remuneration and expenses
Schedule of Suppliers of Goods or Services

7 (1) (a) List in alphabetical order all suppliers

of goods and services who received
Attached Schedule
aggregate payments exceeding
$25,000
7 (1) (b) Include a consolidated total of all

payments to suppliers who received Attached Schedule
$25,000 or less
7 (1) (c) Reconcile or explain any difference

between the consolidated total and Attached Schedule
related figures in the operational
statement
7 (2) (b) Include a statement of payments for

the purposes of grants or Attached Schedule
contributions
Checklist Page 4 10
FIR
Section
Inactive Corporations
8 (1) The ministry reports for the

corporation if the corporation is not Active
operating to the extent required to
produce a SOFI
8 (2) (a) The ministry's report contains the

statements and schedules required Active
under section 1 (1), to the extent
possible
8 (2) (b) The ministry's report contains a

statement of the operational status of Active
the corporation (see Guidance
Package regarding what to include)
Approval of Financial Information
9 (1) Corporations other than

municipalities – the SOFI is signed
as approved by the board of Municipality
directors or the governing body (see
Guidance Package for example)
9 (2) Municipalities – the SOFI is

approved by its council and by the
officer assigned responsibility for Attached Approval
financial administration (see
Guidance Package for example)
9 (3) A management report is included,

signed by the head and chief
financial officer, or by the municipal
officer assigned responsibility for Attached
financial administration (see
examples in annual report at
http://www.gov.bc.ca/cas/popt/)
9 (4) The management report explains the

roles and responsibilities of the
board of directors or governing body, Attached
audit committee, management, and
the auditors
9 (5) Signature approvals required in

section 9 are for each of the
statements and schedules of Attached
financial information, not just the
financial statements
Checklist Page 5 11
FOR THE YEAR ENDED DECEMBER 31, 2018
Audited
Financial Statements
December 31, 2018
12
INDEX TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2018
MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL REPORTING
INDEPENDENT AUDITOR'S REPORT
CONSOLIDATED STATEMENTS
1 Consolidated Statement of Financial Position
2 Consolidated Statement of Operations
3 Consolidated Statement of Cash Flows
4 Consolidated Statement of Changes in Net Financial Assets
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
INDEPENDENT AUDITOR'S REPORT ON SUPPLEMENTARY INFORMATION
SCHEDULES
A General Capital and Loan Fund-Balance Sheet
B Reserve Funds-Balance Sheet
C Cemetery Care Fund-Balance Sheet
D General Revenue Fund-Balance Sheet
E General Revenue Fund-Statement of Revenue and Expenditures
F Water Supply System-Capital and Loan Fund-Balance Sheet
G Water Supply System-Revenue Fund-Balance Sheet
H Water Supply System-Revenue Fund-Statement of Revenue and Expenditures
I Sewer System-Capital and Loan Fund-Balance Sheet
J Sewer System-Revenue Fund-Statement of Revenue and Expenditures
K Sewer System-Revenue Fund-Balance Sheet
L Paratransit Utility Fund-Balance Sheet
M Paratransit Utility Fund-Statement of Revenue and Expenditures
N Airport Capital Fund-Balance Sheet
O Airport Revenue Fund-Balance Sheet
P Airport Revenue Fund-Statement of Revenue and Expenditures
Q General Revenue Fund-Capital Asset Contributions to General Capital and Loan Fund
R General Revenue Fund-Downtown Parking Commission Reserve Account-Revenue
and Expenditures
S General Revenue Fund-Sam Ketchum Pool Operations
T General Revenue Fund-Twin Ice Arena Operations
U General Revenue Fund-Leisure Programs
13
14
15
16
Consolidated Statement of Financial Position
For the Year Ended December 31, 2018
(Audited)
2018 2017
Financial Assets
Cash and short term investments (note 2) $ 15,925,592 $ 11,321,941

Accounts receivable (note 3) 4,104,315 6,564,475
Property held for resale 26,700 26,700
Investments (note 4) 1,300,302 1,047,445
MFA debt reserve (note 7) 829,027 883,481
22,185,936 19,844,042
Liabilities
Accounts payable and accrued liabilities (note 5) 1,570,586 1,470,614

Due to other governments (note 6) 2,063,091 1,909,366
MFA debt reserve (note 7) 829,027 883,481
Prepaid taxes and deposits (note 8) 1,340,975 1,392,984
Deferred revenue-development cost charges (note 9) 2,257,308 1,988,533
Deferred revenue-other (note 9) - 448,731
Long term debt (note 10) 10,268,173 11,274,682
Other debt - -
18,329,160 19,368,391
Net Financial Assets 3,856,776 475,651
Non-financial Assets
Tangible capital assets (note 19) 106,861,970 106,328,736

Prepaids (note 11) 73,999 111,463
Inventory (note 11) 500,383 464,904
107,436,352 106,905,103
Accumulated Surplus $111,293,128 $107,380,754
Contingent Liabilities (note 13)

Commitments (note 14)
Chief Financial Officer:
Vitali Kozubenko, MBA, CPA/CGA, ACCA
17
Consolidated Statement of Operations

(Audited)
2018 2018 2017

Budget
Revenues:
Taxation $ 13,882,182 $ 13,824,216 $ 13,413,542

Grants in lieu of taxes 147,197 151,983 149,323
Services to other governments 2,900,290 3,112,888 2,707,166
Water system revenue 2,334,000 2,278,921 2,386,329
Sewer system revenue 1,665,500 1,521,810 3,349,429
General sale of services 279,671 325,601 313,870
Recreation and cultural services 1,111,852 1,445,450 879,795
Other revenue - own sources 2,443,140 3,344,332 2,999,981
Interest 218,945 545,133 423,992
Airport 1,596,700 2,152,212 2,423,522
Disaster relief 85,759 791,871
Grants from other governments 2,684,995 2,430,292 1,654,655
29,264,472 31,218,597 31,493,475
Expenses (note 18):
General government services 3,457,908 3,246,792 3,343,438

Protective services 6,365,510 5,738,714 5,974,476
Development services 653,681 652,371 625,992
Transportation services 3,238,695 3,435,216 2,977,789
Water system 1,188,472 1,057,958 1,009,424
Sewer system 626,541 412,937 443,959
Airport 1,529,908 2,022,036 1,967,242
Garbage collection 1,488,535 1,510,123 1,609,139
Shared services 95,117 85,967 84,694
Cemetery 84,274 88,756 72,051
Economic development 142,722 162,541 106,438
Recreation and cultural services 4,556,577 4,883,470 3,984,290
Amortization - 4,048,651 3,984,999
Disaster relief - 85,914 791,871
Capital asset investments 8,079,915 - -
Loss on disposal of asset - - 3,134,545
31,507,855 27,431,446 30,110,347
Annual Surplus (Deficit) (2,243,383) 3,787,151 1,383,128

Transfer from reserves - 125,223 -
Accumulated Surplus, beginning of year 107,380,754 107,380,754 105,997,626
Accumulated Surplus, end of year $105,137,371 $111,293,128 $107,380,754
Chief Financial Officer:
Vitali Kozubenko, MBA, CPA/CGA, ACCA
18
Consolidated Statement of Cash Flows
(Audited)
2018 2017
Cash Flows Provided By (Used For)
Operating Transactions:
Annual Surplus $ 3,787,151 $ 1,383,128
Items Not Involving Cash:

Amortization 4,048,651 3,984,999
Loss on disposal of assets - 3,134,547
Transfers from reserves 125,223 -
7,961,025 8,502,674
(Increase) Decrease in Non-Cash Operating Items
Accounts receivable 2,460,160 (2,417,846)

Investments (252,857) (947,143)
Prepaid expenses 37,464 (23,697)
Inventory (35,479) 39,149
Due to other governments 153,725 322,599
Accounts payable and accrued liabilities 99,972 (1,848,879)
Prepaid taxes and deposits (52,009) 408,173
Deferred revenue (179,956) 175,334
10,192,045 4,210,364
Financing Transactions:
Repayment of debt (1,006,509) (1,026,168)

Other debt - -
(1,006,509) (1,026,168)
Capital Transactions:
Acquisition of tangible capital assets (4,581,885) (6,008,412)
(4,581,885) (6,008,412)
Increase (Decrease), cash and investments 4,603,651 (2,824,216)
Cash and investments, beginning of year 11,321,942 14,146,158
Cash and investments, end of year $ 15,925,593 $ 11,321,942
Supplementary information
Interest received $ 545,133 $ 423,992
Interest paid $ 653,849 $ 734,234
19
Consolidated Statement of Changes in Net Financial Assets
(Audited)
2018 2017
Comprised of:
Annual Surplus $ 3,787,151 $ 1,383,128
Acquisition of tangible capital assets (4,581,885) (6,008,412)

Amortization of tangible capital assets 4,048,651 3,984,999
Loss on disposal of tangible capital assets - 3,134,547
Transfer from reserves 125,223 -
3,379,140 2,494,262
Net Change in Inventory (35,479) 39,149

Net Change in Prepaids 37,464 (23,697)
1,985 15,452
Increase (Decrease) in Net Financial Assets 3,381,125 2,509,714
Net Financial Assets, beginning of year 475,651 (2,034,063)
Net Financial Assets, end of year $ 3,856,776 $ 475,651
20
CITY OF WILLIAMS LAKE Page 1 of 12
Notes to the Consolidated Financial Statements
The City of Williams Lake (the "City") operates under the provisions of the Local Government Act and
the Community Charter of British Columbia. Its principal activities include the provision of local
government services to residents of the incorporated area. These include general government,
protective, water, sewer, transit, airport, cemetery and recreation services.
1. Significant Accounting Policies

(a) Basis of presentation
The consolidated financial statements of the City are prepared by management in
accordance with Canadian generally accepted accounting principles for local governments,
as prescribed by the Public Sector Accounting Board (PSAB) of the Chartered Professional
Accountants Canada.
(b) Basis of accounting
The basis of accounting followed in these consolidated financial statements is the accrual
method, and includes revenues in the period in which the transactions or events that gave
rise to the revenues occurred, and expenses in the period the goods and services were
acquired and a liability was incurred.
(c) Principles of consolidation
The consolidated financial statements include the accounts of all the City's funds. Interfund
balances and transactions have been eliminated. These financial statements consolidate
the activities of the City's wholly owned subsidiary company, Central Cariboo Economic
Development Corp. The City's 50% interest in the Williams Lake Community Forest LP is
consolidated using the equity method.
(d) Revenue recognition
Revenues are recorded in the period in which the transactions or events occurred that gave
rise to the revenues and the amounts to be received can be reasonably estimated and
collection is reasonably assured.
Taxation for municipal purposes is recorded as revenue in the period the taxes are levied.
User charges, fees, and other amounts collected for which the City has obligation to perform
or provide a future service are deferred until the service is provided.
Contributions or other funding received which has externally imposed restrictions is initially
accounted for as deferred revenue and then recognized as revenue when used for the
intended purpose.
Contributions received in-kind are recognized as revenue in the period received at their fair
market value at the time of the contribution.
(e) Cash and cash equivalents
Cash and cash equivalents consist of cash on hand less outstanding cheques and deposits
and term deposits with a maturity of less than one year.
21
1. Significant Accounting Policies (continued)
(f) Inventory
Inventory is valued at the lower of cost and net realizable value with cost determined on a
weighted average basis.
(g) Tangible capital assets
Tangible capital assets, comprised of capital assets and capital works-in-progress, are
recorded at cost, net of capital asset disposals, write-downs and accumulated amortization.
Tangible capital assets are classified according to their functional use. Amortization is
recorded on a straight line basis over the estimated useful life of the asset commencing the
year after the asset is put into service. Donated tangible capital assets are reported at fair
market value at the time of donation.
Estimated useful lives are as follows:
Assets Category Useful Life Range
Land Improvements 15 to 30 years

Buildings 20 to 60 years
Machinery, Equipment and Vehicles 5 to 25 years
Roads 20 to 50 years
Underground and Engineered Structures 8 to 60 years
The City makes an annual allowance for machinery and equipment replacement in the Fire
Department based on a percentage of the estimated useful life of the equipment. The
annual allowance continues until such time as the equipment is replaced.
(h) Budget figures

The budget figures presented are from the City's five year financial plan for the years 2016-
2020, adopted by Council on May 9, 2017. These figures reflect subsequent amendments
made by Council to reflect changes in the budget throughout the year.
(i) Investments
Investments are recorded at cost.
(j) Long-term Debt

Long-term debt is recorded net of any related sinking fund balances. Debt service charges,
including principal and interest, are charged against current revenue in the period in which
they occur.
22
1. Significant Accounting Policies (continued)

(k) Use of estimates
The preparation of financial statements in accordance with Canadian Public Sector
Accounting Standards requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities and disclosure of contingencies at the date of
the financial statements. Significant areas requiring use of management estimates relate to
the determination of landfill post closure costs and municipal pension plan obligation. Such
estimates are periodically reviewed and any adjustments necessary are reported in earnings
in the period in which they become known. Actual results could differ from these estimates.
2. Cash and Short Term Investments

2018 2017
Cash $13,666,592 $11,320,941
Short term investments 2,259,000 1,000
$15,925,592 $11,321,941
Short term investments include term deposits and units in Municipal Finance Authority
pooled investment money market and bond funds. The effective interest rate yields are
0.75%-3.0%. Investments are recorded at cost and adjusted to reflect accrued income.
The City has a $4 million line of credit commitment from a financial institution.
3. Accounts Receivable
2018 2017
Taxation $ 555,801 $ 876,475
Utilities 319,539 351,960
Other Governments 841,498 4,233,909
Trade Receivables 2,387,477 310,260
Wildfire claim - 791,871
$ 4,104,315 $ 6,564,475
4. Investments
City investments include: 2018 2017
Williams Lake Municipal Cemetery Care Fund (In Trust) $ 60,409 $ 60,409
Williams Lake Community Forest LP 1,239,893 987,036
$ 1,300,302 $ 1,047,445
WL Community Forest LP
The City purchased an interest in WLCF General Partner Ltd. in 2014 for a $1. The City
along with the Williams Lake Indian Band, is an equal partner in the WL Community Forest
Limited Partnership (“WLCF”).
23
4. Investments (cont.)
Allocations of future WLCF cash distributions to the partners will be determined by the
Board of Directors of WLCF General Partner Ltd. in accordance with the WLCF partnership
agreement. The partners’ intend that the City and the Band fully recover their development
expenditures from available WLCF cash flow. The final financial statements for the WLCF
were not available at the time of reporting therefore the carrying value of the investment is
not certain. It is however expected that the carrying value is greater then what the City has
recorded.
5. Accounts Payable and Accrued Liabilities
2018 2017
Trade Payables $ 886,769 $ 841,335

Accrued Interest Payable 137,869 137,390
Wages Payable 545,948 491,889
$ 1,570,586 $ 1,470,614
6. Due to Other Governments
2018 2017
Government of Canada $ 896,085 $ 866,488

Cariboo Regional District 1,169,523 1,039,523
Other (2,517) 3,355
$ 2,063,091 $ 1,909,366
7. MFA Debt Reserve
The Municipal Finance Authority ("MFA") of British Columbia provides capital financing for
regional districts and their member municipalities. The MFA is required to establish a Debt
Reserve Fund. Each regional district, through its member municipalities who share in the
proceeds of a debt issue, is required to pay into the Debt Reserve Fund certain amounts set
out in the debt agreements. The MFA pays these monies into the Debt Reserve Fund from
which interest earned thereon, less administrative expenses, becomes an obligation to
the regional districts. The MFA must use this fund, if at any time there are insufficient funds,
to meet payments on the debt obligations. When this occurs the regional districts may be
called upon to restore the fund.
24
7. MFA Debt Reserve (cont.)
Upon the maturity of a debt issue the unused portion of the Debt Reserve Fund established
for that issue will be repaid to the Municipality. The proceeds from these discharges will be
credited to income in the year they are received.
8. Prepaid Taxes and Deposits

2018 2017
Prepaid Taxes $ 571,643 $ 565,473

Subdivision/Development Deposits 161,485 141,972
Deferred Revenue - City 500,978 555,853
Deferred Credits - Water/Sewer 21,709 42,592
Deferred Revenue - Complex 85,160 87,094
$ 1,340,975 $ 1,392,984
9. Deferred Revenue
Development Cost Charges
Development cost charges are restricted revenue liabilities representing funds received from
developers and deposited into a separate reserve fund for capital expenses. In accordance
with Canadian Public Sector Accounting Standards, the City records these funds as
restricted revenue which is then recognized as revenue when the related costs are incurred.
2016 Receipts Interest Transfers 2017
Roads 874,529 (397,746) 27,193 506,046 1,010,022

Sanitary Sewer $ 284,479 $ (12,773) $ 6,300 $ 36,037 $ 314,043
Storm Sewer 479,108 (84,994) 12,007 133,066 539,187
Water 350,417 (168,964) 10,886 201,717 394,056
$1,988,533 $ (664,477) $ 56,386 $ 876,866 $ 2,257,308
Grants
2018 2017
BC MoCSCD Restricted Grant - 448,731
The BC Ministry of Community, Sport and Cultural Development funded the grant for the
purposes of upgrading parks and trails. The City has plans to utilize the funds by the end of
fiscal year 2018 subject to the Province approving a revised City project.
25
10. Long Term Debt
2018 2017
General debenture debt 9,660,981 10,363,837

Sewer debenture debt 291,006 437,652
Water debenture debt 316,186 473,193
$ 10,268,173 $ 11,274,682
Debt charges, including principal and interest, are recorded as current expenditures.
Payments for principal and interest over the next 5 years are as follows:
General Water Sewer Total

2019 1,159,300 96,376 94,229 1,349,905
2020 1,157,823 96,376 77,489 1,331,688
2021 1,156,307 62,262 58,545 1,277,114
2022 1,154,752 - - 1,154,752
2023 1,153,160 - - 1,153,160
Maturity dates on the long-term debt range from 2018 to 2031. The debt interest expense
for 2018 was $646,351 (2017: $744,983). Interest rates on long-term debt range from
1.55% to 6.0%.
11. Prepaid Expenses and Inventory

2018 2017
Prepaid Expenses $ 73,999 $ 111,463
Inventories:
General 324,274 302,494

Water 95,518 81,736
Sewer 27,892 22,575
Airport 52,699 58,099
.
$ 500,383 $ 464,904
26
12. Operating Fund Surplus - General Revenue Fund
2018 2017
The city has appropriated surpluses as follows:
Unallocated $ 919,340 $ 997,047

Appropriated for future expenditures 4,299,357 2,893,908
Appropriated for Equipment Replacement - -
$ 5,218,697 $ 3,890,955
13. Contingent Liabilities
(a) The City, as a member of the Cariboo Regional District (CRD) is jointly and severally liable to
the Municipal Finance Authority for repayment of the debt of all the municipalities in the
CRD.
(b) The City has been advised by the Federal Department of Fisheries and Oceans that certain
storm sewer outfalls into the Williams Lake River are not in compliance with the Fisheries
Act. The last two phases of a six phase project will be completed as funding permits. There
is no identified timeline.
(c) The City routinely receives claims and is a defendant in lawsuits. The City reviews any
claims or potential claims made against it to determine if it is covered by insurance, and if
not, whether a claim could be successfully defended.
The City's management is not aware of any claims or potential claims, that if not successfully
defended, would have a material effect on the consolidated financial statements.
27
14. Commitments
(a) Equipment Leases
The City has three operating leases as of December 2015. The lease agreements began in
2015 and are for a term of five (5) years. Two (2) photocopiers were leased in December
2015 and a Neopost folding machine was leased in January 2015.
Payments for principal and interest over the next 5 years are as follows:
2018 $10,900
2019 $10,900
2020 $7,971
(b) Purchase and service contracts
The City enters into a variety of purchase and service contracts with suppliers that enable
the City’s delivery of municipal services. The significant purchase contracts include RCMP
policing (2018 - $2,715,034; 2017 - $3,119,168) and waste management services pickup
(2018 - $496,366; 2017 - $502,140) and transfer/landfill (2018 - $828,843; 2017 -
$679,117). The City also enters into agreements to deliver services on behalf of other
governments. The significant service delivery contract is with the Cariboo Regional District
for fire protection (2018 - $577,254; 2017 - $566,564). Similar purchase and service
contracts are expected for 2019.
15. Pension Liability
The City and its employees contribute to the Municipal Pension Plan (a jointly trusteed
pension plan). The board of trustees, representing plan members and employers, is
responsible for administering the plan, including investment of the assets and administration
of benefits. The plan is a multi-employer defined benefit pension plan. Basic pension
benefits are based on a formula. As at December 31, 2015, the plan has about 189,000
active members and approximately 85,000 retired members. Active members include
approximately 37,000 contributors from local governments.
Every three years, an actuarial valuation is performed to assess the financial position of the
plan and adequacy of plan funding. The actuary determines an appropriate combined
employer and member contribution rate to fund the plan. The actuary's calculated
contribution rate is based on the entry-age normal cost method, which produces the long-
term rate of member and employer contributions sufficient to provide benefits for average
future entrants to the plan. This rate is then adjusted to the extent there is amortization of
any funding deficit.
The most recent valuation for the Municipal Pension Plan as of December 31, 2015,
indicated a $2,224 million funding surplus for basic pension benefits on a going concern
basis.
The next valuation will be as at December 31, 2018 with results available in 2019.
28
15. Pension Liability (continued)
Employers participating in the Plan record their pension expense as the amount of employer
contributions made during the fiscal year (defined contribution pension plan accounting).
This is because the plan records accrued liabilities and accrued assets for the plan in
aggregate, resulting in no consistent and reliable basis for allocating the obligation, assets
and cost to the individual employers participating in the Plan.
The City paid $584,347 (2017 - $570,999) for employer contributions to the plan in fiscal
2018.
16. Financial Instruments
(a) Fair Value
Assets and liabilities designated as available for sale include cash, investments, accrued
interest, amounts due to other governments, and long-term debt and are measured in the
statement of financial position at fair value. The fair value for accounts receivable, accounts
payable, and accrued liabilities approximates their carrying value due to the relatively short-
term to maturity of these instruments.
(b) Interest Rate Risk
The City is exposed to interest rate risk on its long-term debt as the interest rates are reset
periodically by the Municipal Finance Authority.
(c) Credit Risk
The City is not subject to significant credit risk associated with its financial instruments.
17. Taxes Collected For Other Governments
2018 2017
Provincial Government - School $ 1,660,877 $ 1,823,897

School District #27 2,380,256 2,388,605
Regional District 2,826,020 2,859,028
Regional District Hospital 1,166,631 1,161,452
Other 94,699 99,695
$ 8,128,483 $ 8,332,677
29
18. Expenses by object on a consolidated basis
2018 2017
Wages and Benefits $ 8,446,110 $ 8,052,407

Vehicle Charges 624,068 624,068
Goods and Services 13,666,266 16,647,206
Interest Payments 646,351 732,022
Amortization 4,048,651 4,054,644
$ 27,431,446 $ 30,110,347
19. Tangible Capital Assets
Balance, Beginning of Additions Disposals Balance, End of Year

Year
General 120,936,303 3,507,252 - 124,443,555
Water 24,439,853 757,997 - 25,197,850
Sewer 28,656,513 216,166 - 28,872,679
Airport 20,020,895 100,470 - 20,121,365
$ 194,053,564 $ 4,581,885 $ - $ 198,635,449
Accumulated Amortization Amortization Amortization on Disposals Accumulated Amortization

Beginning of Year End of Year
General $ 50,271,409 $ 2,134,351 $ - $ 52,405,760
Water 12,315,856 567,932 - 12,883,788
Sewer 11,331,372 479,068 - 11,810,440
Airport 13,806,191 867,300 - 14,673,491
$ 87,724,828 $ 4,048,651 $ - $ 91,773,479
Net book Value Net book Value

December 31, 2016 December 31, 2017
General $ 70,664,894 $ 72,037,795

Water 12,123,997 12,314,062
Sewer 17,325,141 17,062,239
Airport 6,214,704 5,447,874
$ 106,328,736 $ 106,861,970
During the year, the amount of write-downs recognized is $NIL (2016 - $NIL).
30
20. Landfill Remediation Closure and Post Closure Costs
The Cariboo Regional District (CRD) operates the Frizzi and Gibraltar landfill sites. The CRD
is responsible for closure and post closure care of these landfills under the Waste
Management Act of British Columbia. Once landfills are closed, post closure care is
estimated to continue for 25 years.
The City has recognized a 2018 expense of $130,000 (2017 - $130,000) related to these
costs. The City's share of the estimated liability increases as the landfill site’s capacity is
used and the City's accrued liability of $1169,523 (2017 - $1,039,523), represents the City's
estimated cost share to December 31, 2017. The City has a reserve of $544,000 (2017 -
$414,000).
The City's liability is based on CRD assumptions about the remaining service life of the
landfills. Changes in the liability could result from new technology, settling of waste,
regulatory requirements, inflation and interest rates. The CRD’s Solid Waste Management
Plan's future changes could be material and would be recognized prospectively as a change
in estimate.
21. Segmented Information
The City of Williams Lake is a diversified municipal government institution that provides a
wide range of services to its citizens. Distinguishable functional segments have been
disclosed separately in supplemental financial information. The nature of the segments and
the activities they encompass follows:
(a) Cemetery
This segment captures all of the revenues and expenses associated with Cemetery
operations including providing services to the public and maintenance of the cemetery
infrastructure.
(b) General Revenue

This segment includes all of the internal support service functions of the City. This includes
corporate administration, legislative and enforcement, protective services, community
development, environmental services, parks, recreation and leisure services, and solid waste
collection.
31
21. Segmented Information (Continued)
(c) Water Supply System
This segment includes the operating activities related to the treatment and distribution of
water throughout the City.
(d) Sewer System
This segment include operating activities related to the collection and treatment of
wastewater throughout the City including sanitary and storm sewer systems.
(e) Paratransit Utility
This segment includes the operating activities related to the transit system within the City.
(f) Airport
This segment includes all of the operating activities of the Williams Lake Regional Airport.
22. Contaminated Sites
Liability for Contaminated Sites
In June 2010, the Public Sector Accounting Board (PSAB) issued PS 3260 Liability for
Contaminated Sites to establish recognition, measurement and disclosure standards for
liabilities associated with the remediation of contaminated sites. PS 3260 is effective for
fiscal years beginning on or after April 1, 2014.
City management has determined there is no effect of the section on its consolidated
financial statements. No major City property, including lands, buildings or structures, has
been identified that would require recognition of a liability under PS 3260 as at December 31,
2015. Management estimates that any PS 3260 liabilities that may be recognized after 2015
would not be material.
23. Comparative figures

Some of the comparative figures have been reclassified to conform with current year's
presentation.
32
CITY OF WILLIAMS LAKE Schedule A
General Capital and Loan Fund

Balance Sheet
Assets 2018 2017

Capital, net of accumulated amortization (note 19)
Work in Progress $ 1,326,524 $ 595,428
Land 27,555,395 27,519,571
Land Improvements 1,220,497 1,378,175
Buildings 10,434,282 10,788,621
Roads 21,529,523 20,600,290
Engineered structures 6,382,796 6,458,993
Equipment 3,588,777 3,323,815
Total Assets $ 72,037,794 $ 70,664,893
Liabilities
Debenture Debt
Debt bylaw 1936 CRD $ 427,110 $ 482,209
Debt bylaw 1937 CRD 247,703 273,552
Debt bylaw 1989 CRD 284,859 314,585
Debt bylaw 1988 CRD 1,203,630 1,312,991
Debt bylaw 2003 CRD 437,684 477,451
Debt bylaw 2006/2067 CRD 4,468,944 4,756,947
Debt bylaw 2050 CRD 386,767 414,342
Debt bylaw 2108 CRD 2,204,284 2,331,759
Debt bylaw 2140 CRD
9,660,981 10,363,836
Other debt
Loan - Lot purchase - -
Interim Financing - -
- -
Total Liabilities 9,660,981 10,363,836
Equity in Tangible Capital Assets

Balance, beginning of year 60,301,057 62,739,709
Actuarial adjustments 171,736 146,921
Payments on debenture and other debt 531,120 529,650
Tangible capital assets provided by general fund (Schedule Q) 3,507,251 2,035,540
Adjustment for Asset Removed - (3,134,547)
Amortization (2,134,351) (2,076,216)
Equiity Adustment - -
Interim financing - 60,000
Balance, end of year 62,376,813 60,301,057
Total Liabilities and Equity in Tangible Capital Assets $ 72,037,794 $ 70,664,893
33
CITY OF WILLIAMS LAKE Schedule B
Reserve Funds
Balance Sheet
General Tax Sale Development 2018 2017

Capital Reserve Cost Charge
Reserve
Assets:
Accounts Receivable $ - $ (34) $ - $ (34) $ 445
Inventory (Land for Sale) - 26,700 - 26,700 26,700
Due from other Funds 7,607 - 2,257,309 2,264,916 1,996,016
Total Assets $ 7,607 $ 26,666 $ 2,257,309 $ 2,291,582 $ 2,023,161
Liabilities and Fund Balances:
Liabilities
Due to other Funds $ - $ 1,967 $ - $ 1,967 $ 2,446
- 1,967 - 1,967 2,446
Fund Balances
Balance, beginning of year 7,482 24,699 1,988,533 2,020,714 1,845,338
Charges collected - - (664,476) (664,476) 23,985
Interest earned 125 - 56,386 56,511 21,392
Transfers from other funds
- General revenue fund - - 876,866 876,866 130,000
Balance, end of year 7,607 24,699 2,257,309 2,289,615 2,020,715
Total Liabilities and Fund Balances $ 7,607 $ 26,666 $ 2,257,309 $ 2,291,582 $ 2,023,161
34
CITY OF WILLIAMS LAKE Schedule C
Cemetery Care Fund

Balance Sheet
Assets 2018 2017
Due from General Revenue Fund $ 270,352 $ 257,408

Investments, at cost plus accrued interest 60,409 60,409
Total Assets $ 330,761 $ 317,817
Liabilities and Surplus
Liabilities $ - $ -
Surplus
Balance, beginning of year 317,817 296,166
Add: Cemetery Care Payments 6,775 20,334

Investment Income 6,169 1,317
Contribution to general revenue - -
12,944 21,651
Balance, end of year 330,761 317,817
Total Liabilities and Surplus $ 330,761 $ 317,817
35
CITY OF WILLIAMS LAKE Schedule D
General Revenue Fund

Balance Sheet
Assets 2018 2017
Cash (including short-term investments $ 15,895,472 $ 11,303,054

Taxes Receivable 555,802 876,475
Due from other funds 12,410,586 11,783,024
Due from federal government 172,607 165,619
Due from provincial government 519,520 4,632,176
Other accounts receivable 2,387,477 308,990
Investments 1,239,893 987,036
Inventories 324,274 302,494
Prepaids 73,999 111,463
Other Assets 681,004 646,510
Total Assets $ 34,260,634 $ 31,116,841
Liabilities
Due to regional and other governments 2,063,092 $ 1,909,367

Due to other funds 23,487,467 21,422,690
Other accounts payable 1,521,228 1,896,927
Other liabilities 1,970,150 1,996,902
Surplus
Unrestricted surplus, end of year 919,340 997,047

Appropriated Surplus 4,299,357 2,893,908
Machinery and Equipment Replacement Reserve - -
Total surplus (note 13) 5,218,697 3,890,955
Total Liabilities and Surplus $ 34,260,634 $ 31,116,841
36
CITY OF WILLIAMS LAKE Schedule E

Statement of Revenue and Expenditure
Revenue 2018 2018 2017

Budget
Taxes $ 12,870,179 $ 12,810,880 $ 12,411,570

Grants in lieu of taxes 147,197 151,983 149,323
Services provided to other 2,900,290 3,112,888 2,707,166
governments
General sale of services 68,400 85,065 73,641
Recreation and cultural 1,128,352 1,462,052 889,852
services
Other revenue from own 2,443,140 2,103,956 2,052,839
sources
Disaster relief - 85,759 791,871
Interest 167,445 1,281,993 968,312
Grants and transfers from 2,520,697 2,244,233 2,435,377
other governments
Total Municipal Revenue 22,245,700 23,338,809 22,479,951
Expenditures
General government 1,906,658 1,935,041 1,969,861

services
Protective Services 5,818,063 5,212,065 6,559,556
Development services 652,181 650,221 624,094
Transportation services 2,579,247 2,765,143 2,302,095
Garbage collection 1,488,535 1,510,117 1,609,139
Shared services 95,117 85,967 84,694
Cemetery 84,274 88,756 72,051
Economic development 142,722 162,541 86,423
Recreation and cultural 4,029,927 4,479,710 3,984,289
services
Debt charges and interest 629,620 559,120 619,434
Other fiscal services 21,000 32,175 37,286
Disaster - 85,912 791,871
Total Expenditures $ 17,447,344 17,566,768 18,740,793
Excess of revenue over $ 4,798,356 $ 5,772,041 $ 3,739,158

expenditures
37
CITY OF WILLIAMS LAKE Schedule F
Water Supply System - Capital and Loan Fund

Balance Sheet
Assets 2018 2017
Due from water revenue fund $ 4,658,080 $ 3,993,364
Work in progress 607,225 172,737

Land 468,703 468,703
Land improvements 4,038 4,712
Buildings 626,531 647,470
Transmission and distribution 9,758,095 10,221,125
Equipment 849,470 609,250
12,314,062 12,123,997
Total Assets $ 16,972,142 $ 16,117,361
Liabilities and Equity
Liabilities
Due to General Revenue Fund $ 4,658,079 $ 3,993,364

Debenture Debt 316,187 473,194
Equity in Tangible Capital Assets

Debenture principal payments/matured 70,165 70,165
Actuarial additions 79,563 79,563
Amortization (567,932) (568,526)
Capital expenditure provided water revenue fund 664,716 1,048,998
Total Liabilities and Equity $ 16,972,142 $ 16,117,361
38
CITY OF WILLIAMS LAKE Schedule G
Water Supply System - Revenue Fund

Balance Sheet
Assets 2018 2017
Accounts receivable $ 271,355 $ 216,743

Due from general revenue fund 8,758,604 7,956,722
Trust and other deposits - M.F.A. 89,988 122,664
Total Assets $ 9,215,465 $ 8,377,865
Liabilities
Deferred revenue - other $ 52,800 $ 52,800

Due to water capital fund 4,658,080 $ 3,993,366
Deferred credits for South Lakeside Water 12,445 24,417
Accrued interest payable 10,111 10,110
4,733,436 4,080,693
Other liabilities
M.F.A. debt reserve fund
Demand note requirements 47,190 79,869

Cash requirements 42,798 42,795
89,988 122,664
4,823,424 4,203,357
Surplus

Excess of revenue over expenditures for the year (schedule H) 952,413 1,103,443
Deduct - Transfer for debt principal payments (70,164) (70,165)
Transfer to water capital fund (664,716) (1,048,998)
Total Surplus 4,392,041 4,174,508
39
CITY OF WILLIAMS LAKE Schedule H
Water Supply System - Revenue Fund

Statement of Revenue and Expenditures
Revenue 2018 2018 2017

Budget
Water rates $ 2,295,000 $ 2,248,077 $ 2,363,037

Connection fees 9,000 8,016 6,197
Parcel and local improvement taxes 205,000 199,963 198,629
Penalties 10,000 3,520 12,795
Interest and Sundry 45,000 105,080 47,706
Total Revenue 2,564,000 2,564,656 2,628,364
Expenditures
Administration and billing 552,082 554,285 515,496

Chlorination and Fluoridation 39,732 65,344 40,838
Maintenance and transmission 437,330 367,614 379,222
Pumping and power 663,187 579,025 529,230
Debt Charges - Interest 45,223 45,222 59,277
Other fiscal services 3,000 753 858
Total Expenditures 1,740,554 1,612,243 1,524,921
Excess of revenue over expenditures $ 823,446 $ 952,413 $ 1,103,443

(Schedule G)
40
CITY OF WILLIAMS LAKE Schedule I
Sewer System - Capital and Loan Fund

Balance Sheet
Assets 2018 2017
Due from Sewer Revenue Fund $ 7,869,194 $ 7,653,030
Work in progress 4,498,900 4,637,366

Land 257,740 257,740
Improvements 11,204 11,977
Buildings 309,174 183,131
Transmission and distribution 11,446,724 11,738,796
Equipment 538,497 496,131
17,062,239 17,325,141
Total Assets $ 24,931,433 $ 24,978,171
Liabilities and Equity
Liabilities
Due to general revenue fund $ 7,869,194 $ 7,653,029
Debenture debt 291,006 437,652
Equity in Capital Assets

Debenture principal payments 65,695 65,695
Actuarial additions 80,950 74,172
Amortization (479,068) (473,813)
Capital expenditure provided sewer fund 216,166 2,923,876
Total Liabilities and Equity $ 24,931,433 $ 24,978,171
41
CITY OF WILLIAMS LAKE Schedule J
Sewer System - Revenue Fund

Revenue 2018 2018 2017

Budget
Sewer Rates $ 1,485,000 $ 1,491,808 $ 1,496,346

Connection Fees 2,500 1,071 1,462
Parcel and Local Improvement taxes 357,003 356,835 353,964
Penalties 10,000 5,018 12,026
Government grant 168,000 23,913 1,838,189
Interest and sundry 25,000 61,569 53,109
Total Revenue 2,047,503 1,940,214 3,755,096
Expenditures
Administration 491,483 462,015 424,362

Collection System 387,638 215,227 288,399
Lift Stations 29,363 18,716 9,729
Treatment and Disposal 151,729 133,302 91,208
Debt Charges - Interest 53,311 42,009 53,311
Other fiscal Services 2,000 1,458 799
Total Operating Expenses 1,115,524 872,727 867,808
Excess of revenue over expenditures $ 931,979 $ 1,067,487 $ 2,887,288

(Schedule K)
42
CITY OF WILLIAMS LAKE Schedule K
Sewer System - Revenue Fund

Balance Sheet
Assets 2018 2017
Cash $ - $ -
Accounts Receivable 143,944 135,217
Due from General Revenue Fund 12,193,599 11,212,545
Trust and Other Deposits - M.F.A. 88,154 114,308
Total Assets $ 12,453,589 $ 11,484,645
Liabilities
Due to Sewer Capital Fund $ 8,628,314 $ 8,412,148

Deferred Credits for South Lakeside Sewer 9,264 18,176
Accrued interest payable 8,593 8,593
8,646,171 8,438,917
Other Liabilities
M.F.A. Debt Reserve Fund

Demand note requirements - -
Cash requirements - -
MFA - Trust and Surplus 88,154 114,308
8,734,325 8,553,225
Surplus
Excess of revenue over expenditures for the year (Schedule J) 1,067,487 2,887,288
Deduct: Transfer for debt principal payments (65,696) (65,696)
Transfer to sewer capital fund (213,947) (2,923,876)
43
CITY OF WILLIAMS LAKE Schedule L
Paratransit Utility Fund

Balance Sheet
Assets 2018 2017
Due from General Fund $ - $ -

Accounts Receivable - -
Total Assets $ - $ -
Liabilities
Due to general revenue fund $ (717) $ 7,721
Total Liabilities (717) 7,721
Surplus
Balance, beginning of year (7,721) (3,368)

Excess (Deficiency) of revenue over expenditures per 8,438 (4,353)
Schedule M
Balance, end of year 717 (7,721)
Total Liabilities and Surplus $ - $ -
44
CITY OF WILLIAMS LAKE Schedule M
Paratransit Utility Fund

Revenue 2018 2018 2017

Budget
Fares $ 103,471 $ 111,159 $ 103,525

Advertising - 2,880 1,193
Interior Health Reimbursement 55,000 65,244 62,137
Cariboo Regional District Reimbursement 39,000 10,000 10,000
Williams Lake Band Reimbursement - 30,000 28,949
Taxation 450,000 456,539 449,379
Federal Grant 1,000 1,093 1,092
Municipal Administration 13,800 14,478 14,091
Interest - (150) 975
662,271 691,243 671,341
Expenditures
BC Transit Payments 645,648 669,005 661,894

Taxi Saver Program 13,800 13,800 13,800
659,448 682,805 675,694
Excess (Deficiency) of revenue over $ 2,823 $ 8,438 $ (4,353)

expenditures (Schedule L)
45
CITY OF WILLIAMS LAKE Schedule N
Airport Capital Fund

Balance Sheet
Assets 2018 2017
Work in progress $ 185,095 $ 110,381

Land 87,962 87,962
Land Improvements 4,466,556 5,218,183
Buildings 41,828 53,615
Roads 20,031 24,139
Engineered Structures 64,529 65,713
Equipment 581,873 654,711
Total Assets $ 5,447,874 $ 6,214,704
Liabilities and Equity in Capital Assets
Liabilities $ - $ -

Deduct - Amortization (867,300) (866,443)
Transfers from Airport Revenue Fund 100,470 -
Total liabilities and equity $ 5,447,874 $ 6,214,704
46
CITY OF WILLIAMS LAKE Schedule O
Airport Revenue Fund

Balance Sheet
Assets 2018 2017
Due from general revenue fund 877,100 632,697

Accounts receivable $ 149,371 $ 227,985
Total Assets $ 1,079,170 $ 918,782
Due to general revenue fund $ - $ -

Deferred revenue 42,836 -
42,836 -
Surplus
Balance, beginning of year 918,782 457,736

Add: Operating Surplus (Schedule P) 187,348 461,046
Surplus transfer in 30,674
Deduct: Transfer to Airport Capital (100,470) -
Balance, end of year 1,036,334 918,782
Total Liabilities and Surplus $ 1,079,170 $ 918,782
47
CITY OF WILLIAMS LAKE Schedule P
Airport Revenue Fund

Revenue 2018 2018 2017

Budget
Landing Fees $ 70,000 $ 107,327 $ 225,410

Per Passenger Fee 480,000 505,390 522,240
Fuel Sales 800,000 1,165,556 1,273,618
Other Revenue 598,200 396,267 407,019
1,948,200 2,174,540 2,428,287
Expenditures
Administration 196,067 242,154 193,437

Common Services 43,782 23,107 26,636
Mechanical Shop Maintenance 34,656 10,745 19,815
Building Maintenance 137,955 149,974 141,913
Electrical Maintenance 27,239 18,543 14,348
Airside Maintenance 210,848 240,466 170,007
Ground side Maintenance 98,176 154,972 136,471
Fuel Concession 781,185 1,147,201 1,264,614
Storm Sewer Maintenance - 30 -
Water Sewer Maintenance - - -
Sewer System Maintenance - - -
Total Operating Expenses 1,529,908 1,987,192 1,967,241
Excess (Deficiency) of revenue over $ 418,292 $ 187,348 $ 461,046

expenditures (Schedule O)
48
CITY OF WILLIAMS LAKE Schedule Q

Capital Asset Contributions to General Capital and Loan Fund
2018 2018
Budget Actual
Administration and Information Technology

Information Technology Upgrades $ 25,000 $ 21,870
Electornic Timesheets 25,000 -
EOC Laptops 25,000 23,210
Community Wildfire Protection Plan TBD 2018 52,000 52,000
127,000 97,080
Fire Department
Self Contained Breathing Apparatus 75,000 49,792
Light Fire Truck 55,000 64,645
Tender Truck 194,611 37,185
324,611 151,622
Facilities
Replace wooden statues 5,000 2,742
Properties Acquisition 250,000 76,400
New Lights - Downtown Fixtures abd Boitanio Park - -
City Hall Generator 10,000 -
TDC Basement Renovations - 3,445
Crematorium rebricking 61,584 45,248
326,584 127,835
Transportation Services
Tandem truck 300,000 -
Combination Box/Sander 125,000 139,538
Facility and Roads Condition Assessment 125,000 61,400
Crosswalk Upgrades 50,000 49,593
Pickup Replacement 60,000 6,661
Pavement rehabilitation 2,370,537 1,748,341
Loader 22,069 22,069
Turf Sweeper - -
Storm Drain Modelling & Master Plan - -
Hook Truck Equipment Replace 191,192 191,192
2 1/2 Ton Pickup Replacement 85,589 85,589
Storm Water Religning 248,379 248,379
River Valley Storm Outfall - Phase 4 519,267 463,173
CN Rail Crossing - -
River Trail Development 604,250 17,416
- -
4,701,283 3,033,351
Parks Capital Projects
49
BC Rail Property Acquisition 75,000 69,409
Kiwanis Park - Tennis Court Resurfacing - -
Kiwanis Green Space - -
Rural Dividend Agreement - Heritage 449,401 27,954

Stampede Grounds Entry Sign - -
524,401 97,363
Total Additions $ 6,003,879 $ 3,507,251
50
CITY OF WILLIAMS LAKE Schedule R

Downtown Parking Commission Reserve Account - Revenue and Expenditures
Revenue 2018 2018 2017

Budget
Taxes $ 45,899 $ 45,899 $ 45,899

Space Rentals 20,000 21,159 22,580
Interest 2,000 - 1,344
67,899 67,058 69,823
Expenditures
Lot Maintenance and beautification 14,000 12,836 9,424

Capital - - -
14,000 12,836 9,424
Excess (Deficiency) of revenue over 53,899 54,222 60,399

expenditures
Reserve balance, beginning of year 245,226 245,226 184,827
Reserve balance, end of year $ 299,125 $ 299,448 $ 245,226
51
CITY OF WILLIAMS LAKE Schedule S

Sam Ketchum Pool Operations
Revenue 2018 2018 2017

Budget
User Fees $ 425,152 $ 722,041 $ 254,730

Cariboo Regional District 2,014,912 2,197,835 1,800,026
Total Revenue 2,440,064 2,919,876 2,054,756
Expenditures
Administration 488,833 577,316 486,552

Programs 533,753 755,927 389,558
Grounds Maintenance 18,700 38,300 27,972
Building Maintenance 991,632 1,208,861 1,022,975
Capital Purchases 550,000 414,203 72,844
Total Expenditures 2,582,918 2,994,607 1,999,901
Excess of revenue over expenditures $ (142,854) $ (74,731) $ 54,855
52
CITY OF WILLIAMS LAKE Schedule T

Twin Ice Arena Operations
Revenue 2018 2018 2017

Budget
User Fees $ 415,615 $ 437,083 $ 397,451

Grants - - -
Cariboo Regional District 26,303 26,303 26,303
Total Revenue 441,918 463,386 423,754
Expenditures
Administration 12,000 27,806 18,453

Programs 10,097 18,756 11,187
Building Maintenance 196,350 267,607 185,285
Equipment Maintenance 9,200 9,813 9,474
Capital Purchases 23,000 20,675 180,043
Gibraltar Room 40,563 44,226 38,177
Total Expenditures 291,210 388,883 442,619
Excess of revenue over $ 150,708 $ 74,503 $ (18,865)

expenditures
53
CITY OF WILLIAMS LAKE Schedule U

Leisure Programs
Revenue 2018 2018 2017

Budget
Program Revenue $ 287,585 $ 302,929 $ 237,671

Cariboo Regional District 101,130 98,987 98,987
Total Revenue 388,715 401,916 336,658
Expenditures
Program Administration 186,788 179,878 191,839

Preschool Programs 4,752 6,312 6,245
Children's Programs 23,786 35,907 30,445
Day Camp 54,200 49,533 34,885
Teen Programs 16,400 17,508 15,595
Adult Programs 27,500 34,519 27,588
Leadership Training 63,156 57,502 45,252
Special Events 17,844 20,378 19,838
Total Expenditures 394,426 401,537 371,687
Excess or revenue over expenditures $ (5,711) $ 379 $ (35,029)
54
Schedule of Debts
1. List of long term debts, stating the amount outstanding, the interest rate and the maturity date
Long Term Debts Amount Outstanding Interest Maturity

PUBLIC WORK DEBT BYLAW 1936 427,109.56 5.10% April 6, 2025
PUBLIC WORK DEBT BYLAW 1989 284,859.06 1.75% October 19,2026
PUBLIC WORK DEBT BYLAW 1988 1,203,630.39 2.25% April 4, 2027
PUBLIC WORK DEBT BYLAW 2003 437,683.76 2.25% December 21, 2027
PUBLIC WORK DEBT BYLAW 2050 386,766.72 4.90% June 3, 2029
WATER DEBT - BYLAW 1801 92,198.90 2.10% December 1, 2020
WATER DEBT - BYLAW 1845 223,986.86 1.75% December 1, 2021
SEWER DEBT - BYLAW 1733 16,877.14 2.10% December 1, 2019
Total long term (A) 10,268,172.57
2. Sinking funds or reserves and the amounts that have accumulated in those accounts
Sinking funds or reserves Amount

TRUST DEPOSIT - M.F.A. $ 650,884.08
Total: $ 829,026.79
3. Reconciliation
(A) Total Long Term Debt $ 10,268,172.57
Total Debt $ 10,268,172.57
The Consolidated Financial Statements ("FS") are prepared on a GAAP and functional versus object cost basis.
City debt, sinking funds or reserves listing above is complete and all its items are included in the
Consolidated Financial Statements.
55
Schedule of Guarantee and Indemnity Agreements
The City of Williams Lake has not given any guarantees or indemnities under
the Guarantees & Indemnities Regulation.
56
Schedule Showing Remuneration and Expenses Paid in Respect of Each Elected Official and Employee
1. Elected Officials
Name Position Remuneration Expenses

Boehm, S Councillor 974 480
Cobb, W. Mayor 43,688 7,052
Brenner, M Councillor 974 480
Bonnell, I. Councillor 15,240 3,327
Nelson, S. Councillor 15,240 4,112
Ryll, J. Councillor 15,240 9,803
Smith, C. Councillor 15,240 7,923
Walters, L. Councillor 14,266 1,744
Zacharias, S. Councillor 14,266 1,130
Total: Elected Officials $ 135,128 $ 36,050
2. Other Employees
Name Position Remuneration Expenses

Bouchard, C. Corporate Officer 108,035 7,152
Bernardy, J. Senior Engineer Technologist 81,421 3,679
Breck, D. Certified Electrician 80,673 326
Breck, G. Facility Maintenance Coordinator 92,491 4,609
Crosina, T. Facility Maintenance IV 87,307 208
Deane, G. Senior Building Inspector 87,774 2,232
Dickson, D. Manager of Community Safety 97,387 6,211
Engelberts, J. Manager of Utilities and Fleet 106,608 2,343
Fehr, W. Gardner/Foreman 82,604 2,162
Foote, B. Senior Bylaw Officer 85,382 4,573
Hartley, L. Director of Development Services 111,093 4,291
Flaspohler, J. Fire Prevention Officer 95,616 7,798
Kozubenko, V. Chief Financial Officer 136,547 2,194
Lussier, T. Airport Manager 90,859 183
Macdonald, M. Chief Administrative Officer 165,727 15,840
Mahood, P. Manager of Public Works 89,668 5,270
Muraca, G. Director of Municipal Services 125,093 8,607
Nadvi, H. Planner II 85,089 10,908
Novakowski, S. Facility Maintenance III 80,207 -
Olson, J. Chief Water/Sewer Treatment Plant Operator 76,807 244
Paynton, G. Director of Community Services 111,787 1,390
Philpot, C Airport Operator III 82,040 208
Skarra, D. Certified Mechanic Foreman 84,792 -
Sutherland, M. Streets Foreman 84,252 753
Thamerus, C Certified Equipment Operator III 76,565 642
Toews, K Utility Operator II 79,605 1,759
Walters, C. Municipal Services Coordinator 83,871 3,180
Warnock, R. Fire Training Officer 107,392 60
Williston, A. Director of Human Resources 109,149 2,296
Consolidated total of other employees with remuneration of $75,000 or less 5,134,228
Total: Other Employees $ 7,920,065 $ 99,120
3. Reconciliation
Total remuneration - elected officials $ 135,128

Total remuneration - other employees 7,920,065
Total $ 8,055,193
Remuneration includes salary, wages, overtime, vacation pay outs, disaster payments and taxable benefits paid in the fiscal year.
Expenses include travel, memberships, tuition, cell phone allowances, hiring expenses and boot and tool allowances
For example, severence payments to former employees of the City are presented differently in the FS.
The remuneration listing above is complete and all items are included in the Consolidated Financial Statements.
57
Statement of Severance Agreements
There were no severance agreements under which payment commenced between the City
of Williams Lake and its employees during 2018.
Prepared under the Financial Information Regulation, Schedule 1, Subsection 6(7)
58
Schedule Showing Payments Made for The Provision of Goods or Services

(page 1 of 3)
1. Alphabetical list of suppliers who received aggregate payments exceeding $25,000
Supplier Name Amount Paid
ACCESS GAS SERVICES INC. 39,762

BARTON INSURANCE BROKERS LTD. 157,191
BC ASSESSMENT AUTHORITY 94,452
BC HYDRO 1,037,030
BC TRANSIT 784,073
BELL MOBILITY 27,015
BLACK PRESS GROUP 58,299
BLOCKSRUS 38,221
BMO BANK OF MONTREAL 352,641
CARIBOO CHILCOTIN CONSERVATION SOCIETY 63,230
CARIBOO CHILCOTIN REGIONAL HOSPITAL DIST 1,172,243
CARIBOO GM 91,929
CARIBOO REGIONAL DISTRICT 3,747,697
CARIBOO REGIONAL DISTRICT (BYLAW) 1,313,332
CENTRAL CARIBOO DISPOSAL SERVICES LTD. 637,738
CENTRAL INTERIOR CONCRETE SERVICES LTD. 63,485
CHUCK'S AUTO SUPPLY LIMITED 28,984
CIVIC LEGAL LLP 51,631
CNH INDUSTRIAL CAPITAL CANADA LTD 40,798
CORIX CONTROLS SOLUTIONS LIMITED 56,270
CURT MORBEN CONTRACTING 588,342
EB HORSMAN & SON 45,372
EVERGREEN BUILDNG MAINTENANCE INC. 68,838
EXECUTIVE FLIGHT CENTRE FUEL SERVICES 163,978
FINNING (CANADA) 71,198
FORT FABRICATION & WELDING LTD. 27,250
FORT GARRY INDUSTRIES LTD. 40,153
FORTIS ENERGY INC. 111,578
FRASER BASIN COUNCIL 52,000
FRASER BEVZ BROUGHTON 31,515
FRASER VALLEY REFRIGERATION LTD. 66,458
FRED SURRIDGE LTD. 66,189
HARRISON INDUSTRIAL CONTRACTING LTD. 125,936
HOELZLER CONSTRUCTION LTD. 27,499
HORIZON CLIMATE CONTROLS 77,900
I-F.I.T. CONSULTING SERVICES 44,250
ICBC 50,673
INSITUFORM TECHNOLOGIES LIMITED 260,797
LAFARGE CANADA INC. 245,313
LAKE CITY FORD SALES INC. 215,962
M.H. KING EXCAVATING LTD. 93,304
MACKAY ELECTRIC LTD 54,048
59

(page 2 of 3)
1. Alphabetical list of suppliers who received aggregate payments exceeding $25,000
Supplier Name Amount Paid
MAINLINE ROOFING CO.LTD. 315,793

MOTION CANADA 26,204
MUNICIPAL INSURANCE ASSOCIATION OF BC 94,934
O-NETRIX SOLUTIONS INC. 196,509
OPERATIONS ECONOMICS INC. 60,677
PACT COMMERCIAL & SPECIALTY CLEANING LTD 45,861
PAK PUNJAB TRADING LTD. 34,158
PEAK SOLUTIONS CONSULTING INC 41,875
PETERS BROS. CONSTRUCTION LTD. 1,861,148
PETERSON CONTRACTING LTD. 104,240
PETROVALUE PRODUCTS CANADA INC 970,765
PITEAU ASSOCIATES 41,988
PRECISION SERVICE & PUMPS INC. 41,862
PREMIUM TRUCK & TRAILER INC. 211,867
QUALITY EXCAVATING & CONSTRUCTION 420,805
RECEIVER GENERAL FOR CANADA (RCMP) 4,061,909
RL7 MECHANICAL 99,465
RMA FUEL 199,424
ROCKY MOUNTAIN PHOENIX 145,846
SPCA 32,117
STAPLES #172 56,791
SUPERIOR CITY CONTRACTING SERVICES LTD. 117,055
TASCO SUPPLIES LTD. 75,301
TELUS COMMUNICATIONS (B.C.) INC. 64,533
TETRA TECH CANADA INC. 64,470
TRUE CONSULTING GROUP 172,289
URBAN SYSTEMS LTD. 120,505
VALKYRIE LAW CORPORATION 70,016
WESCLEAN EQUIPMENT & CLEANING SUPPLIES 27,195
WILLIAMS LAKE & DISTRICT CHAMBER OF 153,471
WILLIAMS LAKE CENTRAL BUSINESS 122,335
WILLIAMS LAKE STAMPEDE ASSOCIATION 25,101
WL TIRE & MECHANICAL LTD 26,303
YELLOWHEAD PAVEMENT MARKING INC. 88,597
Total aggregate amount paid to suppliers (A) 22,575,984

2. Consolidated total paid to suppliers who received aggregate payments of $25,000 or less
(B) 2,491,082
3. Consolidated total of all grants and contributions exceeding $25,000

(C) 112,600
60

(page 3 of 3)
4. Reconciliation
(A) Total Payments >$25,000 To Suppliers 22,575,984

add INTERNATIONAL UNION OF OPERT. ENGINEERS 127,527
(B) Total Payments Up To $25,000 To Suppliers 2,491,082
(C) Total Grants/Contributions >$25,000 (already in A above)
25,194,593
5. Alphabetical list of other payees (not suppliers) who received aggregate payments exceeding $25,000
RECEIVER GENERAL FOR CANADA (CPP) 289,897
RECEIVER GENERAL FOR CANADA (EI) 125,391
Supplier payments for capital assets, City debt, and tax collected for 3rd parties are presented differently in FS.
The payments listing above is complete and all its items are included in the Consolidated Financial Statements.
61

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CITY OF WILLIAMS LAKE

DATE OF REPORT: May 15, 2019

SECTION 1: EXECUTIVE SUMMARY

SECTION 4: DETAILED ANALYSIS

Statement of Financial Information

(Financial Information Act)

For Year Ended

December 31, 2018

Management Report ....................................................................................................................4

Audited Financial Statements .................................................................................................12

Schedule of Debts ......................................................................................................................55

Schedule of Guarantee and Indemnity Agreements...........................................................56

Schedule of Remuneration and Expenses Paid....................................................................57

Statement of Severance Agreements......................................................................................58

Schedule of Payments for Goods or Services.......................................................................59

Prepared under the Financial Information Regulation, Schedule 1, Section 9

On behalf of the City of Williams Lake,

Prepared under the Financial Information Regulation, Schedule 1, Section 9

Financial Information Act

Statement of Financial Information (SOFI)

Page 1: Corporation Information

General: Section One

Page 2: Statement of Assets & Liabilities: Section Two

Operational Statement: Section Three

Statement of Debts: Section Four

Page 3: Schedule of Guarantee and Indemnity Agreements: Section Five

Page 3 & 4: Schedule of Remuneration and Expenses: Section Six

Page 4: Schedule of Suppliers of Goods or Services: Section Seven

Page 5: Inactive Corporations: Section Eight

Approval of Financial Information: Section Nine

Access to the Financial Information: Section Ten

For the Ministry:

Distribution: Legislative Library Ministry Retention

1 (1) (b) Operational statement FS

1 (1) (c) Schedule of debts Attached Schedule and FS note 10

1 (1) (d) Schedule of guarantee and

1 (1) (e) Schedule of employee remuneration

1 (1) (f) Schedule of suppliers of goods and

1 (3) Statements prepared on a

1 (4) Notes to the financial statements for

Statement of Assets & Liabilities

2 • A balance sheet prepared in

3 (1) Prepared in accordance with GAAP

3 (2) • The Statement of Changes in

3 (4) Community colleges, school districts,

4 (1) (a) List each long-term debt (secured by

4 (1) (b) Identify debts covered by sinking

4 (3) • The schedule may be omitted if

5 (1) List financial agreements that

5 (2) State the entities involved, and the

5 (3) • The schedule may be omitted if

Schedule of Remuneration and Expenses

6 (2) (a) List separately, by name and

6 (2) (b) List alphabetically each employee

6 (2) (c) Include a consolidated total for

6 (2) (d) Reconcile or explain any difference

6 (3) Exclude personal information other

6 (6) Report the employer portion of EI

6 (7) (a) Include a statement of severance

• the range of equivalent months'

6 (8) Provide the reason for omitting a

Schedule of Suppliers of Goods or Services