|
CITY OF VANCOUVER Administrative Report |
Date: |
June 11, 2004 | |
Author: |
Terry Corrigan | |
Phone No.: |
7225 | |
RTS No.: |
04309 | |
CC File No. |
1503 | |
Meeting Date: |
June 22, 2004 |
TO: |
Vancouver City Council |
FROM: |
General Manager of Corporate Services/Director of Finance |
SUBJECT: |
City of Vancouver 2003 Statement of Financial Information |
RECOMMENDATION
THAT Council approve the City of Vancouver 2003 Statement of Financial Information for filing with the Ministry of Community, Aboriginal and Women's Services.
GENERAL MANAGER'S COMMENTS
The Financial Information Act requires municipalities to prepare a statement of financial information by June 30 each year to be filed with the Ministry of Community, Aboriginal and Women's Services. The Statement of Financial Information must be approved by Council.
CITY MANAGER'S COMMENTS
The 2003 Statement of Financial Information (limited distribution - on file in the City Clerk's Office) is presented to Council for approval as required under regulations to the Financial Information Act.
DISCUSSION
Financial Information Act (FIA) requires that municipalities prepare a Statement of Financial Information (SOFI) by June 30 each year. The SOFI must be in a form and contain information as prescribed by the Lieutenant Governor in Council. The SOFI must be filed with the Ministry of Community, Aboriginal and Women's Services as well as made available to the public.
The 2003 SOFI contains the audited consolidated financial statements that were received and considered by the City Services and Budgets committee at its meeting on April 22, 2004. In addition to the audited consolidated financial statements, the report contains the following schedules:
· Schedules of Debts and Guarantee and Indemnity Agreements
· Schedule of Remuneration and Expenses
· Schedule of Payments to Suppliers of Goods and Services
CONCLUSION
The SOFI has been prepared from the financial records of the City in accordance with the FIA and regulations. Approval and filing of the 2003 SOFI will satisfy the City's legislative obligations under the FIA and regulations.
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