ADMINISTRATIVE REPORT

Date: April 26, 2000
Author/Local: Estelle Lo/7610
RTS No. 01469

CC File No. 1503

CS&B: May 4, 2000

TO:	Standing Committee on City Services and Budgets
FROM:	General Manager of Corporate Services Group
SUBJECT:	1999 Financial Statements

RECOMMENDATION

THAT Council receive for information the City of Vancouver 1999 Financial Statements for the year December 31, 1999.

POLICY

The Director of Finance is required under Section 211 of the Vancouver Charter to advise Council on the financial position of the City. As well, Section 230 requires a firm of Chartered Accountants or Certified General Accountants to audit the accounts and transactions of the City and of every other administrative body.

PURPOSE

The 1999 Financial Statements are presented to Council for Council Information and to fulfill the legislative requirements of the Charter.

REPORT

The Financial Statements demonstrate that the City continues to maintain its strong financial position. The Report of the Director of Finance (limited distribution - on file in the City Clerk's Office) provides an overview of the financial highlights.

The City’s External Auditor, KPMG, will be present at the Committee meeting to speak to the 1999 Audit Program and answer any questions on the process and the Financial Statements.

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(c) 1998 City of Vancouver