Town of View Royal - Annual Report 2021
Detailed draft annual report covering strategic priorities, project outcomes for 2021, and consolidated financial statements.
STRATEGIC PRIORITY - FINANCIAL SUSTAINABILITY & SERVICE EXCELLENCE
GOALS:
- Confidence in the fiscal health and financial sustainability of the Town
- Diversified revenue base
- Predictable property tax and user fee increases
- Citizen satisfaction with services and value
| 2021 PROJECTS & INITIATIVES | OUTCOME |
|---|---|
| Complete Asset Management Plan, considering options to minimize infrastructure deficit | • Asset replacement funding plan report presented in June 2021. Long-term financial model to support Asset Management decisions and Asset Management Policy development are included in the 2022-2026 Financial Plan. |
| Develop Long-term Financial Plan that incorporates implications of Asset Management Plan and funding choices | • The project proposal is included in the 2022-2026 Financial Plan. Costs may be offset if further grant applications are approved. |
| Continue to improve relationships with the business community to build business friendly reputation - annual business mixer; Island-wide mobile business licence; online business licence renewals and applications; consider expanded Home Occupation definition; engage with South Island Prosperity Project annually | • Online business licence search and renewal functionality was launched in November 2020. Annual business mixer was cancelled in 2021 due to COVID-19. |
| Include future staffing level requirements for all five-years in the financial plan | • This is included in the 2022-2026 Financial Plan. |
[Photo: Electric Vehicle Charging Station at Town Hall]
STRATEGIC PRIORITY - GOOD GOVERNANCE
GOALS:
- Strong and active citizen participation in community engagement in Town of View Royal meetings, open houses, survey, budget development
- Strong constructive relationships with neighbouring municipalities, Songhees Nation, Esquimalt Nation, and in relations at the CRD
- Respectful, constructive Council relationships
| 2021 PROJECTS & INITIATIVES | OUTCOME |
|---|---|
| Explore partnership with West Shore Parks & Recreation Society for programming in View Royal’s parks and neighbourhoods | • Delayed to 2022 due to COVID-19. |
| Arrange intermunicipal events celebrating park connections between Colwood, Esquimalt, Langford, Saanich, CRD Parks and View Royal | • Delayed to 2022 due to COVID-19. |
| Develop an acknowledgement of traditional territories in Town of View Royal and develop policy regarding its use | • Complete. Policy 0100- 052 was approved by Council on February 16, 2021. Territorial acknowledgements are in place for Council meetings. |
| Develop Council code of conduct | • Complete. |
STRATEGIC PRIORITY - COMMUNITY SAFETY & SECURITY
GOALS:
- A real and perceived safe community
- Prepared for emergencies
| 2021 PROJECTS & INITIATIVES | OUTCOME |
|---|---|
| Increase Fire Department full time employees | • Complete. |
| Increase volunteer night shifts | • Complete. New schedule implemented in July 2021. |
LOOKING AHEAD - 2021-2024
[Photo: View Royal Welcome Sign]
Strategic Plan 2019-2022
We’re working together to make View Royal better everyday by focusing on what’s important to the citizens of our community, constantly improving how we do business and ensuring we plan for our future to build a strong, healthy, and thriving View Royal.
The Strategic Plan details what we heard from citizens about what is important to them and what they want the Town to do on their behalf. It is reviewed at least quarterly, with additional time spent as required to keep it current and update progress on specific projects.
The Strategic Plan outlines six key result categories, which describe the focus areas of our work to help us prioritize our efforts and resources, setting out specific goals with measures, targets, and planned timing for the work.
ENHANCE LIVEABILITY
Citizens told us they want to:
- Be able to move around the community efficiently;
- Have a range of housing options close to services;
- Participate in community events and have a sense of belonging;
- Celebrate View Royal’s unique history.
| Key strategic goals to Enhance Liveability in View Royal: | Timing: |
|---|---|
| Develop an Active Transportation Master Plan (after OCP is complete) | 2022-2023 |
| Develop a housing affordability strategy | 2022 |
| Engage a community events coordinator to enhance current events and/or devise new community-building initiatives | 2023 |
| Develop Helmcken Centennial Park Master Plan | 2022 |
COMMUNITY & ECONOMIC GROWTH
Citizens told us they want:
- Controlled growth;
- Implications of growth considered.
| Key strategic goals to enhance Community and Economic Growth in View Royal: | Timing: |
|---|---|
| Review home-occupation business licence program (after OCP complete) | 2022 |
| Placemaking Urban Design Plan to facilitate distinct identity for View Royal’s public realm | 2024-2025 |
ENVIRONMENTAL STEWARDSHIP
Citizens told us they want to:
- Focus on community action around climate change.
| Key strategic goals to enhance Environmental Stewardship in View Royal: | Timing: |
|---|---|
| Update and adopt an amendment to the 2012 Corporate Climate Action Plan | 2024 |
| By 2022, adopt Step 3 of Step Code for Part 9 buildings and Step 2 of Step Code for Part 3 buildings and transition to Step 5 of Step Code by 2030 | 2022 |
| Facilitate Step Code 3 implementation | 2022 |
| Review density bonusing as an incentive to achieve Step Code level in excess of minimum requirement | 2022 |
| Develop an Urban Forest Strategy | 2023 |
| Update the wildfire interface zone assessment and update development permit area guidelines accordingly (concurrent with OCP) | 2022 |
| Develop and implement a fuel load management program for wildfire interface zones | 2022 |
[Photo: Trail in Mellor Park]
[Photo: View Royal Park Bike Pump Track]
FINANCIAL SUSTAINABILITY & SERVICE EXCELLENCE
Citizens told us they want to:
- Receive good value for tax dollars;
- Fund the continuation of current service levels through taxation;
- Fund future large projects through putting aside funds annually.
| Key strategic goals to Financial Sustainability & Service Excellence: | Timing: |
|---|---|
| Develop an investment program (policy, contracts, relationships (Municipal Finance Authority)) to increase return on investments | 2022 |
| Include projected new market construction estimates in tax revenue for all years of the five year budget, based on development projections (View Royal) (primarily building permits) | 2022 |
| Develop a priority list for spending community amenity contributions through engagement with the community | 2022 |
GOOD GOVERNANCE
Citizens told us they want:
- Transparency in decision-making;
- Respectful meetings.
| Key strategic goals to enhance Good Governance in View Royal: | Timing: |
|---|---|
| Host at least one Council to Council event with each First Nation | 2022 |
| Host community training re. First Nations relationships, history and protocols | 2022 |
[Photo: Snowy Day at View Royal Town Hall]
COMMUNITY SAFETY & SECURITY
Citizens told us they want to:
- Live and work in a safe community prepared for emergencies.
| Key strategic goals to enhance Community Safety and Security in View Royal: | Timing: |
|---|---|
| Require every employee to complete at least one Justice Institute of BC Emergency Operations Centre course or equivalent | 2022 |
| Update Business Continuity Plan | 2022 |
| Update Emergency Response and Recovery Plan, based on new legislation | 2023 |
[Photo: View Royal Public Safety Building]
[Photo: Shoreline at Portage Linear Park]
FINANCIAL INFORMATION
Fiscal Year Ended December 31, 2021
INTRODUCTION
View Royal’s audited consolidated financial statements reflect the combined assets, liabilities, accumulated surplus, revenue and expense of all of its activities and funds, and include the proportionate share of the West Shore Parks and Recreation Society.
Council’s appointed auditors, MNP LLP, provided an unmodified opinion that the consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Town as at December 31, 2021 and the results of its operations and cash flows for the year then ended in accordance with Canadian public sector accounting standards. This opinion is expressed in the Independent Auditor’s Report presented to the Mayor and Council of the Town of View Royal dated May 3, 2022.
For 2021, although the Town continued to face financial pressures due mainly to the closure of the View Royal Casino for the first half of the year, the Town’s financial position and results of operations continue to be positive. Here are some of the highlights:
- The Town is sustaining its positive financial position. Net financial assets, the difference between financial assets and financial liabilities increased $1.8 million in 2021 to $15.6 million. This represents the funds available to meet its financial obligations as they come due;
- Annual surplus, which is the difference between revenue and expense in the year totaled $633 thousand resulting in an accumulated surplus of over $146 million. Much of this balance reflects the Town’s prudent investment in long-lived tangible capital assets which include roads, parks, buildings, equipment, and sewer and drainage infrastructure the Town uses to deliver its key services. The net book value of these assets totals $130.4 million with related debt equaling $5 million resulting in net equity in tangible assets of $125.4 million;
- Total reserves and surplus at the end of 2021 was $20.6 million. Most of these funds are governed by agreement or bylaw, meaning they can only be spent for specific purposes such as capital renewal or park improvements. Unrestricted surplus, representing funds available for operational and contingency funding total $4.9 million.
Town of View Royal Statement of Financial Information Approval
As at December 31, 2021
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.
Dawn Christenson, BAccS, CPA, CGA Director of Finance June 22, 2022
On behalf of Council, David Screech, Mayor July 5, 2022
Prepared pursuant to the Financial Information Regulation, Schedule 1, subsection 9
Town of View Royal Consolidated Financial Statements
Year ended December 31, 2021
MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL REPORTING
The consolidated financial statements have been prepared by management in accordance with Canadian public sector accounting standards for British Columbia local governments 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 consolidated 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.
View Royal's Mayor and Council are responsible for ensuring that management fulfils its responsibilities for financial reporting and internal control and exercises this responsibility by meeting with management and the external auditors to review the consolidated financial statements and to discuss any significant financial reporting or internal control matters prior to their acceptance of the consolidated financial statements.
The external auditors, MNP LLP, conduct an independent examination, in accordance with generally accepted auditing standards, and express their opinion on the consolidated financial statements. Their examination includes a review and evaluation of the Town of View Royal's system of internal controls and appropriate tests and procedures to provide reasonable assurance that the consolidated financial statements are presented fairly. The external auditors have full and free access to the Mayor and Council.
Chief Administrative Officer Director of Finance May 03, 2022
Independent Auditor's Report
To Mayor and Council of the Town of View Royal:
Opinion
We have audited the Consolidated financial statements of the Town of View Royal (the "Town"), which comprise the consolidated statement of financial position as at December 31, 2021, and the consolidated statements of operations, changes in net financial assets, cash flows and the related schedules for the year then ended, and notes to the financial statements, including a summary of significant accounting policies.
In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the financial position of the Town as at December 31, 2021, and the results of its operations, changes in its net debt and cash flows for the year then ended in accordance with Canadian public sector accounting standards.
Basis for Opinion
We conducted our audit in accordance with Canadian generally accepted auditing standards. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of the Town in accordance with the ethical requirements that are relevant to our audit of the consolidated financial statements in Canada, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Other Information
Management is responsible for the other information. The other information comprises the annual report, which is expected to be made available to us after the date of this auditor's report.
Our opinion on the financial statements does not cover the other information and we will not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information identified above when it becomes available and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.
When we read the annual report, if we conclude that there is a material misstatement therein, we are required to communicate the matter to those charged with governance.
Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of the consolidated 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.
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