Intermunicipal Advisory Committee on Disability Issues (I.A.C.D.I.) TERMS OF REFERENCE (Attachment Copy)
Duplicate copy of the IACDI Terms of Reference included as an attachment to the March 29 staff report.
GOOD GOVERNANCE
Citizens told us they want:
- Transparency in decision-making;
- Respectful meetings.
| Key strategic goals to enhance Good Governance in View Royal: | Timing: |
|---|---|
| Develop community engagement strategy to identify methods and tools for strong community engagement | 2023 |
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: |
|---|---|
| Update Emergency Response and Recovery Plan, based on new legislation | 2023 |
TOWN OF VIEW ROYAL FINANCIAL INFORMATION
Fiscal Year Ended December 31, 2022
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, 2022 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 9, 2023.
For 2022, 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 $4.3 million in 2022 to $19.9 million. This represents the funds available to meet its financial obligations as they come due;
- The year ended with a deficit of $3.9 million, primarily due to a transfer of park land to the Capital Regional District, reducing accumulated surplus to just under $143 million. Much of the balance of accumulated surplus 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 $122.8 million with related debt equaling $4.5 million resulting in net equity in tangible assets of $118.3 million;
- Total reserves and surplus at the end of 2022 was $24.5 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 $5.8 million.
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