Annual report
City of Powell River’s 2010 annual report is now available. The report includes the 2010 audited annual financial statements, a report on 2010 municipal objectives, a statement of objectives for 2011-2012, statement of permissive tax exemptions for 2010, reporting on municipal services, operations and capital projects and a summary of policies and bylaws adopted in 2010.
The annual report will be presented at the regular council meeting at 7 pm on Thursday, June 16 at city hall. During this meeting, council will consider submissions and questions from the public about it.
Copies of the annual report are available for public inspection at city hall, 6910 Duncan Street, during regular office hours. It is also available on the city’s website.
Dave Douglas, director of financial services, presented the 2010 audited financial statements at a special council meeting on May 13. BDO Canada LLP issued an unqualified opinion, the highest form of assurance an auditor can provide.
Douglas went through some of the financial indicators to assess the city’s financial position in 2010. The debt-to-revenue indicator decreased to $0.15 of debt for each $1 of revenue, down from $0.19 in 2009.
The net financial assets (net debt) to revenue (consolidated) in 2010 was $0.27 per $1 of revenue. In 2009, it was $0.40 per $1 of revenue. This indicator shows a trend of spending more of the city’s revenues than in the past.
“This is showing a trend that we don’t want to continue,” said Douglas. “In this case, the higher per dollar is better. It’s just saying we’re utilizing cash and technically that would be for our projects.”
The debt servicing charges to total revenue indicator was the same in 2010 as it was in 2009, $0.02 of debt servicing charges for each $1 of revenue. This indicates that the city carries a relatively low level of debt when compared to revenue.
However, borrowing for major capital projects that are underway, including the drinking water system upgrade, the north and south harbour reconfigurations, the Wharf at Westview and the athletic track, did not happen in 2010, so are not included in this indicator.
The own source revenue to total revenue indicator shows that the city’s own source revenue was 85 per cent of total revenues in 2010, compared to 92.9 per cent in 2009.
The city remains independent of government transfers and therefore is not vulnerable to cutbacks from those sources, Douglas’s report about the financial statements stated. However, he added, being a resource-dependent city, vulnerability is inherent in its own source revenue.
The long-term debt obligation decreased by $458,799 to a total obligation of about $4.8 million in 2010, compared to about $5.3 million in 2009.
Council passed a motion to accept the audited statements, as presented.
Sex cases continue
Two women charged in the case of distribution, possession and production of child pornography have had their cases extended another month, until Wednesday, June 29.
The extension is for the accused’s lawyer and Crown counsel to continue with the ongoing process of disclosing evidence and solidifying charges. Although charges have not yet been finalized, suggested charges from the RCMP include the distribution, possession and production of child pornography and conspiracy to commit sexual assault. Not all accused will necessarily face all charges.
Charges stem from arrests made on March 31 and April 1 after the search of three houses and a vehicle. RCMP are not revealing specifics of the case but say that three Powell River children have been identified as victims and images of child pornography were seized. A publication ban protecting the identity of the victims prohibits the printing of the accused’s names.
The accused male in the case will be back in court for his initial appearance on Wednesday, June 22.
The 60-year-old man accused in the sexual assault of a woman with disabilities while under his care also had his next appearance scheduled for June 29. The wait is for the purpose of designating counsel and for the process of disclosure. The man faces charges of one count of sexual assault and one count of sexual exploitation of a person with a disability.
RCMP arrested the man, who’s name cannot be revealed due to a publication ban, in October 2010 after a female client was assaulted by a care worker in a home in Powell River.
