2012 annual - Boardwalk REIT

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Associates With over 1,600 Associates, Boardwalk firmly believes that our success can be attributed to our team of hard-working and talented Associates. Boardwalk Associates are dedicated to providing outstanding Customer Service across Canada and ensuring that they are delivering the best value to our Customers. As a result of our continued dedication to our Associates, Boardwalk strives to ensure that we are providing Associates with the best value when it comes to the company and environment in which they work. 22 / Operations RevIEW Boardwalk REIT / AR 2012
Throughout 2012, Boardwalk continued using various mediums to ensure that our Associates are provided with timely and up to date information. The biggest challenge Boardwalk faces with internal communications is a team of Associates that are spread out across Canada, for this reason we have tailored our internal communications so that they are relevant and useful to all Associates, regardless of Region that Boardwalk operates in has an internal committee that is dedicated to Associates. These committees raise money to provide gifts of hope to Associates and their families in times of need, and Boardwalk is proud to match all of the funds raised. Boardwalk also has an extensive list of benefits for our Associates. In 2012 we added the following to our benefits: an update to our Critical location. One facet of Boardwalk’s internal Illness coverage, additional charities communications is our intranet which is a secure website where Associates can go to learn about events across Canada as well as important Human for our Charitable Donations program and Online Training for Associates, and throughout the year Boardwalk invested over $2,000,000 in comprehensive Resources and Health As Boardwalk group benefits. In and Safety information. Associates are the key 2013, we have once again In 2012 we added a new added to our benefits, we to success, one of our feature to this site, a are offering each Associate best investments is in blog from our CEO Sam an additional Grace Day as Kolias to communicate directly with Associates. our Associates. well as increased the amount of our fitness reimbursement. Boardwalk also continued to distribute our quarterly magazine which aims to create a sense of unity between Associates. Boardwalk also continues to offer Associates a Group RRSP Employer Match and in 2012, Boardwalk invested over Finally, Boardwalk also held annual $1,961,500 in this program. luncheons for Associates with senior executives called “TEAM” which stands for The Executive Associate Meetings. These events give Associates across Canada the opportunity to interact with members from senior management and to get an update on Boardwalk events and financials from executives. Boardwalk encourages all Associates to continue to learn and grow in their chosen field, and in 2012 we were pleased to invest over $136,000 in Associate training and development. These funds were used to cover items such as text books, tuition and membership fees. We also want to ensure that we continue to offer a work environment Boardwalk strives to provide Associates with the best work environment. In 2012 we continued to provide our Associates with a Profit Share Program as well as continued to conduct research to ensure we are providing Associates with competitive wages. Boardwalk also continued the High Potential Program that recognizes Associates who go above and beyond. that allows Associates to excel and grow, and as a result we continue to update our Mentor Guides on a quarterly basis, as well as now offer online review and testing processes for new Associates. In addition to these programs, we also continue our succession planning. This requires all Boardwalk Leaders to select a successor for their role and the time frame in which this individual will be ready for As Boardwalk Associates are the key to success, we believe that one of our best investments is in our Associates. Each the role. Boardwalk finds that through these programs, Associates are inclined and able to continue to learn and grow. Boardwalk REIT / AR 2012 Operations RevIEW / 23
Page 1 and 2: TSX: BEI.UN Annual Report 2012 Deli
Page 3 and 4: 2012 Highlights Funds From Operatio
Page 5 and 6: Quebec City 1,319 units 3.7% of por
Page 7 and 8: Letter to Unitholders Throughout 20
Page 9 and 10: Financial and Operating Highlights
Page 11 and 12: Rental Revenue Cycle Move-outs > Mo
Page 13 and 14: Customers: To work proactively to e
Page 15 and 16: Associates: Invest in our people to
Page 17 and 18: Community: To positively impact the
Page 19 and 20: Corporate Governance: To provide fu
Page 21 and 22: equests, communicate with Customer
Page 23: Les Jardins de Merici, Quebec QC Br
Page 27 and 28: Health and Safety The dedication an
Page 29 and 30: Free the Children, We Day Alberta D
Page 31 and 32: Environment Boardwalk encourages Cu
Page 33 and 34: Oakhill Estates, Calgary AB Spruce
Page 35 and 36: Riverdale Manor, Windsor ON Christi
Page 37 and 38: Financial Review Management’s Dis
Page 39 and 40: Executive Summary Business Overview
Page 41 and 42: 4. Commitment to expending at least
Page 43 and 44: Achieving this goal requires the fu
Page 45 and 46: Cost of Capital In understanding Bo
Page 47 and 48: PeRFoRMance Review of 2012 Boardwal
Page 49 and 50: FFO Reconciliations The Trust’s a
Page 51 and 52: program. Boardwalk continues to be
Page 53 and 54: For year ended December 31, 2012, B
Page 55 and 56: Boardwalk REIT’s Portfolio Occupa
Page 57 and 58: Stabilized revenue increased by 4.1
Page 59 and 60: subsequent periods as the Trust con
Page 61 and 62: Other Income and Expenses Income Ta
Page 63 and 64: Capital Improvements Boardwalk has
Page 65 and 66: The key valuation metrics for the T
Page 67 and 68: In addition to this, the Trust curr
Page 69 and 70: Boardwalk REIT Limited Partnership
Page 71 and 72: economically insurable. Boardwalk R
Page 73 and 74: Interest Risk is the combined risk
Page 75 and 76:
Utility expenses, mainly consisting
Page 77 and 78:
Existing Tax Filing Positions Altho
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property (calculated as the differe
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(d) Assets held for sale and discon
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(i) Unit-based payments Equity-sett
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Boardwalk REIT’s financial assets
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(n) Cash Cash is comprised of bank
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Future Changes in Critical Accounti
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Presentation of Financial Statement
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Annual Comparative Twelve Months En
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INDepenDent AUDitoRs’ RepoRT To t
Page 97 and 98:
Consolidated Statements of Comprehe
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Consolidated Statements of Cash Flo
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are internal amounts that are direc
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‘measurement period’ (which can
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Deferred tax Deferred tax is recogn
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Classification Definition Measureme
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and the host contracts are not meas
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Note 3: Future accounting policies
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Note 4: Investment properties As at
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Investment properties with a fair v
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Note 8: tRade and other receivables
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esulting from changes in the fair v
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As at December 31, 2012 and 2011, t
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Note 17: DefeRRed government grant
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(b) Special Voting Units The Declar
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Note 21: Financing costs Financing
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1, 2010 to October 31, 2011 at a pr
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Note 28: Financial instruments (a)
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The three levels of the fair value
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The following table details the Tru
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BPCL represents the only entity whi
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Details of segmented information ar
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(b) Depreciation and amortization T
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Five Year SuMMary 2008 2009 2010 20
Page 145 and 146:
2011 Quarterly Results (in $000’s
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Corporate Information EXECUTIVE OFF
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2012 annual - Boardwalk REIT

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