2012 annual - Boardwalk REIT

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A key factor to appreciating Associates, is recognition, as a result, Boardwalk believes in celebrating and acknowledging Associates who go above and beyond in their day to day work. Each year Boardwalk presents certain Associates with Foundation of Excellence awards. These awards are peer voted and go to individuals who are committed to living Boardwalk’s Mission, Vision and Values each day. In 2012, we were pleased to award nine Associates with these awards, along with one Leader of Excellence award. We also recognize Associates who receive compliments from our Customers through our Bravo program. The Bravo program continued in 2012, and we were pleased to award over 350 of our Associates with Bravos. In addition to celebrating Boardwalk Associates achievements, we extend this to the families of our Associates by offering Chairman’s Scholarships to the children of Boardwalk Associates. In 2012 Boardwalk awarded 24 children with scholarships, amounting to over $100,000. With all of these programs in place to ensure that Boardwalk has the best corporate culture and work environment for Associates across Canada, we are happy to see our team continue to grow to over 1,600 Associates. Of these Associates, Boardwalk is pleased to say that 38% of Associates have been with us for over five years, and 19% over 10 years. Boardwalk Associate turnover in 2012 was 20.86%, which remained relatively the same as 2011. Chairman’s Scholarship Recipients Student Name Clarisse Pascua Francis Gareau Anne-Sophie St. Jean Alvyn Labertino Krizia Chavez Cynthie Beisson Jennifer Nebeling John Richard Dutton Carlos Afanador Jyllel Majorenos David Cabana Andrew Wionzek Hector Enrique Aldana Claudine Costa Marco Bellusci Yulia Stalevski Megan Eglauer David Cerda Jann Mapalo Rose Carreon Alejandra Devia Ella Sun Osman Fahia Bryan David Associate Name Renate Pascua Guy Gareau Sylvain St. Jean Oscar Labertino Christopher Chavez Kristine Dault Patrick Nebeling Lynn Rideout Felipe Afanador Joel Majorenos Helene Thomas Laurie Wionzek Hector Aldana Constantino Costa Lorenzo Bellusci Serguei Stalevski Leonard Eglauer Elma Cerda Sanchez Wilfredo Mapalo Orlando Carreon Claudia Devia Lihong Sun Asma Mahamud Julius David 24 / Operations RevIEW Boardwalk REIT / AR 2012
Health and Safety The dedication and commitment Boardwalk shows towards Health and Safety continued through 2012, and will continue throughout 2013. At the beginning of 2011, Boardwalk launched a Zero Injury Campaign, a goal to eliminate all workplace injuries and illnesses. This campaign remained in place in 2012 with a Health and Safety section being added to each Associates performance review. In 2012 Boardwalk conducted an internal Health and Safety audit in Alberta and was pleased to receive an overall mark of 99%. Throughout this extensive audit, we were able to pinpoint areas where we can continue to improve in making Boardwalk a safe and healthy place for all Associates. Boardwalk’s Health and Safety programs helped to see a significant decrease in our Claims cost through WCB in Alberta. Part of our continued dedication to Health and Safety is ensuring that our Associates are educated on the best practices to ensure that they are being safe in their day to day work. Boardwalk takes advantage of many different methods to communicate Health and Safety to Associates. These methods include; a monthly Health and Safety bulletin delivered to each Associate, a page dedicated to Health and Safety on our intranet, a quarterly Health and Safety update in our internal magazine, as well as discussion of Health and Safety practices in our annual luncheons. Throughout 2012 we continued our efforts to create building information manuals for each of our properties. These manuals contain important emergency procedures and protocols, mechanical equipment shutdown procedures, and detailed site specific information for site Associates to reference during daily operational duties. We have completed 30% of these manuals across Canada and 100% for Southern Alberta. The development and research to optimize the building manuals, combining them with reserve fund studies to form Boardwalk Building Systems Management, is in its preliminary stages and will be focused upon over the next few years. Boardwalk continues to have the following programs in place to ensure that our Associates receive the appropriate training and education that allows them to do their work in a safe manner. Health and Safety Programs Asbestos Management Plan Associate Training Bed Bugs Bodily Fluids & Dead Animal Cleanup Chainsaw Safety Communication Company Vehicle Safety Confined Spaces Electrical Safety Emergency Response Environmental Policy Fall Protection Firearms / Weapons Found on Site First Aid Forklift Safety Hazard Detection Program Hazardous Materials, Storage and Disposal Housekeeping Incident Reporting Indoor Air Quality Job Hazard Analysis Joint Health & Safety Committee Ladder Safety Lockout and Tagging Material Safety Data Sheets (MSDS) Modified Duties Monthly Site Safety Inspections Mould Remediation Needle / Syringe Safety Noise Exposure & Hearing Conservation Office Ergonomics Pandemic Response Personal Protective Equipment Pesticides Pool Safety Power Tool Safety Respirator Code of Practice Right to Refuse Unsafe Work Safety Infractions Site Safety Meetings Slip, Trip & Fall Snow Shoveling Sun & Heat Protection Transportation of Dangerous Goods Visitor Policy Workplace Hazardous Materials Information Systems (WHMIS) Working Alone Workplace Violence Zero Injury Campaign Boardwalk REIT / AR 2012 Operations RevIEW / 25
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 and 24: Les Jardins de Merici, Quebec QC Br
Page 25: Throughout 2012, Boardwalk continue
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
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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
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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
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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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