Sixteen Mile Sports Complex | Officially opened ... - Oakville

More documents

Recommendations

Info

Notes to Consolidated Financial StatementsYear ended December 31, 2010(tabular columns in thousands of dollars)(C) Cemeteries Act:The Cemeteries Act (Revised), R.S.O., 1990, requires the townto assume ownership and responsibility for the continuing careof pioneer and abandoned cemeteries. However, the CemeteriesAct does not address the issue of funding for this obligation,other than provide that any assets, funds and trust accounts, ifthey exist, become the property of the municipality at the timethe ownership is assumed. This potential liability cannot bequantified at this time and no provision has been included inthese financial statements.(D) Guarantees:In the normal course of business, the town enters into agreementsthat meet the definition of a guarantee.(i) The town, on occasion, has provided indemnities under leaseagreements for the use of various operating facilities. Underthe terms of these agreements the town agrees to indemnify thecounterparties for various items including, but not limited to, allliabilities, loss, suits, and damages arising during, on or after theterm of the agreement. The maximum amount of any potentialfuture payment cannot be reasonably estimated.(ii) The town has purchased errors and omissions insurance tomitigate the costs of any potential future suits or actions. Theterm of the indemnification is not explicitly defined, but islimited to the period over which the indemnified party servedas an officer, an employee, a volunteer or member of Council,board, commission or committee of the town. The maximumamount of any potential future payment cannot be reasonablyestimated.(iii) In the normal course of business, the town, on occasion,has entered into agreements that include indemnities infavour of third parties, such as purchase and sale agreements,confidentiality agreements, engagement letters with advisorsand consultants, outsourcing agreements, leasing contracts,information technology agreements and service agreements. Theseindemnification agreements may require the town to compensatecounterparties for losses incurred by the counterparties as aresult of breaches in representation and regulations or as a resultof litigation claims or statutory sanctions that may be suffered bythe counterparty as a consequence of the transaction. The termsof these indemnities are not explicitly defined and the maximumamount of any potential reimbursement cannot be reasonablyestimated.The nature of these indemnification agreements prevents thetown from making a reasonable estimate of the maximumexposure due to the difficulties in assessing the amount of liabilitywhich stems from the unpredictability of future events and theunlimited coverage offered to counterparties. Historically, thetown has not made significant payments under such or similarindemnification agreements and therefore no amount hasbeen accrued in the financial statements with respect to theseagreements.14. Government transfers:The town recognizes the transfer of government funding asexpenditures or revenues in the period that the events givingrise to the transfer occurred. The government transfers reportedon the Consolidated Statement of Financial Activities are:2010 2009RevenueFederal grantsCanada council $ 230 $ 275Canadian heritage grant 70 70DCH grant 64 56HRDC grant 62 52Community Investment Support - 22Federal gas tax 4,917 5,940Infrastructure Stimulus Funding 6,547 300ICCI Funding 75 -RinC Funding 354 -12,319 6,715Ontario grantsOntario MunicipalPartnership Fund - 305Elderly Person’s Centres 116 116Library – operating grant 182 182Museum – operating grant 58 58COMRIF - -GTA farecard project, Metrolinx& Provincial Trans Expansionfunding Initiative 134 182Ontario Bus Replacement 560 -Investing in Ontario – Recreational 916 1,305RinC Funding 354 -Roads & Bridge Funding - -Infrastructure Ontario MIll 3,169 381Communities in actionand zero tolerance 37 41Ontario arts council 122 105Ontario gas tax 5,450 2,705Miscellaneous 118 32Infrastructure Stimulus Fund 6,548 30017,764 5,712$ 30,083 $ 12,427Town of Oakville 2010 Annual Report |38
15. Segmented information:The Town of Oakville is a diversified lower tier municipalgovernment that provides a wide range of services to its citizens,including fire, public transit, roads and works operations, parks,recreation, culture, planning, development and building services.Segmented information has been identified based on lines ofservice provided by the town. These lines of service have beenseparately disclosed in the segmented information, along withthe services they provide, are as follows:(i) Governance and corporate services:Reported in the General Government functional area, it coversthose departments responsible for political governance (Council,Clerks), administrative executive management (CAO, InternalAudit, Strategy, Policy and Communications), Corporate Services(Finance, Human Resources, Legal, Information Systems +Solutions, Facility and Construction Management) and thoseexpenses and revenues which are truly corporate in nature andcannot be easily apportioned to one department over another,such as investment income and penalties and interest on overduetaxes. Also, any tax revenue required to cover debt principalrepayments, transfers to capital and reserves/reserve funds, hasbeen allocated to this area.(ii) Fire:The mandate of Fire is to provide emergency services througha range of services to protect the lives and property of theinhabitants of Oakville from the adverse effects of fires, suddenmedical and non-medical emergencies including but not limitedto exposure to dangerous conditions brought on by natural,technological or human-caused events. The main objectives areto prevent fires, educate the public with regards to fire relatedrisks, to enforce fire safety standards, fight and suppress firesand to plan and respond to all emergencies throughout the Town.(iii) Building Services:The mandate of Building Services is to inform and assistcustomers to ensure safe and orderly development and provideefficient delivery of building approvals, inspections andmanagement systems. The Building Services department is forthe most part, an enforcement agency, enforcing both provincialand municipal regulations. Provincially, the department enforcesthe Ontario Building Code to ensure that all construction withinthe municipality meets the minimum standard required ensuringlife safety for all residents, businesses and workers that chooseto live and/or work in Oakville. Municipally, the departmentenforces the local zoning regulations which are designed toensure that development within the municipality conforms to theregulations designed to create the most livable town in Canada.(iv) Parks, Recreation and Culture:The mandate for Parks is a commitment to ensuring a diverserange of open space opportunities that preserves and enhancesthe quality of life for present and future generations. This willbe accomplished by protecting and enhancing our heritage andenvironment, facilitating community partnerships and providingeffective efficient services through a dedicated and professionalstaff. This service is responsible for the provision of the parksand open space program, which provides the residents withday-to-day maintenance for the town’s parks and open spacesystem, as well as undertaking the planning and construction ofnew parkland and open space. Parks and Open Spaces is alsoresponsible for the operation of the Oakville Harbours, Forestryand Cemeteries Operations.The mandate of Recreation and Culture is to provide a diverserange of recreational opportunities that preserve and enhancethe quality of life for present and future generations which areinnovative and accessible to all residents and meet the diverseneeds of a changing community. They are responsible for theeffective delivery of the recreation services program, includingdirect program delivery, the provision of facilities and internaldepartmental and corporate support as well as the support ofgroups and organizations throughout the town in the delivery ofservices to their members. This program is provided through theprovision of administration, recreation programs, support servicesand facilities. The Recreation and Cultural department alsoprovide management and programming of the Oakville Museumand the Oakville Centre for Performing Arts. The Oakville PublicLibrary and Oakville Galleries are also reported in this segment.Town of Oakville 2010 Annual Report | 39
Page 1 and 2: Sixteen Mile Sports Complex | Offic
Page 3 and 4: 2010 HighlightsTown services span e
Page 6 and 7: Message from the CAOOakville is a c
Page 8 and 9: To enhance ournatural environmentKe
Page 10 and 11: To continuously improve ourprograms
Page 12 and 13: To have programs and services that
Page 14 and 15: Looking aheadKey challengesand acti
Page 16 and 17: Organizational chartMayor and Counc
Page 18 and 19: assets”, which are not available
Page 20 and 21: Comprehensive Financial Managementa
Page 22 and 23: • Council, in adopting the capita
Page 24 and 25: KPMG LLPChartered AccountantsBox 97
Page 26 and 27: Consolidated Statement of Operation
Page 28 and 29: Consolidated Statement of Cash Flow
Page 30 and 31: Notes to Consolidated Financial Sta
Page 46 and 47: Five year review (unaudited)2010 20
Page 48 and 49: Tangible capital assets by class201
Page 50 and 51: Capital operations2010 2009 2008 20
Page 52: Town of OakvilleP.O. Box 310, 1225

Sixteen Mile Sports Complex | Officially opened ... - Oakville

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?