2018 Annual Report

Notes to the Consolidated Financial Statements

Consolidated Financial Statements

For the year ended December 31, 2018

(c) Unrecognized Liability The City holds shares in a non-profit organization that provides protective services to its members. Should the organization dissolve or management choose to withdraw from the organization the City would be liable for a proportionate share of any debt the organization held at that time. The liability is expected to be discharged over time through payments by the City and others for the provision of these services by the organization. Due to the ongoing operations of the organization the liability could only be quantified if the City chose to withdraw. Consequently no liability has been recognized in these financial statements. 8. Deferred Revenues Deferred revenues held by the City were comprised as follows: Prepaid Taxes Connection Revenues 2018 2017 2018 2017 Beginning balance $ 6,864,267 $ 6,437,206 $ 1,035,037 $ 724,875 Deferred during the year 14,250,434 13,645,937 1,370,294 1,026,652 Revenue recognized (13,898,578) (13,218,876) (711,286) (716,490) Ending balance $ 7,216,123 $ 6,864,267 $ 1,694,045 $ 1,035,037

Other

Total Deferred Revenues

2018

2017

2018

2017

Beginning balance Deferred during the year Revenue recognized

$ 6,298,878 $ 4,076,891

$ 14,198,182 $ 11,238,972

4,931,744 (4,380,286)

4,068,902 (1,846,915)

20,552,472 (18,990,150)

18,741,491 (15,782,281)

Ending balance

$ 6,850,336 $ 6,298,878

$ 15,760,504 $ 14,198,182

9.

Restricted Revenues Restricted revenues held by the City were comprised as follows:

Development Cost Charges

Parkland Acquisition Charges

2018

2017

2018

2017

Beginning Balance

$ 29,546,672 $ 26,019,028

$ 1,163,951 $

412,027 779,225

Collections and interest Disbursements - operating Disbursements - capital

6,275,172 (398,474) (11,598,291)

10,988,859 (118,685) (7,342,530)

355,745

- -

-

(27,301)

Ending Balance

$ 23,825,079 $ 29,546,672

$ 1,519,696 $ 1,163,951

Other Restricted Revenues

Total Restricted Revenues

2018

2017

2018

2017

Beginning Balance

$ 8,923,031 $ 6,970,857

$ 39,633,654 $ 33,401,912

Collections and interest Disbursements - operating Disbursements - capital

4,443,001

2,070,128

11,073,918

13,838,212 (173,259) (7,433,211)

(63,012)

(54,574) (63,380)

(461,486)

(2,651,637)

(14,249,928)

Ending Balance

$ 10,651,383 $ 8,923,031

$ 35,996,158 $ 39,633,654

City of Maple Ridge - 2018 Annual Report 49