2020 Annual Report

Message from the Chief Financial Officer

mapleridge.ca under Your Government, Open Government, Performance Reporting.

On behalf of the Finance Department, it is my privilage to present the 2020 Annual Report for the City of Maple Ridge. This report includes the Audit Report from BDO Canada LLP, the Consolidated Financial Statements and supplementary

Year in Review The worldwide pandemic was the focus for everyone in 2020. It will undoubtedly be looked back on and debated as to what went well and what could have been done differently. It is likely safe to say all of us look forward to having this pandemic behind us. While this is a health emergency and addressed by senior levels of government, the municipality’s role is important in maintaining essential services, supporting the province and health authorities in efforts to address the implications of Covid-19 and maintaining civility. The City was able to quickly move to online Council Meetings and had the technology in place to support remote working. Improvements were made to citizen and customer online services. The City continued to invest in new facilities and other municipal infrastructure, both renewal and new infrastructure, to support a growing community. Similar to other communities, homelessness, mental health and opioid addiction is of great concern. While it falls under the responsibly of senior levels of government, certainly every community is impacted by the negative behaviours and has a role in mitigating these impacts. Maple Ridge Council through the Community Social Safety Initiative has hired Community Safety Officers to help address these impacts and connect those interested to the appropriate services. Economic Climate The pandemic and related imposed restrictions continue to be the focus of all economic discussions. Markets, being forward looking, are concerned as to how quickly certain sectors of the economy recover and the implications of the financial stimulus provided, specifically inflation. The recovery has been inhibited by interruptions in production, shortages of key components and supply chain issues. The global trade environment continues to be uncertain with trends towards protectionist measures. For 2020, the Province of British Columbia both reduced and delayed penalties on property taxes for businesses. Maple Ridge delayed residential property tax penalties. The 2020 property taxes were collected at near historic rates. The Province provided funding to municipalities to provide financial liquidity to help offset the implications of the pandemic. Maple Ridge received $6.4 million. Maple Ridge continues to attract development. The City has seen increased residential density and interest in commercial investment, including the redevelopment of the previous Hammond Cedar Mill. The Planning

information for the fiscal year ended December 31, 2020. Maple Ridge continues to demonstrate its commitment and expertise in financial management. Our 2019 Annual Report received the Government Finance Officers Association’s (GFOA) Canadian Award for Financial Reporting, an award that recognizes local governments across Canada that produce high quality financial reports. This was the 30th consecutive year that Maple Ridge received this award and the longest standing in Canada. The purpose of the Annual Report is to provide insight into the financial results for our fiscal year ended December 31, 2020. It is divided into three sections: 1. Introductory Section – Provides an overview of 2. Financial Section – Presents the Consolidated Financial Statements, accompanying notes and supplementary information and the independent auditor’s report. 3. Statistics Section – Presents statistical and financial information on a multi-year comparative basis. Local government financial statements are intended to assist readers in evaluating how public resources are being managed. They compare the deployment of financial resources against budget and previous year’s results. As required under British Columbia’s Community Charter, this Annual Report contains comprehensive information about the goals and objectives within the focus areas identified by Council. The Strategic Direction & Progress Report on page 9 communicates how we are measuring performance towards the achievement of these goals and objectives during the year. A new four-year Council term commenced in November 2018. With a strong focus on governance, Council soon began updating the Strategic Plan. In 2020, performance measurements that align with the City of Maple Ridge Strategic Plan 2019-2022 were created and are now regularly reported on. The performance measures compliment the existing Open Government Portal that makes publicly owned data available for query and download. This can be found on Council’s strategic direction and the economic and administrative context in which the City operates.

28 City of Maple Ridge - 2020 Annual Report