2023 Annual Report

Consolidated Financial Statements Notes to the Consolidated Financial Statements

12. D e b t ( cont ' d ) The following debenture debt amounts plus projected Sinking Fund earnings are payable over the next five years and thereafter are as follows: Debt Payments 2024 $ 3,647,762 2025 3,697,744 2026 3,749,136 2027 3,254,597 2028 1,296,637 Thereafter 14,678,227 Actuarial earnings 8,437,081 $ 38,761,184 The City has the following authorized but unissued financing available as at December 31, 2023: L/A Bylaw L/A Amount L/A Bylaw L/A Amount #6560 $ 275,000 #6679 $ 1,100,000 #7373 1,000,000 #7374 500,000 #7375 1,000,000 #7376 500,000 #7377 23,500,000 Total $ 27,875,000

13. Tangi b le Capital A ssets

N et b ook value 2023

2022

Land

$

306,753,546 $

296,648,241 84,951,147 224,884,037 222,877,103 22,175,953 5,672,612 138,173,298 141,310,826 41,350,571

Buildings

82,336,113 229,384,728 225,718,705 23,536,932 6,553,771 150,394,624 145,474,872 44,235,838

Transportation network Storm sewer system Fleet and equipment

Technology Water system

Sanitary sewer system

Other

$ 1,178,043,788 For additional information, see the Schedule of Tangible Capital Assets (Schedule 1) 1,214,389,129 $

During the year there were no write-downs of assets ( 2022 - $Nil). In addition, the fair value of roads and related infrastructure, underground networks and land contributed to the City totaled $14,440,058 ( $17,560,027 for 2022 ) and was capitalized and recorded as revenue at the time of recognition. Natural assets, works of art, artifacts, cultural and historic assets are not recorded as assets in these financial statements. The City controls various works of art and historical treasures including artifacts, paintings, sculptures and mosaics located at City sites and public display areas. 14. U ndeveloped L and Bank The City owns property in various areas identified for future growth in the Official Community Plan. These properties are not currently used in the provision of service to the citizens of Maple Ridge. The properties represent a strategic, non-renewable resource available for the advancement of Council's strategic plan.

60 | City of Maple Ridge - 2023 Annual Report