2024 Annual Report-web FINAL

Consolidated Financial Statements Notes to the Consolidated Financial Statements (continued)

18. G ove r nment Tr ans f e r s Government transfers recognized as revenues during the year were comprised of the following: 2024

2023 Total

Capital

O pe r ating

T otal

Federal Government Provincial Government

$

44,407 $ 5,747,642 $ 5,792,049 $

1,186,485 18,396,186 5,732,962

94,110

2,863,035 889,541

2,957,145 3,123,986 149,912

TransLink

2,234,445 149,912

Other Total

-

351,940

$ 2,522,874 $ 9,500,218 $ 12,023,092 $ 25,667,573

In 2024 the City entered into an agreement with Lu'ma Native BCH Housing Society for the provision of funding in support of City efforts to reduce homelessness in the community. The City received $407,437 during 2024 toward this work. 19. Tr ust Funds Certain assets have been conveyed or assigned to the City to be administered as directed by an agreement or statute. The City holds the assets for the benefit of, and stands in a fiduciary relationship, to the beneficiary. The following trusts are excluded from the City's consolidated financial statements: Balance Dec 31, 2023 Interest Earned Receipts Disbursement s Balance D ec 31, 2024

Latecomer Fees

$ 1,021,012 $ -

$ 299,377 $ (395,951) $ 924,438

Cemetery Perpetual Care Metro Vancouver Sewer & Drainage District Metro Vancouver Water District

1,574,282 3,061 89,844

(3,061)

1,664,126

2,816,283

- - - - -

3,145,213 (2,730,938)

3,230,558 591,459 1,094,052 1,742,364

26,096

598,151

(32,788)

TransLink

1,107,501 1,743,196 3,012,673

1,224,209 (1,237,658)

Road 13 Dyking District Albion Dyking District

- -

(832)

- 3,012,673 $ 11,301,043 $ 3,061 $5,356,794 $ (4,401,228) $ 12,259,670

20. E xpenses and E xpenditu r es by O bject Operations

Capital Acquisitions

2024 T otal

2024 Budget

2023 Total

Goods and services Wages and salaries

$ 94,079,628 $ 51,017,630 $ 145,097,258 $ 351,542,672 $ 134,130,156 1,044,050 68,234,298 63,690,373 62,171,601

67,190,248 1,398,107

Interest

-

1,398,107

1,884,826

1,592,477

Total

162,667,983 52,061,680 214,729,663 417,117,871 197,894,234

Amortization expense Accretion expense Contributed tangible capital assets Total Expenses and Expenditures

29,891,313

- -

29,891,313 24,593,930 27,971,733

820,278

820,278

-

787,439

-

29,238,508 29,238,508 20,000,000 14,440,058

$ 193,379,574 $ 81,300,188 $ 274,679,762 $ 461,711,801 $ 241,093,464

66 | City of Maple Ridge - 2024 Annual Report