2025 Annual Report-final June 4

FINANCIAL STATEMENTS

Consolidated Financial Statements Notes to the Consolidated Financial Statements (continued) 25. Contin g encies and Commitments : ( a ) Where losses related to litigation are likely and can be reasonably estimated management accrues its best estimate of loss. These amounts are included in accounts payable and accrued liabilities. There are various other claims by and against the City for which the liability is not recorded because the outcomes cannot reasonably be determined. Any ultimate settlements will be recorded in the year the settlements can be determined. There are claims outstanding that may result in material losses but for which no amount has been recorded due to the the uncertainty of occurrence and amount of, if any. Any amount of losses, if any, will be recorded at the time the outcomes are determinable and amounts are reasonably estimable. ( b ) In 1998 the City entered into an agreement to purchase ice sheet time for five years commencing in 1999, with five five-year renewal options. The agreement remains in effect until its expiry. The minimum annual payment due for the provision of ice time is $834,591. Additional ice time is purchased separately. These payments are recorded as expenses when the ice time is provided. ( c ) The City is a shareholder and member of E-Comm Emergency Communications for British Columbia Incorporated ("E-Comm") whose services provided include: regional 9-1-1 call centre for the Greater Vancouver Regional District; Wide Area Radio network; dispatch operations; and records management. The City has 2 Class A shares and 1 Class B share (of a total of 37 Class A shares and 18 Class B shares issued and outstanding as of December 31, 2025). As a Class A shareholder, the City shares in both funding the future operations and capital obligations of E Comm (in accordance with a cost sharing formula), including any lease obligations committed to by E-Comm up to the shareholder's withdrawal date.

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