Annual Report 2022

For the year ended December 31, 2022 Notes to the Consolidated Financial Statements Consolidated Financial Statements 20. Budget Budget amounts represent the Financial Plan Bylaw adopted by Council on May 10, 2022. The Financial Plan anticipated use of surpluses accumulated in previous years to balance against current year expenditures in excess of current year revenues. The following shows the reconciliation of the amounts presented on the financial statements to the approved budget:

Revenue Taxation

$ 103,991,814 52,910,221 53,812,838 20,000,000 230,714,873

User fees and other revenue

Other

Contributed subdivision infrastructure

Total Revenue

Expenses Protective services Transportation services Recreation and cultural

52,284,717 27,487,924 26,669,074 19,652,587 15,576,404 23,238,572 8,352,812 173,262,090

Water utility Sewer utility

General Government

Planning, public health and other

Total expenses

Annual Surplus

$ 57,452,783

Less: Capital expenditures Debt repayment Add: Interfund transfers Borrowing proceeds Financial Plan Bylaw Amortization

187,741,338 4,055,066 80,848,953 24,593,930 28,900,738

$

-

21. Contractual Rights There are a number of development projects in progress throughout the City where there is a requirement for the developer to provide infrastructure to the City, such as roads, sewers, sidewalks and street lighting. The estimated fair value of the infrastructure is recognized as "contributed tangible capital assets" revenue in these consolidated financial statements when the City accepts responsibility for the infrastructure. Estimated fair value is determined at the time the assets are recognized.

City of Maple Ridge - 2022 Annual Report 55