HomeMy WebLinkAboutBAAB #02/18 2017 TRCA Financial Review.pdf2017 TRCA
Financial Review
Budget/Audit Advisory Board
June 8, 2018
Statement of Financial Position and
Accumulated Surplus
Cash and Investments
37,408 38,985 33,823 27,712 27,915 22,997 26,240 24,018 22,771 20,040
36,411
44,760
34,536
30,093 28,155 26,731 28,056
23,490
18,419 17,392
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
The line chart represents cash and investments
The bar chart represents deferred revenue
The growth in TRCA’s cash and investment balances is directly correlated to growth in its deferred
revenue balances, as per the following 10-year analysis:
6,737
6,692
6,548
6,533
6,549
6,451
6,300
6,350
6,400
6,450
6,500
6,550
6,600
6,650
6,700
6,750
6,800
June 2018 December 2017 December 2016
Investments
The green line represents fair value
The blue line represents book value
TRCA invested $6,500 in the One Fund on September 9, 2016 . The 18-month return on investment (as
of May 28, 2018) is 1.3% (Bond: -0.1%, UCB: 1.6%, Equity: 8.9%).
TRCA also invested $15,304 in bonds and GIC’s, in a broker managed account, with an average return
on investment of 2.11% (ranging from 1.58% - 3.3%). TRCA continually assesses its portfolio
performance to determine future investment strategies.
Vacation Pay Entitlements
TRCA continues to monitor this balance and encourages our staff to take vacation. Management
recognizes the need to enforce the vacation policy and has developed a plan to address deviations from
the policy.
The dark blue bar represents TRCA’s vacation pay entitlement liability as of December 31 of each fiscal year.
The light blue bar represents the number of full-time staff on payroll as of December 31 of each fiscal year.
558 533 496 473 470 442 410 401 375 367
2,663
2,461 2,493 2,452
2,300 2,275
2,019 1,881 1,936
1,746
0
500
1000
1500
2000
2500
3000
2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
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2,077
2,786
1,420
2,386 3,442
3,518
(1,339)
(1,849)
(3,720)
(2,196)
(5,000)
(4,000)
(3,000)
(2,000)
(1,000)
0
1,000
2,000
3,000
4,000
2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
Net Financial Assets
For the sixth consecutive year, TRCA’s financial assets exceed it’s financial liabilities, as follows:
Net Financial Assets
In 2016, TRCA’s Net Financial Assets increased by
$1,366, from $1,420 to $2,786
2016 Changes:
Net Surplus: $7,933
Tangible Capital Assets: ($6,400)
Other Assets: ($167)
Total $1,366
In 2017, TRCA’s Net Financial Assets decreased by
$709, from $2,786 to $2,077
2017 Changes:
Net Surplus: $9,961
Tangible Capital Assets: ($10,450)
Other Assets: ($220)
Total $709
Tangible Capital Assets
76.9%
10.7%
6.5%
5.9%
74.9%
12.3%
6.1%
6.6%
Land Infrastructure Buildings and Improvements Other
2017:
Purchases/Contributions: $22,305
Amortization: ($6,865)
Proceeds/Loss on Disposal: ($4,990)
Total Change: $10,450
2016:
Purchases/Contributions: $13,878
Amortization: ($7,374)
Proceeds/Loss on Disposal: ($104)
Total Change: $6,400
2017: 461,869
2016: 451,419
$ Change: 10,450
% Change: 2.3
In the above infographic, the outer ring represents TRCA’s 2017 actuals and the inner ring represents TRCA’s 2016 actuals.
Net Surplus
In 2016, TRCA’s Net Surplus increased by $7,933,
from $446,993 to $454,926
2016 Changes:
Tangible Capital Assets: $6,400
Unfunded Vacation Pay Entitlement: $417
Operating/Capital Reserves: $1,563
Unallocated Surplus/Deficit: ($447)
Total $7,933
In 2017, TRCA’s Net Surplus increased by $9,961,
from $454,926 to $464,887
2017 Changes:
Tangible Capital Assets: $10,450
Unfunded Vacation Pay Entitlement: $352
Operating/Capital Reserves: $228
Unallocated Surplus/Deficit: ($613)
Total $9,961
Reserves
2017 2016
Operating $2,755 $3,006
Capital $1,758 $2,348
TOTAL $4,513 $5,354
TRCA’s reserve balance is as follows:
The ending operating reserve for 2017 includes the unallocated surplus transfer of $613, which has
been proposed for transfer.
The ending capital reserve represents funding for unbudgeted tangible capital assets purchases and
related expenditures.
It is anticipated that any additional surplus available in 2018 will replenish any drawings from reserves
identified in the budget
Thank you
Any questions?