Agenda Package - City of Vernon

THE CORPORATION OF THE CITY OF VERNON
Notes to the Consolidated Financial Statements
Year Ended December 31, 2008
n) PSAB Section 2700 lnitiative (Segment Disclosures):
Beginning in the 2008 fiscal year, segmented financial information is presented in
groups of distinguishable activities in a similar approach to the City's internally
reported cost centres. These segments are structured in a fashion to assist
users of financial statements in understanding and identifying the resources
allocated to support commonly recognized functions of the City. Segments are
identified primarily by function and secondarily by organizational relationship.
Revenues are only allocated to segments when there is a direct cause and effect
relationship to the expenses of those segments. Revenues that cannot be
reasonably allocated in such a manner are unallocated and are considered
common to the City as a whole.
2. Accounts Receivable (in thousands of dollars):
Property taxes
Utili$ billings
Trade accounts
Other govemments
Other receivables
3. Accounte Payable and Accrued Liabilities (in thousands of dollats):
Trade payables
Prepaid property taxes
Salaries, wages and related costs
Deposits and holdbacks
Prepaid fees & charges
Other accrued liabilities
4. Tangible Capftal Assets (in thousands of dollars):
Engineering structures
Buildings
Machinery & equipment
Capitalleases
Land
2008 2007
1,110 $
4,621
5,U2
1,321
412
2008
7,066 $
2,281
2,1 59
2,678
281
78s
739
4,379
2,4U
3,371
2007
7,112
1,822
2J25
2,W
107
601
$ 15,250 $ 14,711
2008 2007
158,168
13,995
16,787
20,958
149,051
12,456
15,537
21,681
15.971 15.317
225,879 214,U2
37 lP age
51