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www.insideHALTON.com | OAKVILLE BEAVER | Thursday, July 17, 2014 | 8 2013 was a year full of positive momentum in Oakville. Oakville's Town Council continued to create a cleaner, greener town with lower rates of growth in population and taxes. We did this with a steady focus on increasing efficiency, value and livability. We've moved down the rate of increases of both the average total property tax bill and the total property tax levy, by relentlessly focusing on efficiency. We have cut tax-paid debt by 56 per cent and we're making growth pay for itself to the maximum allowed by law. We're continuing to save green space and add community facilities. We added 800,000 square feet of community facilities to the previous total of 1.1 million. We have plans that continue this work. Our vision is to become Canada's most livable town. We're looking to the future with Oakville's fiscal strength in mind. 2014 has seen the lowest overall tax increase in 15 years, at 0.7 per cent. We're enhancing highly valued town and regional services while keeping our progress affordable. Oakville is entering a time of renewal. Going forward together, we will open Oakville's state-of-the-art new hospital. Together we will renew Oakville's downtown: rebuilding our streetscape and revitalizing our business district, library and theatre complex. Together we will build three new community centres for the areas around Kerr Street, the old hospital and North Park. Together we will create jobs, ease traffic, and keep up the fit, finish and polish of our town's infrastructure. You can find the full 2013 Annual Report at oakville.ca, which details the hard work of Members of Council and town staff over the past year. You can always contact me with any comments, questions or suggestions at mayor@oakville.ca. Mayor Rob Burton 2013 Annual Report Highlights Consolidated Statement of Financial Position The town's annual report is a comprehensive accounting of our work in the last year. Our financial statements are audited by KPMG who have confirmed that they present fairly the town's strong financial position. A brief summary below shows that Oakville is well positioned to face the future. December 31, 2013, with comparative information for 2012 (In thousands of dollars) 2013 2012 1,405,846 2,765 1,408,611 1,693,097 Non-financial assets 2013 $13,258 16,312 24,543 270,454 197,470 522,037 2012 14,010 18,906 27,294 237,072 195,645 492,927 32,769 19,936 39,367 32,592 60,867 20,294 2,616 208,441 284,486 Accumulated surplus Tangible capital assets Prepaid expenses and inventory 1,425,750 2,958 1,428,708 1,743,547 Financial assets Cash and cash equivalents Accounts receivable Taxes receivable Other Investments Investment in Oakville Hydro Corporation Surplus Invested in tangible capital assets Other Equity in Oakville Hydro Unfunded Post employee benefits Long-term liabilities 1,425,750 37,188 197,470 (24,565) (55,877) 1,579,966 1,405,846 34,318 195,645 (22,910) (60,867) 1,552,032 Financial liabilities Accounts payable and accrued liabilities Other current liabilities Deferred revenue ­ obligatory reserve funds Deferred revenue Long-term liabilities Post employment benefit liability WSIB liability Net financial assets 26,011 20,009 47,078 33,658 55,877 21,869 2,696 207,198 314,839 Reserves set aside for specific purposes by Council Total reserves Total reserve funds Accumulated surplus 89,834 73,747 1,743,547 70,627 70,438 1,693,097 For the full 2013 Annual Report, as well as the town's Municipal Performance Measurement Program, visit oakville.ca, and learn about: · 2013 Audited Financial Statements · Five Year Statistical Review (2008­2012) · 2013 Awards and Recognition · 2013 Accomplishments · Organization Structure · 2011­2014 Strategic Plan