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  • 20report06 The City of Mississauga

    20report06 The City of Mississauga

    For the fiscal year ending December 31, 2006

    20report06 The City of Mississauga

    20report06 The City of Mississauga

    Credit River and Mississauga Civic Centre photo by John Carvalho

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    Toronto Ajax

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    Clarington

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    Durham

    Georgina

    East Gwillimbury

    Newmarket

    Aurora Whitchurch- Stouffville

    Richmond Hill

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    York Peel

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    GTA Municipalities

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    Burlington Oakville

    Toronto Ajax

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    Clarington

    Scugog

    Brock

    Durham

    Georgina

    East Gwillimbury

    Newmarket

    Aurora Whitchurch- Stouffville

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  • Hazel McCallion Mayor

    Carmen Corbasson Ward 1 Councillor

    Patricia Mullin Ward 2 Councillor

    Maja L.A. Prentice Ward 3 Councillor

    Frank Dale Ward 4 Councillor

    Eve Adams Ward 5 Councillor

    Carolyn Parrish Ward 6 Councillor

    Nando Iannicca Ward 7 Councillor

    Katie Mahoney Ward 8 Councillor

    Patricia Saito Ward 9 Councillor

    Sue McFadden Ward 10 Councillor

    George Carlson Ward 11 Councillor

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    SOUTH CAROLINA

    GEORGIA

    ALABAMA

    TENNESSEE

    KENTUCKY

    MISSISSIPPI

    ARKANSAS

    MISSOURI

    LOUISIANA

    FLORIDA

    NEW BRUNSWICK

    PRINCE EDWARD ISLAND

    Gulf of St. Lawrence

    Lake Superior

    Lake Huron

    Lake Michigan

    Lake Erie

    Lake Ontario

    GULF OF MEXICO

    ATLANTIC OCEAN

    Mississauga

    ´CANADA

    NEWFOUNDLAND

    City of Mississauga within Central/Eastern North America

    Mayor Hazel McCallion and Members of Council

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    City of Mississauga Councillors Ward 1 Carmen Corbasson Ward 2 Patricia Mullin Ward 3 Maja L.A. Prentice Ward 4 Frank Dale Ward 5 Eve Adams Ward 6 Carolyn Parrish Ward 7 Nando Iannicca Ward 8 Katie Mahoney Ward 9 Patricia Saito Ward 10 Sue McFadden Ward 11 George Carlson

  • for the fiscal year ending December 31, 2006

    Mississauga, Ontario, Canada

    Produced by the Finance Division, Corporate Services Department of the City of Mississauga in cooperation with all civic departments, offices and agencies.

    20report06 The City of Mississauga

    20report06 The City of Mississauga

    FINANCIAL REPORT 2006 page �

  • page � CITY OF MISSISSAUGA

    Table of Contents

    Introductory Section

    Introductory Section Our Values 3 GFOA Award: Canadian Award for Financial Reporting 4 Message from the Mayor 5 About Mississauga Quick Facts 6 City Manager’s Message 7 Corporate Organizational Structure 8 Our City at a Glance 9 Message from Commissioner of Corporate Services and Treasurer 11 Financial Management Processes 12

    Financial Statements Section

    Financial Year in Review �4 2006 Consolidated Financial Performance 14 Operating Fund Overview 14 Capital Fund Overview 15 Reserves and Reserve Funds Overview 16 Financial Graphs �7 Consolidated Statement of Financial Position 17 Consolidated Statement of Financial Activities 18 Capital Fund, Reserves and Reserve Funds 19 Introduction to the Financial Statements �0 City Financial Statements Auditors’ Report 21 Consolidated Statement of Financial Position 22 Consolidated Statement of Financial Activities 23 Consolidated Statement of Changes in Financial Position 24 Notes to the Consolidated Financial Statements 25 Consolidated Schedule of Current Fund Operations 33 Consolidated Schedule of Capital Fund Operations 34 Consolidated Schedule of Reserves and Reserve Funds 35 Trust Funds Auditors’ Report 36 Trust Funds - Statement of Financial Activities and Changes in Fund Balances 37 Trust Funds - Statement of Financial Position 37 Trust Funds - Notes to the Financial Statements 38

    Statistical Section Five-Year Financial Review 40 10 Largest Corporate Property Taxpayers 43 Notes 44

    Contact Information: Reaching out to all our Community 48 �006 Successes Report Insert

  • FINANCIAL REPORT �006 page �

    Our Values

    TRUST We commit to upholding public trust and to promoting a climate of trust between employees, management, Council and residents. We strive to be open and responsive in managing the City.

    QUALITY We deliver services and programs which enhance the quality of life of residents and employees.

    EXCELLENCE We serve as a model of excellent public administration and deliver the right services in a superior way, at a reasonable cost.

    Introductory Section

  • GFOA Award Canadian Award for Financial Reporting

    In recognition of the City’s ability to present financial information in a clear, concise and informative manner, the City of Mississauga was awarded the Canadian Award for Financial Reporting for its 2005 Annual Financial Report by the Government Finance Officers Association of the United States and Canada for the ninth year. This award program encourages innovative financial reporting and maintains a high quality standard that is recognized amongst peers. The City of Mississauga is continuing this standard of high quality reporting for the submission and evaluation for the 2006 award program.

    Introductory Section

    page 4 CITY OF MISSISSAUGA

  • Message from the Mayor

    In 2006, the City of Mississauga continued its tradition of prudent financial planning, fiscal responsibility and excellence in municipal leadership. Working closely with my colleagues on Council and City staff, we embarked on new challenges and received recognition at an international level.

    The City of Mississauga set the standard for excellence on the international stage when we won the prestigious 2006 World Leadership Award for our Healthy City Stewardship Centre (HCSC) initiative. Hosted in London, England, the awards celebrate th