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On Tuesday June 23rd, Port Moody City Council received the City of Port Moody’s 2014 Annual Report. As required by legislation, the report provides a snapshot of key City financial and operational activities and achievements for the last fiscal year. 

Mayor Mike Clay noted that 2014 was another exceptional year for the City. “Council and Staff continued to be very busy in 2014, which is evident by the number of completed major projects, expanded community events, increased civic engagement, and the extensive asset condition assessments with associated long term plans.” 

Reporting on operational activities, the report provides an overview of the City’s 10 operational departments with a breakdown of their functional divisions, and highlights – facts, figures and milestones. The report also details how the City performed against its stated goals and objectives for the year. Some notable highlights are: 

  • Generated savings/reallocations of between $0.5 Million and $1 Million across all departments through internal service assessments.
  • Increased use of social media which earned the City of Port Moody an Honourable Mention Award for Civic Engagement from the Union of BC Municipalities (UBCM).
  • Developed a Business Continuity Plan to build resiliency across all City departments in the event of business interruption.
  • Upgraded the intersection at Guilford Way and Ioco Road to improve sightlines and safety, and added sidewalks, bike lanes and traffic calming on several local roadways.
  • Finalized the Official Community Plan which was then adopted by Council.
  • Developed a Long Term Strategic Financial Framework to ensure a healthy and sustainable financial future.
  • Completed the condition assessment of the City’s roads, streets and highways.    
  • Completed a Library space analysis.
  • Updated the Parks and Recreation Master Plan.      
  • Hosted the 9th Annual Spike Awards to recognize business excellence in Port Moody.
  • Launched a Business Connections series, providing opportunities for local businesses to network, connect with the City and learn from economic leaders and specialists.     
  • Conducted an age-friendly planning project to look at recreation opportunities for seniors.
  • Provided support and assistance to Mossom Creek and Noons Creek hatcheries.
  • Initiated an Adopt a Street program. 

On the financial side, the report includes the Independent Auditor’s Report and comprehensive financial statements on the City’s financial position for 2014. It also includes statistical analyses of key business services and activities.  Drawing attention to the statistical analysis data, Mayor Clay pointed out that the report is not a boring document but contains interesting and valuable information. “The annual report is easy to read and is an opportunity for the public to get a really good idea of where the revenue comes from and how we use it to fund City services.”

The City of Port Moody also received the Canadian Award for Financial Reporting (CAnFR) for its 2013 Annual Report. The CAnFR award is presented annually by the Government Finance Officers Association (GFOA) of the U.S.A. and Canada. This is the 10th year in a row that Port Moody has won this prestigious award.