• Taxes and payments-in-lieu of taxes receivable have increased slightly due to the healthy local economy and continued collection efforts.

• Trade and other receivables have decreased slightly due to ongoing collection efforts.

• Accounts payable and accrued liabilities have increased slightly by approximately $3.2 million as compared to 2018.

• Long-term liabilities have decreased by approximately $7.5 million as expected and consistent with City Council’s debt reduction plan. Of the total long-term debt of $70.6 million, only $26.2 million was issued by the Corporation of the City of Windsor. Approximately $29.6 million is the City’s share of approximately $59 million in debt issued by the Essex Windsor Solid Waste Authority. The remaining $14.8 million was issued by the Windsor Essex Community Housing Corporation.

• Employee future benefit liabilities have increased by approximately $37.8 million compared to 2018 based on an actuarial valuation, largely due to amortization of past actuarial net losses, actuarial service costs and interest. Currently the Corporation is funding this actuarial liability on a cash basis as actual payments are required. Note 6 (b) to the consolidated financial statements provides a breakdown of the various components.

• Deferred revenue of $68.9 million (2018 $40.9 million) has been recorded as a financial liability on the Statement of Financial Position. This results primarily from the unused balance of various legislated reserves as well as the contra-reserve that was established in 2012 to offset the building permit reserve fund deficit. Note 8 (b) provides a breakdown of the components of the deferred revenue.

• Inactive contaminated sites liabilities represent a very specific estimate for:

  • City responsibility for sites not in productive use (generally vacant land or unused buildings)

  • Sites that likely contain contamination that exceeds an environmental standard and would require cost to remediate to that standard based on current or intended use

  Like other unfunded liabilities, such as employee future benefit obligations, the City is neither required to budget for nor fund this liability. The liability has remained generally consistent in2019.

• Prepaid expenses have decreased slightly in 2019 due to the timing of payments.

Change in Accumulated Surplus on Consolidated Statement of Financial Position

The Consolidated Statement of Operations reflects an annual surplus of $61.9 million for Public Sector Accounting Board (PSAB) financial reporting purposes.