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Jun 07, 2019 Return to Headlines

Coquitlam Releases 2018 Annual Report

by Rebecca Vaughan |

COQUITLAM, BC, June 7, 2019 – The City of Coquitlam’s 2018 Annual Report reflects a busy year for the City as we worked to enhance services to meet the needs of our growing community, and continued to set the stage for a vibrant future.

The report offers a snapshot of the City’s strategic focus areas, 2018 achievements, 2019 priorities, and consolidated financial statements as of December 31, 2018.

Key highlights in the report include enhanced services, capital investments, park and community centre improvements and progress on critical community issues, such as housing affordability. The City also takes pride in having earned provincial and national recognition in several areas, including being named one of B.C.’s Top Employers, an award for excellence in asset management from the Union of BC Municipalities and a national win in the Communities in Bloom competition.

Progress in Strategic Goal Areas
Coquitlam’s Annual Report outlines 2018 achievements in each strategic goal area. For example:

  • Strengthen neighbourhoods
    • Completed significant work on the City Centre Area Plan.
    • Held the City’s first Housing Forum and continued to implement the Housing Affordability Strategy; nearly 5,000 dedicated market and non-market rental units are in process.
    • Completed multiple park construction projects, including improvements to Rochester Park and Mountain View Park, and the new Burke Mountain Pioneer Park.
  • Expand local jobs, local prosperity
    • Facilitated the addition of 26,370 square metres of new commercial and industrial space across the city.
    • Opened the Business LinQ office at City Hall to provide a one-stop resource for those looking to start or grow a business in Coquitlam.
  • Increase active participation & creativity
    • Registered over 705,000 participants in the City’s recreation programs, and saw over 1 million paid admissions to City recreational facilities.
    • Completed the development of a Seniors Services Strategy, creating a framework for the future participation of older adults and seniors in recreation, parks and culture.
    • Completed the Master Plan for Town Centre Park, enhancing a community amenity in Coquitlam’s City Centre, and completed upgrades to four parks as part of the Southwest Park Revitalization (Park Blitz) program: Poirier Tot Lot, Cape Horn, Meadowbrook and Mariner parks.
  • Enhance sustainability of City services and infrastructure
    • Continued work on the planning of the Burquitlam YMCA.
    • Implemented changes to the curbside collection program with the goal of decreasing human-wildlife conflicts.
    • Made important upgrades to the city’s water and sewer facilities, which deliver services crucial to the wellbeing of our citizens.
  • Achieve excellence in City governance
    • Recognized as one of British Columbia’s Top Employers.
    • Expanded use of the online snow reporting tool, allowing residents to submit service requests online and outside of normal operating hours.
    • Supported 11 different community-led cultural events with a combined attendance of 17,725.

Financial Statements
The audited financial results indicate that the City’s financial standing continues to remain strong, with an increase over 2017 in financial assets resulting from additions to capital and statutory reserves.

Consolidated revenues for 2018 totaled $432 million, an increase over the previous year of $17 million. This increase is attributed to continuing growth in the community resulting in additional development-related revenues and contributions, as well as increased activity in City programs and services, such as those delivered through community recreation facilities.

Expenses increased slightly in 2018 due to extreme weather events and the costs associated with the addition of new assets and infrastructure.

Award-Winning Financial Reporting
Last year, and for the 17th consecutive year, the City of Coquitlam received the Government Finance Officers Association (GFOA) Canadian Award for Financial Reporting (2017).  The City has also received the Outstanding Achievement in Popular Annual Reporting Award (2017) and Distinguished Budget Presentation Award (2018). The 2018 Annual Report will also be submitted to the GFOA for consideration for this year’s awards.

Learn More
For more information, or to read the complete 2018 Annual Report, visit www.coquitlam.ca/annualreport.

Copies of the report are also available for viewing at City Hall.

Media contact:

Michelle Hunt
General Manager, Finance & Technology