Over the last several months, Langley City council has been reviewing the 2018 financial results of the municipality. This includes reviewing the independent audit of our financials as well as reconciling the 2018 budget with the year-end results. This information is used to help produce an annual report which must be made available for the public to view by the end of June each year. This is a requirement under provincial legislation.
Langley City has posted its 2018 annual report online. The formatting of this year’s annual report has changed compared to previous years. The annual reports have been traditionally text heavy. This year, the annual report provides a simple dashboard-like look at the accomplishments of Langley City departments. The following is an example for the Engineering, Parks, & Environment Department.
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| 2018 Accomplishments of Langley City’s Engineering, Parks, & Environment Department. Select image to enlarge. |
One of the interesting sections of the report is property tax revenue collected. Municipalities collect property taxes on behalf of other organizations; municipalities do not control the taxes levied by those organizations. The following table outlines the property taxes collected in Langley City in 2018. Around 58% of property taxes collected went to Langley City directly.
| Property Tax For: | Amount |
|---|---|
| Langley City | $26,952,217 |
| School Board | $14,308,048 |
| TransLink | $2,872,013 |
| British Columbia Assessment Authority | $440,504 |
| Metro Vancouver Regional District | $473,148 |
| Downtown Langley Merchants Association* | $443,237 |
| Municipal Finance Authority | $1,991 |
The City also received $15.7 million in user fees which include water and sewer fees. The majority of the utility fees are used to purchase water and sewer services from the Metro Vancouver Regional District.
The annual report also contains information about how the City has been meeting the strategic initiatives of council, information about community grants, and information about permissive property tax exemptions.
The report without the financial statements is around 30 pages long. Please check it out to learn more about your local government and the services it provided last year.
*Only levied on commercial properties downtown.
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