Langley City’s 2021 Financial Statements including Council Wages and Expenses

The provincial government requires local governments to produce an annual report, which includes among other things community grants given, permissive tax exemptions, financial statements, and a declaration of people disqualified from being on Langley City Council.

Council approved the 2021 Annual Report for Langley City. You can read the full report on Langley City’s website.

As per BC law, Council must also adopt an annual Statement of Financial Information that includes Council, employee, and suppliers’ remuneration. Council also approved the 2021 Statement of Financial Information.

The following shows Council 2021 salaries, expenses, and benefits. Benefits can include travel and accident insurance (required for all members of Council), extended health, and dental.

Name	Remuneration	Expenses	Benefits	Total
Mayor Val van den Broek	$134,507	$7,481	$133	$142,121
Councillor Paul Albrecht	$63,330	$1,133	$3,742	$68,205
Councillor Teri James	$62,770	$1,036	$2,590	$66,396
Councillor Gayle Martin	$62,770	$676	$1,874	$65,320
Councillor Nathan Pachal	$60,528	$33	$133	$60,694
Councillor Rudy Storteboom	$62,770	$888	$3,182	$66,840
Councillor Rosemary Wallace	$62,770	$1,058	$3,742	$67,570

While I encourage you to read the complete financial statement, I wanted to highlight that the City also has $30 million in unused development cost charges. The City will use these funds for provincially approved road, water, sewer, storm sewer, and park projects that are required due to development in our community. In a previous post, you can read more about the complexities of development cost charges.

The City also has $45 million in reserve accounts, as shown.

Table of Statutory and Non-statutory Reserves. Select table to enlarge.

The City uses these funds for capital projects and future known operating expense increases. The Tax Stabilization fund provides a buffer for unknown expenses.