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Finance Committee Agenda June 12_ 2008

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Finance Committee Agenda June 12_ 2008 Powered By Docstoc
					                                          AGENDA
                      FINANCE COMMITTEE
                                 Regular Meeting

                        Thursday, June 12, 2008
                              9:00 a.m.

               2nd Floor Boardroom
     4330 Kingsway, Burnaby, British Columbia


 Please advise Eleanor Boldt at (604) 436-6836 if you are unable to attend.


Chair, Director Malcolm Brodie, Richmond
Vice Chair, Director Colleen Jordan, Burnaby
Councillor John Clark, West Vancouver
Councillor Robin Hicks, North Vancouver District
Director Marvin Hunt, Surrey
Councillor Craig Keating, North Vancouver City
Councillor Raymond Louie, Vancouver
Director Don MacLean, Pitt Meadows
Director Gayle Martin, Langley City
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June 5, 2008

                       NOTICE TO THE GVRD FINANCE COMMITTEE

You are requested to attend a Regular Meeting of the GVRD Finance Committee to be held at
9:00 am on Thursday, June 12, 2008 in the 2nd Floor Boardroom, 4330 Kingsway, Burnaby,
British Columbia.

                                        AGENDA

1.    ADOPTION OF THE AGENDA

      1.1      June 12, 2008 Regular Meeting Agenda
               Staff Recommendation:
               That the Finance Committee adopt the agenda for its regular meeting scheduled
               for June 12, 2008 as circulated.


2.    ADOPTION OF THE MINUTES

      2.1      April 17, 2008 Regular Meeting Minutes
               Staff Recommendation:
               That the Finance Committee adopt the minutes of its regular meeting held
               April 17, 2008 as circulated.


3.    DELEGATIONS
      No items presented.


4.    INVITED PRESENTATIONS

      4.1      SmartGrowth BC
               Designated Speaker: Cheeying Ho, Executive Director


5.    REPORTS FROM COMMITTEE OR STAFF

      5.1      Anmore Renewable Energy Foundation
               Designated Speaker: Jim Rusnak
               Recommendation:
               That the Board approve the request from the Anmore Renewable Energy
               Foundation for a Community Grant in the amount of $8,000.

      5.2      Financial Relationship between Metro Vancouver, TransLink & MFA
               Designated Speaker: Jim Rusnak
               Recommendation:
               That the Board receive the report titled "Financial Relationship between Metro
               Vancouver, TransLink & MFA" dated April 25, 2008 for information.


                                            FIN-1
     5.3   2007 Schedules of Financial Information
           Designated Speaker: Phil Trotzuk
           Recommendation:
           That the Board approve the 2007 Schedules of Financial Information for
           Remuneration & Expenses and for Payments to Suppliers for Goods and
           Services.

     5.4   Status of Utilities Capital Expenditures to April 30, 2008
           Designated Speakers: Tim Jervis & Phil Trotzuk
           Recommendation:
           That the Committee receive the report titled Status of Utilities Capital
           Expenditures to April 30, 2008, dated May 20, 2008 for information.

     5.5   Floating Rate Exposure to April 30, 2008
           Designated Speaker: Gord Nicol
           Recommendation:
           That the Finance Committee receive the report titled “Floating Rate Exposure to
           April 30, 2008” dated June 5, 2008 for information.

     5.6   Investment Position and Returns – January 1, 2008 to April 30, 2008
           Designated Speaker: Gord Nicol
           Recommendation:
           That the Finance Committee receive the report titled “Investment Position and
           Returns – January 1, 2008 to April 30, 2008” dated June 5, 2008 for information.

     5.7   Tender/Contract Award Information – March and April 2008
           Designated Speaker: Tracey Husoy
           Recommendation:
           That the Finance Committee receive the report titled “Tender/Contract Award
           Information – March and April 2008” dated May 23, 2008 for information.

     5.8   Manager’s Report
           • Verbal Update on REAC/RFAC/RAAC Presentation re Financial Implications
           • Internal Audit


6.   INFORMATION ITEMS

     6.1   Correspondence dated April 25, 2008 from UBCM re Response from Finance
           Minister Carol Taylor on the Carbon Tax


7.   OTHER BUSINESS
     No items presented.




                                        FIN-2
8.   RESOLUTION TO CLOSE MEETING

     Staff Recommendation:
     That the Finance Committee close its regular meeting scheduled for June 12, 2008
     pursuant to the Community Charter provisions, Section 90 (1) (g) as follows:
     “90 (1) A part of a committee meeting may be closed to the public if the subject matter
     being considered relates to or is one or more of the following:
             (g) litigation or potential litigation affecting the municipality.


9.   ADJOURNMENT
     Staff Recommendation:
     That the Finance Committee conclude its regular meeting of June 12, 2008.




                                              FIN-3
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              FIN-4
                                                                                     2.1

                    GREATER VANCOUVER REGIONAL DISTRICT
                             FINANCE COMMITTEE

Minutes of the Regular Meeting of the Greater Vancouver Regional District (GVRD)
Finance Committee held at 9:04 a.m. on Thursday, April 17, 2008 in the 2nd Floor
Boardroom, 4330 Kingsway, Burnaby, British Columbia.

PRESENT:
Vice Chair, Director Colleen Jordan, Burnaby
Councillor John Clark, West Vancouver
Councillor Robin Hicks, North Vancouver District
Director Marvin Hunt, Surrey
Councillor Craig Keating, North Vancouver City
Councillor Raymond Louie, Vancouver
Director Don MacLean, Pitt Meadows (arrived at 9:17 a.m.)
Director Gayle Martin, Langley City

ABSENT:
Chair, Director Malcolm Brodie, Richmond

STAFF:
Johnny Carline, Commissioner/Chief Administrative Officer
Jim Rusnak, Chief Financial Officer
Klara Kutakova, Assistant to Regional Committees, Corporate Secretary’s Department


1.     ADOPTION OF THE AGENDA

       1.1    April 17, 2008 Regular Meeting Agenda

              It was MOVED and SECONDED
              That the Finance Committee adopt the agenda for its regular meeting
              scheduled for April 17, 2008 as circulated.
                                                                                CARRIED

2.     ADOPTION OF THE MINUTES

       2.1    March 13, 2008 Regular Meeting Minutes

              It was MOVED and SECONDED
              That the Finance Committee adopt the minutes of its regular meeting held
              March 13, 2008 as circulated.
                                                                                CARRIED

3.     DELEGATIONS
       No items presented.

4.     INVITED PRESENTATIONS
       No items presented.



                          Minutes of the Regular Meeting of the GVRD Finance Committee
                                          held on Thursday, April 17, 2008  Page 1 of 7

                                        FIN-5
5.     REPORTS FROM COMMITTEE OR STAFF

       5.1    External Auditors’ Report
              Report dated March 28, 2008 from Brian Szabo, Associate Partner,
              Assurance Services, KPMG LLP, providing KPMG audit findings.

              It was MOVED and SECONDED
              That the Finance Committee receive for information the KPMG Oversight and
              Independence Letters dated March 28, 2008 regarding the annual audit of the
              Greater Vancouver Districts and the Greater Vancouver Housing Corporation
              for the year ended December 31, 2007.
                                                                              CARRIED

       5.2    Audited 2007 Financial Statements
              Report dated April 10, 2008 from Jim Rusnak, Chief Financial Officer, and
              Phil Trotzuk, Financial Planning and Operations Division Manager, Finance
              and Administration Department, presenting the 2007 Audited Financial
              Statements for the Greater Vancouver Regional Districts and the Greater
              Vancouver Housing Corporation for approval.

              On-table replacement pages were distributed at the meeting and are retained
              with the April 17, 2008 Finance Committee agenda package.

9:17 a.m.
       Director MacLean arrived at the meeting.

              It was MOVED and SECONDED
              a) That the GVRD Board approve the draft Audited 2007 Consolidated
                  Financial Statements for the Greater Vancouver Regional District as
                  received by the Committee, and receive for information the Greater
                  Vancouver Housing Corporation draft Audited 2007 Financial Statements;
              b) That the GVS&DD Board approve the draft Audited 2007 Financial
                  Statements for the Greater Vancouver Sewerage and Drainage District;
              c) That the GVWD Board approve the draft Audited 2007 Financial
                  Statements for the Greater Vancouver Water District;
              d) That the GVHC Board receive and approve the draft Audited 2007
                  Financial Statements for the Greater Vancouver Housing Corporation.
                                                                                CARRIED

       5.3    2007 Financial Results
              Report dated April 10, 2008 from Jim Rusnak, Chief Financial Officer, and
              Phil Trotzuk, Financial Planning and Operations Division Manager, Finance
              and Administration Department, presenting the financial results for the 2007
              fiscal year for all Metro Vancouver Districts as well as the Metro Vancouver
              Housing Corporation.

              It was MOVED and SECONDED
              That the Board receive the report titled “2007 Financial Results” dated
              April 8, 2008 for information.
                                                                                   CARRIED


                          Minutes of the Regular Meeting of the GVRD Finance Committee
                                          held on Thursday, April 17, 2008  Page 2 of 7

                                        FIN-6
      The Committee expressed concerns about Metro Vancouver being liable for
      TransLink’s (South Coast British Columbia Transportation Authority)
      borrowing given the Metro Vancouver Board no longer has the authority to
      authorize TransLink’s borrowing.

      It was MOVED and SECONDED
      That the Finance Committee direct staff to report on the relationship and
      potential financial implications to Metro Vancouver of the South Coast British
      Columbia Transportation Authority borrowing through the Municipal Finance
      Authority.
                                                                           CARRIED

5.4   Status of Reserves
      Report dated April 7, 2008 from Phil Trotzuk, Financial Planning and
      Operations Division Manager, Finance and Administration Department,
      proposing additional reserve applications to those previously approved by the
      Board in November 2007 and projecting reserve statuses of operating and
      designated reserves for 2008.

      It was MOVED and SECONDED
      That the GVRD, GVS&DD and GVWD Boards approve the application of
      reserves as set out in Schedules 1 and 2 of the report titled “Status of
      Reserves” dated April 7, 2008.
                                                                            CARRIED

5.5   Status of Utilities Capital Expenditures to December 31, 2007
      Report dated March 31, 2008 from Tim Jervis, Manager, Engineering and
      Construction Department, and Phil Trotzuk, Financial Planning and
      Operations Division Manager, Finance and Administration Department,
      providing a status update on utilities capital expenditures.

      It was MOVED and SECONDED
      That the Board receive the report titled "Status of Utilities Capital
      Expenditures to December 31, 2007" dated March 31, 2008 for information.
                                                                            CARRIED

5.6   Floating Rate Exposure to December 31, 2007
      Report dated April 2, 2008 from Gord Nicol, Comptroller Treasury, Finance
      and Administration Department, reporting on the GVRD’s exposure to interest
      rate risk from floating rate debt, as required by policy.

      It was MOVED and SECONDED
      That the Finance Committee receive the report titled “Floating Rate Exposure
      to December 31, 2007” dated April 2, 2008 for information.
                                                                          CARRIED

5.7   Investment Position and Returns – September 1, 2007 to December 31,
      2007
      Report dated April 2, 2008 from Gord Nicol, Comptroller Treasury, Finance
      and Administration Department, reporting on investment returns pursuant to
      the requirements of the Investment Policy.

                  Minutes of the Regular Meeting of the GVRD Finance Committee
                                  held on Thursday, April 17, 2008  Page 3 of 7

                                FIN-7
      It was MOVED and SECONDED
      That the Finance Committee receive the report titled “Investment Position and
      Returns – September 1, 2007 to December 31, 2007” dated April 2, 2008 for
      information.
                                                                         CARRIED

5.8   GVWD Borrowing Bylaw No. 242, 2008
      Report dated February 1, 2008 from Phil Trotzuk, Financial Planning and
      Operations Division Manager, Finance and Administration Department,
      seeking approval of the GVWD Bylaw No. 242, 2008 enabling MFA
      borrowing.

      It was MOVED and SECONDED
      That the Board:
      a) adopt the recommendation of the Commissioner being Attachment 1 to
          the report dated February 1, 2008 titled “MFA Borrowing Authority -
          GVWD Bylaw No. 242, 2008”, to authorize, subject to the approval of the
          Inspector of Municipalities, the issue and sale to the Greater Vancouver
          Regional District of a debenture or debentures, or other form of security
          or indebtedness, not to exceed the aggregate principal amount of
          $700,000,000 in lawful money of Canada, dated such date or dates,
          maturing on such date or dates, and bearing interest at such rate or rates
          as the Commissioner may determine, to borrow money to be applied for
          the purpose of carrying out the District’s objects as set forth in the Greater
          Vancouver Water District Act, for the purpose of effecting the powers
          vested in the Greater Vancouver Water District by subsection 1 of Section
          6A of the said Act, and for the purpose of repaying or refunding either
          before or at maturity monies which have been borrowed by the District by
          the issue of temporary securities and other debentures or securities, all
          as set out in greater detail in proposed Bylaw No. 242, 2008; and
      b) give leave to introduce “Greater Vancouver Water District Borrowing
          Bylaw Number 242, 2008” being a bylaw to authorize the issue and sale
          of debt not to exceed the aggregate principal amount of $700,000,000,
          and that it be read a first, second and third time, and forwarded to the
          Inspector of Municipalities for approval.
                                                                              CARRIED

5.9   GVRD Security Issuing Bylaw No. 1073, 2008 re GVWD Borrowing Bylaw
      No. 242, 2008
      Report dated February 1, 2008 from Phil Trotzuk, Financial Planning and
      Operations Division Manager, Finance and Administration Department,
      seeking authorization of a bylaw for issuance of debenture debt through the
      GVRD and the Municipal Finance Authority of British Columbia in the amount
      of $700 million dollars for the GVWD and to provide the long term capital
      borrowing authority for the anticipated requirements of the next five years.




                   Minutes of the Regular Meeting of the GVRD Finance Committee
                                   held on Thursday, April 17, 2008  Page 4 of 7

                                  FIN-8
       It was MOVED and SECONDED
       That GVRD Bylaw No. 1073, 2008 cited as "Greater Vancouver Regional
       District Security Issuing Bylaw No. 1073, 2008" be introduced, read a first,
       second and third time, and that it be forwarded to the Inspector of
       Municipalities for approval.
                                                                           CARRIED

5.10   GVS&DD Borrowing Bylaw No. 242, 2008
       Report dated February 1, 2008 from Phil Trotzuk, Financial Planning and
       Operations Division Manager, Finance and Administration Department,
       seeking authorization of the GVS&DD Borrowing Bylaw No. 242, 2008 to
       authorize the issue and sale to the Greater Vancouver Regional District of a
       debenture or debentures, or other form of security or indebtedness, not to
       exceed the aggregate principal amount of $700,000,000.

       It was MOVED and SECONDED
       That the Board:
       a) adopt the recommendation of the Commissioner being Attachment 1 to
           the report dated February 1, 2008 titled “GVS&DD Borrowing Bylaw No.
           242, 2008”, to authorize, subject to the approval of the Inspector of
           Municipalities, the issue and sale to the Greater Vancouver Regional
           District of a debenture or debentures, or other form of security or
           indebtedness, not to exceed the aggregate principal amount of
           $700,000,000 in lawful money of Canada, dated such date or dates,
           maturing on such date or dates, and bearing interest at such rate or rates
           as the Commissioner may determine, to borrow money to be applied for
           the purpose of carrying out the District’s objects as set forth in the Greater
           Vancouver Sewerage & Drainage District Act, for the purpose of effecting
           the powers vested in the Greater Vancouver Sewerage & Drainage
           District by subsection 1 of Section 6A of the said Act, and for the purpose
           of repaying or refunding either before or at maturity monies which have
           been borrowed by the District by the issue of temporary securities and
           other debentures or securities, all as set out in greater detail in proposed
           Bylaw No. 242, 2008; and
       b) give leave to introduce “Greater Vancouver Sewerage & Drainage District
           Borrowing Bylaw Number 242, 2008” being a bylaw to authorize the issue
           and sale of debt not to exceed the aggregate principal amount of
           $700,000,000, and that it be read a first, second and third time, and
           forwarded to the Inspector of Municipalities for approval.
                                                                               CARRIED

5.11   GVRD Security Issuing Bylaw No. 1074, 2008 re GVS&DD Borrowing
       Bylaw No. 242, 2008
       Report dated February 1, 2008 from Phil Trotzuk, Financial Planning and
       Operations Division Manager, Finance and Administration Department,
       seeking authorization of the Greater Vancouver Regional District Security
       Issuing Bylaw No. 1074, 2008, a bylaw to for the issuance of debenture debt
       through the GVRD and the Municipal Finance Authority of British Columbia in
       the amount of $700 million for the GVS&DD and to provide the long-term
       capital borrowing authority for the anticipated requirements of the next five
       years.

                    Minutes of the Regular Meeting of the GVRD Finance Committee
                                    held on Thursday, April 17, 2008  Page 5 of 7

                                   FIN-9
            It was MOVED and SECONDED
            That GVRD Bylaw No. 1074, 2008 cited as “Greater Vancouver Regional
            District Security Issuing Bylaw No. 1074, 2008” be introduced, read a first,
            second and third time, and that it be forwarded to the Inspector of
            Municipalities for approval.
                                                                                CARRIED

     5.12   Tender/Contract Award Information – January and February 2008
            Report dated March 27, 2008 from Tracey Husoy, Purchasing and Risk
            Division Manager, Finance and Administration Department, informing about
            contracts valued at or estimated at more than $250,000.00.

            It was MOVED and SECONDED
            That the Finance Committee receive the report titled “Tender/Contract Award
            Information – January and February 2008” dated March 27, 2008 for
            information.
                                                                              CARRIED

     5.13   Follow-up to March 13, 2008 Financial Workshop
            Report dated April 4, 2008 from Jim Rusnak, Chief Financial Officer,
            proposing a workshop on financial issues in the Metro Vancouver region, with
            reference to Metro Vancouver’s long-term infrastructure planning, and in
            context with other municipalities and authorities in the Metro Vancouver
            region.

            Members were advised of revisions made to the presentation introduced at
            the Committee at its March 2008 meeting, based on the feedback received
            from the Committee.

            It was MOVED and SECONDED
            a) That the Board receive the report titled "Follow-up to March 13, 2008
                Financial Workshop" dated April 4, 2008 to the Board for information; and
            b) That the Board direct Metro Vancouver staff, with the assistance of
                RAAC, REAC and RFAC, to coordinate a May 2008 workshop to
                consider the financial challenges facing the region (including
                municipalities and transportation authority) in coming years, with the
                presentation titled “Follow-up to March 13, 2008 Financial Workshop”
                comprising part of the content of the workshop, and that the results of the
                workshop be reported back to the Finance Committee and to the Board.
                                                                                 CARRIED

     5.14   Manager’s Report
            Jim Rusnak, Chief Financial Officer, acknowledged the work of the Finance
            and Administration Department carried out in support of the KPMG, external
            auditor.

6.   INFORMATION ITEMS
     No items presented.

7.   OTHER BUSINESS
     No items presented.

                        Minutes of the Regular Meeting of the GVRD Finance Committee
                                        held on Thursday, April 17, 2008  Page 6 of 7

                                      FIN-10
8.     RESOLUTION TO CLOSE MEETING

       It was MOVED and SECONDED
       That the regular meeting of the GVRD Finance Committee scheduled for
       April 17, 2008 be closed pursuant to the Community Charter provisions, Sections
       90(1)(d) and (g) as follows:
       “90(1) A part of a committee meeting may be closed to the public if the subject
                 matter being considered relates to one or more of the following:
                 (d) the security of the property of the regional district; and
                 (g) litigation or potential litigation affecting the regional district.
                                                                                         CARRIED

9.     ADJOURNMENT

       It was MOVED and SECONDED
       That the Finance Committee conclude its regular meeting of April 17, 2008.

                                                                                    CARRIED
                                                                            (Time: 10:51 a.m.)




_____________________________________                ________________________________
Klara Kutakova,                                      Colleen Jordan, Vice Chair
Assistant to Regional Committees




004614439 FINAL


                           Minutes of the Regular Meeting of the GVRD Finance Committee
                                           held on Thursday, April 17, 2008  Page 7 of 7

                                          FIN-11
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              FIN-12
                                                                                          5.1



                                                Finance Committee Meeting Date: June 12, 2008

To:           Finance Committee

From:         Jim Rusnak, Chief Financial Officer

Date:         April 21, 2008

Subject:      Anmore Renewable Energy Foundation

Recommendation:
That the Board approve the request from the Anmore Renewable Energy Foundation for a
Community Grant in the amount of $8,000.


1. PURPOSE

To provide a Community Grant to the Anmore Renewable Energy Foundation in support of their
proposed Renewable Energy Demonstration Centre, and in particular their solar energy
demonstration project.

2. CONTEXT

The Village of Anmore has created this Foundation as part of a Sustainable Region initiative.
The attached documentation from Mayor Weinberg provides an overview of the work done to
date, and indicates that Metro Vancouver’s Community Grant, if awarded, would go towards
“signage and a public education campaign that has to be done in order for the significance to be
communicated to the larger community.”

This project has received federal and provincial funding, as well as support from the private
sector and educational partners.

3. ALTERNATIVES

The Board could approve this request.

The Board could deny this request.

4. CONCLUSION

Staff recommend that the Board approve this request.



JR/eb
Attachments

Document #004341656




                                               FIN-13
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              FIN-14
9 April 2008

Metro Vancouver
4330 Kingsway
Vancouver, BC V5H 4G8


Attention: Metro Vancouver Environment Committee


                  Re: Anmore Renewable Energy Foundation – Progress Report and
                                 Request For A Community Grant

Dear Members of the Committee:

The Village of Anmore has really taken to heart the spirit of Metro Vancouver’s leadership towards a
Sustainable Region and is doing its best to contribute what it can to this initiative. Through the creation of
the Anmore Renewable Engery Foundation we have:

    •   Raised over $250,000 in cash and in kind for a feasibility study into a Renewable Energy
        Demonstration Centre
    •   Completed micro-hydro studies and architectural concept drawings for a potential building
    •   Erected a meteorological tower at Buntzen Lake to test for trace wind resources
    •   Installed a 3 KW solar array at the Anmore Village Hall
    •   Formalized a net metering arrangement with BC Hydro for the solar array
    •   Initiated an application- with the assistance of private partner – pursuant to BC Hydro’s <10 MW
        Standard Offer Call for power to build a 3 MW ‘in-fill’ hydro project at the Buntzen tunnel
    •   Have had many interesting discussions at the Foundation table and in the community regarding
        other potential initiatives in renewable energy supply and demand – and GHG reduction

We like to see our community as a potential ‘laboratory’ for new sustaiability practises and on that basis
would like to apply for funding from the Community Grants program. Added to the funding and matching
grants that we have received from the federal and provincial government – and the significant cash and
in-kind support that we have attracted from private sector and educational partners – a contribution from
Metro Vancouver would enable us to show that we had support from all three levels of government.

The money would be spent in two ways: there are some remaining bills from trades and fabricators that
built the solar array; then there is signage and a public education campaign that has to be done in order
for the significance of these projects can be communicated to the local and larger community. This is just
the right time to be involved as we will be able to feature Metro Vancouver as a supporter in our publicity.


                                                                                                          …./2




                                                   FIN-15
                                                                    Letter to Metro Vancouver page 2




Please contact me if you have any questions or queries. I look forward to hearing back from you soon.

Sincerely,




Dr. Hal Weinberg
Chair, Anmore Renewable Energy Foundation and
Mayor, Village of Anmore
2697 Sunnyside Road
Anmore, BC V3H 5G9
Tel: (604) 469-9877
Email: hweinber@sfu.ca
Url: www.anmorefoundation.ca

Enclosures:

Sample Letters of support from*

Day4 Energy Ltd.
Keen Engineering Ltd. (now Stantec)
School of Resource and Environmental Management, Simon Fraser University
Integrated Energy Systems, University of Victoria

*more letters are available on request.




                                                FIN-16
FIN-17
FIN-18
FIN-19
FIN-20
                                                                                              L. Pitt, Ph.D.
                                                                                     Research Coordinator




July 19, 2005


Mr. Franco Zanatta
Western Economic Diversification Canada
700-601 West Hastings Street
Vancouver BC V6B 5G9


Dear Franco:

Re: Funding Contributions to the Anmore Renewable Energy Project

We are writing to confirm our support for and our estimated in-kind contribution to the feasibility and
development of the Anmore Renewable Energy Project (AREP).

Background
As you are aware the University of Victoria’s Institute for Integrated Energy Systems (IESVic) has agreed
in principle to support the feasibility and development of the AREP and is providing in-kind support to
assist this project. This letter outlines our anticipated contribution to this project.

Our contributions reflect the scope of services outlined in the document Anmore Renewable Energy
Project: Feasibility Study and Scoping Document submitted to your office on July 5 2005.

Our contribution:
First, IESVic is developing a simulation tool as part of our Integrated Renewable Energy Experiment
(IRENE). In addition we have experience with other renewable energy system simulation tools as well.
We plan to use these simulation tools and our expertise gained with the IRENE platform to help in the
feasibility and planning stages for the AREP facility. A pilot project such as AREP is exactly the type of
project that we envisioned the IRENE platform and associated simulation tools to be applied to. Hence
we are excited by the emergence of a practical application for the systems under development.

Second, IESVic has developed, over the past two-years, a strong working relationship with the Huu Ahy
Aht First Nation and have recently completed an energy assessment for this community. Our next phase
of work is performing a detailed assessment of a small hydro development on the Sarita River that may
form the basis of a community energy system for the village of Annacla. Our expertise in working with a
First Nations community will be valuable in helping the Anmore Renewable Energy Project in this aspect
of their goals.

Third, a new Chair in Sustainable Energy Systems Design is under consideration at UVic. As part of the
mandate, the nominee, Dr. Peter Wild will be establishing relationships and opportunities for engineering
students to gain practical design experience. The type of facility envisioned by the Anmore Foundation
has excellent potential to provide a number of such opportunities on an on-going basis. Dr. Wild will
therefore be well positioned to contribute to the educational space requirements in the design of the AREP
facility.


            University of Victoria/IESVic, PO Box 3055, STN CSC, Victoria, BC V8W 3P6 CANADA
            Tel: (250) 721 8935 Fax: (250) 721 6323   Email: lpitt@uvic.ca   www.iesvic.uvic.ca

                                                 FIN-21
We have estimated, based on our current knowledge and understanding of the project and our role in the
project components related to programming, planning, design, construction and operation of the AREP,
that the following in-kind contribution from IESVic will be:



               IESVic Personnel         Consulting         Equivalent         In-kind value
                                          Time           Charge out Rate

               Dr. Lawrence Pitt      5 days             $500/day                2,500

               Dr. Peter Wild         4 days             $600/day                2,400
               Tom Schmiester         5 days             $300/day                1,500
               (PhD candidate)
               Matt Schuett           5 days             $300/day                1,500
               (MASc Candidate)

                   IESVic                 Value            Equivalent
                  Equipment                              Charge out Rate

               IRENE                  $400,000           $5000/week              5,000

               Simulation tools       $100,000           $1500/week              1,500

                                   Total In-kind contribution:      $14,400


Conclusions
UVic is committed to providing educational and research opportunities for to support the development of
green and sustainable energy solutions. We believe our contributions to the AREP will assist not only our
institution but the project itself, and assist in fostering an improved understanding of sustainable
development and the educational and research requirements for renewable green energy.

If you have any questions regarding the above please do not hesitate to contact me.


Yours truly,




Lawrence Pitt
Research Coordinator

LP:sjw




                                                     2

                                                  FIN-22
                                                                                         5.2



                                             Finance Committee Meeting Date: June 12, 2008

To:        Finance Committee

From:      Jim Rusnak, CFO

Date:      April 25, 2008

Subject:   Financial Relationship between Metro Vancouver, TransLink & MFA

Recommendation:
That the Board receive the report titled "Financial Relationship between Metro Vancouver,
TransLink & MFA" dated April 25, 2008 for information.


1. PURPOSE

To inform the Board on the financial relationship between Metro Vancouver, TransLink and the
Municipal Finance Authority (MFA), given the enactment of the South Coast British Columbia
Transportation Authority Act.


2. CONTEXT

TransLink Borrowing Limit and Approval Process

Bill 43 – 2007, the South Coast British Columbia Transportation Authority Act (SCBCTA Act)
was enacted in late 2007. This act amended the Greater Vancouver Transportation Authority
Act (GVTA Act), and created a new governance model for TransLink. Under the GVTA Act,
Metro Vancouver’s Board had an oversight role with responsibility to review and approve
TransLink Strategic Transportation Plans and their borrowing limits. Metro Vancouver acted as
a conduit for all of TransLink’s borrowing through the MFA, and in fact Translink’s debt to the
MFA, along with their Short and Long Term Investments, were reflected in the Financial
Statements of Metro Vancouver.

Metro Vancouver, along with the member municipalities are jointly and severally liable for all
borrowings through the MFA, and this continues under the new Act.

The SCBCTA has created the Mayor’s Council on Regional Transportation, comprised of the 21
Mayors of the region. Their role is to consider the interests of the region as a whole. Among
other functions, this council appoints the TransLink Board of Directors, appoints the Regional
Transportation Commissioner, receives base plans as well as long term strategic plans, and
approves any supplemental transportation and financial plans. Essentially, this Mayor’s Council
assumes much of the governance responsibility previously held by Metro Vancouver’s Board.




                                            FIN-23
Finance Committee – May 15, 2008                                                            Page 2
Financial Relationship between Metro Vancouver, TransLink & MFA



Section 31 of the SCBCTA Act establishes the borrowing limits for Translink, and dictates that
the outstanding debt obligations arising from borrowings must not exceed the greater of the
following:

               1. $1 billion, 50 million
               2. an amount proposed by a resolution of the board, and ratified by a resolution
                  of the Metro Vancouver board
               3. an amount proposed in a supplement approved by the Mayor’s Council,
                  after consultation with the Metro Vancouver board.

TransLink’s current debt cap is $2.8 billion, pursuant to a resolution under #2 above. It is
conceivable that in the future, TransLink’s debt cap will be extended beyond current level, and
Metro Vancouver’s role in that process will be one of consultation only.

MFA and Rating Agencies

Apart from the establishment of corporate borrowing limits, the actual process of borrowing from
the MFA involves a fairly rigorous process. Loan Authorization Bylaws require three readings
by the appropriate Board, followed by submission to the Ministry of Community Services
("MCS") for review and approval of the Inspector. In some cases this is followed by an Elector
approval process. Then the Loan Authorization Bylaw is reconsidered by the Board and, if
adopted, and after a one month quashing period, the borrower applies to the MCS for a
Certificate of Approval for the bylaw. With all of these approvals in place, a request can then be
submitted to the MFA.

Twice a year clients of the MFA submit requests for funding. Taking into consideration market
and economic conditions, the Board of Trustees of the MFA may authorize the issue and sale of
securities in an amount sufficient to meet these requests. Under the MFA Act, four of the
Trustees are Metro Vancouver Board members.

MFA currently enjoys triple “A” ratings from S&P, Moody’s and Fitch, the three major ratings
agencies. Each of these agencies exercises a great degree of diligence and oversight in their
issuance and maintenance of their ratings. They obviously rely on a number of factors in
making their determinations. Moody’s opening comments in their rationale state “The Aaa
rating on debt issued by the MFA reflects a strong institutional framework and
substantial liquidity. Significant bondholder security is provided by the joint and several
liability of members of regional districts that borrow from MFA, investments equivalent to
24.6% of net direct debt and unlimited taxing powers on all taxable properties within the
province.”

TransLink also maintains separate credit ratings, and in an October 2007 report by Moody’s is
rated Aa3, and AA by DBRS. The new governance structure under the SCBCTA Act is
considered a positive move by Moody’s, in their comments “Together, the proposed changes
are expected to allow for greater certainty in planning, especially respecting sources of
revenue available to fund debt service related to capital commitments. The lack of
certainty that existed within the previous model had been identified by Moody’s as a
credit challenge. Another characteristic of the previous model that would be retained is
that borrowing of the GVTA would continue to be joint and several obligations of all of
the member municipalities that make up the service area. This is a key credit strength as
it binds together all member municipalities in decisions respecting capital investments in
transportation and the debt associated with those decisions.”




                                               FIN-24
Finance Committee – May 15, 2008                                                           Page 3
Financial Relationship between Metro Vancouver, TransLink & MFA



They do express some concern over potential cost overruns on major projects, and note that
while overruns on Canada Line and Golden Ears have been transferred to the concessionaires
of the projects that “any cost overruns experienced with major future projects could
necessitate increased funding by the GVTA that could, in turn, lead to increased debt and
pressure on its operating budget.”

MFA Debt and Borrower Composition

The following graph is an extract from Fitch Ratings March 2008 analysis of the MFA, and
shows the make-up of debt by borrower. In 2007 MFA’s gross debt was around $5.4 billion, or
$4.1 billion net of sinking funds and debt reserves. Fitch estimated that to be around $805 per
capita. If you exclude user fee supported debt (eg. Water and Sewer systems) they estimate
the net debt per capita at about $403.




TransLink is MFA’s largest single borrower. They have an extensive capital plan, and are in the
process of planning to meet the Provincial Transportation Plan goals. Fitch offered the following
comments on TransLink: With their capital expansion, TransLink “may grow to be 50% of
MFA’s total loan portfolio by 2015. However, as with all MFA borrowers, the system’s
available revenues constrain its borrowing capacity. By statute, the TransLink system
cannot budget a deficit, ensuring that its revenue streams support any proposed debt
issuance.”


3. ALTERNATIVES

N/A




                                               FIN-25
Finance Committee – May 15, 2008                                                             Page 4
Financial Relationship between Metro Vancouver, TransLink & MFA



4. CONCLUSION

Metro Vancouver’s Board no longer has direct control over TransLink’s business operations nor
their level of debt. There is a statutory obligation for consultation with Metro Vancouver, but no
direct control.

The “Mayor’s Council on Regional Transportation” does have control over TransLink’s business
operations and debt, and it is incumbent upon that council to act in the best interests of the
region.

Joint and several liability for debt is an underlying principle of MFA’s success, and that joint and
several responsibility is a significant factor underpinning MFA’s strong credit ratings.

MFA’s application, review and lending policies appear to be prudent, conservative and effective.
Metro Vancouver’s board is well represented through the appointment of four trustees to the
MFA board.

TransLink will continue to be the largest borrower through MFA, backed by approved business
plans articulating the sources of revenue sufficient to service and repay their borrowings over
time.

There will be considerable third party oversight on TransLink and on the MFA through the
various ratings agencies, and any downgrades will be known to Metro Vancouver.

Rating agencies, at this time, view the new TransLink governance structure as a positive
change, and there is nothing to suggest that there will be a predictable adverse impact on
MFA’s ratings, or upon any other MFA member’s ability to borrow.




JR/eb

Document #004617751




                                               FIN-26
                                                                                           5.3


                                              Finance Committee Meeting Date: June 12, 2008


TO:           Finance Committee

FROM:         Phil Trotzuk, Financial Planning & Operations Manager

DATE:         June 5, 2008

SUBJECT:      2007 Schedules of Financial Information

Recommendation:
That the Board approve the 2007 Schedules of Financial Information for Remuneration &
Expenses and for Payments to Suppliers for Goods and Services.


1. PURPOSE

To present the 2007 Schedules of Financial Information as part of the reporting requirements of
the Financial Information Act.

2. CONTEXT

The Financial Information Act is provincial legislation that requires local government to prepare
the following statements and schedules of financial information annually:

   (1) statement of assets and liabilities;
   (2) an operational statement;
   (3) a schedule of debts;
   (4) a schedule of guarantee and indemnity agreements;
   (5) a schedule showing remuneration and expenses paid to or on behalf of each employee
       that exceeds $75,000;
   (6) a schedule showing the payments for each supplier of goods or services that exceeds
       $25,000.

The requirements of the Financial Information Act are addressed in two stages.

The first four requirements were met by the annual audited financial statements which were
adopted by the Board in April, while the remaining two requirements must be met by June 30
and are covered by the schedules included as attachments to this report.




                                             FIN-27
Finance Committee – June 12, 2008                                                         Page 2
2007 Schedules of Financial Information



The requirements under (5) are met by Schedules 1 to 4 which include remuneration and
expenses paid to or on behalf of directors, committee members, employees and any severance
payments as well as a reconciliation of these amounts to the financial statements. Expenses
included are those incurred while conducting Metro Vancouver business.

The requirements under (6) are met by Schedules 5 to 7 which include payments made to
suppliers in both Canadian and US dollars as well as a reconciliation of the payments to the
financial statements.


3. CONCLUSION

The 2007 Audited Financial Statements were adopted by the Board in April 2008. The attached
supplementary information was included in the context of the audit, but provides additional
detailed information that is required for public disclosure. Approval concludes the legislated
requirements.

Once approved, the Financial Information Act filing information is then available for viewing by
the public and anyone can acquire a hard copy of the information from the Finance and
Administration Department for a fee of $5.001.




PT/eb
Attach.

Document #004619659




1
    The fee is prescribed by provincial regulation.
                                                      FIN-28
                        METRO VANCOUVER

                 FINANCIAL INFORMATION ACT FILING



               STATEMENT OF FINANCIAL INFORMATION

              FOR THE YEAR ENDED DECEMBER 31, 2007




THIS STATEMENT OF FINANCIAL INFORMATION INCLUDES THE ACCOUNTS OF:

GREATER VANCOUVER REGIONAL DISTRICT
GREATER VANCOUVER WATER DISTRICT
GREATER VANCOUVER SEWERAGE AND DRAINAGE DISTRICT
GREATER VANCOUVER HOUSING CORPORATION




                              FIN-29
This page left blank intentionally




              FIN-30
FIN-31
This page left blank intentionally




              FIN-32
                         STATEMENT OF FINANCIAL INFORMATION
                           For the Year Ended December 31, 2007


                                                    INDEX




1) Statement of Assets and Liabilities .............................................. See Financial Statements

2) Operational Statements ............................................................... See Financial Statements

3) Schedule of Debts........................................................................ See Financial Statements

4) Schedule of Guarantee and Indemnity Agreements .................... None

5) Schedule of Remuneration and Expenses

              Members of the Board of Directors
              And Elected Officials .................................................................Schedule 1

              Employees.................................................................................Schedule 2

              Reconciliation of Remuneration and Expenses
              To Financial Statements............................................................Schedule 3

              Statement of Severance Agreements........................................Schedule 4

6) Schedule of Payments to Suppliers for Goods and Services

              Payments to Canadian Suppliers ($Cdn) ..................................Schedule 5

              Payments to U.S. Suppliers ($US) ............................................Schedule 6

              Reconciliation of Payments for Goods and
              Services to Financial Statement ................................................Schedule 7




                                                     FIN-33
This page left blank intentionally




              FIN-34
                                                                                    Schedule 1
                                                                                    Page 1 of 4


SCHEDULE OF REMUNERATION AND EXPENSES

For the year ended December 31, 2007

Members of the Board of Directors and Elected Officials

Name                          Position                    Remuneration   Expenses

Alberts,Kurt                  Board, Member               $     10,859
Anderson,Heather              Council of Council                    21
Anderson,Mary-Wade            Board, Member (Alternate)          4,820
Anton,Suzanne                 Board, Member                      8,069
Arnold,Jack                   Council of Council                   278
Asmundson,Brent               Board, Member (Alternate)          4,198
Ball,Elizabeth                Board, Member                     11,055
Barnes,Linda                  Board, Member (Alternate)          8,482
Barrett,Lisa                  Board, Member (Alternate)          3,070
Becker,Eric                   Council of Council                    30
Begin,Robert                  Council of Council                    30
Bing,Douglas                  Council of Council                   278
Bookham,Pamela                Council of Council                   278
Bose,Robert                   Board, Member (Alternate)          1,011
Bowen,Michael                 Committee Member                   3,825
Brodie,Malcolm                Board, Member                      9,082
Cadman,David                  Board, Member (Alternate)         19,247          9,340
Calendino,Pietro              Board, Member (Alternate)          5,981
Campbell,Robert               Council of Council                   526
Capri,Kim                     Board, Member                      4,608
Chow,George                   Board, Member (Alternate)            823
Clark,John                    Board, Member (Alternate)            290
Clay,Mike                     Council of Council                   774
Corrigan,Derek                Board, Member                     16,577
Cote,Jonathan                 Council of Council                   278
Day,Charles                   Council of Council                 3,284
Daykin,Ernest                 Committee Member                   3,562
Deal,Heather                  Board, Member (Alternate)          2,786
Dhaliwal,Satvinder            Council of Council                   526
Dilworth,Diana                Council of Council                   248
Donnelly,Finbarr              Committee Member                   3,518
Donnelly,M                    Council of Council                 5,454
Drake,Bruce                   Board, Member (Alternate)          3,740
Drew,Ralph                    Board, Member                     17,299          1,873
Dueck,Judy                    Board, Member                      4,868
Dunn,Ronald                   Board, Member (Alternate)            248
Duxbury,Nancy                 Council of Council                 1,482
Eisel,Debra                   Council of Council                   278
Elkerton,Janis                Board, Member (Alternate)          6,014
Elliott,Robert                Board, Member (Alternate)          3,758
Engelland,Krista              Board, Member (Alternate)            775
Evans,Garth                   Council of Council                   278
Fassbender,H. Peter           Board, Member (Alternate)          2,500
Fearnley,Robert               Council of Council                   248
Ferguson,George               Board, Member                      4,116




                                              FIN-35
                                                                                    Schedule 1
                                                                                    Page 2 of 4


SCHEDULE OF REMUNERATION AND EXPENSES

For the year ended December 31, 2007

Members of the Board of Directors and Elected Officials

Name                          Position                    Remuneration   Expenses

Ferguson,Stephen              Council of Council                   278
Forrest,Michael               Council of Council                    30
Forster,Judy                  Board, Member                     12,710
Forsyth,Ralph                 Council of Council                     -
Fox,Charles                   Council of Council                    30
Frinton,Peter                 Council of Council                   248
Gibson,Gary                   Board, Member                     16,129
Gill ,Mohindar                Board, Member                      7,941
Gill,Tom                      Council of Council                    21
Glover,M                      Council of Council                   278
Goldsmith-Jones,Pamela        Board, Member                      9,061
Hamilton,William              Council of Council                 4,990          2,199
Harper,William                Council of Council                 1,052
Harris,Janice                 Committee Member                   2,014
Hawksworth,George             Council of Council                    30
Heneault,Linda                Board, Member (Alternate)            279
Hepner,Linda                  Board, Member                      8,370
Heywood,Robert                Council of Council                    30
Hicks,Robin                   Committee Member                   1,764
Higginbotham,Judith           Board, Member (Alternate)          5,148
Hocking,Dave                  Board, Member                      5,310
Hogarth,Allen                 Council of Council                   278
Howard,Rob                    Board, Member (Alternate)            237
Hunt,Marvin                   Board, Member                     21,679          7,622
Jackson,Lois                  Board, Member                     54,242         10,044
Johnston,Daniel               Board, Member (Alternate)          4,009
Jordan,Colleen                Board, Member                      9,321
Juvik,Ken                     Council of Council                    30
Keating,Craig                 Board, Member (Alternate)            733
King,Linda                    Board, Member (Alternate)          3,687
Kositsky,Melvin               Committee Member                   2,748
Ladner,Peter                  Board, Member                     25,617
Lahti,Meghan                  Council of Council                    84
Lee,Bar-Chya                  Board, Member                      4,877
Little,Mike                   Committee Member                   3,472
Loewen,Dave                   Council of Council                    30
Long,Bob                      Committee Member                   3,810
Louie,Raymond                 Board, Member (Alternate)          1,819
Low,Duncan                    Committee Member                   1,240
Lynch,Barrie                  Board, Member                      6,640
MacLean,Donald                Board, Member                     14,994
Martin,Gayle ME               Board, Member                     25,671          3,574
Martin,Mary                   Board, Member (Alternate)            992
Mauger,Sharla-Dawn            Committee Member                   3,562
McIntosh,Elizabeth            Council of Council                   248




                                              FIN-36
                                                                                     Schedule 1
                                                                                     Page 3 of 4


SCHEDULE OF REMUNERATION AND EXPENSES

For the year ended December 31, 2007

Members of the Board of Directors and Elected Officials

Name                          Position                    Remuneration   Expenses

McNulty,William               Board, Member (Alternate)          2,748
Moore,Greg                    Council of Council                   992
Morse,Alison                  Council of Council                   248
Mussatto,Darrell              Board, Member                     16,250
Nixon,Alan                    Board, Member (Alternate)          8,298          1,840
Osterman,Robert               Council of Council                   248
Peddemors,Stewart             Committee Member                   7,094
Penner,Darrell                Committee Member                   4,058
Perrault,Barbara              Council of Council                   308
Rankin,Lee                    Council of Council                   278
Reid,Mae                      Board, Member (Alternate)            733
Richardson,Colin              Council of Council                   248
Robson,Gordon                 Committee Member                   2,749
Rockwell,Karen                Committee Member                   1,736
Ross,Jamie                    Council of Council                    30
Ross,Patricia                 Council of Council                   248
Schaffer,Ted                  Council of Council                   278
Schechter,Samuel              Council of Council                   278
Sekora,Louis                  Council of Council                    30
Smith,Terrance                Council of Council                   278
Soprovich,William             Council of Council                   248
Speirs,Craig                  Council of Council                   278
Steele,Helen                  Council of Council                12,305
Stevenson,Tim                 Board, Member                     14,796          1,667
Steves,Harold                 Board, Member                     14,746
Stewart,Kenneth               Committee Member                   5,110
Stewart,Richard               Committee Member                   3,562
Sullivan,Samuel               Board, Member (Alternate)          1,239
Todd,Matthew                  Council of Council                   774
Tolchard,Andrew               Council of Council                   278
Trasolini,Giuseppe            Board, Member                     20,414          4,885
Turpin,Lisa                   Council of Council                    30
Vickberg,Howie                Council of Council                   248
Villeneuve,Judy               Board, Member (Alternate)          3,470
Vishloff,Terry                Council of Council                   278
Volkow,Nick                   Council of Council                    30
Walters,Debra                 Council of Council                   278
Walton,Richard                Board, Member                     11,488              123
Ward,John                     Council of Council                   992
Watkins,Shannon               Council of Council                   278
Watts,Dianne                  Board, Member                      2,986
Weinberg,Harold               Board, Member                      8,359
Williams,Lorrie               Committee Member                   2,758
Wilson,Maxine                 Board, Member                      6,719
Wolder,Ken                    Council of Council                   744




                                              FIN-37
                                                                                    Schedule 1
                                                                                    Page 4 of 4


SCHEDULE OF REMUNERATION AND EXPENSES

For the year ended December 31, 2007

Members of the Board of Directors and Elected Officials

Name                          Position                    Remuneration   Expenses

Wright,Michael                Board, Member (Alternate)          5,960
Wright,Wayne                  Board, Member                     18,220          2,421
Wyman,Max                     Board, Member                     12,938
Young,Scott                   Board, Member                      6,002


TOTAL                                                     $    647,873   $    45,587




                                              FIN-38
                                                                                                              Schedule 2
                                                                                                             Page 1 of 10

     SCHEDULE OF REMUNERATION AND EXPENSES
     For the year ended December 31, 2007
     Employees

     Name                                    Remuneration (1)                     Expenses (2)       Total

     Alexander,Murray                        $           81,051            $             2,108   $       83,159
     Ali,Amzad                                          111,091                          7,991          119,082
     Allan,Chris                                         97,577                          5,717          103,295
     Allas,Toivo                                        169,274                          4,625          173,899
     Amos,William                                        81,082                          2,931           84,013
     Andrusiak,Edward                                   154,924                          1,102          156,026
     Archibald,Paul                                     133,468                          6,136          139,604
     Arkell,Keith                                       101,068                            756          101,825
     Ashley,Kenneth                                     113,146                          5,818          118,965
     Austrom,Gordon                                      87,595                          1,475           89,070
     Ayalp,Met                                           79,521                          1,081           80,603
     Babensee,Chantal                                   112,094                          9,007          121,101
     Bains,Udham                                         73,034                         11,038           84,072
     Bajkin,Jugoslav                                     77,303                          1,707           79,011
     Ballack,Rawle                                      106,990                            534          107,524
     Banman,Michael                                     104,491                          2,828          107,319
     Baskalovic,Dragan                                   97,475                            404           97,879
     Bates-Frymel,Diana                                  79,130                          3,675           82,805
     Bator,Bradley                                       74,437                          8,932           83,368
     Bean,Roger DA                                       91,159                          1,890           93,049
     Beaumont,D                                          79,680                            387           80,067
     Bell,Thomas                                         91,568                              -           91,568
     Bellwood,Ross                                       86,256                            405           86,661
     Benson,Christopher                                  89,984                              -           89,984
     Berglund,Michael                                    73,446                          3,066           76,513
     Bertold,Stanley                                     99,225                            692           99,916
     Bertolone,Nick                                     125,316                          1,142          126,459
     Bickford,Karen                                      94,025                          1,945           95,970
     Bigg,Terry                                          75,164                            771           75,935
     Blankert,Bernie                                     76,219                              -           76,219
     Bleick,Anita                                       108,921                          6,996          115,917
     Block,Randal                                        79,822                          1,727           81,549
     Blue,Bonnie                                         83,858                          4,038           87,895
     Bond,Brett                                          76,645                          5,043           81,688
     Bonin,Derek                                        102,776                          4,700          107,476
     Boss,Michael                                       113,505                          3,866          117,371
     Brace,Andrea                                       161,093                          5,908          167,001
     Brar,Joey                                           71,215                          6,596           77,811
     Brown,Debbie                                        78,498                          2,340           80,838
     Brown,Donna                                        109,484                          2,500          111,984
     Bungubung,Renato                                    80,497                          4,896           85,393
     Burn,William                                        70,543                          6,498           77,041
     Burton,Brent                                        97,380                          5,233          102,613
     Caird,David                                        106,329                          3,845          110,174
     Campeau,Bruce                                       91,190                             30           91,220
     Carline,Johnny                                     260,135                         12,061          272,196

(1) includes salary plus any taxable benefits.
(2) includes GVRD business-related expenses for training, travel, mileage, membership


                                                                FIN-39
                                                                                                          Schedule 2
                                                                                                         Page 2 of 10

     SCHEDULE OF REMUNERATION AND EXPENSES
     For the year ended December 31, 2007
     Employees

     Name                                    Remuneration (1)                     Expenses (2)   Total

     Carmichael,Jeffrey                                  73,210                         3,737        76,948
     Carrusca,Ken                                       113,975                         5,997       119,972
     Case,Douglas                                        77,240                         1,489        78,729
     Cavill,Robert                                      134,452                         5,880       140,332
     Chan,Jeffrey                                       108,664                         2,944       111,607
     Chan,Kenneth                                        91,065                         2,559        93,623
     Chan,Richard                                        97,679                         4,194       101,873
     Chaudhry,Pratibha                                   75,086                             -        75,086
     Cheng,Bob                                           80,497                         2,674        83,171
     Cheng,Shan                                          97,763                           504        98,267
     Cheong,Tony                                         87,695                           984        88,680
     Chilton,Alison                                      78,186                         7,539        85,726
     Chiu,Vincent                                       102,848                         2,225       105,073
     Choy,Harvey                                         97,128                         5,283       102,411
     Christie,Robert                                     89,229                           141        89,370
     Chu,Alfred KY                                      110,395                         3,628       114,023
     Clarke,Martin                                       79,173                         5,614        84,787
     Colnett,Dianna                                      85,729                         2,000        87,729
     Coulon,Harvey                                       76,716                         3,298        80,014
     Coutinho,Ed                                        112,571                         1,585       114,156
     Coutts,Robert                                       87,381                           630        88,011
     Coutu,Kevin                                         92,028                         1,904        93,932
     Cowan,Kathleen                                      85,751                         2,377        88,128
     Crosby,Jennifer                                     91,501                         4,834        96,335
     Crowle,John                                         96,773                         4,750       101,523
     Cruz,Fortunato                                      99,558                         1,611       101,169
     Currie,Graham                                       78,977                         1,159        80,136
     Dadalt,Wendy                                       113,772                         2,839       116,611
     Daines,Gerald                                       90,421                           310        90,731
     Dallimore,Howard                                    96,313                         1,200        97,513
     D'Angelo,Robert                                    126,526                         2,795       129,321
     Davidson,Ian                                        75,232                           249        75,481
     Davies,Mike                                         74,152                           948        75,100
     DeCosse,Bradley                                     97,588                           417        98,004
     Delany,A Lloyd                                      82,342                         3,234        85,576
     Del-Linz,Giacomino                                  79,320                           203        79,523
     DeMarco,Christina                                  123,156                         4,442       127,597
     Der,Kelly                                           96,787                           289        97,076
     Dineen,Kevin                                       108,038                           137       108,175
     Dolemeyer,Frank                                     73,676                         1,565        75,241
     Donaghy,Steven                                      77,410                         1,795        79,205
     Donnelly,Daniel                                    124,910                         5,375       130,285
     Donnelly,Stephen                                   105,839                         1,700       107,539
     Dove,Franklin                                       80,586                           110        80,696
     Driedger,Donald                                    105,908                         1,427       107,335
     Dunkley,David                                      101,119                         2,691       103,810

(1) includes salary plus any taxable benefits.
(2) includes GVRD business-related expenses for training, travel, mileage, membership


                                                                FIN-40
                                                                                                          Schedule 2
                                                                                                         Page 3 of 10

     SCHEDULE OF REMUNERATION AND EXPENSES
     For the year ended December 31, 2007
     Employees

     Name                                    Remuneration (1)                     Expenses (2)   Total

     Dunn,John                                           86,556                              -       86,556
     Durran,Rick                                         96,773                          2,803       99,576
     Duthie,David                                        93,281                              -       93,281
     Duynstee,Theresa                                    78,336                            498       78,834
     Eastwood,William                                    76,125                              -       76,125
     Ebinesan,Joshua VK                                  72,600                          6,090       78,691
     Elliott,James                                       79,174                          3,610       82,784
     El-Rayes,Hamdy                                     125,333                          2,740      128,073
     Ergudenler,Ali                                     108,907                          4,251      113,158
     Erickson,Brian                                      75,142                            222       75,364
     Ferguson,A Mark                                    113,572                          6,630      120,202
     Ferguson,Michael                                    92,513                            225       92,738
     Fisher,Peter                                        76,307                            418       76,725
     Ford,Laurie                                         73,872                          2,789       76,662
     Forscutt,David                                      74,671                            434       75,105
     Forsyth,Scott                                      111,115                          3,687      114,802
     Fought,Rob                                         112,128                          1,113      113,242
     Franson,Rose-Helene                                 75,628                            540       76,168
     Fretz,Laurie                                        96,513                          2,697       99,210
     Froess,Douglas                                      96,773                          3,803      100,576
     Fung,Henry                                          93,766                          2,179       95,945
     Gagnon,Richard TA                                   74,015                          5,371       79,386
     Galazka,Kazimierz                                   82,746                              -       82,746
     Gale,Tony                                           80,131                            329       80,460
     Galick,Brent                                        83,675                          3,759       87,435
     Gallilee,Rick                                      102,110                          6,501      108,611
     Gant,Murray                                         99,169                          3,636      102,805
     Garvock,Michelle                                   113,669                            587      114,256
     Gasparro,George                                     88,649                          1,296       89,945
     Geche,Lilly                                         69,099                          9,981       79,081
     Gehrer,Christopher                                  76,912                            861       77,774
     Gentile,Gerry                                       74,676                          1,546       76,221
     Gibson,K Andrew                                     97,421                          2,920      100,341
     Giesbrecht,Paul                                    110,037                         13,242      123,280
     Gilbride,David                                     109,177                          1,860      111,037
     Gildemeister,Chrystal                               83,783                          1,288       85,071
     Glasgow,John                                        74,589                            675       75,264
     Gogol,Jeffrey                                       74,205                            910       75,115
     Goh,Cordelia                                        78,897                          4,876       83,774
     Goodine,Larry                                       91,468                             36       91,504
     Graham,Malcolm                                     150,564                          3,770      154,335
     Graham,Patrick                                      79,537                          1,480       81,017
     Green,Matthew                                       76,484                          4,989       81,473
     Gregonia,Theresa                                    94,772                          6,216      100,987
     Grieve,Beverly                                      86,534                          1,894       88,428
     Griggs,Marie                                       108,718                          4,579      113,298

(1) includes salary plus any taxable benefits.
(2) includes GVRD business-related expenses for training, travel, mileage, membership


                                                                FIN-41
                                                                                                          Schedule 2
                                                                                                         Page 4 of 10

     SCHEDULE OF REMUNERATION AND EXPENSES
     For the year ended December 31, 2007
     Employees

     Name                                    Remuneration (1)                     Expenses (2)   Total

     Gu,Li                                               87,538                         3,687        91,225
     Gulamhussein,Nazmudin                               77,529                         9,279        86,808
     Gulamhussein,Shiraz                                 90,923                             -        90,923
     Hajdukovic,Dan                                     113,376                         3,961       117,337
     Hampton,Carolyn                                     72,444                         3,456        75,900
     Hamza,Danny                                         77,574                         4,583        82,157
     Hansford,George                                    100,884                         4,089       104,972
     Harder,Susana                                       80,225                         3,388        83,613
     Hardie,Johnstone                                   114,355                         4,337       118,692
     Harris,Peter                                        85,777                         8,307        94,084
     Hayton,Scott                                        76,397                         1,798        78,195
     Heath,Howard                                       178,649                         5,050       183,700
     Hebert,Robert                                       78,117                           141        78,257
     Hengen,Thomas                                       96,909                         3,397       100,306
     Heyman,William                                      85,055                         3,919        88,974
     Hicks,Robert                                       108,907                           314       109,221
     Hicks,Terrance WP                                   90,134                             -        90,134
     Ho,Alfred                                           95,536                         5,859       101,395
     Hoff,Terry                                          80,940                           953        81,893
     Hoffman,David                                       98,684                         1,953       100,637
     Hoskins,Doug                                        75,557                         3,257        78,814
     Huang,Wei CG                                        80,315                         1,347        81,662
     Huber,Frank                                        130,696                         8,267       138,963
     Hubert,Barney AG                                    78,709                            87        78,795
     Hui,Terry FY                                        97,421                           871        98,293
     Humphris,Douglas                                   128,456                         5,824       134,280
     Hunt,Andrew                                         92,139                         4,870        97,010
     Husoy,Tracey                                       113,848                         2,765       116,613
     Hyslop,Ronald                                       84,703                         1,010        85,714
     Hystad,Brian                                       106,469                         8,385       114,854
     Isbister,Graham                                     77,023                           456        77,479
     Islam,Shahzad                                       91,464                         4,999        96,463
     Jackson,Robert                                      84,511                           158        84,669
     Jacob,Cristina                                     111,302                         7,351       118,653
     Jacques,Joseph                                      98,286                           259        98,545
     Jadrijev,Renato                                     76,075                         1,582        77,657
     Jennejohn,Derek                                     95,903                           489        96,392
     Jensen,Gudrun                                      105,969                         2,098       108,067
     Jensen,Michael                                      77,949                         1,487        79,436
     Jervis,Timothy                                     182,143                           860       183,003
     Jessa,Noordin                                       86,383                         7,607        93,989
     Johnson,Owen                                        71,495                         8,530        80,025
     Jones,Robert                                       131,635                         8,677       140,312
     Jung,Don                                            86,148                         8,428        94,575
     Juvik,Kenneth                                      109,622                         1,643       111,265
     Kadota,Paul                                        113,944                         4,233       118,176

(1) includes salary plus any taxable benefits.
(2) includes GVRD business-related expenses for training, travel, mileage, membership


                                                                FIN-42
                                                                                                          Schedule 2
                                                                                                         Page 5 of 10

     SCHEDULE OF REMUNERATION AND EXPENSES
     For the year ended December 31, 2007
     Employees

     Name                                    Remuneration (1)                     Expenses (2)   Total

     Kelder,Mike                                         82,011                            362       82,373
     Kelder,Murray                                      101,533                            232      101,765
     Kellas,Hugh                                        169,858                         10,982      180,840
     Kennett,Michael                                     88,090                          5,037       93,127
     Kim,Marian MH                                       90,086                            395       90,481
     Kleiberg,Julie                                      89,374                            997       90,371
     Kohl,Paul                                           97,421                          2,367       99,789
     Konvur,Linda                                        76,577                          2,946       79,523
     Kopp,Doug                                           77,574                            141       77,715
     Kostachuk,Jerry                                     88,102                              -       88,102
     Kuiper,Geert                                        85,890                         26,257      112,147
     Kuzyk,Randy                                         91,041                             79       91,120
     Kylmala,Senja                                       73,180                          2,278       75,457
     Laglagaron,Delia                                   217,234                         10,102      227,336
     Laird,Cameron                                       74,651                          1,784       76,435
     Lam,Yiu WP                                         123,368                          6,108      129,475
     Lan,Yao-Hung                                        91,092                          3,963       95,055
     Landry,Lynn                                         87,527                          4,143       91,670
     Launder,Vincent                                     92,192                          3,648       95,840
     Lee,Kenneth                                         97,232                          4,453      101,685
     Legault,Susan                                       84,513                             55       84,568
     Legge,Robert                                       113,773                          2,198      115,971
     Lenning,Daniel                                      83,950                          4,767       88,717
     Lepore,Pietro                                       78,911                          1,307       80,218
     Lewis,Norman                                        76,758                          3,079       79,836
     Lewis,Steven                                       107,685                            920      108,605
     Lindenbach,Kenneth                                  75,422                          1,887       77,309
     Littleford,Donald                                  160,800                          5,831      166,631
     Liu,George CH                                       93,335                         10,460      103,795
     Livingstone,William                                 74,460                            917       75,377
     Lowe,Don                                            90,209                          2,731       92,940
     Luccock,Edward                                      96,773                            399       97,172
     Lui,Gordon                                         108,959                         10,950      119,908
     Luongo,Ralph                                        96,308                            620       96,928
     Maag,David                                          97,421                          2,246       99,667
     MacConnell,Mark                                     73,814                          7,098       80,912
     MacFarlane,John                                     84,785                              -       84,785
     MacHaffie,Janice                                    72,389                          3,554       75,943
     MacKenzie,Sandra                                    89,632                          1,178       90,810
     MacLeod,D Clyde                                     83,975                          1,431       85,406
     MacQuarrie,Douglas                                 108,543                          4,983      113,526
     Manning,Ian                                        100,289                          3,897      104,186
     Marchand,Richard                                   142,108                          6,914      149,021
     Marchiel,Victor                                     84,849                          2,275       87,124
     Marchioni,John                                      72,156                          2,880       75,036
     Marconato,John                                      75,912                            505       76,417

(1) includes salary plus any taxable benefits.
(2) includes GVRD business-related expenses for training, travel, mileage, membership


                                                                FIN-43
                                                                                                          Schedule 2
                                                                                                         Page 6 of 10

     SCHEDULE OF REMUNERATION AND EXPENSES
     For the year ended December 31, 2007
     Employees

     Name                                    Remuneration (1)                     Expenses (2)   Total

     Marcus,Gerhard                                      96,864                          1,037       97,901
     Marr,Andrew                                        112,834                          4,431      117,265
     Marsh,Geoffrey                                     104,431                            841      105,272
     Mather,D.Wayne                                      89,358                            242       89,600
     Maurer,Donald                                       94,315                          5,060       99,374
     Maximuk,Gregory                                     84,057                          1,431       85,488
     Mayers,Michael                                      95,686                          1,706       97,392
     Mazzucco,Sean                                       78,088                              -       78,088
     McComb,Tom                                          90,849                          5,029       95,877
     McCorkindale,Neil                                   75,060                            225       75,285
     McCurrach,Raymond                                  116,644                         10,808      127,452
     McElroy,John                                        93,399                          1,087       94,486
     McFadyen,Cameron                                    77,583                          3,627       81,211
     McFarlane,Ronald                                    75,174                          1,253       76,427
     McGillivray,Grant                                   82,149                              -       82,149
     McInnes,Alvin                                       76,983                          3,132       80,115
     McKenna,William                                     72,017                          3,924       75,941
     McKenzie,Catherine                                  75,809                              -       75,809
     McLellan,Sean                                       80,101                          1,414       81,515
     Mcluskie,Jonathan                                   71,297                          6,112       77,408
     McQuarrie,James                                    104,629                          2,808      107,437
     McQueen,James Robert                                90,350                            332       90,682
     McQuillan,Dan                                       79,693                          1,159       80,853
     Medeiros,Jesse                                      75,709                              -       75,709
     Megas,Russell                                       81,436                            435       81,871
     Meldrum,Colin                                      101,104                          1,831      102,936
     Mennell,Morris                                      78,325                              -       78,325
     Merry,Callan                                       109,113                            552      109,665
     Meyer,Bill                                          97,186                          2,633       99,819
     Meynert,Franz                                       76,970                            603       77,572
     Miller,Christopher                                  86,451                            832       87,283
     Miller,Donald                                       81,701                            400       82,101
     Miller,Douglas                                      79,963                            725       80,688
     Miller-Werning,Leslie                               72,993                          6,618       79,612
     Milnes,Katherine                                    97,504                            201       97,704
     Mitchell,Allen                                      97,108                          5,320      102,428
     Morrell,William                                    113,080                            236      113,316
     Morris,Duane                                       131,429                          3,104      134,533
     Morrison,Daryl                                      84,675                             68       84,742
     Morrissey,Joseph                                    74,938                          6,904       81,842
     Mortazavi,Farshad                                   76,818                          3,205       80,022
     Morton,Gary                                        120,144                            417      120,561
     Muleski,Marilyn                                    110,855                            617      111,471
     Mullock,Leonard                                    115,856                            448      116,304
     Neale,Michael                                       76,299                          4,518       80,818
     Neden,Douglas                                      131,224                          4,461      135,684

(1) includes salary plus any taxable benefits.
(2) includes GVRD business-related expenses for training, travel, mileage, membership


                                                                FIN-44
                                                                                                          Schedule 2
                                                                                                         Page 7 of 10

     SCHEDULE OF REMUNERATION AND EXPENSES
     For the year ended December 31, 2007
     Employees

     Name                                    Remuneration (1)                     Expenses (2)   Total

     Nees,Roy                                            77,951                          1,614       79,564
     Nenninger,Friedbert                                129,054                          9,427      138,481
     Nesci,Christopher                                   87,492                              -       87,492
     Neubauer,Amanda                                     70,777                          4,739       75,516
     Ng,Bun                                              96,856                          3,576      100,433
     Nicholls,Robert                                    116,879                          8,134      125,014
     Nichols,George                                      80,146                          4,100       84,246
     Nicol,Gord                                         104,502                            191      104,694
     Ninow,Michelle                                      80,045                              9       80,053
     Nishimura,Ronald                                   104,948                            445      105,392
     Obrknezev,Boris                                     84,819                          2,636       87,455
     Oljaca,Goran                                       108,888                          5,323      114,211
     Olson,Judy                                          96,805                          1,374       98,179
     O'Melinn,Ann                                        76,039                          4,098       80,137
     Orr,Darren                                          75,901                              -       75,901
     Padovan,Silvano                                     79,532                            504       80,036
     Palmeri,Benedetto                                   83,091                          2,087       85,179
     Palsenbarg,Rudolf                                  115,208                          4,096      119,304
     Paone,Antonio                                       92,385                              -       92,385
     Pawluk,Lorne                                       101,215                          3,281      104,496
     Pellow,Scott                                       109,337                          3,693      113,030
     Perkins,Jim                                        103,418                         11,780      115,198
     Peters,Gregory                                     106,882                            240      107,123
     Peters,Sharon                                      106,036                          4,154      110,190
     Petersen,Douglas                                    96,865                             75       96,941
     Piombini,Marino                                     89,239                            822       90,061
     Pitre,Marcel                                        73,805                          3,160       76,965
     Plagnol,Christopher                                 98,261                          4,039      102,300
     Platson,John                                        78,946                            329       79,275
     Plavsic,Michael                                     97,619                            691       98,310
     Plouffe,Patrick                                     96,787                          2,980       99,767
     Plummer,Derek                                      108,822                          2,019      110,841
     Potter,Leonard                                      82,244                          1,030       83,274
     Praught,Sylvia                                      75,985                            812       76,797
     Ptak,Leslaw                                         97,128                          4,174      101,301
     Quan,Paul                                           85,004                            726       85,730
     Quan,Roger                                         113,006                          9,753      122,760
     Ragan,Melanie                                       97,592                          7,740      105,332
     Ranahan,Dennis                                     108,678                          4,626      113,304
     Randt,Ralph                                        108,593                          1,847      110,440
     Reid,Kenneth                                        77,029                          1,079       78,108
     Reil,Dean                                          109,248                          9,260      118,507
     Remillard,Paul                                     129,302                          4,980      134,282
     Reubart,Richard                                    101,024                            824      101,848
     Rich,Justin                                         97,277                          2,818      100,095
     Robb,Raymond                                       121,750                          2,141      123,891

(1) includes salary plus any taxable benefits.
(2) includes GVRD business-related expenses for training, travel, mileage, membership


                                                                FIN-45
                                                                                                          Schedule 2
                                                                                                         Page 8 of 10

     SCHEDULE OF REMUNERATION AND EXPENSES
     For the year ended December 31, 2007
     Employees

     Name                                    Remuneration (1)                     Expenses (2)   Total

     Roberts,Guy                                         97,665                            374       98,038
     Robertson,Judy                                      75,529                            422       75,951
     Romo,Ignacio                                        78,356                          1,859       80,215
     Ross,Dawn                                           70,050                          5,972       76,022
     Ross,Lyn                                            98,238                          2,291      100,529
     Roth,Robert                                         75,063                          1,599       76,662
     Roud,John                                           79,703                          5,398       85,101
     Rourke,Nina                                         80,361                          4,973       85,335
     Ruf,Mark                                            78,447                            991       79,438
     Ruth,Gordon                                        103,480                            125      103,605
     Sallows,Shannon                                     74,300                          2,954       77,254
     Samis,David                                         87,877                          1,198       89,076
     Saunders,James                                      77,925                          6,502       84,427
     Schade,Frieda                                      112,476                          2,673      115,149
     Schneider,Harvey                                    80,844                          5,552       86,397
     Schoemaker,Heather                                 154,056                         12,310      166,366
     Schwartzentruber,Chad                               74,828                            419       75,247
     Scott,David                                         76,303                              -       76,303
     Scott,Richard                                      113,124                          4,546      117,670
     Searle,Michael                                     101,395                          7,975      109,370
     Sellars,Iain                                       101,528                            663      102,191
     Shaheem,Zahid                                       76,814                            955       77,769
     Shao,Xiao Yun                                       96,026                            488       96,514
     Sharma,Abyartha                                     75,516                            904       76,420
     Sherwood,Deane                                      78,428                            418       78,846
     Sherwood,Herbert                                    75,527                          4,476       80,003
     Shibata,Kelly                                       90,071                          5,168       95,239
     Shore,Linda                                        160,800                          3,301      164,101
     Sidi,Shelina                                        89,981                          1,776       91,758
     Sinclair,Mark                                       97,539                            498       98,037
     Singh,Inderjit                                      98,775                          3,736      102,511
     Siu,David                                           99,456                            464       99,920
     Smith,Curtis                                        78,327                          1,303       79,630
     Smith,Dennis                                        80,805                              -       80,805
     Smith,Gregory                                      170,002                          2,070      172,073
     Smith,Joseph                                        92,408                          6,229       98,637
     Smitheringale,Kenneth                               77,135                          3,147       80,281
     Smyth,Desmond                                       97,667                          5,731      103,398
     So,Simon                                           129,104                          4,702      133,806
     Sokalski,Mitchell                                  118,109                            266      118,374
     Solon,Gary                                         108,542                          4,033      112,575
     Soo,Gary                                            94,327                          1,438       95,765
     Sorgiovanni,Joseph                                  97,289                          1,978       99,267
     Squire,Chris                                        96,835                          3,125       99,959
     Stephens,Kenneth                                    96,747                          1,638       98,385
     Stephens,Mark                                       75,907                            685       76,593

(1) includes salary plus any taxable benefits.
(2) includes GVRD business-related expenses for training, travel, mileage, membership


                                                                FIN-46
                                                                                                          Schedule 2
                                                                                                         Page 9 of 10

     SCHEDULE OF REMUNERATION AND EXPENSES
     For the year ended December 31, 2007
     Employees

     Name                                    Remuneration (1)                     Expenses (2)   Total

     Stevenson,Stephen                                   79,680                         2,770        82,449
     Stokes,Lynda                                       104,071                         3,624       107,695
     Strangway,Paul                                     106,503                         1,839       108,342
     Stringer,Michael                                   108,520                         1,253       109,772
     Stuart,Scott                                        76,312                           451        76,763
     Stubbs,Kenneth                                     104,575                         5,017       109,593
     Suddes,Stephen                                     100,547                           403       100,950
     Sukumar,Alady                                       73,225                         2,960        76,186
     Sywulych,Steve                                      97,277                         5,457       102,735
     Tack,Edmond                                         80,857                         5,864        86,721
     Tailford,John                                      111,248                         4,393       115,641
     Tancon,Daniel                                       96,339                           945        97,284
     Taverner,Andrew                                     78,597                         3,060        81,657
     Taw,Richard                                         98,009                         1,674        99,683
     Taylor,Alan                                         93,098                           445        93,544
     Teo,Dennis                                          86,322                         4,090        90,412
     Ternent,Stewart                                     97,600                           711        98,311
     Thien,Shaw                                         102,514                         7,184       109,698
     Thies,Gordon                                        75,612                         2,123        77,735
     Third,Alexander                                     87,998                         2,850        90,848
     Thompson,James                                      75,315                         2,830        78,145
     Tiffany,Erica                                       75,413                            91        75,504
     Tomsic,Heather                                      86,609                         5,450        92,059
     Towill,Marilyn                                     107,239                         1,258       108,497
     Trotzuk,Philip                                     136,780                         3,303       140,082
     Tsang,Tony                                          97,589                         1,044        98,632
     Tulett,Rodney                                       83,426                         4,896        88,322
     Turner,Karen                                        97,277                           735        98,013
     Unger,Horst                                         94,867                         3,358        98,225
     Van Oord,Ronald                                    117,850                         4,080       121,930
     van Roodselaar,Albert                              128,960                         5,002       133,962
     Vas,Erno                                            81,682                             -        81,682
     Vaughan,Bernard                                     97,848                           404        98,252
     Veenstra,Ted                                        75,894                         8,600        84,493
     Venuti,Gary                                         94,432                         3,787        98,219
     Verbeke,Trevor                                      96,235                             -        96,235
     Vetleson,Paulette                                  123,930                         5,635       129,565
     von Euw,Edward                                     114,130                         4,586       118,716
     Vosilla,Robert                                     108,316                           661       108,977
     Wallach,Richard                                     96,773                         1,137        97,911
     Wallis,Richard                                      91,923                            75        91,998
     Walsh,Heidi                                         76,974                         1,157        78,131
     Walsh,James                                        113,264                         2,189       115,453
     Walter,Nela                                         86,190                         5,032        91,222
     Wardlaw,Alistair                                    97,421                         6,012       103,433
     Warnock,Miles                                       80,052                         1,066        81,118

(1) includes salary plus any taxable benefits.
(2) includes GVRD business-related expenses for training, travel, mileage, membership


                                                                FIN-47
                                                                                                                  Schedule 2
                                                                                                                Page 10 of 10

     SCHEDULE OF REMUNERATION AND EXPENSES
     For the year ended December 31, 2007
     Employees

     Name                                    Remuneration (1)                     Expenses (2)          Total

     Warren,Jason                                       79,564                              2,957           82,521
     Wdowiak,Iwona                                      96,657                              1,164           97,822
     Webster,Andrew                                     75,091                              2,924           78,015
     Wellman,Mark                                       86,389                              1,262           87,651
     Wells,Allen                                        75,936                              4,752           80,688
     Werger,Daniel                                      75,369                                  -           75,369
     Williams,Brian                                     97,371                                614           97,985
     Wilting,Paul                                      109,013                              2,469          111,482
     Wishart,Peter                                     100,592                              7,794          108,386
     Wong,Ben                                           89,283                              1,851           91,135
     Wong,Jeanie                                        83,012                              2,254           85,266
     Wong,Michael                                       84,868                              1,507           86,375
     Wong,Thomas                                        97,588                                887           98,475
     Wood,Ronald                                        94,053                                168           94,220
     Woods,Stanley                                     108,868                              3,172          112,040
     Wornell,Heather                                    76,936                              3,413           80,349
     Wu,Thomas                                          95,832                              3,934           99,765
     Yang,Wilbert                                       97,471                              3,990          101,461
     Yee,Larry                                         108,860                              1,847          110,707
     Yee,Vernon                                         74,650                              1,654           76,304
     Yeomans,M                                          81,554                              2,834           84,387
     Young,Gordon                                       96,125                                895           97,020
     Yuen,Francis                                       95,965                              1,009           96,974
     Zimmer,Rob                                         83,834                              8,151           91,985
                                             $      41,537,570             $            1,295,945   $   42,833,516


     Consolidated Total of
     other employees with
     remunerations and
     expenses of $75000 or
     less                                            47,427,864                         1,044,649        48,472,513

                              Total          $      88,965,434            $         2,343,339       $   91,306,029




(1) includes salary plus any taxable benefits.
(2) includes GVRD business-related expenses for training, travel, mileage, membership


                                                                FIN-48
                                                                                           Schedule 3
                                                                                           Page 1 of 1

SCHEDULE OF REMUNERATION AND EXPENSES

For the year ended December 31, 2007

Reconciliation of Remuneration to Financial Statements




Total Remuneration - Schedule of Remuneration and Expenses:

    Employees (Schedule 2)                                                       $ 88,965,434

    Members of the Board of Directors and Elected Officials (Schedule 1)                647,873

                                                                                 $ 89,613,307




Total Salaries and Benefits per Financial Statements
    (Consolidated Financial Activities by Object)                                $ 103,625,178

    Items included in Financial Statements but not in Schedules 1 and 2:
      Employer share of non-taxable payroll remittances                             (11,735,686)
      2007 salaries and benefits accruals                                           (15,660,837)

    Item included in Schedules 1 and 2 but not in the Financial Statements:
      2006 salaries and benefits accruals                                            13,384,652

                                                                                 $ 89,613,307




*** For financial statement purposes, accrued employee wages and benefits are
    included in the financial statements, but are not reflected in remuneration paid to employees.




                                               FIN-49
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              FIN-50
                                                                        Schedule 4
                                                                        Page 1 of 1

SCHEDULE OF REMUNERATION AND EXPENSES

For the year ended December 31, 2007

Statement of Severance Agreements




There were 5 severance agreements under which payments were commenced
between the Greater Vancouver Regional District and its non-unionized
employees during fiscal year 2007.

These agreements represent between 1.6 to 7.9 months of compensation.




                                   FIN-51
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              FIN-52
                                                                Schedule 5
SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES       Page 1 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name                                              Payment Amount

4REFUEL CANADA LTD.                                                83,503
521474 BC LTD.                                                    171,205
563886 BC LTD., INC. NO. 563886                                    63,146
A & A ANDERSON TANK SERVICE LTD                                    58,692
A.B.E. LOGGING LTD                                                374,006
A.R. HYTECH ENGINEERING LTD.                                      467,110
A.R.THOMSON GROUP                                                 158,522
AAA AUTO COLLISION INC                                             35,362
ABB INC.                                                        1,078,380
ABBOTSFORD, CITY OF                                                92,965
ABM JANITORIAL SERVICES CO. LTD.                                  262,380
ACCURATE GLASS LTD.                                                48,389
ACE TECH AUTO REPAIRS                                              45,222
ACKLANDS - GRAINGER INC                                           521,649
ACME LANDFILL & PEAT LTD                                           30,252
ACTION GLASS LTD.                                                  55,763
ACTIVE SECURITY PATROL LTD.                                        94,437
ACUREN GROUP INC.                                                 673,892
ADVANCED DRIVE SYSTEMS INC.                                        81,066
ADVANCED SYSTEMS INTEGRATORS LIMITED                               70,859
ADVANTAGE THERMAL SERVICE LTD                                      29,611
AEGIS SECURITY LTD                                                 39,415
AIR LIQUIDE CANADA INC                                             47,364
ALCATEL CANADA INC.                                               105,498
ALEXANDER CONSTRUCTION LTD.                                       669,304
ALFA LAVAL INC                                                    111,957
ALL ROUND HOME IMPROVEMENTS AND RESTORATIONS LTD.                 107,883
ALLAN, J. D.                                                      215,482
ALLARD CONTRACTORS LTD.                                            25,662
ALLEGIS GROUP CANADA                                              148,141
ALLSTAR HOLDINGS INC                                               25,164
ALMA PLUMBING & HEATING LTD.                                      773,827
ALOUETTE PAVING LTD.                                               49,714
ALS ENVIRONMENTAL                                                  40,272
ALTEK INDUSTRIAL SUPPLY LTD                                        32,101
ALWAYS "ON" UPS SYSTEMS INC.                                      173,399
AMEC AMERICAS LTD.                                                524,572
AMERICANN PROCESS GROUP(CANADA) INC.                               84,451
AMRE SUPPLY COMPANY LIMITED                                       116,942
ANACHEMIA SCIENCE                                                  35,971
ANDREW SHERET LTD                                                  36,005
ANGUS & ASSOCIATES                                                185,605
ANGUS ONE LTD.                                                     40,378
ANIXTER CANADA INC.                                                41,548
ANSAN INDUSTRIES LIMITED                                           73,252
ANTHRATECH WESTERN INC.                                         1,552,468
AON REED STENHOUSE INC.                                         3,164,176
APT INDUSTRIES LTD                                                 45,910
ARBUTUS ROOFING & DRAINS LTD.                                      44,982

                                        FIN-53
                                                                Schedule 5
SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES       Page 2 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name                                              Payment Amount

ARMTEC LIMITED                                                     33,463
ARROW EQUIPMENT LTD                                                29,055
ARROW TRANSPORTATION SYSTEMS INC.                               1,898,142
ARTCRAFT DISPLAY GRAPHICS INC.                                     94,991
ARTECH ELECTRIC LTD                                                62,314
ARTHON CONSTRUCTION LTD.                                           87,259
ASPLUNDH CANADA INC                                                49,786
ASSOCIATED ENGINEERING (B.C.) LIMITED                             566,425
ASSOCIATED LOCKSMITHS                                              41,255
ATCO STRUCTURES INC.                                               88,567
ATLAS COPCO COMPRESSORS CANADA                                    112,200
ATLAS LEASING LTD                                                  27,809
AURORA PAINTING LTD                                               618,374
AVENSYS INC                                                       167,888
AVENUE MACHINERY CORP.                                            154,517
AWESOME OPOSSUM WILDLIFE CONTROL                                   35,650
AWWA RESEARCH FOUNDATION                                           30,131
AYLA CANOES RENTAL & SALES                                         44,204
A-Z LOCKMASTERS LTD                                                43,991
B G CONTROLS LTD.                                                 248,661
B&B CONTRACTING LTD                                                49,389
B. CUSANO CONTRACTING INC.                                        204,858
B.A. BLACKTOP LTD                                                 288,637
B.A. BLACKWELL & ASSOCIATES                                       181,076
B.C. BOILER SERVICES LTD.                                          47,647
B.C. RECORDS MANAGEMENT SERVICES LTD.                              57,819
B.C. RENTALS                                                       77,055
BANK OF MONTREAL                                                  525,687
BARNES WHEATON GM COQUITLAM                                       101,859
BARRY-HAMEL EQUIPMENT LTD.,                                        69,088
BAY OF ISLANDS HOLDINGS LTD.                                       37,100
BC BEARING ENGINEERS LIMITED                                      179,981
BC COMMUNICATIONS INC.                                             47,083
BC CONSERVATION FOUNDATION                                         50,433
BC DOCK AND DECK                                                   93,649
BC HOUSING                                                     12,179,750
BC HYDRO AND POWER AUTHORITY                                    8,602,038
BC LIVESTOCK PRODUCERS CO-OP                                       46,470
BC SPACES FOR NATURE                                               65,850
BEAVER ELECTRICAL MACHINERY LTD.                                  247,234
BELL CANADA                                                       195,533
BELL WEST INC.                                                     85,672
BENNETT LAND SURVEYING LTD.                                        28,316
BERVIN CONSTRUCTION LTD                                           578,188
BIG STEEL BOX                                                      52,489
BILFINGER BERGER/FRU-CON JOINT VENTURE BB/FC JV                20,305,133
BIO-AG TECHNOLOGIES INC.                                          482,995
BIOREM TECHNOLOGIES INC                                            36,601
BLACK & MCDONALD LTD                                              244,768

                                        FIN-54
                                                                Schedule 5
SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES       Page 3 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name                                              Payment Amount

BLACK PRESS GROUP LTD                                              60,776
BLUE STEEL LTD.                                                    65,004
BOBCAT COUNTRY SALES INC.                                          34,607
BOC CANADA LTD.                                                   394,505
BOC EDWARDS HIBON                                                  63,106
BODYCOTE TESTING GROUP                                             29,206
BOLLMAN ROOFING & SHEET METAL LTD                                 367,605
BONDERUD, KENNETH                                                 113,049
BREMNER, JOHN E.                                                   27,000
BRENNTAG CANADA INC.                                            1,641,838
BROADWAY ROOFING CO. LTD.                                         140,603
BRUNETTE INDUSTRIES LTD                                           152,218
BRYMARK INSTALLATIONS GROUP INC.                                  307,603
BULL HOUSSER & TUPPER                                             165,032
BULL, HOUSSER AND TUPPER "IN TRUST"                               500,000
BUNZL DISTRIBUTION                                                 29,091
BURNABY, CITY OF                                                  679,947
BURNTSAND                                                          48,764
BUSBY PERKINS & WILL ARCHITECTS CO                                 63,480
BUTLER SURVEY EQUIPMENT LTD.                                       64,357
C.D. NOVA LTD.                                                    101,214
C.G. INDUSTRIAL SPECIALTIES LTD                                   230,638
CACHE CREEK, VILLAGE OF                                           960,614
CAMBIE ROOFING CONTRACTORS LTD                                     26,158
CANADA CUSTOMS AND REVENUE AGENCY                              25,694,485
CANADA MORTGAGE & HOUSING CORPORATION                             109,536
CANADIAN DEWATERING LTD.                                          500,321
CANADIAN NATIONAL RAILWAYS                                         82,233
CANADIAN PACIFIC RAILWAY                                           37,154
CANADIAN TIRES                                                     42,702
CAN-DIVE CONSTRUCTION LTD.                                         67,374
CANEM WEST OPERATIONS INC                                         163,908
CANSTAR CONSTRUCTION LTD                                           59,639
CANTEST LTD.                                                       78,230
CARDINAL TRANSPORTATION BC INC.                                    26,281
CARLETON RESCUE EQUIPMENT                                          32,402
CARMICHAEL WILSON PROPERTY CONSULTANTS                             58,179
CARTER GM                                                          28,416
CATHERINE BERRIS ASSOCIATES INC.                                   28,893
CB ENGINEERING LTD                                                 26,242
CERTAPRO PAINTERS                                                  36,718
CH2M HILL CANADA LIMITED                                        1,212,411
CHAMPION WINDOW & PRESSURE CLEANING SERVICES                       63,812
CHEVRON CANADA LIMITED                                             79,129
CIBA SPECIALTY CHEMICALS CANADA                                   501,672
CINTAS CANADA LTD                                                  53,696
CIVIL CONSTRUCTION CO LTD                                       2,648,087
CLANCY ENVIRONMENTAL CONSULTANTS, INC.                            101,098
CLEARTECH INDUSTRIES INC.                                         733,491

                                        FIN-55
                                                                    Schedule 5
SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES           Page 4 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name                                                  Payment Amount

CLIMATE CHANGE CENTRAL                                                 38,381
COASTAL FORD SALES LTD                                                 77,260
COLLINGWOOD & ASSOCIATES                                               29,737
COLUMBIA BITULITHIC LTD.                                              222,371
COLUMBIA RESTORATION CO. LTD                                          284,091
COMBINED PAINTING (1985) LTD                                           36,016
COMMANDER WAREHOUSE EQUIPMENT LTD.                                     67,413
CONCENTRIX SOLUTIONS INC.                                              31,558
CONCEPT BUSINESS FURNISHINGS LTD                                       53,646
CONCORD EXCAVATING & CONTRACTING LTD.                                 400,268
CONETEC INVESTIGATIONS LTD.                                           511,544
CONTEXT RESEARCH LTD                                                  149,252
CONTROL SOLUTIONS LTD                                                 429,193
CONVERTEAM CANADA INC                                                  53,162
COQUITLAM SAND & GRAVEL LTD                                            29,418
COQUITLAM, CITY OF                                                    589,328
CORAL ENGINEERING LTD                                                  38,031
CORIOLIS CONSULTING CORP.                                              38,607
CORISTINE WOODALL                                                      95,057
CORIX WATER PRODUCTS INC.                                              42,240
CORIX WATER SYSTEMS INC                                                66,409
CORNERSTONE PLANNING GROUP                                            149,693
CORPORATE COURIERS LTD                                                186,681
COUTTS PULVER LLP (IN TRUST)                                           62,500
CRAIG INDUSTRIAL & MUNICIPAL SOLUTIONS LTD.                            29,193
CREATIVE DOOR SERVICES LTD.                                            99,614
CROSSIN CORISTINE WOODALL                                              41,020
CROWN ROOFING & DRAINAGE LIMITED.                                      28,306
CTH SYSTEMS INC.                                                      117,067
CULEX ENVIRONMENTAL LTD                                               199,523
CUMMINS WESTERN CANADA                                              1,186,608
CUSTOM GASKETS LTD.                                                    42,390
D.C. TRAFFIC CONTROL A DIVISION OF INTERPROJECT SYSTEMS INC.           43,554
DALE, KATHI                                                            48,000
DARNEY, ROBERT & NICOL, JANET                                          28,473
DAYTON & KNIGHT LTD.                                                  354,321
DECENT PAINTING & DECORATING LTD                                       66,398
DEKOR GLASS (1996) LTD                                                 34,987
DELL COMPUTER CORPORATION                                             850,343
DELOITTE & TOUCHE LLP                                                  38,463
DELTA AGGREGATES LTD.                                                 544,116
DELTA AIRPARK OPERATING COMMITTEE                                      53,220
DELTA, CORPORATION OF                                               3,311,907
DENBOW TRANSPORT LTD                                                   66,399
DESIGN GROUP STAFFING SERVICES INC., THE                               49,368
DESIGN ROOFING & SHEET METAL CO. LTD.                                  37,971
DIAMOND HEAD CONSULTING LTD                                            63,553
DILLON CONSULTING LTD                                                 406,418
DINWOODIE, AARON                                                       27,419

                                        FIN-56
                                                                   Schedule 5
SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES          Page 5 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name                                                 Payment Amount

DIONEX CANADA LTD                                                     80,662
DIRECT ENERGY BUSINESS SERVICES INC                                  299,841
DIRECT EQUIPMENT WEST LTD.                                            99,311
DIRECTIONAL MINING & DRILLING LTD.                                 3,103,791
DMD & ASSOCIATES LTD                                                  31,104
DOBNEY FOUNDRY LTD.                                                  122,317
DOMINION BLUE REPROGRAPHICS                                           34,518
DOMINION PIPE & PILING                                                43,159
DON'S FLYER SERVICE                                                   28,670
DORMEL CONTAINERS                                                     36,092
DORR-OLIVER EIMCO                                                    101,158
DRAKE'S UNIVERSAL SALES & SERVICE LTD.                                39,692
DTM SYSTEMS CORP.                                                    108,692
DUCKWORTH MANAGEMENT GROUP                                           106,908
DUECK CHEVROLET, OLDSMOBILE,CADILLAC LTD                             377,485
DYNAMIC FACILITY SERVICES LTD.                                        58,013
EAGLE WEST TRUCK & CRANE INC                                         233,082
EARTH TECH (CANADA) INC.                                              41,702
EATON YALE LTD.                                                       30,042
EBA ENGINEERING CONSULTANTS LTD                                      172,064
EBERLE PLANNING & RESEARCH                                            45,172
EBSCO CANADA LTD                                                      45,327
ECL ENVIROWEST CONSULTANTS LIMITED                                    47,845
E-COMM                                                             4,528,425
ECOSTAT RESEARCH LTD                                                  54,791
EDENVALE,DIVISION OF EW DISASTER KLEENUP                              25,960
EECOL ELECTRIC (SASK) INC.                                           152,414
EIC SOLUTIONS LTD.                                                   234,058
EMA CANADA, INC                                                    1,477,245
EMCO CORPORATION                                                      27,270
EMCOR FACILITIES SERVICES INC                                         31,368
EMERSON PROCESS MANAGEMENT POWER AND WATER SOLUTIONS                 639,995
EMS PLUS SAFETY SERVICES                                              32,609
ENKON ENVIRONMENTAL LTD                                              311,461
ERNST & YOUNG LLP                                                    134,816
ESRI CANADA LIMITED                                                   63,467
ESSE ENVIRONMENTAL EDUCATION AND COMMUNITY DEVELOPMENT LTD.          113,073
EUREKA CONTRACTING LTD                                               171,476
EUREST DINING SERVICES                                               144,039
EVERT HOEK CONSULTING ENGINEER INC.                                   31,482
EVERYDAY ALLSTAR CLEANING SERVICES LTD.                               42,753
EXACT METALS LTD.                                                     58,786
EXCEL DRAPERY INSTALLATIONS LTD.                                      92,295
F & M INSTALLATIONS LTD                                              152,329
FAB-KOTE INDUSTRIES LTD                                               26,174
FAIRBANKS MORSE PUMP CORP.                                           171,968
FARRIS,VAUGHAN,WILLS & MURPHY                                        160,645
FASTENAL COMPANY                                                     116,573
FIELD DRILLING CONTRACTORS LTD.                                       60,857

                                        FIN-57
                                                                 Schedule 5
SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES        Page 6 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name                                               Payment Amount

FINNING INTERNATIONAL INC.                                       1,329,057
FISHER SCIENTIFIC CO. LIMITED                                       59,986
FLEETWOOD DISPOSAL                                                  50,751
FLOTECH PUMP                                                        27,552
FLOWSERVE PUMP DIVISION                                             53,470
FLYNN CANADA LTD                                                   170,961
FOSTERS CONSTRUCTION LTD.                                          123,464
FOUNDEX EXPLORATIONS LTD.                                           78,944
FRASER RICHMOND SOIL & FIBRE LTD.                                1,896,744
FRASER RIVER PORT AUTHORITY                                         33,386
FRASER VALLEY EQUIPMENT LTD.                                        34,385
FRASER VALLEY REGIONAL DISTRICT                                     74,727
FRED HOLMES FUEL INJECTION DIVISION OF SIMPLE POWER CORP.           52,456
FRIESEN EQUIPMENT LTD.                                              32,723
G & R SINGH & SON TRUCKING LTD.                                     72,278
GARTNER INC                                                         42,764
GARTNER LEE                                                        122,446
GE-MULTILIN CANADA INC                                              32,978
GENERAL CHEMICAL PERFORMANCE PRODUCTS LTD                           43,891
GENERAL SWITCHGEAR & CONTROLS LTD                                  259,604
GENIVAR CONSULTANTS LIMITED PARTNERSHIP                            177,770
GEOWARE INC.                                                        66,395
GGEM CONSULTANTS LTD.                                               49,087
GLEN THOMPSON INDUSTRIES LTD                                       111,481
GLENTEL INC                                                        156,520
GLOBAL CADD SYSTEMS CORP.                                           32,001
GMAC COMMERCIAL FINANCE CORPORATION                                110,717
GOLDER ASSOCIATES INNOVATIVE APPLICATIONS (GAIA) INC.               45,940
GOLDER ASSOCIATES LTD                                            1,689,737
GOODBYE GRAFFITI VANCOUVER                                          27,238
GORDON CRANE & HOIST INC.                                           29,333
GORDON LATHAM LTD                                                   75,689
GRACOM MASONRY AJV                                                  55,003
GRAHAM CONSTRUCTION AND ENGINEERING INC                          4,340,496
GRAHAM INDUSTRIAL SERVICES LTD.                                  1,281,092
GREAT PEOPLE PERSONNEL LTD.                                         88,414
GREATER VANCOUVER HISTORICAL PERFORMANCE SOCIETY                    25,550
GREATER VANCOUVER TRANSPORTATION AUTHORITY                     294,714,920
GREENBRIDGE CONSTRUCTION                                           161,833
GREENTECH DESIGN LTD                                                69,865
GUILDFORD FREON RECOVERY                                            29,972
GUILDFORD REFRIGERATION & APPLIANCE SERVICE LTD                    148,249
GUILLEVIN INTERNATIONAL CO.                                        124,442
GVRDEU                                                             364,106
HABITAT SYSTEMS INCORPORATED                                        61,278
HANK'S TRUCKING AND BULLDOZING LTD                                  42,811
HANNA, DAWN                                                         30,131
HARRIS REBAR A DIV OF HARRIS STEEL LIMITED                         206,216
HASTINGS INSTITUTE                                                  42,755

                                        FIN-58
                                                                    Schedule 5
SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES           Page 7 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name                                                  Payment Amount

HATCH MOTT MACDONALD LTD.                                           3,135,562
HAYCO INDUSTRIES LTD                                                   29,539
HAYWARD GORDON LTD                                                     58,318
HAZCO ENVIRONMENTAL SERVICES LTD.                                      86,360
HEMMERA ENVIROCHEM INC.                                               104,639
HEXCEL CONSTRUCTION LTD                                                39,013
HIGHLANDS IRRIGATION LIMITED                                          170,516
HILLCREST CONSTRUCTION LTD                                             29,813
HILTI (CANADA) LIMITED                                                115,434
HITCHCO DISTRIBUTORS LTD                                               26,642
HODGSON KING AND MARBLE LTD                                           375,748
HOLACO CONSTRUCTION (1997) LTD                                         27,687
HOME DEPOT SUPPLY                                                     254,294
HONEYWELL LIMITED                                                     379,244
HORIZON FIBERGLASS PRODUCTS LTD.                                       39,236
HOSKIN SCIENTIFIC (WESTERN) LIMITED                                    29,911
HOULE ELECTRIC LIMITED                                                 47,666
HUMPHREY METAL BUILDINGS INC.                                          54,393
HYATT INDUSTRIES LIMITED                                               26,136
HYDRO-LOGIC ENVIROMENTAL                                               68,038
IBM CANADA LIMITED                                                     26,167
IDEAL WELDERS LIMITED                                                 694,993
INDUSTRIAL NONDESTRUCTIVE TESTING LTD                                  77,546
INGLIS, GORDON                                                         51,792
INLAND KENWORTH                                                        39,953
INSURANCE CORPORATION OF BC                                           592,646
INTERCON SECURITY LIMITED                                             905,649
INTERCONTINENTAL TRUCK BODY                                            64,012
INTERLOCK EMPLOYEE & FAMILY ASSISTANCE CORPORATION OF CANADA           59,852
IOTA CONSTRUCTION LTD                                                 215,921
IRC INTEGRATED RESOURCES CONSULTING INC.                               67,261
IRL TRUCK CENTRE LTD.                                                  94,367
ITG INDUSTRIAL TRADES GROUP LTD.                                       77,547
ITT ADVANCED WATER TREATMENT SANITAIRE                                 78,159
ITT FLYGT                                                             187,600
ITT INDUSTRIES OF CANADA                                              306,973
ITT INDUSTRIES WEDECO, INC.                                         1,243,081
J J REFRIGERATION LTD                                                  39,388
J. DEWITT ENTERPRISES LTD.                                            204,605
J. KERSCHBAUMER INC.                                                   68,830
J.A. ELECTRIC                                                         506,225
J.C. ANDELLE INC                                                      176,265
J.S. FERGUSON CONSTRUCTION INC                                      1,114,961
JACK CEWE LTD.                                                         30,693
JACQUES WHITFORD                                                       53,282
JARROD PEARCE STUCCO CONTRACTING                                       42,427
JC AND SONS MANUFACTURING LTD                                          26,697
JELCON EQUIPMENT LTD                                                  191,377
JEWEL HOLDINGS LTD                                                    433,929

                                        FIN-59
                                                                      Schedule 5
SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES             Page 8 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name                                                    Payment Amount

JIFFY JOHN RENTALS LTD.                                                  51,537
JJM CONSTRUCTION LTD.                                                 1,530,657
JOHN CRANE CANADA INC.                                                   73,349
JOHN MEUNIER INC.                                                       325,427
JOHNSON CONTROLS LTD.                                                    33,218
JOHNSTONE BOILER & TANK LTD.                                             37,454
JPSH ENTERPRISE INC                                                     180,597
JRS ENGINEERING LTD                                                     201,385
KAL TIRE                                                                 31,694
KANAKA EDUCATIONAL & ENVIRONMENTAL PARTNERSHIP SOCIETY (KEEPS)           39,895
KANI FOUNDATION TECHNOLOGIES INC.                                        28,851
KEN MACKAY & SON CONCRETE FORMING LTD                                   125,741
KENDRICK EQUIPMENT LTD                                                   34,173
KERR WOOD LEIDAL ASSOCIATES                                             280,739
KINECOR INC.                                                             39,208
KING KUBOTA SERVICES LTD.                                                33,349
KINGSTON CONSTRUCTION LTD.,                                           3,351,727
KLOHN CRIPPEN BERGER LTD                                                258,784
KLOHN-CRIPPEN                                                           407,892
KMS TOOLS AND EQUIPMENT LTD.                                             38,096
KNIGHT PIESOLD CONSULTING                                               217,308
KOMATSU RENTS                                                            45,447
KPMG LLP                                                                 26,697
L.E. STEEL FABRICATORS LTD                                               78,941
LA CHANCE, CHARLES                                                       41,202
LAFARGE CANADA INC.                                                     187,158
LANDS WEST PROPERTY SERVICES INC                                         28,988
LANDTEC GROUND EXPERT LTD.                                               78,694
LANGLEY, CITY OF                                                         29,654
LANGLEY, TOWNSHIP OF                                                 15,075,766
LARRY MCFARLAND ARCHITECTS LTD                                           27,422
LAURA GALLOWAY DESIGN                                                    85,398
LAWSON PRODUCTS, INC. (ONTARIO)                                          62,959
LAYFIELD POLY FILMS LTD                                                  30,463
LEA CARPENTER                                                            50,189
LEHIGH NORTHWEST MATERIALS LTD.                                          76,756
LEVELTON CONSULTANTS LTD.                                                63,016
LITZ CRANE SERVICE LTD.                                                 238,239
LIVINGSTON INTERNATIONAL INC.                                           160,973
LOCKMASTERS LTD                                                          63,910
LORDCO PARTS LTD.                                                        43,243
LRF CONSULTANTS LTD.                                                     89,509
LUCID PROJECT MANAGEMENT INC.                                            35,967
LUXOR LAWN & GARDENS LTD                                                 66,012
LYNX SYSTEMS INC                                                        388,618
M R SMITH LIMITED                                                        36,133
MAIL-O-MATIC SERVICES LTD.                                               28,360
MAINLAND SAND & GRAVEL LTD.                                             246,325
MANUFACTURERS LIFE INSURANCE COMPANY                                    618,137

                                        FIN-60
                                                                Schedule 5
SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES       Page 9 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name                                              Payment Amount

MAPLE RIDGE TANK CLEANING SERVICE LTD.                             48,889
MAPLE RIDGE, CORP. OF THE DISTRICT                              1,066,782
MARINE ROOFING & SHEET METAL LTD.                                 171,895
MARK'S WORK WEARHOUSE                                              35,448
MASONLIFT LTD                                                      40,408
MAXXAM ANALYTICS INC                                               73,725
MCCRORY WILDLIFE SERVICES LTD                                      31,280
MCLAUGHLIN, GORDON ANDREW                                          52,518
MCRAE'S ENVIRONMENTAL SERVICES LTD.                               729,984
MCRAE'S SEPTIC TANK SERVICE (FV) LTD.                              53,962
MCS MEASUREMENT CONTROL SERVICES LTD                               34,158
MDE ELECTRICAL MECHANICAL CONTRACTORS LT                          159,415
MEQUIPCO SALES LTD.                                               164,413
MERAN INDUSTRIES LTD.                                              45,383
MERCER HUMAN RESOURCE CONSULTING LIMITED                           95,400
MERIDIAN SPECIALTIES INC.                                          42,991
MERLETTI CONSTRUCTION LTD                                         192,926
METRICA SERVICES INC.                                              42,546
METRO MOTORS LTD                                                  320,013
METRO TESTING LABORATORIES LTD                                     55,888
MGE UPS SYSTEMS INC.                                               30,891
MHPM PROJECT MANAGERS INC                                          54,311
MICA CONSULTING PARTNERS                                           71,277
MIDLYN HR COMMUNICATIONS                                          433,723
MIERAU CONSTRUCTION LTD                                           292,041
MILESTONE PROPERTY SERVICES LTD                                    43,354
MILLS BASICS OFFICE SUPPLIES AND PRINTING                         434,563
MINISTER OF FINANCE & CORP RELATIONS                            4,067,734
MITCHELL INSTALLATIONS LTD.                                       515,950
MITEL NETWORKS CORP                                               191,052
MODU-LOC FENCE RENTALS LTD                                         27,056
MONTENAY INC.                                                   8,990,255
MOUNTAIN MANUFACTURING 2002 LTD                                    74,749
MTS ENGINEERING INC.                                               27,491
MUELLER FLOW CONTROL                                              402,080
MUNICIPAL FINANCE AUTHORITY OF BC                             274,285,443
MUNICIPAL PENSION PLAN                                         11,786,262
MUTUAL CONSTRUCTION (2000) LTD                                    253,397
N.W. ENGINEERING LTD.                                              77,151
NAC CONSTRUCTORS LTD                                           49,260,228
NALCO CANADA CO.                                                   33,236
NATHEN PRINTING SERVICES LTD.                                      48,985
NATIONAL AIR TECHNOLOGIES                                          25,815
NATIONAL PROCESS EQUIPMENT                                         77,952
NAUTILUS ENVIRONMENTAL                                             38,451
NCE LIMITED                                                        37,227
ND LEA INC.                                                        29,767
NEDCO                                                              32,323
NEUTRAL ZONE COACHING AND CONSULTING INC, THE                      51,770

                                        FIN-61
                                                               Schedule 5
SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES     Page 10 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name                                              Payment Amount

NEW LIFE PAINTING & DECORATING LTD                                 70,167
NEW WESTMINSTER, CORP. OF THE CITY                              1,817,245
NEWALTA CORPORATION                                                45,207
NEWCONCEPT INDUSTRIES LTD.                                         31,461
NEW-LINE PRODUCTS LTD.                                             83,249
NORAMCO WIRE & CABLE CO.LTD.                                       28,766
NORPAC CONTROLS LTD.                                            1,322,776
NORTH AMERICIAN PIPE AND STEEL LTD.                             1,445,260
NORTH VANCOUVER, CITY OF                                          139,881
NORTH VANCOUVER,THE DISTRICT OF                                15,190,549
NORTHERN BUILDING SUPPLY LTD.                                      69,302
NORTHWEST PIPE COMPANY                                         12,752,592
O.E.M. BATTERY SYSTEMS LTS                                         41,714
O2 ENVIRONMENTAL                                                   26,038
OAKRIDGE GENERAL CONTRACTORS                                      438,769
OCE CANADA INC.                                                    28,976
OCEAN CONSTRUCTION SUPPLIES LIMITED                                75,876
ODRA CERAMIC TILE                                                  51,346
ON THE SPOT SERVICES INC.                                         383,015
OTIS CANADA INC                                                    36,658
P SLANEY AQUATIC SCIENCE LTD                                       29,945
PACE CHEMICALS LTD.                                                35,419
PACIFIC BLASTING & DEMOLITION LTD.                                434,426
PACIFIC BLUE CROSS                                              2,147,995
PACIFIC COASTCOM COMMUNICATIONS INC                                67,723
PACIFIC INDUSTRIAL SCALE CO LTD                                    57,604
PACIFIC LANDSCAPING                                               186,724
PACIFIC LIAICON AND ASSOCIATES INC                              2,299,604
PACIFIC NEWSPAPER GROUP INC.                                       66,566
PACIFIC RIM INDUSTRIAL INSULATION LIMITE                           43,826
PACIFIC WHOLESALE APPLIANCES LTD.                                 157,210
PACIFIC-SURREY CONSTRUCTION LTD.                                   57,243
PANARAMA TECHNOLOGIES LTD.                                         60,686
PARKWOOD CONSTRUCTION LTD                                         905,860
PARTNER TECHNOLOGIES INC.                                          26,609
PAUL FORD AG SERVICES                                             338,071
PEDRE CONTRACTORS LTD.                                         11,098,229
PERSONA CONSTRUCTION LTD.                                         293,446
PERSONNEL DEPARTMENT, THE                                          55,664
PETER KIEWIT SONS CO.                                           7,421,170
PETRO CANADA                                                      173,709
PHH VEHICLE MANAGEMENT SVCS                                     1,245,152
PHILMARK CAPITAL CORPORATION                                       28,003
PHOENIX MARINE SERVICES INC                                        93,015
PHOENIX TRUCK & CRANE                                             172,065
PHSA LABORATORIES SERVICES                                        115,729
PINTON FORREST & MADDEN GROUP INC                                  64,835
PITNEY BOWES                                                       86,148
PITT RIVER QUARRIES DIVISION OF WARREN MATERIALS INC.              30,902

                                        FIN-62
                                                               Schedule 5
SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES     Page 11 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name                                              Payment Amount

PLAN GROUP                                                         41,792
POLAR BATTERY VANCOUVER LTD                                        48,658
POLLUX CANADA                                                      78,623
PORT COQUITLAM, THE CITY OF                                       265,406
PORT MOODY, CITY OF                                               184,958
POWER MEASUREMENT LTD.                                             40,894
POWER VAC                                                          25,889
POWERTECH LABS INC.                                               114,026
PRAXAIR DISTRIBUTION                                               26,608
PRECISION INJECTION MOLDING INC                                    25,275
PROGRESSIVE MACHINE INDUSTRIES, INC.                               47,205
PROGRESSIVE MOWERS                                                 96,322
PRO-LINE FENCE LTD                                                 27,823
PROMAG ENVIRO SYSTEMS LTD                                          36,438
PROSTAR PAINTING & RESTORATION LTD                                 81,090
PROTECH WELDING LTD                                               151,933
PROTOOL INDUSTRIAL SALES AND SERVICE                               28,919
PURITY FEED CO (2003) LTD                                          73,924
QUADRA CHEMICALS LTD.                                             114,815
QUALICHEM INDUSTRIAL PRODUCTS LTD                                  53,231
QUANTUM MURRAY FACILITIES LP                                       42,430
R & M LEASING LTD.                                                 50,119
R.A. OAKLEY LTD.                                                  228,105
R.D.M. ENTERPRISES LTD                                             63,368
R.F. BINNIE & ASSOCIATES LTD.                                     319,882
RAIDER-HANSEN INC                                                  29,883
RAINCOAST VENTURES LTD                                             37,565
RAMCO'S CARPET WAREHOUSE LTD.                                     776,924
RANDSTAD                                                           39,304
RANKIN SKYLINE SERVICES LTD.                                       61,162
RARE EARTH RECREATIONAL DEVELOPMENTS INC                           52,948
RAYBERN ERECTORS LTD.                                              65,629
RAYDON RENTALS LTD                                                 54,942
RDH BUILDING ENGINEERING LTD.                                      89,794
RECEIVER GENERAL OF CANADA                                        123,750
RECYCLING COUNCIL OF BC                                            47,460
RELIANCE FOUNDRY COMPANY LTD.                                      42,508
REMDAL PAINTING & RESTORATION INC                                 146,567
RESMOR TRUST COMPANY                                              102,694
REVENUE SERVICES OF BRITISH COLUMBIA                            1,072,877
REVERE, INC.                                                       74,688
RICHARDSON, SANDRA MAY                                             70,600
RICHMOND ELEVATOR MAINTENANCE LTD.                                 38,947
RICHMOND, CITY OF                                              15,194,625
RIGHT AWAY TRAFFIC CONTROL SERVICES                                26,215
RISKWERX                                                           28,231
RIVERMIST HOLDING LTD                                              26,148
RMC READY MIX LTD                                                  35,088
ROBERDS EXCAVATING (1991) LTD.                                    240,387

                                        FIN-63
                                                               Schedule 5
SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES     Page 12 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name                                              Payment Amount

ROBERTSON KOLBEINS TEEVAN GALLAHER                                 40,001
ROBINS FLOTECH LTD                                                115,737
ROCO RESCUE OF CANADA INC.                                         57,356
ROLLINS MACHINERY LIMITED                                         207,406
RONA HOME CENTRES                                                 101,780
ROPER GREYELL LLP                                                 190,855
ROSS MORRISON ELECTRICAL LTD.                                     291,026
ROSS SUPPLY LTD.                                                  101,592
ROYAL BANK OF CANADA                                               81,645
RWDI AIR INC                                                       89,652
S.A. TEMPORARY SERVICES INC                                       336,377
S.S.G. HOLDINGS LTD                                             1,201,634
SAFWAY SCAFFOLD SERVICES INC                                       71,764
SALMON'S RENTALS LTD.                                              50,104
SANDPIPER CONTRACTING LTD                                          52,122
SANDWELL ENGINEERING INC.                                       1,800,232
SAWTEK CONTRACTING LTD.                                            48,606
SCREENING SERVICES INTERNATIONAL, INC.                            172,766
SCREENING SYSTEMS INTERNATIONAL INC                               416,622
SCS ENGINEERS                                                     121,372
SEAWARD ENGINEERING & RESEARCH LTD                                 49,884
SERVICEMASTER CLEAN                                                31,541
SHARP & DIAMOND LANDSCAPE ARCHITECTS                              152,425
SHARP'S AUDIO-VISUAL LTD.                                          46,316
SHAW CABLE                                                         37,181
SHAW CABLESYSTEMS COMPANY                                          43,023
SHELTAIR GROUP RESOURCE CONSULTANTS INC.                          134,474
SHELTER INDUSTRIES INC.                                            90,789
SHERINE INDUSTRIES LTD                                             51,089
SHERLOCK CATHERINE                                                 43,297
SI SYSTEMS                                                        459,351
SIDHU, S. TRUCKING                                                 96,993
SIELSKY, TERRANCE & ESTHER                                         27,650
SIEMENS BUILDING TECHNOLOGIES-FIRESAFETY                           33,762
SIMARK CONTROLS LTD                                                48,641
SIMON FRASER UNIVERSITY                                            71,108
SIMPOWER LTD.                                                      36,978
SINGH FARMS INC.                                                   92,500
SINGLETON URQUHART LEGAL COUNSEL                                   28,187
SKYDT, PAUL                                                        33,183
SMART TURNER PUMPS                                                 72,145
SMILEY, LORNE IN TRUST                                            213,879
SMITH CAMERON PUMP SOLUTIONS                                       33,639
SNAP ON TOOLS                                                      30,311
SNF CANADA LTD.                                                   130,709
SOFTCHOICE CORPORATION                                             48,590
SOURCE TEST LIMITED                                                40,375
SOUTHERN CROSS HOLDINGS LTD.                                      121,443
SOUTHWELL CONTROLS LTD.                                            60,792

                                        FIN-64
                                                               Schedule 5
SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES     Page 13 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name                                              Payment Amount

SPAANS BABCOCK INC.                                               116,984
SPECIALTY EQUIPMENT LTD.                                           25,576
SPX PROCESS EQUIPMENT - LIGHTNIN                                   95,782
SQUAMISH NATION                                                   365,738
SSBV CONSULTANTS INC                                            6,091,577
STANTEC CONSULTING LTD.                                           375,424
STAPLES BUSINESS DEPOT                                             30,975
STAPLES MCDANNOLD STEWART                                         154,724
STAPLES MCDANNOLD STEWART "IN TRUST"                            5,323,846
STASUK TESTING & INSPECTION LTD.                                  380,205
STATUS ELECTRICAL CORP                                             92,211
STEALTH VALVE                                                   1,531,173
STEELGUARD FENCING                                                 57,274
STEELHEAD INDUSTRIES LTD.                                          77,230
STEELS INDUSTRIAL PRODUCTS                                         51,720
STERLING CRANE                                                     46,844
SULLIVAN AMATEUR ATHLETIC & COMMUNITY ASSOCIATION INC.            114,000
SUN LIFE FINANCIAL CANADA                                         448,363
SUPER SAVE DISPOSAL INC.                                          493,567
SUPERIOR CITY SERVICES LTD.                                        89,802
SUPERIOR HANDYMAN SERVICES                                        465,267
SUPERIOR PROPANE LIMITED                                           95,166
SURFWOOD SUPPLY LTD.                                               91,085
SURREY CEDAR LTD                                                   80,009
SURREY FIRE & SAFETY LTD.                                          94,619
SURREY, CITY OF                                                 2,834,381
SWING TIME DISTRIBUTORS LTD                                        42,399
SYNCOR BUSINESS ENVIRONMENTS LTD.                                  27,969
TAB PRODUCTS OF CANADA LTD.                                        26,493
TALON HELICOPTERS LIMITED                                         161,999
TARGET LAND SURVEYING LTD.                                        171,384
TAYLOR DEVICES INC.                                               182,984
TD CANADA TRUST                                                   128,047
TEAMSTERS LOCAL UNION #31                                         386,755
TEBO MILL INSTALLATIONS LTD.                                       39,167
TECK COMINCO METALS LTD.                                          100,037
TELUS                                                              53,649
TELUS COMMUNICATIONS INC                                          656,040
TELUS ENTERPRISE SOLUTIONS PARTNERSHIP                             58,321
TELUS MOBILITY.                                                   417,606
TERASEN GAS INC.                                                  783,893
TERASEN WATERWORKS                                                 41,542
TERRASOL ENVIRONMENT INC.                                         126,838
THE GREAT WEST LIFE ASSURANCE COMPANY                           2,817,783
THIELMANN, DEREK & MELANIE                                         50,000
THOMCO SUPPLY LIMITED                                              82,854
THOS. W. MACKAY & SON LTD.                                        148,147
THYSSENKRUPP SAFWAY, INC.                                         184,234
TIMBERLINE TREE SERVICE LTD.                                       27,072

                                        FIN-65
                                                               Schedule 5
SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES     Page 14 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name                                              Payment Amount

TIRELAND                                                           44,854
TLD COMPUTERS INC                                                 132,560
TNL CONSTRUCTION SERVICES LTD.                                  5,909,439
TOMORROWNOW, INC                                                  161,040
TOSHIBA OF CANADA LIMITED                                         249,558
TP SYSTEMS LTD.                                                   264,926
TRAFX RESEARCH LTD                                                 53,604
TRANSLINK                                                         236,568
TREE ISLAND INDUSTRIES DIV. OF GEORGETOWN WIRE                     80,255
TREEN GLOVES & SAFETY PRODUCTS LTD                                 37,200
TREVOR JARVIS CONTRACTING LTD.                                    830,372
TRIAGE EMERGENCY SERVICES & CARE SOCIETY                           29,701
TRI-ARROW INDUSTRIAL RECOVERY INC                                 848,982
TRISTAR INDUSTRIES LTD                                            453,940
TRITON TRANSPORT LTD                                              126,390
TROJAN TECHNOLOGIES INC.                                           41,364
TWIN ISLAND EXCAVATING                                            105,782
TYAM CONSTRUCTION LTD.                                            183,426
TYCO VALVES & CONTROLS CANADA CANTECH CONTROLS                  1,237,199
TY-CROP MANUFACTURING LTD                                         378,100
UAP INC (D.B.A. NAPA AUTO PARTS)                                  148,027
UNDERHILL GEOMATICS LTD                                            37,930
UNISOURCE CANADA INC.                                              35,758
UNITED AUTO SOUND INC                                              26,702
UNITED RENTALS OF CANADA                                          200,975
UNITED WAY OF THE LOWER MAINLAND                                   68,098
UNITREND PLASTICS MANUFACTURING LTD.                               33,080
UNIVAR CANADA LTD                                                  93,451
UNIVERSITY OF BRITISH COLUMBIA                                    132,971
VALLEY RITE-MIX LTD.                                               45,365
VALLEY TRAFFIC SYSTEMS INC.                                       438,063
VAN HOUTTE COFFEE SERVICES INC                                     27,396
VAN ZYL, SCHALK & KATHRYN                                          49,170
VANCAR LIGHT TRUCK SALES LTD.                                     346,000
VANCOUVER - WHISTLER PAINTING INC.                                 45,959
VANCOUVER COURIER, THE                                             40,014
VANCOUVER HOLDINGS (B.C.) LTD.                                     54,906
VANCOUVER PORT AUTHORITY                                          215,586
VANCOUVER, CITY OF                                              4,123,261
VANPORT ENTERPRISES LTD                                            97,046
VARIAN CANADA INC.                                                 52,066
VECTOR DRIVE SYSTEMS INC                                          426,586
VEOLIA ES CANADA INDUSTRIAL SERVICES INC.                         609,890
VIKING CHAIN INC                                                  184,296
VWR CANLAB                                                         94,686
VWR INTERNATIONAL LTD                                              33,998
VWR SCIENTIFIC PRODUCTS                                            41,547
WAINBEE LIMITED                                                    85,817
WARD & ASSOCIATES LTD.                                             72,400

                                        FIN-66
                                                                                      Schedule 5
SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES                            Page 15 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name                                                                     Payment Amount

WASTECH SERVICES LIMITED                                                              36,334,238
WATER MANAGEMENT CONSULTANTS                                                              48,511
WATEROUS POWER SYSTEMS                                                                    81,914
WATSON GLOVES                                                                             50,878
WATSON, LYDIA                                                                             38,940
WEIR CANADA INC.                                                                         163,876
WEIR-ENVIROTECH PUMP CANADA DIV OF PEACOCK INC                                            64,531
WESCAN SYSTEMS LIMITED                                                                    41,738
WESCO DISTRIBUTION CANADA INC                                                            169,326
WESCO INDUSTRIES LTD.                                                                    142,424
WEST COAST CORROSION PREVENTION LIMITED                                                   33,641
WEST COAST EQUIPMENT RENTALS LTD                                                          36,699
WEST COAST FALCONRY INC.                                                                  53,334
WEST COAST SAFETY CONSULTANTS                                                             45,050
WEST COAST VULCANIZING                                                                    80,745
WEST PACIFIC CONSULTING GROUP                                                            675,003
WEST VANCOUVER, CORP OF THE DISTRICT                                                     651,650
WESTBURNE ELECTRIC SUPPLY                                                                223,004
WESTCAN ENGINEERING AND MACHINERY                                                         56,957
WESTECH ENGINEERING INC.                                                                 213,116
WESTECH INDUSTRIAL LTD.                                                                   52,077
WESTERN COMPENSATION & BENEFITS CONSULTANTS                                               63,428
WESTERN FENCE & GATE LTD.                                                                 29,716
WESTERN OIL SERVICES LTD                                                                  41,269
WESTERN VERSATILE CONSTRUCTION CORP                                                       74,730
WESTLUND INDUSTRIAL SUPPLY LTD                                                            25,614
WESTPRO CONSTRUCTORS GROUP LTD.                                                        5,027,940
WESTWARD FLOORS LTD                                                                       30,825
WHITE PINE ENVIROMENTAL RESOURCES INC.                                                   114,857
WHITE ROCK, CITY OF                                                                       55,299
WHITELAW TWINING                                                                         177,902
WILCO LANDSCAPE CONTRACTORS LTD                                                        3,795,963
WILCOX COMMUNICATIONS INC.                                                               110,939
WILDFIRE FIRE EQUIPMENT INC                                                               54,417
WINVAN PAVING LTD.                                                                       120,018
WISMER & RAWLINGS ELECTRIC LTD                                                            36,774
WOLSELEY CANADA INC.                                                                   1,438,711
WOOD WYANT INC.                                                                           26,832
WORKERS' COMPENSATION BOARD OF B.C.                                                      774,747
XEROX OF CANADA LIMITED                                                                  130,208
XS WEST CONSTRUCTION GROUP                                                                28,075
YOHO PROJECTS LTD.                                                                       256,761
ZEEMAC VEHICLE LEASE LTD                                                                 349,900
ZEP MANUFACTURING COMPANY OF CANADA                                                       33,853
Payments to suppliers of goods and services who received aggregate payments
exceeding $25,000                                                             $     1,017,520,218




                                                FIN-67
                                                                                             Schedule 5
SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES                                   Page 16 of 16

For the year ended December 31 2007

Payments to Canadian Suppliers ($Cdn)

Supplier Name                                                                            Payment Amount

Consolidated total paid to suppliers who received aggregate payments of $25,000 or
less                                                                                         10,424,571
Total payments made to Canadian suppliers (excl Grants/Contributions)                $     1,027,944,789

Payments made in 2007 for Grants/Contributions

BIEAP-FREMP                                                                                      45,000
CITY OF SURREY FIRE DEPARTMENT                                                                   45,000
FRASER BASIN COUNCIL                                                                            310,000
LOWER MAINLAND TREATY ADVISORY COMMITTEE                                                        285,829
PACIFIC PARKLANDS FOUNDATION                                                                    175,000
SEYMOUR SALMONID SOCIETY                                                                         83,500
UNITED WAY OF THE LOWER MAINLAND                                                                104,514
VANCOUVER SYMPHONY SOCIETY                                                                       36,000

Payments for Grants/Contributions exceeding $25,000                                           1,084,843

100-MILE DIET SOCIETY                                                                             9,000
ARTS CLUB THEATRE COMPANY                                                                         9,000
AXIS THEATRE SOCIETY                                                                              2,000
BC AGRICULTURE IN THE CLASSROOM FOUNDATION                                                        2,250
BURNABY LAKE PARK ASSOCIATION                                                                    10,000
CAROUSEL THEATRE SOCIETY                                                                          3,000
FARM FOLK/CITY FOLK                                                                               9,000
GREEN THUMB PLAYERS SOCIETY                                                                       5,000
KANAKA EDUCATIONAL & ENVIRONMENTAL PARTNERSHIP SOCIETY (KEEPS)                                   15,000
PACIFIC CINEMATHEQUE PACIFIQUE SOCIETY                                                            4,500
PACIFIC SPIRIT PARK SOCIETY                                                                      20,000
PLAYHOUSE THEATRE COMPANY                                                                         8,000
PORT MOODY ARTS CENTRE SOCIETY                                                                    2,000
RICHMOND GATEWAY THEATRE SOCIETY                                                                  2,000
VANCOUVER ART GALLERY                                                                             5,000
VANCOUVER EAST CULTURAL CENTRE                                                                    5,000
VANCOUVER OPERA ASSOCIATION                                                                      18,500

Payments for Grants/Contributions of $25,000 or less                                 $          129,250

Total Payments made in 2007 for Grants/Contributions                                 $        1,214,093

Total Payments to Canadian Suppliers ($Cdn)                                          $     1,029,158,882




                                                  FIN-68
                                                                                Schedule 6
                                                                                Page 1 of 1



SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES

For the year ended December 31, 2007

Payments to U.S. Suppliers ($US)

Supplier Name                                                     Payment Amount

JOHN F MACDONALD, INC.                                            $         25,097
I. M. IDRISS                                                                25,508
H. P. TURBO INC.                                                            25,766
ESKILSSON, JEPPE N                                                          26,227
KRAFT INDUSTRIAL SUPPLIES LTD.                                              32,971
CAMP DRESSER & MCKEE INC                                                    37,211
SEA-BIRD ELECTRONICS, INC.                                                  38,417
W. L. GORE & ASSOCIATES INC.                                                45,000
WHEELABRATOR TECHNOLOGIES INC                                               50,905
SIEMENS WATER TECHNOLOGIES                                                  52,468
LANGUAGE LINE SERVICES                                                      54,561
OSI SOFTWARE CANADA ULC.                                                    83,109
SCHWING BIOSET INC.                                                        202,012
CHART INC.                                                                 390,380

Payments to US suppliers of goods and services who received
aggregate payments exceeding $25,000                                      1,089,632

Consolidated total of all payments to US suppliers who received
$25,000 or less                                                            296,574

Total Payments made to US Suppliers ($US)                         $       1,386,206

Total Payments made to US Suppliers converted to Canadian $       $       1,402,841




                                            FIN-69
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              FIN-70
                                                                                                             Schedule 7
                                                                                                             Page 1 of 1

SCHEDULE OF PAYMENTS TO SUPPLIERS FOR GOODS AND SERVICES

For the year ended December 31, 2007

Reconciliation of Payments for Goods and Services to Financial Statements                             2007


Total payments to Canadian Suppliers (Schedule 5)                                               $   1,028,873,053

Total payments to US Suppliers - in Canadian dollars (Schedule 6)                                       1,402,841

                                                                                                $   1,030,275,894


Total expenditures per Financial Statements (Exhibit B - Consolidated Statement                 $    539,693,501
            of Financial Activities)

     Items included in Financial Statements but not in Schedules 5 and 6:
            Salaries and benefits per Schedule 3                                                     (103,625,178)
            Employee's and director's expenses per Schedules 1 and 2                                   (2,388,926)
            2007 Accounts Payable and accrued liabilities                                            (115,651,025)
            Non-cash adjustments                                                                          271,800
     Items in Schedules 5 and 6 but not included in expenditures in the Financial Statements:
            2006 Accounts Payable and accrued liabilities                                             98,444,379
            Payroll and other remittances                                                             27,227,229
            Municipal GST rebate and ITCs                                                             18,037,635
            PST remittances relating to revenues collected                                               312,217
     Payments relating to debt financing and debt reserve funds:
            Payments to members                                                                       49,276,743
            Payments to GVTA                                                                         294,951,488
            Payments to Municipal Finance Authority                                                  274,285,443
            Payments for GVHC Mortgages                                                               15,382,103
            Interest on long-term debt                                                               (65,941,515)


                                                                                                $   1,030,275,894

     Difference                                                                                         -




                                                       FIN-71
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              FIN-72
                                                                                            5.4



                                              Finance Committee Meeting Date: June 12, 2008
                                                Water Committee Meeting Date: June 19, 2008
                                      Waste Management Committee Meeting Date: July 9, 2008


TO:            Finance Committee
               Water Committee
               Waste Management Committee

FROM:          Tim Jervis, Manager, Engineering & Construction
               Phil Trotzuk, Financial Planning and Operations Manager

DATE:          May 30, 2008

SUBJECT:       Status of Utilities Capital Expenditures to April 30, 2008


Recommendation:
That the Committee receive the report titled Status of Utilities Capital Expenditures to April 30,
2008, dated May 30, 2008 for information.

1. PURPOSE

To report to the Committee(s) the status of utilities capital expenditures.

2. CONTEXT

This is the first in a series of three reports on capital expenditures for 2008 which follows the
Capital Expenditure reporting process as approved by the Board. This process provides for
regular status reports on capital expenditures with interim reports sent to the Waste
Management, Water and Finance Committees in June and October and a final year-end report
to the Committees and Board in April.

In addition to this report, due to its size and complexity, separate detailed updates on the
Seymour-Capilano Filtration Project are provided to the Water Committee and Board quarterly.

The capital projects are separated into two types: “Ongoing” and “Completed”. Narrative
information is provided describing key aspects of specific projects and each project is presented
in the context of Total Projected Project Costs to Completion as compared to the Total
Approved Budget.

Appendix A contains summary information on “Ongoing Projects” and “Completed Projects”.
The information presented is for Total Project Completion which will generally cover multiple
years.




4622593
                                              FIN-73
Finance Committee Meeting: June 12, 2008                                                    Page 2
Water Committee Meeting: June 19, 2008
Waste Management Committee Meeting: July 9, 2008
Status of Utilities Capital Expenditures to April 30, 2008



Ongoing Capital Projects:

    For ongoing projects, the Water District is projecting a favourable variance of $28.65 million
    (3.0%) upon completion of which $11.8 million relates to the Seymour-Capilano Filtration
    Project.

    The Sewerage and Drainage District is also projecting a favourable variance of $10.56
    million (5.7%) upon completion of ongoing projects.

Completed Capital Projects:

    These are projects that were completed during 2007 some of which extended over multiple
    years. Overall, the Water District and the Sewerage and Drainage District completed
    projects year-to-date are favourable by $1.68 million (5.3%) and $0.34 million (5.3%),
    respectively.

Narrative information for specific projects is presented in Appendix B with individual project
financial information included as follows: Schedule 1 – Water and Schedule 2 – Sewerage and
Drainage (both Liquid and Solid Waste).


Attachments:
    Appendix A:     Capital Expenditure Summary Information as at April 30, 2008
    Schedule 1:     Water District Capital Expenditures
    Schedule 2:     Sewerage & Drainage District Capital Expenditures
    Appendix B:     Capital Project Status Information as at April 30, 2008




4622593
                                                     FIN-74
                                                                   Appendix A

                       Capital Expenditure Summary Information
                                  As at April 30, 2008


                                Total Projected
                                Expenditures to     ACE/ Total     Projected
    Ongoing Projects              Completion         Budget        Variance
    Water                        $935,791,382      $964,446,079    $28,654,697
    Sewerage and Drainage        $174,185,601      $184,752,605    $10,567,004
    Total Ongoing Projects:     $1,109,976,983    $1,149,198,684   $39,221,701



                                 Total Actual       ACE/ Total
    2008 Completed Projects      Expenditures        Budget        Variance
    Water                          $29,980,959      $31,666,600    $1,685,641
    Sewerage and Drainage           $6,018,607       $6,357,000      $338,393
    Total Completed Projects:      $35,999,566      $38,023,600    $2,024,034




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                                        FIN-75
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004622593
                          FIN-76
                                                                                                                                                              Schedule 1
              Water District Capital Expenditures
              As of Apr 30, 2008

                                                                          Total Project
                                                              Total                             Total
                                                            Projected        ACE /            Projected               Percent    Project on
              8.8                                            Project      Total Project        Project                Complete   Schedule?
Program    Project ID Project Description                    Actuals        Budget            Variance       Note                   (Y/N)                             Comments
                      On-going Grand Totals                 935,791,382    964,446,079         28,654,697
                      Completed Grand Totals                 29,980,959     31,666,600          1,685,641

ON-GOING PROJECTS
                      Seymour Capilano Filtration Project   582,095,741    593,915,000         11,819,259    (e)(h)     75%          N        Twin tunnels behind schedule. (See Appendix B)
             A0049    DWTP Ozone Primary Disinf Cons         41,529,394     44,900,000          3,370,606     (a)       99%          Y
             A0052    GVWD Res Circ Program                     761,000        761,000                 -                97%          Y
             A0053    DWTP Second Disinfect Cons              9,752,949      9,900,000            147,051     (a)       98%          Y
             A0113    Coquitlam Ozone Standby Power             165,277        500,000            334,723     (j)       99%          Y
             A0132    Coq UV Disinfection Predesign           1,000,000      1,000,000                 -                89%          Y
             A0133    Seymour Main No3 Upgrades               1,500,000      1,500,000                 -                89%          Y
             A0137    Coquitlam Ozone Generator                 300,000        300,000                 -                27%          Y
             A0155    Coq UV Disinfect Detail Design          4,522,592      5,750,000          1,227,408     (f)       1%           Y
Drinking Water Treatment Cap                                641,626,953    658,526,000         16,899,047

              A0030    44th Ave Main Stg 1 Cons               5,603,873       7,000,000         1,396,127     (a)       96%          Y
              A0032    Barnston MR Pump Station                 200,000         200,000                -      (c)       89%          Y
              A0034    Cape Horn Reservoir Unit 2               420,000         420,000                -                49%          Y
              A0035    Coq Main No 4 Stg 1 Intake             1,100,000       1,100,000                -                13%          Y
              A0036    Maple Ridge Main Stage II                780,000         780,000                -      (b)       45%          Y
              A0037    Sasamat Pump Station                     115,000         115,000                -                82%          Y
              A0038    Sey Main No 5 Cap Coll to Bow          2,500,000       2,500,000                -                96%          Y
              A0039    Seym Main No 5 Stg 2 Cons              1,800,000       1,800,000                -                95%          Y
              A0041    Sey Main No 5 S Monashee Sect          4,000,000       4,000,000                -                90%          Y
              A0042    Sey Main No 5 S River Crossing         3,700,000       3,700,000                -                93%          Y
              A0122    Sey Main No 5 BC Hydro ROW Sec        11,500,000      11,500,000                -                95%          Y
              A0136    Sey Main No 5 S Maplewood Sect        10,700,000      10,700,000                -                83%          Y
              A0140    Coquitlam Intake No 2                    630,000         630,000                -                44%          Y
              A0144    Cap Main 5 Prebuild Phase 1            2,000,000       2,000,000                -                99%          Y
              A0147    Cap Main 5 Pipe Pre Purchase          10,000,000      10,000,000                -                95%          Y
              A0152    Maple Ridge Main Pre-Build             3,500,000       3,500,000                -                0%           Y
Infrastructure Growth Cap                                    58,548,873      59,945,000         1,396,127

              A0002    Des and Cons Remed E2 Shaft P1         1,500,000       1,500,000                -                79%          N        Delayed due to SCFP; design work has recommenced.
              A0050    SCADA Replacement Project              3,000,000       3,000,000                -                35%          Y
              A0075    Phase 2Rem Cons E2 Drain CI Da           850,000         850,000                -                93%          Y
              A0119    SCADA Replacement Proj Des               500,000         500,000                -                80%          Y
              A0134    Douglas Road Main 2 Stage 1           10,364,359      12,500,000         2,135,641     (a)       99%          Y
              A0138    25th Ave Main RAV Project                500,000         500,000                -                71%          N        Delayed by Canada Line schedule.
              A0146    Douglas Rd Main 2 Stage II            11,000,000      11,000,000                -                6%           Y
              A0148    25th Ave Main No 2 Design                500,000         500,000                -                91%          Y
              A0150    Douglas Rd Mn2-13 Ave Sect Des           700,000         700,000                -                0%           Y
              A0151    25th Ave Main 2 Construction           9,000,000       9,000,000                -                0%           Y
              A0156    Tilbury Scour Protect                    561,000         561,000                -                0%           Y
              A0157    Angus Scour Design                       125,000         125,000                -                0%           Y
Infrastructure Maintenance Cap                               38,600,359      40,736,000         2,135,641

              A0012    Cleveland Dam E Abut Auto Mon            577,894        600,000             22,106     (i)       93%          Y
              A0014    CD Fish Hatch Impact Mitig             3,550,112      3,900,000            349,888     (g)       87%          Y
              A0016    Little Mtn Res Seis Upg Recon         32,687,921     37,600,000          4,912,079     (a)       99%          Y
              A0018    Design Sec Narrows Tun Bur Inl           850,000        850,000                 -                84%          Y
              A0023    Seis Upgrade Kersland Res              3,350,000      3,350,000                 -                91%          Y
              A0024    Seymour Falls Dam Seismic Cons        45,749,399     47,800,000          2,050,601    (d)(e)     95%          Y
              A0026    Van Hts Res Remedial Work              3,650,000      3,650,000                 -                87%          Y
              A0051    LS Conservation Res Access Imp         3,200,000      3,200,000                 -                94%          Y
              A0110    Capilano Main 5 Seismc Upg Des           150,000        150,000                 -                80%          N        Reviewing Cap. Main 5 isolation.
              A0114    Cap Main 1st Narw Seis Upg Des           250,000        250,000                 -                97%          N        Coordinating work with Environment Canada.
              A0115    Cambie Rmd Cr Seismic Upgrade            500,000        500,000                 -                99%          Y
              A0116    Seism Up Kers LMtn CenPk West            230,000        230,000                 -                31%          Y
              A0120    Beach Yard Elec Inf Seismic            1,450,000      1,450,000                 -                99%          Y
              A0130    P Mann FR Xing No 2 Detail Des         3,900,000      3,900,000                 -                56%          N        Complex geotechnical conditions
              A0135    Cambie Richm Mains Seis Const          6,760,000      6,760,000                 -                53%          Y
              A0145    Whalley Reservoir Upgrade              2,610,792      3,500,000            889,208    (a)(d)     85%          Y
Infrastructure Risk Mgmt Cap                                109,466,118    117,690,000          8,223,882

              A0158    Water Meter Upgrades                     120,000         120,000                 -               0%           N        Project delayed due to resource limitations.
              A0159    Pt.Moody Connector Main Meter             50,000          50,000                 -               0%           N        Project delayed due to resource limitations.
Infrastructure Upgrade Cap                                      170,000         170,000                 -


             A0097    Boundary Rd Main No 5 I North          20,000,000      20,000,000                 -               95%          N        Slower than anticipated progress by installation contractor.
             A0142    Boundary Road Main 5 Phase 2           19,500,000      19,500,000                 -               75%          Y
             A0143    Boundary Rd Main 5 South Desig          1,000,000       1,000,000                 -               98%          Y
             A0149    Boundary Rd Main No 5 Phase 3          39,000,000      39,000,000                 -               7%           Y
             A0154    Boundary Rd Main No 5 BHPS              7,500,000       7,500,000                 -               28%          Y
Water Infr Boundary Main 5 Cap                               87,000,000      87,000,000                 -

Water Infrast Relocation Cap                                    379,079         379,079                 -               46%          Y

                                                            935,791,382    964,446,079         28,654,697

COMPLETED PROJECTS

             A0141    Coq Ozone Power Supply Upgrade          5,335,951       6,560,000         1,224,049     (d)      100%
Drinking Water Treatment Cap                                  5,335,951       6,560,000         1,224,049

              A0089    Port Moody Connect Main                2,829,841       2,800,000           (29,841)    (k)      100%
              A0139    Cap Mn 5 Selkirk Lt Mtn Design           499,847         500,000               153              100%
Infrastructure Growth Cap                                     3,329,688       3,300,000           (29,688)

              A0013    East Abut Seepage Construction        21,315,320      21,806,600           491,280     (d)      100%
Infrastructure Risk Mgmt Cap                                 21,315,320      21,806,600           491,280

                                                             29,980,959      31,666,600         1,685,641


004627853 2008 WD Capital Expenditure Summary - April                                     Page 1 of 2                                                                                        2008-06-03
                                                                                          FIN-77
                                                                                                                                                    Schedule 1
             Water District Capital Expenditures
             As of Apr 30, 2008

                                                                              Total Project
                                                                 Total                              Total
                                                               Projected         ACE /            Projected            Percent   Project on
              8.8                                               Project       Total Project        Project            Complete   Schedule?
Program    Project ID Project Description                       Actuals         Budget            Variance     Note                 (Y/N)             Comments

 Notes:
  (a)     Competitive construction market resulted in a positive variance.
  (b)     GVWD share - 59.80%: Maple Ridge share - 40.20% (37615 or A0036).
  (c)     GVWD share - 39.18%: Maple Ridge share - 14.09% : Langley share - 46.73%. (37805 or A0032)
  (d)     Full contingency not required.
  (e)     Actual Expenditures are net of revenue.
   (f)    Competative proposal price for detailed design assignment.
  (g)     Allowance for additional fisheries impact mitigation not required.
  (h)     Separate quarterly status reports for the Seymour-Capilano Filtration Project are being provided to the Water Committee and GVWD Board.
   (i)    Saved money through a successful competitive bid process and project management.
   (j)    Under budget due to scope reduction.
  (k)     Additional drainage and restoration work in Eagleridge Park.




004627853 2008 WD Capital Expenditure Summary - April                                         Page 2 of 2                                                        2008-06-03
                                                                                              FIN-78
                                                                                                                                                                 Schedule 2
             Sewerage and Drainage District Capital Expenditures
             As of Apr 30, 2008

                                                                         Total Projects
                                                             Total                              Total
                                                           Projected         ACE /           Projected               Percent    Project on
               8.8                  Project Description     Project       Total Project        Project               Complete   Schedule?
 Program    Project ID                                      Actuals         Budget            Variance      Note                   (Y/N)                                 Comments
                         On-going Grand Totals             174,185,601     184,752,605       10,567,004
                         Completed Grand Totals              6,018,607       6,357,000          338,393
ON-GOING PROJECTS

               Z0002   Iona WWTP Fac Plan Upgrade              750,000          750,000              -                 92%          Y
               Z0003   Lions Gate WWTP Fac Plan Upgd           250,000          250,000              -                 96%          Y
               Z0005   NW Langley WWTP Upgrade              12,000,000       12,000,000              -                 82%          Y
               Z0045   LIWWTP Stage4 Phase2 Exp              1,100,000        1,100,000              -                 99%          Y
               Z0046   LIWWTP Stage4 Phase2 Expansion       21,000,000       26,000,000       5,000,000     (1)(6)     70%          Y
               Z0047   AIWWTP - Trickling Filter Pump        1,350,000        1,350,000              -                 2%           N        Construction completion delayed due to long pump delivery.
               G0003 Sapperton Forcemain Const               4,800,000        4,800,000              -                 83%          Y
               G0004 Front St Pres Sewer Skytrain            3,750,000        3,750,000              -                 88%          Y
               G0009 Katzie Forcemain Twinning Ke              600,000          600,000              -                 25%          Y
               G0033 SSI Colebrook Road Section Ph2         10,721,949       14,310,000       3,588,051      (4)       99%          Y
               G0039 NSI 104 Ave Extension                   2,400,000        2,400,000              -                 99%          Y
               G0040 Maple Ridge FM No 2 Katzie Sec          1,300,000        1,300,000              -                 0%           Y
               G0041 Sapperton Pump Station Design             500,000          500,000              -                 0%           N        Delayed due to design flow reassessment.
               G0042 SSI King George Design                    800,000          800,000              -                 12%          Y
               G0043 NSI Port Mann Twinning                    600,000          600,000              -                 0%           Y
SD Infrastructure Growth                                    61,921,949       70,510,000       8,588,051

             N0001       Columbia St Pump Stn Upgr Con      10,650,000       10,650,000                 -              84%          Y
             N0014       Iona WWTP 2003 Motor Cont Repl        970,000          970,000                 -              95%          N        Project delayed due to resource limitations.
             N0037       LGWWTP 2003 Motor Rep                 300,000          300,000                 -              94%          N        Project delayed due to resource limitations.
             N0040       LGWWTP Digester No 3 RP Repl        3,645,000        3,645,000                 -              99%          Y
                                                                                                                                             North Fraser Way Relief Sewer meter deferred due to re-design
             N0046       Cost Alloc Billing Network          5,014,677        5,230,000         215,323      (3)       90%          N        of sewer line.

               N0086 Iona WWTP Control and Inst Sys            100,000          100,000             -                  92%          N        Project delayed due to resource limitations.
               N0187 IIWWTP 2004 Motor Cont Ctr Rep            625,000          625,000             -                  38%          N        Project delayed due to resource limitations.
               N0189 Iona Is WWTP Contr Instr Rep              200,000          200,000             -                  94%          N        Project delayed due to resource limitations.
               N0191 Iona Outfall Jetty Repairs PH3            700,000          700,000             -                  74%          Y
               N0192 IIWWTP Sed Tanks Struct Assess            200,000          200,000             -                  81%          Y
               N0193 Chilco Forcemain Replacement            1,430,000        1,430,000             -                  61%          Y
               N0212 LGWWTP 2004 Motor Cont Ctr Rep            275,000          275,000             -                  95%          N        Project delayed due to resource limitations.
               N0213 LGWWTP Raw SewPump Eng Dr Rep           1,174,216        1,750,000         575,784      (5)       14%          N        Project scope revised.
               N0214 LGWWTP Oper Bldg Ren Design               200,000          200,000             -                  28%          N        Project scope revised.
               N0217 Lulu Is W SA Odour Control Fac            100,000          100,000             -                  86%          Y
               N0287 Iona Outfall Control Chamber              650,000          650,000             -                  73%          Y
               N0289 Lions Gate WWTP Control n Ins             500,000          500,000             -                  98%          N        Project delayed due to resource limitations.
               N0290 Iona Is WWTP Control and Ins              750,000          750,000             -                  79%          N        Project delayed due to resource limitations.
               N0293 LGWWTP 2005 MCC Replacement               200,000          200,000             -                  88%          N        Project delayed due to resource limitations.
               N0294 IIWWTP 2005 MCC Replacement               600,000          600,000             -                  71%          N        Project delayed due to resource limitations.
               N0296 Gleneagles PS 2 5 Rehab Design            400,000          400,000             -                  21%          Y
               N0297 AIWWTP Liquid Disinfect System          1,390,000        1,390,000             -                  25%          N        Additional site assessment and geotechnical investigation.
               N0300 Gleneagles PS3 Construction               900,000          900,000             -                  88%          Y
               N0303 Iona WWTP Control Instrument              750,000          750,000             -                  84%          N        Project delayed due to resource limitations.
               N0304 Lions Gate Control Instrument             400,000          400,000             -                  76%          N        Project delayed due to resource limitations.
               N0306 LGWWTP 2006 MCC Replacement               550,000          550,000             -                  13%          N        Project delayed due to resource limitations.
               N0307 Iona WWTP 2006 MCC Replacement            700,000          700,000             -                  2%           N        Project delayed due to resource limitations.
               N0309 LGWWTP Digester4 Refurbishment            580,000          580,000             -                  20%          Y
               N0315 Marshend PS Design                        800,000          800,000             -                  12%          Y
               N0318 FSA Sewer Repair                        2,000,000        2,000,000             -                  4%           Y
               N0321 LGWWTP Control Instrument 2008            300,000          300,000             -                  0%           Y
               N0322 IIWWTP Control Instrument 2008            500,000          500,000             -                  0%           Y
               N0323 LGWWTP O&M Facility Constr                300,000          300,000             -                  0%           Y
               N0325 Gleneagles PS 1 - Rehab                   500,000          500,000             -                  0%           Y
               N0326 IIWWTP CEPT Design                      1,550,000        1,550,000             -                  0%           Y
               N0328 Crescent Scour Protect                    506,000          506,000             -                  0%           Y
               N0329 Highbury Scour Protect                    236,500          236,500             -                  0%           Y
SD Infrastructure Maint Cap                                 40,646,393       41,437,500         791,107

               N0022 Sys Air Mgmt Odour Control                 80,000           80,000                 -              40%          Y
               N0045 LIWSA Infil Inflow Reduction              463,000          463,000                 -              98%          N        Proposed Brighouse South meter location moved.
               N0056 FSA Easement Acquisition Progr          1,500,000        1,500,000                 -              72%          Y
               N0067 South Surrey Inter Rehab Desgn            200,000          200,000                 -              20%          N        Deferred to 2009.
               N0188 Harbour PS Phase 3 Upgrades               500,000          500,000                 -              99%          Y
               N0301 Jervis FM False Creek Crossing          6,000,000        6,000,000                 -              65%          N        Contractor behind schedule, work to resume in Fall 2008.
               N0310 Jervis Force Main Planetarium             500,000          500,000                 -              34%          Y
               N0311 Highbury Int Siphon Upgrade               500,000          500,000                 -              11%          Y
               N0313 Coquitlam Interceptor Repair              150,000          150,000                 -              8%           Y
               N0319 Jervis Planetarium                      2,300,000        2,300,000                 -              2%           Y
               N0327 LGWWTP Refurb of DSST1-Design             300,000          300,000                 -              0%           N        Project delayed due to limited resources.
SD Infrastructure Risk Mgmt Cap                             12,493,000       12,493,000                 -

             N0023       VSA Statutory Right of Way            670,000          670,000                 -              62%          Y
             N0024       Columbia Forcemain Install          2,900,000        2,900,000                 -              98%          Y
             N0025       Grit Chambers Upg Install             100,000          100,000                 -              68%          Y
             N0027       8th Ave Interceptor Air Mgmt          100,000          100,000                 -              14%          Y
             N0028       Highbury Interceptor Air Mgmt         100,000          100,000                 -              69%          Y
             N0030       Jervis St and Kent Ave Pump St        120,000          120,000                 -              33%          N        Project on hold.
             N0043       NSSA Easement Acq 1995                225,000          225,000                 -              81%          Y
             N0057       Bby S Slope Interc West Branch      2,300,000        2,300,000                 -              18%          N        Assessing pipe alignment options.
             N0058       Cloverdale SSO Storage Fac Cns      3,385,000        3,385,000                 -              98%          Y
             N0060       FSA Odour Control Facilities          500,000          500,000                 -              83%          Y
             N0062       Burn S Slope Interc Twinning        1,025,000        1,025,000                 -              67%          N        Assessing pipe alignment options.
             N0064       Ventilation and Odour Control         112,500          112,500                 -              2%           Y
             N0065       NW Sewer overflow Oper Impr           800,000          800,000                 -              62%          Y
             N0066       New West Const CSO Storage Pro      4,667,000        4,667,000                 -              95%          Y
             N0069       Sapperton PS Upgrade Design         1,200,000        1,200,000                 -              42%          N        Delayed due to design flow reassessment.
             N0070       Sewer Int Vent and Odour              400,000          400,000                 -              89%          Y
             N0194       Jervis Forcemain Ext 8th Ave          300,000          300,000                 -              13%          Y
             N0282       Jervis Pump Station Wet Well          150,000          150,000                 -              84%          Y
             N0284       Sperling Pump Station Upgrade         275,000          275,000                 -              61%          Y
             N0295       Port Moody PS Odour Control           250,000          250,000                 -              97%          Y


   004627852 2008 SD Capital Expenditure Summary - April                                  Page 1 of 2                                                                                         2008-06-03
                                                                                      FIN-79
                                                                                                                                                                         Schedule 2
              Sewerage and Drainage District Capital Expenditures
              As of Apr 30, 2008

                                                                                     Total Projects
                                                                       Total                               Total
                                                                     Projected           ACE /           Projected               Percent    Project on
                 8.8             Project Description                  Project         Total Project       Project                Complete   Schedule?
 Program Project ID                                                   Actuals           Budget           Variance       Note                   (Y/N)                             Comments
               N0298 CloverdaleSSO Storage Facility                    4,195,000         4,195,000               -                 98%           Y
               N0302 Jervis PS Upgrade Construction                      489,715         1,400,000          910,285      (5)       8%            Y
               N0308 NW Langley WWTP Facility Plan                       300,000            300,000              -                 68%           Y
               N0312 Lynn Branch Siphon Twinning                         300,000            300,000              -                 8%            N     Scope of work under review.
               N0314 Port Moody PS Odour Construct                     1,222,439         1,500,000          277,561     (1)(6)     51%           Y
               N0320 Jervis Ext to 8th Ave                               975,000            975,000              -                 2%            Y
               N0324 AIWWTP Gas flow Meter Replace                       542,202            542,202              -                 0%            N     Metering technologies under review.
SD Infrastructure Upgrade Cap                                         27,603,856        28,791,702        1,187,846

SD Infrastruct Relocation Cap                                             330,403           330,403                 -              5%           Y

               X0001 VSA-IONA WWTP Upgrade Design                      4,000,000          4,000,000                 -              0%           Y
               X0002 NSA-LIWWTP Upgrade Design                         2,500,000          2,500,000                 -              0%           Y
               X0003 Site Purchase- Lions Gate WWTP                   15,000,000         15,000,000                 -              0%           Y
SD Infr Sec Treat Upgrade Cap                                         21,500,000         21,500,000                 -

              L0019    Ashcroft Ranch Housing Phase 2                     655,000           655,000                 -              99%          Y
SW Ashcroft Landfill Capital                                              655,000           655,000                 -

               L0022    COQ LF Flyash Cell 2 Design                       200,000           200,000                 -              24%          Y
               L0023    COQ LF Flyash Cell 2 Construct                    700,000           700,000                 -              3%           Y
SW Landfills Capital                                                      900,000           900,000                 -

              L0011    Matsqui TS Floor Slab Replacem                      75,000            75,000                 -              6%           N      Deferred to Q4 2008.
SW Transer Station System Cap                                              75,000            75,000                 -

             L0018    Heat Rec Imp Waste to Energy                      6,760,000         6,760,000                 -              97%          Y
             L0020    NOx Reduction Project Design                        900,000           900,000                 -              2%           Y
             L0021    Clean Room Project Design                            50,000            50,000                 -              81%          Y
             L0024    WTEF Fabric Filter Baghouse                         200,000           200,000                 -              0%           Y
             L0025    WTEF Air Cooled Condenser                           150,000           150,000                 -              0%           Y
SW Waste to Energy Fac Cap                                              8,060,000         8,060,000                 -

                                                                     174,185,601        184,752,605      10,567,004


COMPLETED PROJECTS

              G0002 N Surrey Inter 104 Ave Ext design                     498,112           500,000           1,888               100%
              G0006 SSI Twinning Colebrook2 Prop Acq                    1,985,245         2,000,000          14,755               100%
SD Infrastructure Growth                                                2,483,357         2,500,000          16,643

              N0006 Iona Structural Inspect Corrosion Repair                    63          100,000          99,937      (2)      100%
              N0036 LG Disinfection system upgrade                      1,401,627         1,400,000          (1,627)              100%
              N0051 Sewers Repair & Replacement                           225,839           250,000          24,161               100%
              N0073 Still Ck Brunette Drain Ren                           219,287           222,000           2,713               100%
              N0305 Iona WWTP Jetty Repair 2006                         1,107,113         1,200,000          92,887      (1)      100%
              N0266 Westridge PS No 1 Repairs                                  -            100,000         100,000      (2)      100%
SD Infrastructure Maint Cap                                             2,953,929         3,272,000         318,071

              L0016    Ashcroft Ranch Housing Phase 1                     581,321           585,000           3,679               100%
SW Ashcroft Landfill Capital                                              581,321           585,000           3,679

                                                                        6,018,607         6,357,000         338,393

   Notes:
    (1)      Project projected to complete under budget - savings due to competitive pricing.
    (2)      Project cancelled.
    (3)      Fewer than the originally budgeted meter sites were built, and we experienced lower than anticipated tender amounts.
    (4)      Project projected to complete under budget due to competitive pricing and improved soil conditions.
    (5)      Reduction in scope.
    (6)      Full contingency not required.




    004627852 2008 SD Capital Expenditure Summary - April                                             Page 2 of 2                                                                            2008-06-03
                                                                                                  FIN-80
                                                                                    Appendix B
                               Capital Project Status Information
                                      As at April 30, 2008


1.       Greater Vancouver Water District

Major GVWD capital projects are generally proceeding on schedule and within budget. The
following capital program items and exceptions are highlighted:


i)   Drinking Water Treatment Program

     •   Construction of the Seymour-Capilano Filtration Project (SCFP) is approximately 75%
         complete. As of the end of April, this major project was projected to be complete by mid
         2010 at a cost of $582 million, under the $600 million budget approved by the Board in
         2003. Costs reported herein are to April 30, 2008 prior to termination of the tunnelling
         contractor’s right to perform further work under the contract. Completion costs and
         schedule for the twin tunnels component are currently under review and will be better
         defined once a replacement contractor has been secured.

     •   Detailed design of the Coquitlam UV disinfection facility is underway with construction
         scheduled from 2009 to 2010.


ii) Infrastructure Growth Program

     •   Seymour Main No. 5 was completed and put into service in early August 2007. Final
         restoration, including paving, was substantially complete in September following
         completion of a new municipal watermain on behalf of the District of North Vancouver. A
         number of system tie-ins and valve installations have been ongoing since the fall and are
         scheduled to complete in June.

     •   Construction of Capilano Main No. 5 commenced in October 2007 and is approximately
         95% complete. The project, including the Oak Street and Cambie Street crossings, is
         expected to be complete by summer 2008.


iii) Infrastructure Maintenance Program

     •   The final phase of the E2 drainage shaft upgrade, near Cleveland Dam, was initiated in
         fall 2007. The design consultant has now started work.

     •   The replacement of the Supervisory Control and Data Acquisition (SCADA) system for
         the water system and sewer collection system, including the associated system
         configuration and programming assignment, continues. It is anticipated that the new
         system will go live in early May, but run in parallel with the old system until late this year.

     •   Installation of Douglas Road Main No. 2 – Stage 1 (Delta Avenue and Buckingham
         Heights Sections) was completed under budget but slightly behind schedule. Both
         sections of main are now in service.




004622593
                                                FIN-81
   •   Detailed design for Douglas Road Main No. 2 – Stage 2 (Canada Way South Section) is
       complete and an installation contract awarded in March. Construction commenced in
       April and is scheduled for completion in November.


iv) Infrastructure Risk Management Program

   •   Conceptual design for the proposed tunneled crossing of Burrard Inlet at 2nd Narrows is
       now complete. The RFP for preliminary design is being prepared and is expected to be
       ready to issue by July.

   •   Work on the Seymour Falls Dam Seismic Upgrade project is substantially complete, on
       schedule and under budget. Tasks remaining for 2008 include some replanting,
       installation of public amenities at the dam site, operations structure replacement, and
       mainline road repaving. A number of these tasks are now underway. It is anticipated
       that these ancillary tasks will be completed by late 2008.

   •   Detailed design for seismic upgrading of Capilano Main No. 5 (Capilano River pipe
       bridge crossing) continues. This project is behind schedule as system isolation issues
       are more complex than originally anticipated, however, a workable solution has been
       conceptualized. Construction is tentatively scheduled for fall 2008.

   •   Work on seismic upgrading of Capilano Mains No. 4 and 5 at the North Shaft of the 1st
       Narrows crossing has been delayed to coordinate with soil remediation being
       undertaken by Environment Canada (EC) at the Pacific Environmental Centre (PEC) site
       at the south foot of Capilano Road in North Vancouver. A staged upgrade program has
       been developed and detailed design is now substantially complete.

   •   Design of the new tunneled crossing of the Fraser River at Port Mann continues.
       Discussions continue with the Gateway Program to ensure that property and
       construction issues are coordinated. Permitting for the project also continues. Detailed
       design is now anticipated to be complete by late 2008.

   •   Seismic upgrade of the Cambie-Richmond Mains (Fraser River North Arm crossing)
       continues. The ground densification contract is now complete, within budget. Repairs to
       the mains attached to the underside of the Oak St. bridge are now underway under a
       separate contract. The repairs are expected to be complete by summer 2008 with final
       system tie-ins scheduled for fall 2008.


v) Infrastructure Boundary Road Main No. 5 Program

   •   Phase 1 – Work has been underway since May 2006 and is now substantially complete.
       The remaining work, including pipe cleaning, testing and restoration, is expected to be
       complete by June. This phase of the project is behind schedule due mainly to slower
       than anticipated progress by the installation contractor. However, the overall Boundary
       Road Main No. 5 project remains on schedule for completion in early 2009.

   •   Phase 2 – Construction started in September 2007 along Rupert Street, between 1st
       Avenue and 29th Avenue, in Vancouver. Work is approximately 80% complete. This
       phase is on schedule and is expected to be complete by July.




004622593
                                           FIN-82
     •   Phase 3 – Detailed design is about 95% complete. A contract for steel pipe pre-
         purchase was awarded in December 2007. Construction tenders (2) are scheduled to be
         issued in May and June, respectively. Completion of this final phase of Boundary Road
         Main No. 5 is projected by early 2009.


2.       Greater Vancouver Sewerage & Drainage District

a)       Liquid Waste

Major GVS&DD liquid waste capital projects are generally proceeding on schedule and within
budget. The following capital program items and exceptions are highlighted:


i)   Infrastructure Growth Program

     •   LSA – Lulu Island WWTP Stage 4 Expansion – This major expansion project is under
         budget and on schedule for completion in July 2008.

     •   FSA – North Surrey Interceptor – 104th Avenue Extension – Construction started in July
         2007 and is now substantially complete. This facility was placed into service in late
         January.


ii) Infrastructure Maintenance Program

     •   VSA - Columbia Pump Station – Construction is proceeding well and is approximately
         75% complete. Project completion and commissioning are expected by July.

     •   VSA/NSSA – Motor Control Centre (MCC) Replacement and Control/Instrumentation
         Programs – Behind schedule due to limited electrical engineering resources. All of these
         phases are anticipated to be complete by early 2009.

     •   FSA – Annacis Island WWTP Disinfection System - Predesign completed and
         proceeding into detailed design, with site preparation/preload work scheduled for July
         and commencement of construction in December.

     •   NSA – Lions Gate WWTP Digester No. 4 Refurbishment – Digester cleaning and
         inspection work is scheduled for July.


iii) Infrastructure Risk Management Program

     •   VSA - Jervis Forcemain False Creek Crossing – Tunnelling under False Creek, by
         horizontal directional drilling, is now substantially complete except for the final reaming
         of the tunnel bore. Numerous delays have been experienced by the contractor in
         completing this phase of the work. As a result, completion of the remaining work will be
         postponed until fall/winter 2008 due to the heavy summer use at Vanier Park and Sunset
         Beach.




004622593
                                               FIN-83
iv) Infrastructure Upgrade Program

     •   FSA - Burnaby South Slope Interceptor West Branch – Land acquisition issues continue
         to delay this project. Staff are reviewing possible alignment revisions to resolve this
         issue.

     •   FSA - Cloverdale SSO Storage Facility – Construction, including commissioning and site
         restoration, is complete and the facility has been put into operation.

     •   FSA - New Westminster CSO Storage Facility and Poplar Landing Sewer – Construction
         of all three major project components including the CSO storage tank, the Poplar
         Landing sewer and the control building is complete.             Following testing and
         commissioning, the entire system is expected to be operational by June.

     •   FSA – Sapperton Pump Station – Detailed design started in December and is expected
         to be complete by the end of 2008 with construction planned for 2009/2010.

     •   FSA – Port Moody Pump Station Odour Control Facility – Construction of this project,
         which includes odour control, seismic upgrade and beautification, is now complete.


b)       Solid Waste

i)   Ashcroft Ranch Program

     •   Phase 2 Ranch Housing construction is complete and the houses are occupied.


ii) Landfills Program

     •   Flyash Cell No 2 cover design is being coordinated with the Coquitlam Landfill closure
         plan.


iii) Transfer Station Program

     •   The Matsqui Transfer Station Floor Replacement project has been deferred until the
         fourth quarter of 2008 as the existing floor continues to exceed expectations for wear.


iv) Waste-to-Energy Facility Program

     •   Phase 1 heat recovery improvements at the WTEF were completed under budget. The
         Board approved application of surplus funds to Phase 2. Heat Recovery improvements
         are substantially complete and are scheduled to be in service by early May.




004622593
                                             FIN-84
                                                                                              5.5



                                                 Finance Committee Meeting Date: June 12, 2008

To:          Finance Committee

From:        Gord Nicol, Comptroller Treasury

Date:        June 5, 2008

Subject: Floating Rate Exposure to April 30, 2008

Recommendation:
That the Finance Committee receive the report titled “Floating Rate Exposure to April 30, 2008”
dated June 5, 2008 for information.


1. PURPOSE

To report on the GVRD’s exposure to interest rate risk from floating rate debt, as required by
policy.

2. CONTEXT

By Policy our exposure to floating rate debt is capped at 20% of total debt. In the past it has
been rare that we have reached or exceeded this limit and our current results show that we are
well below the maximum established.

The actual fixed and floating rate debt with the effective rates, the maximum level of floating rate
debt permitted under policy, and the percentage actual floating rate debt is of our total debt are
provided on the attached Schedule 1.

3. ALTERNATIVES

N/A

4. CONCLUSION

All Floating Rate Debt continues well below the 20% maximum allowable limit.




GN/eb
Attachment

Doc. #004624232




                                                FIN-85
                                                                                                                   Schedule 1



FIXED DEBT & FLOATING RATE EXPOSURE
27-May-08
(Using TMAN Report 330 & 265)
                                                     January '08           February            March                April

GVWD (30)

Capital Debt
 Fixed Debt                                      $     629,363,071     $   629,363,071     $   629,363,071     $   669,363,071
    Weighted effective Fixed Rate                             5.42%               5.42%                5.42%                5.38%
  Floating Rate Debt                                               0                  0          5,753,077          16,566,021
    Effective Floating Rate                                   4.49%               4.22%                4.04%                4.46%
  Total Debt                                     $     629,363,071     $   629,363,071     $   635,116,148     $   685,929,092

Max Permitted Floating Debt                              157,340,768         157,340,768         157,340,768         167,340,768
Actual Floating Rate Debt                                          0                   0           5,753,077          16,566,021
Actual Floating Rate Debt as a % of Total Debt                  0.0%                0.0%                0.9%                2.4%
Actual Fixed Debt as a % of Total Debt                        100.0%              100.0%               99.1%               97.6%


GVS&DD - LIQUID WASTE (51)

Capital Debt
 Fixed Debt                                      $     425,790,330     $   425,790,330     $   425,790,330     $   425,790,330
    Weighted effective Fixed Rate                             5.82%               5.82%                5.82%                5.82%
  Floating Rate Debt                                     1,964,579           4,062,293           6,512,818           7,801,524
    Effective Floating Rate                                   4.49%               4.22%                4.04%                4.46%
  Total Debt                                     $     427,754,909     $   429,852,623     $   432,303,148     $   433,591,854

Max Permitted Floating Debt                              106,447,583         106,447,583         106,447,583         106,447,583
Actual Floating Rate Debt                                  1,964,579           4,062,293           6,512,818           7,801,524
Actual Floating Rate Debt as a % of Total Debt                  0.5%                0.9%                1.5%                1.8%
Actual Fixed Debt as a % of Total Debt                         99.5%               99.1%               98.5%               98.2%


GVS&DD - SOLID WASTE (60)

Capital Debt
 Fixed Debt                                      $      41,098,676     $    41,098,676     $    41,098,676     $    41,098,676
    Weighted effective Fixed Rate                             6.36%               6.36%                6.36%                6.36%
  Floating Rate Debt                                               0                  0                   0             13,043
    Effective Floating Rate                                   4.49%               4.22%                4.04%                4.46%
   Total Debt                                    $      41,098,676     $    41,098,676     $    41,098,676     $    41,111,719

Max Permitted Floating Debt                               10,274,669          10,274,669          10,274,669          10,274,669
Actual Floating Rate Debt                                          0                   0                   0              13,043
Actual Floating Rate Debt as a % of Total Debt                  0.0%                0.0%                0.0%                0.0%
Actual Fixed Debt as a % of Total Debt                        100.0%              100.0%              100.0%              100.0%



Total Fixed Utility Debt (above)                 $ 1,096,252,077       $ 1,096,252,077     $ 1,096,252,077     $ 1,136,252,077
Regional District Fixed (Park Debt)              $    13,250,001       $    13,250,001     $    13,250,001     $    13,250,001
Direct Regional District Liability               $ 1,109,502,078       $ 1,109,502,078     $ 1,109,502,078     $ 1,149,502,078

Total Floating                                   $       1,964,579 $         4,062,293 $        12,265,895 $        24,380,588
Floating Percent of Total                                    0.18%               0.37%               1.11%               2.12%




                                                           FIN-86
                                                                                          5.6



                                               Finance Committee Meeting Date: June 12, 2008



To:        Finance Committee

From:      Gord Nicol, Comptroller Treasury

Date:      June 5, 2008

Subject:   Investment Position and Returns – January 1, 2008 to April 30, 2008

Recommendation:
That the Finance Committee receive the report titled “Investment Position and Returns –
January 1, 2008 to April 30, 2008” dated June 5, 2008 for information.


1. PURPOSE

To report the investment returns pursuant to the requirements of the Investment Policy.

2. CONTEXT

Policy requires that investment returns be reported to the Committee three times per year. This
is the first report for 2008.

Regular cash demands as well as our conservative investment strategy require that we maintain
a high degree of liquidity in our investment portfolio including both short and long term
investments. Our short term investments, those with terms of less than one year and the
highest degree of liquidity, are used to meet our working capital requirements. Short term
investments normally include Canada Treasury Bills, Provincial debt instruments and Banker’s
Acceptances.

Long term investments have terms of greater than one year. These investments normally
include primarily Canada, Provincial and Bank bonds, are less liquid than our short term
investments and are held both to manage the risk of interest rate fluctuations and for funding
requirements of a longer term perspective. Long term investments include the Cultural Grant
Reserve where annual investment returns fund the GVRD’s annual contribution to cultural
activities.




                                              FIN-87
Finance Committee – June 12, 2008                                                        Page 2
Investment Position & Returns - January 1, 2008 to April 30, 2008



Investment Portfolio Returns

                              SUMMARY OF INVESTMENT RESULTS
PERIOD                            SHORT TERM       LONG TERM           CULTURAL RESERVE
Jan to April 2008                    1.35%           1.53%                   1.48%
Estimated Annual Rate                4.05%           4.59%                   4.44%
                                           Table 1


Comparison to Benchmarks
Policy requires that we compare our actual performance against specific benchmark returns.
The selected benchmarks for both short and long term investments, indicated below, are
consistent from period to period and are meant to be indicative of each of our portfolios on an
ongoing basis.


Short Term Investment Performance

                      INVESTMENT RESULTS SHORT TERM PORTFOLIO -
                             COMPARISON TO BENCHMARKS
                                           CURRENT PERIOD           ESTIMATED ANNUAL RATE
GVRD Short Term                                    1.35%                    4.05%
One Month B/A                                      1.26%                    3.79%
Three Month B/A                                    1.26%                    3.78%
One Month Treasury Bills                           0.95%                    2.87%
                                                  Table 2

The estimated annualized return on our short term Investment portfolio at 4.05% exceeded the
return all of our benchmark references during our first reporting period of 2008. During this
period the Bank of Canada lowered the overnight funding rate a total of 125 basis points
causing Canadian short term investment rates to rally substantially.

Our benchmarks are based on the average yields for each month in the period as taken from
the Bank of Canada website. As these are "annual" rates we divide by 3 to get an approximate
four month return which we compare to our actual performance. During periods of quickly
falling rates, as we have seen this reporting period, the method of calculating our benchmark
returns will be biased towards lower yields and should be kept in mind when comparisons are
made.




                                                  FIN-88
Finance Committee – June 12, 2008                                                                   Page 3
Investment Position & Returns - January 1, 2008 to April 30, 2008



At April 30, 2008 our Short Term Portfolio held a total of $177.9 million dollars (at cost)
representing 58% of our total investments. The average term to maturity is 49 days and the
average return is 3.42%.

Schedule 1 following this report provides a listing of our short term investments as of April 30,
2008.


Long Term Investment Performance

                      INVESTMENT RESULTS LONG TERM PORTFOLIOS -
                             COMPARISON TO BENCHMARKS
                                           CURRENT PERIOD             ESTIMATED ANNUAL RATE
GVRD Long Term Portfolio                       1.53%                          4.59%
Cultural Reserve Portfolio                     1.48%                          4.44%
Benchmark – MFA Bond Fund                          2.07%                           6.21%
                                                  Table 3

Performance on our long term investments is favourable for the first period of 2008. With an
estimated annual return of 4.59% and 4.44% on our portfolios, although not matching the
exceptional performance of the MFA, still represent solid returns. Please remember that we
have discontinued incorporating market value changes into our return calculations. Given the
rally that we have seen in interest rates during this first period, particularly in high quality bonds,
it would be expected to have positive market value changes thus contributing to the MFA's very
positive return. Please refer to the Bank of Canada graph below showing the rally in 1 to 3 year
bonds since the beginning of 2008.

Our main long term investment portfolio is comprised of approximately 60% provincial bonds,
33% Canadian bank bonds and 7% Other government (MFA) bonds. This portfolio has an
average term of 2.4 years with an average return of 4.46%. The main portfolio comprises
$127.4 million (at cost) which represents 41% of our total investments at April 30, 2008. The
cultural reserve makes up the other one percent with $2.5 million invested (at cost) and has an
average tern of 3.6 years with an average return of 4.51%.


              GOVERNMENT OF CANADA 1 TO 3 YR BONDS (BK OF CANADA)
                                                                                   Jan /08 Approx yield
                                                                                   3.70%




                                                                                          April 30/08 Approx
                                                                                          yield 2.75%




A complete listing of the investments in each of our long term portfolios can be found on
Schedules 2 (Main Long Term) and Schedule 3 (Cultural Reserve) following this report.

                                                  FIN-89
Finance Committee – June 12, 2008                                                       Page 4
Investment Position & Returns - January 1, 2008 to April 30, 2008



MFA:

In addition to the above noted short and long term investments that we actively manage, our
investments also include those held on our behalf by the Municipal Finance Authority.

At December 31, 2007 the MFA held $423.3 million in sinking fund investments for GVWD,
GVS&DD and GVRD debt retirement. These investments are invested to earn returns such that
the investment plus the income earned is sufficient to meet our future debt retirement
obligations. The sinking fund balances are updated at year-end for financial statement
purposes.


3. ALTERNATIVES

N/A

4. CONCLUSION

Overall, short and long term investment performance for the period was acceptable. Our
investment portfolios maintain only quality investments and are favorably positioned given our
market expectations.



GN/eb
Attachments

Doc. #004623428




                                                  FIN-90
GREATER VANCOUVER DISTRICTS                                                              Schedule 1

SHORT TERM INVESTMENTS
LISTING BY ORGANIZATION UNIT                Apr 30, 08

CONTROL         MATURITY        COST        PURCHASE     MATURITY   DAYS O/S    YIELD   DESCRIPTION
NUMBER          AMOUNT                        DATE         DATE   TO MATURITY     %

REGIONAL REVENUE (FUND 11)

BANK OF MONTREAL
800047         3,500,000        3,481,310   Mar 11, 08   May 5, 08     5        3.56         BA
700116         5,000,000        5,000,000   May 14, 07   May 12, 08   12        3.92      Floating
800052        10,000,000        9,924,900   Mar 25, 08   Jun 11, 08   42        3.54        BDN
800071         5,000,000        4,964,450   Apr 23, 08   Jul 15, 08   76        3.15         BA
              23,500,000       23,370,660

BANK OF NOVA SCOTIA
800034          9,000,000       8,913,510   Feb 15, 08   May 16, 08   16        3.89       BDN
800066          5,000,000       4,955,200   Apr 16, 08   Jul 18, 08   79        3.55       BDN
800070         10,000,000       9,919,600   Apr 23, 08   Jul 25, 08   86        3.18       BDN
800079          5,000,000       4,960,450   Apr 30, 08   Jul 30, 08   91        3.20       BDN
               29,000,000      28,748,760

CANADIAN IMPERIAL BANK OF COMMERCE
800031          5,000,000   4,952,450       Feb 11, 08   May 12, 08   12        3.85        BA
800039          1,700,000   1,685,737       Feb 25, 08   May 15, 08   15        3.86        BA
800038          3,800,000   3,767,738       Feb 25, 08   May 16, 08   16        3.86        BA
800068          4,300,000   4,285,165       Apr 17, 08   May 23, 08   23        3.51        BA
800050          1,000,000     993,160       Mar 24, 08   Jun 3, 08    34        3.54        BA
800072         10,000,000   9,929,700       Apr 23, 08   Jul 14, 08   75        3.15        BA
               25,800,000  25,613,950

COAST CAPITAL CREDIT UNION
800036          2,500,000       2,500,000   Feb 22, 08   May 23, 08   23        4.10      TermDep
800040          3,000,000       3,000,000   Feb 29, 08   May 30, 08   30        3.96      TermDep
800053          7,000,000       7,000,000   Mar 25, 08   Jun 27, 08   58        3.75      TermDep
800049          5,000,000       5,000,000   Mar 19, 08   Jun 27, 08   58        3.74      TermDep
800076          4,000,000       4,000,000   Apr 24, 08   Jul 25, 08   86        3.38      TermDep
               21,500,000      21,500,000

HSBC BANK CANADA
800044         5,000,000        4,969,300   Mar 10, 08   May 12, 08   12        3.58        BA
800037         5,000,000        4,953,550   Feb 22, 08   May 20, 08   20        3.89        BA
800048         5,000,000        4,955,200   Mar 19, 08   Jun 20, 08   51        3.55       BDN
800073         5,000,000        4,972,300   Apr 23, 08   Jun 26, 08   57        3.18       BDN
800057         4,000,000        3,964,600   Mar 31, 08   Jun 30, 08   61        3.58        BA
800061         3,000,000        2,972,610   Apr 11, 08   Jul 15, 08   76        3.54       BDN
800078         5,000,000        4,960,000   Apr 30, 08   Jul 31, 08   92        3.20       BDN
              32,000,000       31,747,560

NATIONAL BANK OF CANADA
800045          5,000,000       4,970,850   Mar 10, 08   May 9, 08     9        3.57        BA
800067         10,000,000       9,914,700   Apr 17, 08   Jul 16, 08   77        3.49        BA
800069          5,000,000       4,961,400   Apr 23, 08   Jul 21, 08   82        3.19        BA
               20,000,000      19,846,950

ROYAL BANK OF CANADA
800041          7,000,000       6,957,580   Mar 3, 08    May 2, 08     2        3.71        BA
800042          3,000,000       2,973,090   Mar 4, 08    Jun 4, 08    35        3.59       BDN
800051          9,000,000       8,919,990   Mar 24, 08   Jun 25, 08   56        3.52       BDN
800062          3,000,000       2,973,960   Apr 14, 08   Jul 14, 08   75        3.51        BA
               22,000,000      21,824,620

TORONTO DOMINION BANK
800046         5,300,000        5,267,988   Mar 10, 08   May 12, 08   12        3.52        BA

                179,100,000   177,920,488

AVERAGE TERM                           49 DAYS
AVERAGE YIELD                      3.42%

                                                    FIN-91
GREATER VANCOUVER DISTRICTS                                                                        Schedule 2

LONG TERM INVESTMENTS
LISTING BY ORGANIZATION UNIT              -        April 30, 2008

     CONTROL           MATURITY         COST       PURCHASE         MATURITY   DAYS O/S    YIELD    COUPON      DESCRIPTION
     NUMBER            AMOUNT                        DATE             DATE   TO MATURITY     %       RATE

REGIONAL LONG TERM POOL INVESTMENTS

PROVINCE OF ALBERTA
      700254           10,000,000     10,074,500     Nov 2, 07      Dec 16, 08   230       4.30       5.00         Bond

  PROVINCE OF BC
      600285           5,000,000       5,187,650    Aug 22, 06      Jun 1, 09     397      4.25       5.70         Bond
      600258           3,000,000       3,110,400    Aug 15, 06      Jun 1, 09     397      4.28       5.70         Bond
      600259           3,000,000       3,194,820    Aug 15, 06       Jan 9, 12   1,349     4.38       5.75         Bond
      600398           5,000,000       6,257,500    Dec 21, 06      Aug 23, 13   1,941     4.14       8.50         Bond
      600319           3,000,000       3,765,150    Sep 22, 06      Aug 23, 13   1,941     4.21       8.50         Bond
                       19,000,000     21,515,520

BANK OF MONTREAL
      600264           1,500,000      1,506,645     Aug 16, 06      Mar 31, 09    335      4.47       4.66         Bond
      600106           2,000,000      2,013,820     Apr 19, 06      Mar 31, 09    335      4.44       4.66         Bond
      600265           1,500,000      1,492,170     Aug 16, 06      Sep 4, 09     492      4.48       4.30         Bond
      800074           1,400,000      1,410,500     Apr 28, 08      Sep 4, 12    1,588     4.84       5.04         Bond
                       6,400,000      6,423,135

BANK OF NOVA SCOTIA
     300353L2           100,000         99,900      Dec 16, 03      Aug 22, 08    114      4.32       4.30         Bond
     300353L3           100,000         99,900      Dec 16, 03      Aug 22, 08    114      4.32       4.30         Bond
      600105            500,000        499,500      Apr 19, 06      Aug 22, 08    114      4.35       4.30         Bond
      600283           2,000,000      1,963,220     Aug 21, 06      Sep 2, 08     125      4.42       3.47         Bond
      600263           2,000,000      2,001,700     Aug 16, 06      Nov 19, 08    203      4.46       4.52         Bond
      800059           3,000,000      2,974,890      Apr 8, 08      Mar 27, 13   1,792     5.18       4.99         Bond
                       7,700,000      7,639,110

CANADIAN IMPERIAL BANK OF COMMERCE
      600042           1,396,880      1,401,001     Feb 17, 06      Aug 26, 08    118      4.27       4.40         Bond
      600043            976,603        979,484      Feb 17, 06      Aug 26, 08    118      4.27       4.40         Bond
      600044            626,516        628,365      Feb 17, 06      Aug 26, 08    118      4.27       4.40         Bond
      600289           2,000,000      2,002,480     Aug 24, 06      Aug 26, 08    118      4.34       4.40         Bond
      800063           2,000,000      2,019,980     Apr 17, 08      Sep 2, 10     855      4.49       4.95         Bond
      800060           2,000,000      1,994,820      Apr 8, 08      Sep 10, 12   1,594     5.06       5.00         Bond
                       9,000,000      9,026,130

HSBC BANK CANADA
      600282           2,000,000      1,964,400     Aug 21, 06      Sep 2, 08    125       4.42       3.50         Bond
      700117           1,000,000      1,000,000     May 17, 07      May 22, 09   387       3.97       0.00        Floating

PROVINCE OF MANITOBA
      700252           6,000,000      6,006,720     Nov 2, 07       Dec 1, 08     215      4.33       4.45         Bond
      600261           3,000,000      3,163,650     Aug 15, 06      Sep 1, 09     489      4.31       6.25         Bond
      600399           3,000,000      3,739,500     Dec 21, 06      Jul 22, 13   1,909     4.17       8.50         Bond


MUNICIPAL FINANCE AUTHORITY OF BC
      300242L2           75,000         74,820       Oct 3, 03      Oct 3, 09     521      4.29       4.25         Bond
      300243L2           75,000         74,798       Oct 3, 03      Oct 3, 10     886      4.54       4.50         Bond
       500023r          300,000        329,700      Jan 28, 05      Jun 1, 11    1,127     4.11       5.90         Bond
       600330          3,000,000      3,189,000     Oct 10, 06      Dec 3, 12    1,678     4.08       5.25         Bond
       600318          3,000,000      3,126,450     Sep 22, 06      Dec 3, 13    2,043     4.21       4.90         Bond
       600406          2,000,000      2,082,600     Jan 2, 07       Dec 2, 14    2,407     4.28       4.90         Bond


NATIONAL BANK OF CANADA
      700232          3,000,000       2,978,010      Oct 5, 07      Sep 10, 09   498       5.07       4.66         Bond


PROVINCE OF NEW BRUNSWICK
     200233L2         100,000           99,810      Sep 18, 03      Dec 2, 08    216       4.29       4.25         Bond
     200233L3         800,000          798,480      Sep 18, 03      Dec 2, 08    216       4.29       4.25         Bond
      500103         5,000,000        5,000,000     Apr 29, 05      May 1, 09    366       3.26       0.00        Floating
     400104L1          50,000           49,622      Jun 10, 04      Dec 2, 09    581       4.66       4.50         Bond



                                                          FIN-92
GREATER VANCOUVER DISTRICTS                                                                       Schedule 2
                                                                                                    (cont'd)
LONG TERM INVESTMENTS
LISTING BY ORGANIZATION UNIT             -        April 30, 2008

     CONTROL           MATURITY        COST       PURCHASE         MATURITY   DAYS O/S    YIELD    COUPON      DESCRIPTION
     NUMBER            AMOUNT                       DATE             DATE   TO MATURITY     %       RATE

REGIONAL LONG TERM POOL INVESTMENTS (Continued)

PROVINCE OF ONTARIO
      700253           5,000,000     5,070,300     Nov 2, 07       Dec 1, 08     215      4.34       5.70         Bond
      500022            200,000       202,960      Jan 26, 05      May 19, 09    384      3.66       4.00         Bond
      600286           5,000,000     4,950,650     Aug 22, 06      May 19, 10    749      4.28       4.00         Bond
      600260           3,000,000     3,240,000     Aug 15, 06      Dec 2, 11    1,311     4.39       6.10         Bond
      600252            750,000       749,288      Aug 10, 06      Dec 2, 11    1,311     4.42       4.40         Bond
      600253           2,250,000     2,247,975     Aug 10, 06      Dec 2, 11    1,311     4.42       4.40         Bond


PROVINCE OF QUEBEC
      600382            800,000       827,728       Dec 4, 06      Jun 1, 09    397       4.03       5.50         Bond
      600131            150,000       154,680       May 3, 06      Jun 1, 09    397       4.41       5.50         Bond
      600132            125,000       128,900       May 3, 06      Jun 1, 09    397       4.41       5.50         Bond
      600133             75,000        77,340       May 3, 06      Jun 1, 09    397       4.41       5.50         Bond
      600134            500,000       515,600       May 3, 06      Jun 1, 09    397       4.41       5.50         Bond
      600135             75,000        77,340       May 3, 06      Jun 1, 09    397       4.41       5.50         Bond
      600136            100,000       103,120       May 3, 06      Jun 1, 09    397       4.41       5.50         Bond
      600138            200,000       206,240       May 3, 06      Jun 1, 09    397       4.41       5.50         Bond
      600139            675,000       696,060       May 3, 06      Jun 1, 09    397       4.41       5.50         Bond
      600140           1,000,000     1,031,200      May 3, 06      Jun 1, 09    397       4.41       5.50         Bond
      700250           6,000,000     6,102,000      Nov 2, 07      Jun 1, 09    397       4.37       5.50         Bond


ROYAL BANK OF CANADA
      600296           3,000,000     3,064,560     Aug 30, 06       Jul 6, 11   1,162     4.42       4.92         Bond
      700242           1,000,000      974,100      Oct 19, 07      May 7, 12    1,468     5.17       4.53         Bond
      800064           2,000,000     1,985,300     Apr 17, 08      Mar 11, 13   1,776     5.01       4.84         Bond
      800065           3,000,000     2,962,500     Apr 18, 08      Mar 11, 13   1,776     5.13       4.84         Bond


TORONTO DOMINION BANK
      700264          3,750,000      3,750,000     Nov 19, 07      Nov 19, 12   1,664     5.14       5.14         Bond
                    123,150,000     127,473,795


  AVERAGE TERM           2.44         year(s)
  AVERAGE YIELD          4.46           %




                                                         FIN-93
GREATER VANCOUVER DISTRICTS                                                                             Schedule 3

LONG TERM INVESTMENTS
LISTING BY ORGANIZATION UNIT             -            April 30, 2008

 CONTROL             MAT.               COST          PURCHASE         MATURITY     DAYS TO    YIELD     CPN         DESC.
 NUMBER              AMT                                DATE             DATE       MATURITY     %       RATE

CULTURAL GRANTS (OTHER AGEN.) (5150)

BANK OF MONTREAL
800075                       100,000     100,750       Apr 28, 08      Sep 4, 12     1,588       4.84    5.04        Bond

BANK OF NOVA SCOTIA
300353L                      100,000         99,900    Dec 16, 03      Aug 22, 08     114        4.32    4.30        Bond

GOVERNMENT OF CANADA
500004                       100,000     104,795       Jan 13, 05      Jun 1, 14     2,223       4.40    5.00        Bond

MUNICIPAL FINANCE AUTHORITY OF BC
300242L1                  25,000             24,940     Oct 3, 03      Oct 3, 09      521        4.29    4.25        Bond
300243L1                  25,000             24,933     Oct 3, 03      Oct 3, 10      886        4.54    4.50        Bond
                          50,000             49,873

PROVINCE OF NEW BRUNSWICK
200233L1                100,000           99,810       Sep 18, 03      Dec 2, 08      216        4.29    4.25        Bond
400104L2                150,000          148,868       Jun 10, 04      Dec 2, 09      581        4.66    4.50        Bond
400111L                 200,000          196,840       Jun 17, 04      Dec 2, 09      581        4.82    4.50        Bond
                        450,000          445,518

PROVINCE OF ONTARIO
400069L                      100,000      99,380       Apr 20, 04      May 19, 09     384        4.12    4.00        Bond
500021                       100,000     101,480       Jan 26, 05      May 19, 09     384        3.63    4.00        Bond
500134L                      500,000     507,500       Jun 2, 05       Mar 8, 15     2,503       4.31    4.50        Bond
                             700,000     708,360

PROVINCE OF QUEBEC
600137                       100,000     103,120        May 3, 06      Jun 1, 09      397        4.41    5.50        Bond
600381                       200,000     206,932        Dec 4, 06      Jun 1, 09      397        4.03    5.50        Bond
                             300,000     310,052
TORONTO DOMINION BANK
800032                        720,000     723,550      Feb 13, 08      Feb 13, 13    1,750       4.73    4.85        Bond
                            2,520,000   2,542,797


AVERAGE TERM                                                   3.66     year(s)
AVERAGE YIELD                                                  4.51       %




                                                           FIN-94
                                                                                             5.7



                                               Finance Committee Meeting Date: June 12, 2008

To:        Finance Committee

From:      Tracey Husoy, Purchasing & Risk Manager

Date:      May 23, 2008

Subject: Tender/Contract Award Information – March and April 2008

Recommendation:
That the Finance Committee receive the report titled “Tender/Contract Award Information –
March and April 2008” dated May 23, 2008 for information.

1.      PURPOSE

To provide the Finance Committee information with regard to contracts valued at or estimated at
more than $250,000.00.

2.      CONTEXT

Information pertaining to the award of contracts and standing offer agreements valued at more
than $250,000.00 is reported to the Committee monthly.

The following contracts were awarded during the months of March and April 2008:
(Details attached as APPENDIX A)

1.      Golder Associates Ltd.                        $276,248.00   O & M Dept.
                                                                    (GVS&DD)
Provision for Lions Gate Wastewater Treatment Plant Outfall 2008 Receiving Environmental
Monitoring, Sediment Effects Survey.

2.      B. Cusano Contracting Inc.                    $6,547,448.00       E & C Dept.
                                                                          (GVWD)
Installation of Douglas Road Main No. 2 – Phase 2, Canada Way South Section.

3.      Great West Equipment                          $437,213.00             E & C Dept.
                                                                              (GVS&DD)
Supply and Delivery of One (1) New Wheel Loader – Cache Creek Landfill.

4.      SYLVIS Environmental                         $3,138,187.00             P & P Dept.
                                                     (over 3 years)            (GVS&DD)
Provision of Biosolids Management of Landfill Reclamation for a 3 year period.

5.      Concord Excavating & Contracting Ltd.         $287,595.00    P & P and O & M
                                                                      Dept. (GVS&DD)
Supply of Earth Moving Equipment with Operators for Iona Island Wastewater Treatment Plant
Sludge Lagoon Cleaning and Land Drying.




                                             FIN-95
Finance Committee – June 12, 2008                                                             Page 2
Tender/Contract Award Information – March and April 2008

6.      Open Text Corporation                              $804,500.00   Corporate     Services
                                                           (over 5 years)Dept. – IT Division
                                                                         (GVRD)
Provision of a Document and Records Management System for a 5 year period.




The following previously reported contracts were amended during the months of March and
April 2008:
(Details attached as APPENDIX C)

                              Original or
                              Previously            Value of          Total Amended
                              Amended Value         Amendment         Value of Contract   Amendment Type

1.    Hodgson King &         $291,292.24         $34,544.23         $325,836.47           Additional Work
      Marble Ltd.
To cover additional parts, equipment and labour required to facilitate the upgrades of security gates at the
various sites for the Watershed Security Gates.

2.   SSBV Consultants        $22,532,494.11       $1,993,867.00 $24,526,361.11          Additional Work
     Inc.
To cover changes to the scope of the detailed design work together with preparation of record drawings as
contemplated in the original RFP for the Detailed Design of the Seymour-Capilano Filtration Plant.

3.   Tri-Arrow Industrial  $1,751,353.60         $444,675.00     $2,196,028.60      Contract Extension
     Recovery
To cover a four months extension to the Hauling and Disposal of Non Recyclable Wastewater Treatment
Residuals contract.

     Insituform               $295,542.30           $50,998.50       $346,540.80        Additional Work
4.   Technologies Ltd.
To cover additional rehabilitation work for the section of trunk sewer between MH79 and MH80.

Attachments:

APPENDIX A:           Detailed information with regard to newly awarded contracts

APPENDIX B:           Contracts amended to a value of more than $250,000 but not previously
                      reported to the Finance Committee
                      (Nothing to report)

APPENDIX C:           Contracts amended in value in accordance with Contracting Procedure No. 9
                      – Contract Amendments and previously reported to the Finance Committee

APPENDIX D:           List of tenders and proposals received but not awarded
                      (presently being reviewed)

APPENDIX E:           List of current open tender/proposal calls for contracts anticipated to be
                      valued at greater than $250,000




                                                FIN-96
                                                                               APPENDIX A
                                                                                Page No. 1
                                  AWARD OF CONTRACT

                                      RFP NO. 08-027


1.   A contract was awarded March 17, 2008 for the Operations and Maintenance
     Department (GVS&DD)

     To: Golder Associates Ltd.

     in the amount of $276,248.57 for Lions Gate Wastewater Treatment Plant Outfall 2008
     Receiving Environmental Monitoring, Sediment Effects Survey

     Original estimate was $252,000. Costs can be accommodated in the project budget.

2.   Proposals were requested by GVRD and BC BID web sites, and private invitation on
     February 19, 2008

     Closing Date: March 6, 2008

3.   Proposals received:

     Golder Associates Ltd.                         $276,248.57
     Nautilus Environmental                                $285,724.95

4.   Proposals reviewed by:

     Contractual:   Purchasing Division Staff

     Technical:     Operations and Maintenance Department Staff

5.   Award made to the highest ranked lowest cost proponent.




                                           FIN-97
                                                                               APPENDIX A
                                                                                Page No. 2
                                  AWARD OF CONTRACT

                                    TENDER NO. 08-010


1.   A contract was awarded March 18, 2008 for the Engineering and Construction
     Department (GVWD)

     To: B. Cusano Contracting Inc.

     in the amount of $6,547,448.25 for Installation of Douglas Road Main No. 2 – Phase 2,
     Canada Way South Section

     Original estimate was $6.7 Million

2.   On February 28, 2008 responses were received from five firms who, as a result of RFQ No.
     07-085, had previously been short listed to bid on ITT No. 08-010

3.   Tenders received:

     B. Cusano Contracting Inc.                     $6,547,448.25
     Pedre Contractors                              $6,834,110.64
     Sandpiper Contracting                          $7,181,549.34
     Westpro Constructors                           $8,174,533.50
     Tyam Construction                              $8,422,517.09

4.   Tenders reviewed by:

     Contractual:   Purchasing Division Staff

     Technical:     Engineering and Construction Department Staff

5.   Award made to the lowest responsive bidder.




                                           FIN-98
                                                                                 APPENDIX A
                                                                                  Page No. 3
                                 AWARD OF CONTRACT

                                   TENDER NO. 08-026


1.   A contract was awarded March 20, 2008 for the Engineering and Construction
     Department (GVS&DD)

     To: Great West Equipment

     in the amount of $437,213.28* for Supply and Delivery of One (1) New Wheel Loader –
     Cache Creek Landfill

     Original estimate was $700,000.00

2.   Tenders were invited by GVRD and BC BID web sites, and private invitation on
     February 14, 2008

     Closing Date: February 28, 2008

3.   Tenders received:

     Great West Equipment                           $431,164.00
     Douglas Lake Equipment                                $492,785.06
     Coneco Equipment                                      $527,363.20
     Brandt Tractor                                        $563,119.20

4.   Tenders reviewed by:

     Contractual:   Purchasing Division Staff

     Technical:     Engineering and Construction Department Staff

5.   Award made to the lowest responsive bidder based on equipment price and life cycle cost.

     *Award includes Optional Item 1 – Command Control Steering.




                                           FIN-99
                                                                                 APPENDIX A
                                                                                  Page No. 4
                                     AWARD OF CONTRACT

                              NOTICE OF INTENT NO. CG031708


1.   A contract was awarded April 17, 2008 for the Policy and Planning Department
     (GVS&DD)

     To: SYLVIS Environmental

     in the estimated amount of $3,138,187.50, over a 3 year period, for Biosolids Management
     in Landfill Reclamation

     This is a unit rate contract.

2.   The Residuals Management Division requires professional services for the provision of
     biosolids management at Ecowaste Landfill for reclamation purposes for a three year
     period.

     No qualified contractors, other than SYLVIS Environmental, were known to the
     Corporation therefore a Notice of Intent to Contract with SYLVIS was posted on GVRD
     and BC BID web sites on March 17, 2008.

3.   Since no objections were received during the publication period, a contract was awarded to
     SYLVIS Environmental.

4.   Proposal submitted by SYLVIS was reviewed by:

     Contractual:    Purchasing Division Staff

     Technical:      Policy and Planning Department Staff




                                           FIN-100
                                                                                APPENDIX A
                                                                                 Page No. 5
                                 AWARD OF CONTRACT

                                    TENDER NO. 08-041


1.   A contract was awarded April 23, 2008 for the Policy and Planning and Operations and
     Maintenance Department (GVS&DD)

     To: Concord Excavating & Contracting Ltd.

     in the amount of $287,595.00 for Supply of Earth Moving Equipment with Operators for Iona
     Island Wastewater Treatment Plant Sludge Lagoon Cleaning and Land Drying

     Original estimate was $294,000.00

2.   Tenders were invited by GVRD and BC BID web sites, and private invitation on
     March 17, 2008

     Closing Date: April 10, 2008

3.   Tenders received:

     Concord Excavating & Contracting Ltd.              $287,595.00
     J. Dewitt Enterprises                              $338,520.00
     G.R. Edwards Trucking                              $348,143.25
     Delta Aggregates                                   $352,349.45
     Mission Contracting                                $356,432.37
     Hexcel Construction                                $386,311.80
     XS West Construction                               $393,051.12
     Hazco Environmental                                $455,109.00
     Blackburn Trucking                                 $607,425.00

4.   Tenders reviewed by:

     Contractual:   Purchasing Division Staff

     Technical:     Policy and Planning and Operations and Maintenance Department Staff

5.   Award made to the lowest responsive bidder.




                                          FIN-101
                                                                                   APPENDIX A
                                                                                    Page No. 6
                                  AWARD OF CONTRACT

                                      RFP NO. 08-005


1.   A contract was awarded April 25, 2008 for the Corporate Services Department - IT
     Division (GVRD)

     To: Open Text Corporation

     in the total anticipated amount of $804,500.00 for the Supply, Delivery, Implementation and
     Maintenance of a Document and Records Management System over a 5 year period

     A contract for the supply, delivery, implementation, maintenance/support, training
     and consulting services was awarded in the amount of $585,646.94. In addition
     maintenance and support services will be added to the contract every year up to a 5
     year period.

2.   Proposals were requested by GVRD and BC BID web sites, and private invitation on
     January 10, 2008

     Closing Date: January 29, 2008

3.   Proposals received:

                                                  Anticipated Value over 5 Years


     Open Text Corporation                                $804,500.00
     Tower Software                                       $983,960.00
     RKO Business Solutions                               $998,775.00

4.   Proposals reviewed by:

     Contractual:   Purchasing Division Staff

     Technical:     Corporate Services Department – IT Division Staff

5.   Award made to the highest ranked lowest cost proponent.




                                          FIN-102
                                                                                APPENDIX C
                                                                                  Page No. 1


                 AMENDMENT TO A PREVIOUSLY REPORTED CONTRACT

                                  TENDER NO. 07-048
                              PURCHASE ORDER NO. 098139

                      Supply and Installation of Watershed Security Gates
                     for the Operations and Maintenance Department
                                            and the
                    Corporate Services Department (GVWD and GVRD)


1. Name of Contractor:                            Hodgson King & Marble Ltd.

2. Date Contract Reported:                        July 2007

3. Original Reported Value of Contract:           $291,292.24

4. Amendment Number:                              01

5. Value of Amendment:                            $34,544.23

6. Amendment Type:                         Additional Work

7. Total Amended Value of Contract:               $325,836.47

8. Budget Status:

   The total approved budget for this project is $500,000. The current commitments and
   expenditures to date are $325,836.47 and the estimated cost at completion is $500,000.

9. Reason for Amendment to Contract:

   The amendment covers additional parts, equipment and labour required to facilitate the
   upgrades of security gates at the various sites.




                                          FIN-103
                                                                                APPENDIX C
                                                                                  Page No. 2

                    AMENDMENT TO A PREVIOUSLY REPORTED CONTRACT

                             RFP NO. 02-108 STAGE II/CSA NO. 003
                               PURCHASE ORDER NO. 075499

                       Detailed Design of Seymour-Capilano Filtration Plant
                 for the Engineering and Construction Department (GVWD)

1. Name of Contractor:                            SSBV Consultants Inc.

2. Date Contract Reported:                        February 2003

3. Original Reported Value of Contract:           $9,050,532.00

4. Amendment Numbers:                             14 and 15

5. Value of Amendments:                           14     $1,011,823.00
                                                  15      $982,044.00

6. Amendment Type:                                Additional Work

7. Total Amended Value of Contract:        $24,526,361.11
                                                 (includes value of previously reported
                                                 Amendment Nos. 01 to 13 in the
                                                 amount of $13,481,962.11)

8. Previous Amendments Explanation: (Reported to Finance Committee October 2003,
   February and May 2004, March 2005 and September 2006 and February and October
   2007)

  Amendment Nos. 01 through 13 covered change orders related to the provision of resident
  engineering/construction field services and post design engineering services as
  contemplated in the original RFP together with various engineering design changes and
  requirements added to the scope of the assignment and additional engineering field services
  to reflect the current construction program.

9. Budget Status:

  The total estimated cost of the Seymour-Capilano Filtration Project at completion is
  $582.1 Million. This compares with the budget of $600 Million adopted by the Board in
  April 2003.

10. Reason for Amendments to Contract:

  To cover changes to the scope of the detailed design work together with preparation of
  record drawings as contemplated in the original RFP.




                                          FIN-104
                                                                                    APPENDIX C
                                                                                      Page No. 3


                 AMENDMENT TO A PREVIOUSLY REPORTED CONTRACT

                                    RFP NO. 06-008
                               PURCHASE ORDER NO. 091448

                                Hauling and Disposal Services
                        Non Recyclable Wastewater Treatment Residuals
                for the Operations and Maintenance Department (GVS&DD)


1. Name of Contractor:                              Tri-Arrow Industrial Recovery

2. Date Contract Reported:                          April 2006

3. Original Reported Value of Contract:             $1,751,353.60
   (Estimated amount for a 2 year term)

4. Amendment Number:                                01

5. Value of Amendment:                              $444,675.00

6. Amendment Type:                          Contract Extension

7. Total Amended Value of Contract:                 $2,196,028.60
   (Estimated amount)

8. Budget Status:

   This is a multi year contract funded within the operating budget for this program.

9. Reason for Amendment to Contract:

   The term of this contract was from March 1, 2006 to February 29, 2008. The amendment
   covers an extension of the contract to June 30, 2008.

   Proposals have been evaluated and an award is anticipated in June 2008.




                                            FIN-105
                                                                                 APPENDIX C
                                                                                   Page No. 4


                 AMENDMENT TO A PREVIOUSLY REPORTED CONTRACT

                                  TENDER NO. 07-146
                              PURCHASE ORDER NO. 101758

                               Repair of Ocean Park Trunk Sewer
                         16th Avenue Section Between MH76 and MH83
               for the Engineering and Construction Department (GVS&DD)


1. Name of Contractor:                            Insituform Technologies Ltd.

2. Date Contract Reported:                        February 2008

3. Original Reported Value of Contract:           $295,542.30

4. Amendment Number:                              01

5. Value of Amendment:                            $50,998.50

6. Amendment Type:                         Additional Work

7. Total Amended Value of Contract:               $346,540.80

8. Budget Status:

   The total approved budget for this project is $750,000. The current commitments and
   expenditures to date are $357,000 and the estimated cost at completion is $750,000.00

9. Reason for Amendment to Contract:

   This amendment covers additional rehabilitation work for the section of trunk sewer between
   MH79 and MH80.




                                          FIN-106
                                                                                   APPENDIX D
                                                                             As at May 23, 2008

                       Tenders/Proposals Received But Not Awarded
                               (Presently Being Reviewed)

Tender/RFP                                                Date Closed             Estimated Value


RFP No. 08-006                                            February 5, 2008        $300,000.00
Supply and Delivery of Two (2) Screenings Grinder,
Separation, Washer and Dewatering/Compacting Systems –
Northwest Langley Wastewater Treatment Plant
(Awarded at less than $250,000.00)

RFQ NO. 08-017                                            February 26, 2008       $6 Million
Request for Pre-Qualification
Construction of 25th Avenue Main Replacement – Phase 1
and 2
(Pre-qualified 5 Construction Contractors)

RFP No. 08-011                                            March 25, 2008          $295,000.00
Professional Consulting Services for Corporate Employee
and Family Assistance Program (EFAP)

RFP No. 08-024                                            April 10, 2008          $3.9 Million
Iona Island Wastewater Treatment Plant (IIWWTP) Project
Definition

ITT No. 08-002                                            May 1, 2008             $1.5 Million
Supply and Delivery of Shop Fabricated Large Diameter
Steel Mitres, Fittings and Chamber Piping – Boundary
Road Main No. 5 – Phases 3 West and 3 East

RFP No. 08-031                                            May 6, 2008             $290,000.00
Consulting Engineering Services Related to the Seismic
Assessment of the Haney Mains Nos. 2 and 3 – Coquitlam
River Crossing

RFP No. 08-045                                            May 6, 2008             $7.5 Million
Machine Shop and Mechanical Service                                               (over 5 years)

ITT No. 08-036                                            May 15, 2008            $4.2 Million
25th Avenue Main Replacement Between Cambie Street
and Carolina Street




                                           FIN-107
                                                                                 APPENDIX E
                                                                           As at May 23, 2008

                           Current Open Tender/Proposal Calls
                                            for
                Contracts Anticipated to be Valued at Greater than $250,000


Tender/RFP                                                  Closing Date       Estimated Value


ITT No. 08-003                                              May 29, 2008       $8.1 Million
Installation of Boundary Road Main No. 5 – Phase 3 – West

RFP No. 08-044                                              May 29, 2008       $960,000.00
Biosolids Field Management Services – Highland Valley                          (over 4 years)
Copper Mine

RFP No. 08-035                                              June 5, 2008       $1 Million
Enterprise Asset Management System




                                           FIN-108
          6.1




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