The City of Vancouver has posted a comprehensive financial statement for 2015. The Statement of Financial Information (SOFI) includes a ‘sunshine list’ that reveals the salaries of employees who earned in excess of $75,000 last year.
The City spent a total of $473,342,037 on salaries last year. Remuneration figures for City Councillors and Park Board Commissioners are included in the report.
An even larger amount of the overall budget, $679,585,490 in total, was spent on suppliers. The report contains a breakdown of suppliers that billed the City for work in excess of $25,000. Other budget allocations on grants and BIA funding are also included. Sole source (no bid) contracts are listed in a separate document, the 2015 Annual Procurement Report.
The City’s balance sheet shows a total of $943 million in long-term debt. On the topic of pension liabilities, the report stated the following:
The most recent valuation for the Municipal Pension Plan as at December 31, 2012, indicated a $1.37 billion funding deficit for basic pension benefits on a going concern basis. The next valuation will be as at December 31, 2015, with results available in 2016.