28 09 2011

Source: West Vancouver Annual Reports for 2009 and 2010. As of 2008 a major accounting change affected capital expenses, but prior years were not restated. This had the effect of understating the base years (2005-2007) for the Ten Operating Divisions but overstating these years for Total Municipal Expenses. Had prior years been restated total expense increases would have been around 30-35% instead of the 25-45% as calculated from the Annual Report numbers. S&B’s were not affected.

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