Town of Banff

Tangible Capital Assets

What is a tangible capital asset?

• Land
• Land improvements
• Buildings
• Engineered structures:
• Roadways
• Water system
• Wastewater system
• Storm system
• Machinery and equipment
• Vehicles
• Cultural and historical assets

What is the Town of Banff doing?

The Town has completed the recording and input of its Tangible Capital Assets (TCAs).  The historical cost, the replacement cost, and annual amortization expense for the major asset groups are summarized in the following table:

• 2008 Major Asset Analysis ( PDF - 47 kb)
  

Highlights of the asset analysis include:

• The 2008 Historical Cost of our TCAs is approximately $223 million.  The current replacement value is $535million (excluding land and cultural assets). 
• The annual Amortization Expense for the Town will be approximately $4.7 million in 2008. 
• The Book Value (remaining value) of our capital assets is approximately $145 million. 

Infrastructure Deficit

Infrastructure Deficit occurs when the amount a municipality has in its capital reserves is lower than the anticipated costs of future replacement of its capital assets. The calculations take inflation and projected interest rates on investments into consideration. Based on our current Infrastructure Deficit Analysis, the Town of Banff looks to be on a solid financial course to address its annual shortfall.

• Infrastructure Funding 2009 – 2012 ( PDF - xx kb)

Reducing Banff’s infrastructure deficit means that:

• The Town should allocate approximately $10.3M per year to capital budget reserves.
• Unless alternate revenue and government grants are received, Council will need to dedicate additional capital reserves to new capital projects like the pedestrian bridge, Bow Falls washrooms and the downtown parkade.
  

Want to learn more?

• Town of Banff Tangible Capital Assets Policy ( PDF - 345 kb)
• Capital Projects Interactive Map
  
• Meet our Finance Officer, Chris Hughes
• GIS in Banff
• Infrastructure Management in Banff
• E-mail: corporate.services@banff.ca
• Phone: 403.762.1210