Page 6 - Markham District Energy Year in Review 2014

Investment in Capital Assets
As of December 31, 2014...
• Capital investment totals $150.91 million (pre-depreciation)
• The City’s equity investment totals $38.41 million
• The City has directed $28.51 million of Federal Gas Tax Funding to MDE’s capital expansion (representing
74% of the City’s equity investment)
• MDE’s long-term debt financial totals $66.61 million with a variety of lenders including Infrastructure
Ontario, the Federation of Canadian Municipalities, Manulife, TD Bank, and the City of Markham
2014: From Revenues to Net Income1
Revenue: Fuel & Energy: $8.4 million1 $20.6 million1 Non-Fuel Expenses: $4.9 million1
Earnings from Operations:
$7.3 million1
Depreciation: $3.8 million1 Finance Costs: $3.2 million1
Net Income before Tax:
$0.3 million1
1 This data is excerpted from the Corporation’s financial statements for the year ended December 31, 2014. The financial statements were audited by KPMG LLP, who issued their opinion without reservation, dated May 25, 2015 which was the date on which the financial statements were approved by the Corporation’s Board of Directors. Some figures are rounded.