The City of Calgary Responds to Requirements With VFA Canada's Capital Planning and Asset Management Solution

BURNABY, BC, Jul 06 (MARKET WIRE) --
VFA Canada Corporation, the leading Canadian provider of solutions for
facilities capital planning and asset management, today announced that
The City of Calgary, the largest city in Alberta and the fifth largest
city in Canada, is using VFA.facility(R) to manage more than 1.3 million
square feet of facilities. A market leader for other cities of its size,
The City of Calgary uses VFA's solutions to meet Public Sector Accounting
Board (PSAB) 3150 requirements to better understand and track tangible
capital assets.

As of January 2009, PSAB 3150, a new accounting standard approved by the
Canadian Institute of Chartered Accountants, requires all Canadian
municipalities to comply with and report on their tangible capital assets.
In order to meet this requirement, The City of Calgary implemented
VFA.facility, VFA's award-winning capital planning and asset management
solution, as a central repository for facility data to manage its capital
assets. As a result, the City was able to create an inventory of tangible
capital assets, assign values and estimate useful lives to these assets.
Additionally, the City was able to calculate opening balances and
accumulated depreciation for financial statement purposes.

"Complying with PSAB 3150 is considered to be the largest accounting
change ever to impact local governments and The City of Calgary is
working hard to make the transition. Corporate properties, along with the
Calgary police service, libraries, transit and roads, have utilized VFA
to accumulate current, relative data and export the data to our financial
systems," said Kelly Pratt, Manager of Facility Operations, Corporate
Properties and Buildings, The City of Calgary. "Working with VFA has
enabled us to collect and maintain accurate, consistent information about
the condition of our facilities and systems. VFA.facility has served not
only as a decision support application, but also as a database to manage
large amounts of information -- providing The City of Calgary with the
tools it needs to make optimal decisions about facility spending and
capital planning."

"VFA Canada recognizes that municipalities have a number of challenges
around compliance with PSAB 3150," said Susan Anson, General Manager, VFA
Canada. "By helping The City of Calgary to align its capital plans and
budgets with strategic priorities, build an effective case study for
funding, and prioritize competing requirements, we demonstrate our
commitment to meeting these challenges head-on."

About VFA Canada Corporation

Headquartered in Vancouver, British Columbia, VFA Canada Corporation is
the leading provider of end-to-end solutions for facilities capital
planning and asset management. VFA solutions uniquely combine facility
assessment services, Web-based software and business consulting
services to enable customers to manage every stage of the capital asset
lifecycle -- from requirements gathering and long-term planning to
capital budget creation and spend management. Over 400 organizations in
corporate, education, government and healthcare markets have relied on
VFA solutions to strategically manage their capital assets. VFA's
flagship software product, VFA.facility(R), is currently used to manage
more than 2 billion square feet of real estate. For more information,
please call 888-685-3757 or visit http://www.vfa.com/index_canada.htm.

Press Contacts:

Ellen Cliggott
VFA, Inc.
617-772-8221
ecliggott@vfa.com

Allison Bedard or Chris Poisson
Schwartz Communications
415-512-0770 or 781-684-0770
vfa@schwartz-pr.com

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