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City of Chilliwack
Consolidated Statement of Change in Net Financial Assets
Year Ended December 31, 2012 with comparative figures for 2011
2012
2012
2011
Actual
Budget
Actual
(Unaudited)
Annual surplus
17,722,791
$
21,929,129
$
16,339,145
$
Acquisition of tangible capital assets
(18,307,831)
(50,394,100)
(14,422,518)
Acquisition of property under development
(201,060)
(80,000)
(2,249,300)
Provision for impairment of property
203,900
-
-
Developer contributions
(4,263,315)
(8,769,500)
(12,818,302)
Amortization of tangible capital assets
17,664,792
14,727,000
17,241,653
Tangible Capital Assets tansferred to senior governments
-
-
488,499
(Gain) Loss on sale of tangible capital assets
(2,520,342)
-
967,290
Proceeds on sale of tangible capital assets
4,855,410
-
731,675
15,154,345
(22,587,471)
6,278,142
Change in inventories
(136,561)
-
(8,543)
Change in prepaid expenses
325,529
-
(49,168)
Change in net financial assets
15,343,313
(22,587,471)
6,220,431
Net financial assets, beginning of year
33,275,739
33,275,739
27,055,308
Net financial assets, end of year
48,619,052
$
10,688,268
$
33,275,739
$
See accompanying notes to consolidated financial statements
city of chilliwack financial statements
48
city of chilliwack
| 2012 annual municipal report