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CHILLIWACK ECONOMIC PARTNERS CORPORATION
Statement of Change in Net Financial Assets (Debt)
Year ended December 31, 2012, with comparative figures for 2011
2012
2012
2011
Budget
Actual
Actual
(Unaudited)
Annual surplus
$ 272,900 $ 2,222,283 $ 421,650
Acquisition of tangible capital assets
(3,000)
(31,867)
(126,443)
Amortization of tangible capital assets
200,000
161,960
208,206
Gain on sale of property
-
(2,795,528)
-
Proceeds on sale of property
-
4,725,363
-
Increase in property under development
(80,000)
(201,060)
(2,249,300)
Impairment of property
-
203,900
-
Change in prepaid expenses
-
13,542
2,548
117,000
2,076,310
(2,164,989)
Change in net financial assets (debt)
389,900
4,298,593
(1,743,339)
Net debt, beginning of year
(2,057,711)
(2,057,711)
(314,372)
Net financial assets (debt), end of year
$ (1,667,811) $ 2,240,882 $ (2,057,711)
See accompanying notes to financial statements.
cepco financial statements
64
city of chilliwack
| 2012 annual municipal report