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TOURISM CHILLIWACK INC.
Statement of Operations and Accumulated Surplus
Year ended December 31, 2012, with comparative figures for 2011
2012
2012
2011
Budget
Actual
Actual
(Unaudited)
Revenues:
Sales, rental and other income
$ 447,350 $ 513,943 $
89,203
Operating agreements
467,189
467,111
160,200
Hotel tax
142,000
148,839
143,023
Advertising revenues
142,806
140,003
131,370
Fundraising revenues
5,200
5,591
4,570
Interest income
5,000
5,538
8,307
1,209,545
1,281,025
536,673
Expenditures:
Staffing costs
537,510
527,917
231,990
Advertising and business development
251,350
204,403
149,146
Operations
148,200
156,318
47,375
Utilities
107,750
83,789
4,324
Administration
110,682
82,437
65,472
Amortization of tangible capital assets
27,061
23,855
20,907
1,182,553
1,078,719
519,214
Annual surplus before distribution
26,992
202,306
17,459
Distribution to City of Chilliwack (Note 11)
-
(125,643)
-
Annual surplus
26,992
76,663
17,459
Accumulated surplus, beginning of year
359,177
359,177
341,718
Accumulated surplus, end of year
$ 386,169 $ 435,840 $ 359,177
See accompanying notes to financial statements.
tourism chilliwack inc. financial statements
77
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