CEPCO Financial Statements
CHILLIWACK ECONOMIC PARTNERS CORPORATION
Statement of Change in Net Financial Assets (Debt)
Year ended December 31, 2013, with comparative information for 2012
2013
2013
2012
Budget
Actual
Actual
Annual surplus (deficit)
$ (199,200) $ 1,499,989 $ 2,222,283
Acquisition of tangible capital assets
(3,000)
(3,207)
(31,867)
Amortization of tangible capital assets
130,100
131,040
161,960
Gain on sale of properties
-
(2,443,348)
(2,795,528)
Proceeds on sale of properties
1,300,000
4,017,754
4,725,363
Decrease (increase) in property under
development
(20,000)
79,603
(201,060)
Impairment of property
-
-
203,900
Change in prepaid expenses
-
2,320
13,542
1,407,100
1,784,162
2,076,310
Change in net financial assets
1,207,900
3,284,151
4,298,593
Net financial assets (debt), beginning of year
2,240,882
2,240,882
(2,057,711)
Net financial assets, end of year
$ 3,448,782 $ 5,525,033 $ 2,240,882
See accompanying notes to financial statements.
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