Tourism Chilliwack Inc. Financial Statements
TOURISM CHILLIWACK INC.
Statement of Operations and Accumulated Surplus
Year ended December 31, 2013, with comparative information for 2012
2013
2013
2012
Budget
Actual
Actual
Revenues:
Operating agreements
$ 459,200 $ 459,611 $ 467,111
Sales, rental and other income
429,825
484,146
513,943
Advertising revenues
151,394
121,853
140,003
Hotel tax
148,000
165,879
148,839
Fundraising revenues
5,500
12,568
5,591
Interest income
5,500
6,152
5,538
1,199,419
1,250,209
1,281,025
Expenditures:
Staffing costs
560,979
539,413
527,917
Advertising and business development
235,257
229,861
204,403
Operations
141,300
150,590
156,318
Administration
110,925
84,997
82,437
Utilities
86,500
77,898
83,789
Amortization of tangible capital assets
16,716
19,471
23,855
1,151,677
1,102,230
1,078,719
Annual surplus before distribution
47,742
147,979
202,306
Distribution to City of Chilliwack (note 11)
(46,877)
(122,983)
(125,643)
Annual surplus
865
24,996
76,663
Accumulated surplus, beginning of year
435,840
435,840
359,177
Accumulated surplus, end of year
$ 436,705 $ 460,836 $ 435,840
See accompanying notes to financial statements.
75
2013 Annual Report
