2019 Annual Report

Annual Report 2019 69 City of Chilliwack Consolidated Statement of Change in Net Financial Assets Year Ended December 31, 2019 with comparative information for 2018 2019 2019 Budget 2018 Actual (Note 16) Actual Annual surplus 18,468,123 $ 42,340,189 $ 32,354,632 $ Acquisition of tangible capital assets (36,899,905) (104,752,000) (66,859,192) Decrease in property under development - - 2,376,229 Developer contributions (2,898,310) (4,525,000) (4,618,530) Amortization of tangible capital assets 22,725,629 17,532,196 21,418,723 Loss on sale of tangible capital assets 535,449 - 5,674,845 Proceeds on sale of tangible capital assets 91,518 - 1,516,252 2,022,504 (49,404,615) (8,137,041) Change in inventories 156,161 - (226,948) Change in prepaid expenses (217,172) - (1,204,849) Change in net financial assets 1,961,493 (49,404,615) (9,568,838) Net financial assets, beginning of year 102,007,463 102,007,463 111,576,301 Net financial assets, end of year 103,968,956 $ 52,602,848 $ 102,007,463 $ See accompanying notes to consolidated financial statements