2019 Annual Report

City of Chilliwack 70 City of Chilliwack Consolidated Statement of Cash Flows Year Ended December 31, 2019 with comparative information for 2018 2019 2018 Cash provided by (used for): Operating Activities: Annual surplus $ 18,468,123 $ 32,354,632 Non-cash items: Amortization of tangible capital assets 22,725,629 21,418,723 Developer contributions (2,898,310) (4,618,530) Loss on sale of tangible capital assets 535,449 5,674,845 Change in non-cash assets and liabilities: Accounts receivable 7,970,620 (2,951,863) Inventories 156,161 (226,948) Prepaid expenses (217,172) (1,204,849) Accounts payable and accrued liabilities (1,234,919) 5,400,423 Development cost charges 2,751,340 3,848,762 Unearned revenue 444,168 (2,090,807) Refundable deposits (1,303,557) 7,025,389 47,397,532 64,629,777 Capital Activities: Proceeds on sale of tangible capital assets 91,518 1,516,252 Acquisition of tangible capital assets (36,899,905) (66,859,192) (36,808,387) (62,966,711) Investing Activities: Change in portfolio investments 12,527,260 (39,947,843) 12,527,260 (39,947,843) Financing Activities: Repayment of capital partnership obligation (1,156,933) (1,134,248) (1,156,933) (1,134,248) Increase (decrease) in cash 21,959,472 (39,419,025) Cash, beginning of year 40,124,957 79,543,982 Cash, end of year $ 62,084,429 $ 40,124,957 See accompanying notes to consolidated financial statements