2019 Annual Report

City of Chilliwack 76 City of Chilliwack Notes to Consolidated Financial Statements Year Ended December 31, 2019 9 Government Grants and Transfers Included in government grants and transfers are Federal Gas Tax Agreement Funds of $7,080,813 (2018 - $3,498,795). Gas Tax funding is provided by the Government of Canada. The use of the funding is established through a funding agreement between the Municipality and the Union of British Columbia Municipalities. Gas Tax funding may be used towards designated public transit, local roads and bridges, community energy, water, wastewater, solid waste, disaster mitigation, amateur sport and recreation, culture, tourism and capacity building projects as specified in the funding agreement. 10 Accumulated Surplus: Accumulated surplus consists of individual fund surplus, statutory reserves and surplus invested in tangible capital assets as follows: 2019 2018 Operating Funds Unrestricted: General 16,603,281 $ 16,305,009 $ CEPCO 5,907,840 5,285,433 Tourism 883,688 1,274,596 Water Fund 3,050,000 2,950,000 Sewer Fund 3,260,000 3,110,000 Building - Protective Services 4,441,343 4,376,662 Landfill 7,069,711 6,286,180 Sewer future works 9,566,453 11,557,371 Water future works 11,694,439 11,174,874 Work-in-progress 5,011,000 5,776,000 Soil Removal 716,696 791,150 Future property acquisition 2,575,000 2,575,000 Federal Gas Tax Agreement Funds 6,949,154 3,798,536 Other 6,483,802 7,444,348 84,212,407 82,705,159 Statutory Reserve Funds General Capital 19,073,308 19,792,845 Equipment Replacement 4,767,291 5,351,498 Subdivision Control 1,020,350 955,169 24,860,949 26,099,512 Investment in Tangible Capital Assets & Property Under Development General 473,757,268 461,136,319 Water 133,175,447 133,088,403 Sewer 180,202,831 174,424,202 CEPCO 7,983,016 8,258,461 Tourism 35,530 47,269 795,154,092 776,954,654 904,227,448 $ 885,759,325 $ 11 Collections for other governments: The City collects and remits taxes on behalf of other government jurisdictions as follows: 2019 2018 B.C. Assessment Authority 1,010,952 $ 926,244 $ Fraser Valley Regional Hospital District 3,227,162 3,080,843 Municipal Finance Authority 4,961 4,235 Ministry of Education 38,985,955 36,355,868 Fraser Valley Regional District 2,238,747 1,983,467 45,467,777 $ 42,350,657 $ These taxes are not included in the Consolidated Statement of Operations of the City.