2019 Annual Report

City of Chilliwack 88 CHILLIWACK ECONOMIC PARTNERS CORPORATION Statement of Change in Net Financial Assets Year ended December 31, 2019, with comparative information for 2018 2019 2019 2018 Budget Actual Actual Annual surplus (deficit) $ 371,485 $ 346,962 $ (478,138) Acquisition of tangible capital assets - (6,940) (222,687) Amortization of tangible capital assets 220,000 279,062 261,141 Decrease in property under development - - 1,870,105 Change in prepaid expenses - 47,313 (951,847) Loss on disposal of capital assets - 3,323 - 220,000 322,758 956,712 Change in net financial assets 591,485 669,720 478,574 Net financial assets, beginning of year 4,320,952 4,320,952 3,842,378 Net financial assets, end of year $ 4,912,437 $ 4,990,672 $ 4,320,952 See accompanying notes to financial statements. 3