2019 Annual Report

City of Chilliwack 98 CHILLIWACK ECONOMIC PARTNERS CORPORATION Notes to Financial Statements (continued) Year ended December 31, 2019 15. Segmented information (continued): The following table outlines the Corporation's revenues and expenses by operating segments: Rent and Property sales contracted Economic and construction services development 2019 2018 Revenues: Rent $ - $ 655,790 $ - $ 655,790 $ 678,385 Contracted services - 649,470 - 649,470 502,889 Economic development - - 600,000 600,000 550,000 Interest - - 127,429 127,429 102,320 Government programs - - 10,000 10,000 7,500 Other - - 4,800 4,800 10,500 Property development and construction 3,798 - - 3,798 6,532 Cost recovery and other receipts - - - - 1,000,000 3,798 1,305,260 742,229 2,051,287 2,858,126 Expenses: Contracted services - 514,664 - 514,664 393,154 Wages and benefits 40,233 89,407 317,394 447,034 424,870 Amortization of tangible capital assets - 270,302 8,760 279,062 261,141 Marketing - - 116,158 116,158 92,822 Downtown redevelopment - - 100,696 100,696 5,796 Rent 4,561 10,136 35,983 50,680 71,957 Common area costs - 36,278 - 36,278 56,542 Insurance and utilities - 51,509 - 51,509 50,665 Other 17,432 17,432 17,431 52,295 64,660 Premise operating costs 2,536 5,635 20,006 28,177 23,994 Repairs and maintenance - 24,449 - 24,449 20,558 64,762 1,019,812 616,428 1,701,002 1,466,159 Loss on disposal of capital assets - 3,323 - 3,323 - Annual surplus before other items $ (60,964) $ 282,125 $ 125,801 $ 346,962 $ 1,391,967 13