2020 Annual Report

City of Chilliwack 112 TOURISM CHILLIWACK INC. Notes to Consolidated Financial Statements (continued) Year ended December 31, 2020 11. Distribution to City of Chilliwack: In accordance with an agreement between the Company and the City of Chilliwack, a distribution of funds derived from the operation of Chilliwack Heritage Park is returned to the City and put into a building reserve fund, specifically for future use at Chilliwack Heritage Park. Subsequent to year-end, the City of Chilliwack has agreed to either reimburse the Company or to reduce future payments by the Company to the City of Chilliwack, for the Heritage Park portion of the MPP plan employer remittances until such time that the Heritage Park portion of the remittances have been fully recovered. The amount to be recovered from the City of Chilliwack is $210,297, see note 2. 12. Comparative figures: Certain prior year's figures have been reclassified to conform to current year's presentation. 13. Contractual rights: The Company has entered into contracts for various operating agreements. The Company is scheduled to receive the following amounts under those contracts: 2021 $ 630,060 14. Segmented information: The Company is a diversified other government organization that provides a range of services, including: Facility Management Facility Management includes all activities associated with the operation of Chilliwack Heritage Park including renting the facility for various events. Tourism Services Tourism Services includes all activities associated with the operation of the Chilliwack Visitor Centre including co-coordinating and delivering tourism marketing programs aimed at promoting Chilliwack as a tourist destination. Retail Services Retail Services includes all activities associated with operation of the Flag Shop including selling various national and international flags and other souvenir items. 12 TOURISM CHILLIWACK INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Year Ended December 31, 2020