2020 Annual Report

City of Chilliwack 66 City of Chilliwack Consolidated Statement of Change in Net Financial Assets Year Ended December 31, 2020 with comparative information for 2019 2020 2020 Budget 2019 Actual (Note 16) Actual Annual surplus 41,873,952 $ 58,042,028 $ 18,468,123 $ Acquisition of tangible capital assets (47,201,237) (131,720,000) (36,899,905) Developer contributions (7,807,282) (4,450,000) (2,898,310) Amortization of tangible capital assets 23,447,370 17,530,071 22,725,629 (Gain) loss on disposal of tangible capital assets (213,139) - 535,449 Proceeds on disposal of tangible capital assets 588,780 - 91,518 10,688,444 (60,597,901) 2,022,504 Change in inventories (402,277) - 156,161 Change in prepaid expenses (1,295,082) - (217,172) Change in net financial assets 8,991,085 (60,597,901) 1,961,493 Net financial assets, beginning of year 103,968,956 103,968,956 102,007,463 Net financial assets, end of year 112,960,041 $ 43,371,055 $ 103,968,956 $ See accompanying notes to consolidated financial statements CITY OF CHILLIWACK CONSOLIDATED STATEMENT OF CHANGE IN NET FINANCIAL ASSETS Year Ende December 31, 2020