2020 Annual Report

Annual Report 2020 73 City of Chilliwack Notes to Consolidated Financial Statements Year Ended December 31, 2020 9 Government grants and transfers Included in government grants and transfers are Federal Gas Tax Agreement Funds of $3,583,604 (2019 - $7,080,813) and Covid-19 Safe Restart Grants for Local Governments of $6,488,000 (2019 - $0). 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: 2020 2019 Operating Funds Unrestricted: General 16,848,074 $ 16,603,281 $ CEPCO 6,520,428 5,907,840 Tourism 588,650 883,688 Water Fund 3,150,000 3,050,000 Sewer Fund 3,410,000 3,260,000 Building - Protective Services 3,803,462 4,441,343 Landfill 8,351,246 7,069,711 Sewer future works 9,613,887 9,566,453 Water future works 11,953,927 11,694,439 Work-in-progress 6,474,000 5,011,000 Soil removal 596,586 716,696 Future property acquisition 937,036 2,575,000 Federal Gas Tax Agreement funds 6,593,832 6,949,154 Other 10,786,005 6,483,802 89,627,133 84,212,407 Statutory Reserve Funds General Capital 25,272,712 19,073,308 Equipment Replacement 3,419,319 4,767,291 Subdivision Control 1,043,108 1,020,350 29,735,139 24,860,949 Investment in Tangible Capital Assets & Property Under Development General 501,962,431 473,757,268 Water 134,558,870 133,175,447 Sewer 182,326,115 180,202,831 CEPCO 7,857,788 7,983,016 Tourism 33,924 35,530 826,739,128 795,154,092 946,101,400 $ 904,227,448 $ 11 Collections for other governments: The City collects and remits taxes on behalf of other government jurisdictions as follows: 2020 2019 B.C. Assessment Authority 1,099,243 $ 1,010,952 $ Fraser Valley Regional Hospital District 3,271,910 3,227,162 Municipal Finance Authority 5,067 4,961 Ministry of Education 33,762,482 38,985,955 Fraser Valley Regional District 2,420,700 2,238,747 40,559,402 $ 45,467,777 $ These taxes are not included in revenues within the Consolidated Statement of Operations and Accumulated Surplus of the City. CITY OF CHILLIWACK NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Year Ended December 31, 2020