2020 Annual Report

Annual Report 2020 75 City of Chilliwack Notes to Consolidated Financial Statements Year Ended December 31, 2020 16 Budget figures: The operating and capital budget figures, presented on a basis consistent with that used for actual results, were approved by Council as the Financial Plan Bylaw 2020, No. 4754. The chart below reconciles the approved budget to the budget figures reported in these financial statements. 2020 Budget Revenues Operating budget 168,249,000 $ Capital budget Development cost charges 53,393,500 Developer contributions 4,450,000 Statutory reserve funds 20,105,000 Operating reserves 39,212,000 Current operations 8,737,000 Government grants 5,822,500 Total revenue per approved budget 299,969,000 Add: CEPCO 2,036,143 Tourism 2,236,614 Less: Transfers from other funds (93,325,000) Inter-entity eliminations (1,150,000) Total budgeted revenue as reported 209,766,757 Expenses Operating budget 168,249,000 Capital budget 131,720,000 299,969,000 Add: CEPCO 1,741,065 Tourism 2,079,564 Less: Transfers to other funds (150,914,900) Inter-entity eliminations (1,150,000) Total budgeted expenses as reported 151,724,729 Budgeted surplus as reported 58,042,028 $ CITY OF CHILLIWACK NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Year Ended December 31, 2020