2021 Annual Report

98 CHILLIWACK ECONOMIC PARTNERS CORPORATION NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2021 City of Chilliwack CHILLIWACK ECONOMIC PARTNERS CORPORATION Notes to Financial Statements (continued) Year ended December 31, 2021 13. 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 2021 2020 Revenues: Rent $ - $ 722,335 $ - $ 722,335 $ 668,380 Economic development - - 600,000 600,000 600,000 Contracted services - 363,648 - 363,648 734,103 Property development and construction 14,506 - - 14,506 25,534 Interest - - 11,174 11,174 105,133 Other revenue - - 4,500 4,500 3,250 14,506 1,085,983 615,674 1,716,163 2,136,400 Expenses: Wages and benefits 42,213 93,807 333,017 469,037 460,212 Contracted services - 271,558 - 271,558 549,932 Amortization of tangible capital assets - 159,479 - 159,479 242,155 Common area costs - 103,778 - 103,778 58,583 Downtown redevelopment - - 101,689 101,689 100,307 Marketing - - 59,617 59,617 122,990 Rent 4,500 10,000 35,500 50,000 50,000 Professional fees 16,366 16,366 16,366 49,098 21,242 Insurance - 42,555 - 42,555 38,350 Repairs and maintenance - 29,657 - 29,657 28,203 Premise operating costs 2,577 5,727 20,330 28,634 27,514 Office and administration 8,529 8,529 8,529 25,587 25,361 Utilities - 15,561 - 15,561 14,646 Interest and bank charges 542 542 541 1,625 1,256 74,727 757,559 575,589 1,407,875 1,740,751 Annual surplus (deficit) before other items $ (60,221) $ 328,424 $ 40,085 $ 308,288 $ 395,649 12

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