76 City of Chilliwack CITY OF CHILLIWACK CONSOLIDATED STATEMENT OF FINANCIAL POSITION Year Ended December 31, 2022 City of Chilliwack Consolidated Statement of Financial Position Year Ended December 31, 2022 with comparative information for 2021 2022 2021 Financial Assets Cash (Note 2) $ 68,269,879 $ 37,961,090 Portfolio investments (Note 2) 141,693,710 173,906,156 Accounts receivable (Note 3) 24,808,284 23,298,816 234,771,873 235,166,062 Liabilities Accounts payable and accrued liabilities (Note 4) 41,415,295 43,842,472 Development cost charges (Note 5) 44,468,884 41,975,760 Unearned revenue 20,772,236 18,428,621 Refundable deposits 22,700,832 23,542,641 129,357,247 127,789,494 Net Financial Assets 105,414,626 107,376,568 Non-Financial Assets Property under development (Note 6) 9,090,099 8,345,508 Tangible capital assets (Note 7) 877,118,573 857,595,351 Inventories 1,707,085 1,538,571 Prepaid expenses 3,213,117 3,852,271 891,128,874 871,331,701 Accumulated Surplus (Note 9) $ 996,543,500 $ 978,708,269 Contingent liabilities (Note 11) Commitments (Note 13) Contractual rights (Note 14) vtkwC>ef_Q Glen Savard, CPA, CGA Director of Finance See accompanying notes to consolidated financial statements CITY OF CHILLIWACK CONSOLIDATED STATEMENT OF OPERATIONS & ACCUMULATED SURPLUS Year Ended December 31, 2022 City of Chilliwack Consolidated Statement of Operations and Accumulated Surplus Year Ended December 31, 2022 with comparative information for 2021 2022 2022 Budget 2021 Actual (Note 15) Actual Revenues Municipal taxation and grants-in-lieu of taxes $ 97,966,460 $ 96,572,400 $ 92,999,344 Government grants and transfers (Note 8) 16,952,148 11,063,330 13,486,342 Sale of services 51,718,960 45,748,214 46,223,122 Licences, permits, penalties and fines 5,013,351 4,096,000 5,123,746 Return on investments 3,967,252 1,190,360 2,306,452 Development cost charges 12,107,375 39,323,500 20,321,963 Contributed tangible capital assets (Note 7) 1,343,747 6,035,000 7,547,273 Other revenue 2,584,002 1,556,000 2,494,031 191,653,295 205,584,804 190,502,273 Expenses General government services 13,220,128 12,734,550 11,492,201 Protective services 52,930,738 46,491,700 48,836,191 Engineering, transportation and public works services 29,705,276 36,353,500 26,621,984 Solid waste and environmental services 13,538,313 13,721,300 12,881,220 Water and sewer services 28,561,919 23,821,400 24,200,524 Parks, recreation and cultural services 26,578,244 30,056,050 24,122,689 Planning and development 6,811,208 8,853,224 8,137,074 Interest and other 618,240 251,600 348,408 171,964,066 172,283,324 156,640,291 Annual Surplus Before Other Revenue (Loss) 19,689,229 33,301,480 33,861,982 Other revenue (loss) Loss on disposal of tangible capital assets (1,853,998) - (1,255,113) Annual Surplus 17,835,231 33,301,480 32,606,869 Accumulated Surplus, beginning of year 978,708,269 978,708,269 946,101,400 Accumulated Surplus, End of Year $ 996,543,500 $ 1,012,009,749 $ 978,708,269 See accompanying notes to consolidated financial statements Annual Report 2022 77
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