84 City of Chilliwack CITY OF CHILLIWACK NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Year Ended December 31, 2022 City of Chilliwack Notes to Consolidated Financial Statements Year Ended December 31, 2022 7 Tangible capital assets (continued): Opening 2022 Ending NBV NBV Accum. Amort. Amortization Disposals Accum. Amort 2022 2021 General Land - $ - $ - $ - $ $ 153,062,208 $ 150,642,264 Buildings 60,161,148 3,533,608 (287,094) 63,407,662 84,492,639 87,538,590 Equipment and vehicles 27,435,253 3,192,093 (587,919) 30,039,427 19,916,661 21,193,771 Engineering structures 177,182,489 8,616,223 (458,842) 185,339,870 259,270,926 245,595,285 Under construction - - - - 33,870,442 25,236,095 264,778,890 15,341,924 (1,333,855) 278,786,959 550,612,876 530,206,005 Water Land - - - - 2,026,328 2,026,328 Buildings 4,875 1,949 - 6,824 20,349 22,298 Equipment and vehicles 1,397,025 426,392 (34,322) 1,789,095 2,423,790 2,660,244 Engineering structures 73,344,138 3,283,642 (52,156) 76,575,624 128,967,815 129,278,962 Under construction - - - - 4,097,216 2,006,384 74,746,038 3,711,983 (86,478) 78,371,543 137,535,498 135,994,216 Sewer Land - - - - 1,643,155 1,643,155 Equipment and vehicles 1,478,812 213,697 - 1,692,509 1,518,680 1,721,454 Engineering structures 101,989,460 5,290,701 (34,322) 107,245,839 179,468,742 183,079,253 Under construction - - - - 2,455,821 912,528 103,468,272 5,504,398 (34,322) 108,938,348 185,086,398 187,356,390 CEPCO Land - - - - 196,196 196,196 Buildings 1,608,391 152,159 - 1,760,550 3,628,266 3,769,133 Equipment 243,067 13,138 - 256,205 37,127 50,265 1,851,458 165,297 - 2,016,755 3,861,589 4,015,594 Tourism Chilliwack Goodwill - - - - 6,120 6,120 Buildings 120,128 - - 120,128 7,785 7,785 Equipment 211,214 7,141 - 218,355 8,307 9,241 331,342 7,141 - 338,483 22,212 23,146 $ 445,176,000 $ 24,730,743 (1,454,655) $ $ 468,452,088 $ 877,118,573 $ 857,595,351 The fair value of tangible capital assets contributed to the City during the year is as follows: 2022 2021 Engineering structures 1,263,547 $ 2,788,648 $ Water 78,175 524,097 Sewer 2,025 490,742 Land - 3,578,786 Building - 165,000 1,343,747 $ 7,547,273 $ CITY OF CHILLIWACK NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Year Ended December 31, 2022 City of Chilliwack Notes to Consolidated Financial Statements Year Ended December 31, 2022 8 Government grants and transfers Included in government grants and transfers are Federal Gas Tax Agreement Funds of $3,745,554 (2021 - $7,329,158). 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. 9 Accumulated surplus: Accumulated surplus consists of individual fund surplus, statutory reserves and surplus invested in tangible capital assets as follows: 2022 2021 Operating Funds Unrestricted: General 10,747,330 $ 13,202,755 $ CEPCO 1,829,079 1,902,234 Tourism 1,110,827 870,732 Water Fund 3,350,000 3,250,000 Sewer Fund 3,560,000 3,560,000 Building - Protective Services 2,957 1,607,957 Landfill 11,530,809 10,419,805 Sewer future works 9,125,650 7,911,660 Water future works 10,896,923 12,236,558 Work-in-progress 10,635,500 8,862,500 Soil removal 450,976 486,016 Future property acquisition - 937,036 Federal Gas Tax Agreement funds 12,735,704 12,424,054 Other 11,398,525 10,211,440 87,374,280 87,882,747 Statutory Reserve Funds General Capital 15,605,524 18,846,459 Equipment Replacement 6,152,016 5,040,018 Subdivision Control 1,203,008 998,186 22,960,548 24,884,663 Investment in Tangible Capital Assets & Property Under Development General 550,612,876 530,206,005 Water 137,535,498 135,994,216 Sewer 185,086,398 187,356,390 CEPCO 12,951,688 12,361,102 Tourism 22,212 23,146 886,208,672 865,940,859 996,543,500 $ $ 978,708,269 10 Collections for other governments: The City collects and remits taxes on behalf of other government jurisdictions as follows: 2022 2021 B.C. Assessment Authority 1,336,956 $ 1,168,225 $ Fraser Valley Regional Hospital District 3,447,450 3,358,192 Municipal Finance Authority 7,233 5,477 Ministry of Education 47,816,863 43,588,270 Fraser Valley Regional District 2,643,441 2,579,458 55,251,943 $ 50,699,622 $ These taxes are not included in revenues within the Consolidated Statement of Operations and Accumulated Surplus of the City. Annual Report 2022 85
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