137 2024 Annual Report | CITY OF CHILLIWACK CITY OF CHILLIWACK | 2024 Annual Report 136 TOURISM CHILLIWACK INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Year Ended December 31, 2024 TOURISM CHILLIWACK INC. Notes to Consolidated Financial Statements (continued) Year ended December 31, 2024 13. Segmented information: The Company is a diversified other government organization that provides a range of services, including: Facility Management Facility Management includes all activities associated with the operation of Chilliwack Heritage Park including renting the facility for various events. Tourism Services Tourism Services includes all activities associated with the operation of the Chilliwack Visitor Centre including co-coordinating and delivering tourism marketing programs aimed at promoting Chilliwack as a tourist destination. Retail Services Retail Services includes all activities associated with operation of the Flag Shop including selling various national and international flags, other souvenir items and a collection of clothing and accessories.. The Fraser Valley (TFV) Marketing Campaign The Fraser Valley (TFV) Marketing Campaign includes all activities associated with the Cooperative Marketing Partnerships Program. 12 TOURISM CHILLIWACK INC. Notes to Consolidated Financial Statements (continued) Year ended December 31, 2024 13. Segmented information (continued): The following table outlines the Company's revenues and expenditures by operating segments: Facility Tourism Retail The Fraser Valley Management services services (TFV) Marketing Eliminations 2024 2023 Campaign Revenues: Sales, rental and other income $ 755,706 $ 361,252 $ 116,191 $ - $ - $ 1,233,149 $ 1,280,772 Operating agreements 445,000 444,318 - - - 889,318 1,224,657 Hotel tax - 889,758 - - - 889,758 925,792 Advertising revenues - 242,880 - 243,312 (95,000) 391,192 412,098 Interest income 2,507 19,897 - - - 22,404 25,390 1,203,213 1,958,105 116,191 243,312 (95,000) 3,425,821 3,868,709 Expenditures: Advertising and business development 95,000 1,090,418 1,810 340,547 (95,000) 1,432,775 1,540,393 Staffing costs 743,231 483,390 41,014 - - 1,267,635 1,153,294 Operations 175,151 54,735 33,161 - - 263,047 408,543 Administration 74,618 176,710 - - - 251,328 219,027 Utilities 66,320 4,759 - - - 71,079 76,317 Amortization of tangible capital assets 3,444 21,418 - - - 24,862 34,132 1,157,764 1,831,430 75,985 340,547 (95,000) 3,310,726 3,431,706 Annual surplus (deficit) before distribution $ 45,449 $ 126,675 $ 40,206 $ (97,235) $ - $ 115,095 $ 437,003 13 TOURISM CHILLIWACK INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Year Ended December 31, 2024
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