CITY OF CHILLIWACK | 2024 Annual Report 84 85 2024 Annual Report | CITY OF CHILLIWACK CITY OF CHILLIWACK CONSOLIDATED STATEMENT OF FINANCIAL POSITION Year Ended December 31, 2024 CITY OF CHILLIWACK CONSOLIDATED STATEMENT OF OPERATIONS & ACCUMULATED SURPLUS Year Ended December 31, 2024 City of Chilliwack Consolidated Statement of Financial Position Year Ended December 31, 2024 with comparative information for 2023 Financial Assets Cash (Note 3) Portfolio investments (Note 3) Accounts receivable (Note 4) Liabilities Accounts payable and accrued liabilities (Note 5) Development cost charges (Note 6) Unearned revenue Refundable deposits Asset retirement obligation (Note 7) Net Financial Assets Non-Financial Assets Property under development (Note 8) Tangible capital assets (Note 9) Inventories Prepaid expenses Accumulated Surplus (Note 11) Contingent liabilities (Note 13) Commitments (Note 15) Contractual rights (Note 16) Glen Savard, CPA, CGA Director of Finance See accompanying notes to consolidated financial statements $ $ 2024 2023 63,041,295 $ 86,980,019 176,033,434 145,897,831 34,865,433 26,919,132 273,940,162 259,796,982 38,478,422 32,886,602 58,874,400 55,267,817 21,292,799 21,305,948 21,890,641 20,937,689 13,195,639 11,354,632 153,731,901 141,752,688 120,208,261 118,044,294 10,214,554 9,754,271 927,235,732 899,579,966 2,080,362 1,881,952 3,992,588 3,713,322 943,523,236 914,929,511 1,063,731,497 $ 1,032,973,805 City of Chilliwack Consolidated Statement of Operations and Accumulated Surplus Year Ended December 31, 2024 with comparative information for 2023 2024 2024 Budget 2023 Actual (Note 17) Actual Revenues Municipal taxation and grants-in-lieu of taxes $ 114,760,583$ 112,484,100 $ 103,856,044 Government grants and transfers (Note 10) 18,526,859 41,667,486 32,556,542 Sale of services 64,202,031 53,525,407 55,917,578 Licences, permits, penalties and fines 5,554,522 4,506,000 5,090,279 Return on investments 7,967,345 1,757,870 7,288,132 Development cost charges 14,944,064 47,668,000 6,307,431 Contributed tangible capital assets (Note 9) 3,271,221 6,594,000 4,820,496 Other revenue 582,637 2,554,000 7,394,158 229,809,262 270,756,863 223,230,660 Expenses General government services 22,492,848 15,931,850 15,114,690 Protective services 60,060,838 60,485,800 56,870,177 Engineering, transportation and public works services 31,081,788 34,745,800 31,898,472 Solid waste and environmental services 17,066,637 16,692,400 15,242,471 Water and sewer services 29,319,106 28,294,000 29,007,510 Parks, recreation and cultural services 28,900,690 33,786,000 30,184,180 Planning and development 9,224,919 7,740,190 8,181,604 198,146,826 197,676,040 186,499,104 Annual Surplus Before Other Revenue (Loss) 31,662,436 73,080,823 36,731,556 Other revenue (loss) Loss on disposal of tangible capital assets (904,744) - (301,251) Annual Surplus 30,757,692 73,080,823 36,430,305 Accumulated Surplus, beginning of year 1,032,973,805 1,032,973,805 996,543,500 Accumulated Surplus, End of Year $ 1,063,731,497 $ 1,106,054,628 $ 1,032,973,805 See accompanying notes to consolidated financial statements
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