CITY OF CHILLIWACK 2025 Annual Report 108 109 2025 Annual Report CITY OF CHILLIWACK TOURISM CHILLIWACK INC. Consolidated Statement of Financial Position December 31, 2025, with comparative information for 2024 2025 2024 Financial assets: Cash and cash equivalents $ 1,559,058 $ 1,036,546 Accounts receivable 353,385 415,109 1,912,443 1,451,655 Financial liabilities: Accounts payable and accrued liabilities 390,973 204,497 Due to City of Chilliwack (note 10) 52,043 45,449 Deferred revenue 412,433 83,517 855,449 333,463 Net financial assets 1,056,994 1,118,192 Non-financial assets: Inventories (note 2) 66,386 69,634 Prepaid expenses and deposits 38,793 23,883 Tangible capital assets (note 3) 76,805 29,922 Goodwill 6,120 6,120 188,104 129,559 Contingency (note 9) Accumulated surplus $ 1,245,098 $ 1,247,751 Represented by: Share capital (note 4) $ 1 $ 1 Unrestricted equity 1,168,292 1,217,828 Equity in tangible capital assets 76,805 29,922 $ 1,245,098 $ 1,247,751 See accompanying notes to financial statements. Director Director 1 TOURISM CHILLIWACK INC. CONSOLIDATED STATEMENT OF FINANCIAL POSITION Year Ended December 31, 2025 TOURISM CHILLIWACK INC. CONSOLIDATED STATEMENT OF OPERATIONS & ACCUMULATED SURPLUS Year Ended December 31, 2025 TOURISM CHILLIWACK INC. Consolidated Statement of Operations and Accumulated Surplus Year ended December 31, 2025, with comparative information for 2024 2025 2025 2024 Budget Actual Actual Revenues: Sales, rental and other income $ 839,265 $ 945,661 $ 1,233,149 Operating agreements (note 5) 615,411 615,411 889,318 Hotel tax 757,753 911,988 889,758 Advertising revenues 415,322 202,491 391,192 Interest income 23,980 18,247 22,404 2,651,731 2,693,798 3,425,821 Expenditures: Advertising and business development 752,969 654,872 1,432,775 Staffing costs 1,304,305 1,358,005 1,267,635 Operations 262,114 252,753 263,047 Administration 203,365 255,869 251,328 Utilities 87,514 77,616 71,079 Amortization of tangible capital assets 16,853 45,293 24,862 2,627,120 2,644,408 3,310,726 Annual surplus before distribution 24,611 49,390 115,095 Distribution to City of Chilliwack (note 10) - (52,043) (45,449) Annual surplus (deficit) 24,611 (2,653) 69,646 Accumulated surplus, beginning of year 1,247,751 1,247,751 1,178,105 Accumulated surplus, end of year $ 1,272,362 $ 1,245,098 $ 1,247,751 See accompanying notes to financial statements. 2
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