CITY OF CHILLIWACK 2025 Annual Report 90 91 2025 Annual Report CITY OF CHILLIWACK CHILLIWACK ECONOMIC PARTNERS CORPORATION Statement of Financial Position Year ended December 31, 2025, with comparative information for 2024 2025 2024 Financial assets: Cash (note 2) $ 783,971 $ 495,163 Accounts receivable 18,620 13,059 Investments 433,764 1,248,972 1,236,355 1,757,194 Financial liabilities: Accounts payable and accrued liabilities 29,345 412,142 Unearned revenue 191,669 191,669 Line of credit (note 2) 1,675,138 - Asset retirement obligation 84,693 80,868 1,980,845 684,679 Net financial assets (deficiency) (744,490) 1,072,515 Non-financial assets: Prepaid expenses 627,735 697,069 Property under development (note 3) 12,487,109 10,214,554 Tangible capital assets (note 4) 3,603,356 3,690,875 16,718,200 14,602,498 Accumulated surplus (note 5) $ 15,973,710 $ 15,675,013 See accompanying notes to financial statements. Director Director 1 CHILLIWACK ECONOMIC PARTNERS CORPORATION (CEPCO) STATEMENT OF STATEMENT OF FINANCIAL POSITION Year Ended December 31, 2025 CHILLIWACK ECONOMIC PARTNERS CORPORATION (CEPCO) STATEMENT OF OPERATIONS & ACCUMULATED SURPLUS Year Ended December 31, 2025 CHILLIWACK ECONOMIC PARTNERS CORPORATION Statement of Operations and Accumulated Surplus Year ended December 31, 2025, with comparative information for 2024 2025 2025 2024 Budget Actual Actual Revenues: Rent $ 704,266 $ 678,715 $ 683,839 Economic development (note 7) 650,000 650,000 650,000 Government programs 20,000 17,500 10,000 Contracted services 186,000 243,063 186,560 Property management 5,000 14,331 7,958 Interest 8,000 23,041 40,710 Other revenue 8,500 8,500 8,000 1,581,766 1,635,150 1,587,067 Expenses: Wages and benefits 532,534 548,341 536,105 Downtown redevelopment 1,325 58,321 36,334 Amortization of tangible capital assets 142,000 147,375 148,382 Contracted services 125,000 152,109 132,510 Marketing 155,675 86,495 58,530 Insurance 68,250 63,990 66,335 Rent - 50,000 50,000 Common area costs 69,000 43,105 49,869 Office and administration 54,300 47,532 46,062 Repairs and maintenance 42,180 48,706 32,445 Professional fees 35,500 28,184 38,621 Premise operating costs 32,500 30,089 28,740 Utilities 15,000 14,337 13,843 Interest and bank charges 1,800 17,869 1,584 1,275,064 1,336,453 1,239,360 Annual surplus 306,702 298,697 347,707 Accumulated surplus, beginning of year 15,675,013 15,675,013 15,327,306 Accumulated surplus, end of year $ 15,981,715 $ 15,973,710 $ 15,675,013 See accompanying notes to financial statements. 2
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