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TOURISM CHILLIWACK INC.
Statements of Operations
Years ended December 31, 2011 and 2010
2011
2011
2010
Budget
Actual
Actual
(Unaudited)
Revenues:
Grant revenues
$ 179,472 $ 160,200 $ 165,000
Hotel tax
142,000
143,023
150,050
Advertising revenues
142,735
131,370
131,806
Retail sales and other revenues
89,850
89,203
123,738
Interest income
2,000
8,307
2,002
Fundraising revenues
6,000
4,570
5,338
562,057
536,673
577,934
Cost of retail sales and other revenues
49,000
43,011
53,726
513,057
493,662
524,208
Expenditures:
Salaries and benefits
229,405
235,934
220,516
Advertising
138,400
95,449
118,394
Printing and material costs
45,368
43,624
49,319
Amortization of tangible capital assets
21,201
20,907
27,828
Office and general
22,255
15,661
15,329
Professional fees
13,100
15,002
15,124
Vehicles
-
13,693
13,022
Repairs and maintenance
14,425
12,625
12,618
Training courses
11,250
7,640
8,942
Telephone
7,475
7,324
6,922
Utilities
4,250
4,324
4,324
Interest and bank charges
2,000
2,022
1,930
Courier and delivery charges
3,600
1,998
2,741
512,729
476,203
497,009
Annual surplus (Note 2)
328
17,459
27,199
Accumulated surplus, beginning of year (Note 2)
341,718
341,718
314,519
Accumulated surplus, end of year
$ 342,046 $ 359,177 $ 341,718
See accompanying notes to financial statements.
Tourism Chilliwack Inc.
Financial Statements
2011 City of Chilliwack Annual Report
68