2017 Annual Report

54 City of Chilliwack 2017 Annual Report City of Chilliwack Consolidated Statement of Change in Net Financial Assets Year Ended December 31, 2017 with comparative information for 2016 2017 2017 Budget 2016 Actual (Note 15) Actual Annual surplus 28,494,296 $ 58,351,371 $ 27,654,743 $ Acquisition of tangible capital assets (35,926,735) (112,695,900) (33,460,940) Developer contributions (6,587,910) (6,200,000) (2,722,114) Amortization of tangible capital assets 20,349,007 17,429,767 19,320,048 Loss on sale of tangible capital assets 130,527 - 80,230 Proceeds on sale of tangible capital assets 563,766 - 659,182 7,022,951 (43,114,762) 11,531,149 Change in inventories (223,622) - (67,433) Change in prepaid expenses 12,790 - (137,329) Change in net financial assets 6,812,119 (43,114,762) 11,326,387 Net financial assets, beginning of year 104,764,182 104,764,182 93,437,795 Net financial assets, end of year 111,576,301 $ 61,649,420 $ 104,764,182 $ See accompanying notes to consolidated financial statements City of Chilliwack Financial Statements