2017 Annual Report

55 City of Chilliwack 2017 Annual Report City of Chilliwack Consolidated Statement of Cash Flows Year Ended December 31, 2017 with comparative information for 2016 2017 2016 Cash provided by (used for): Operating Activities: Annual surplus $ 28,494,296 $ 27,654,743 Non-cash items: Amortization of tangible capital assets 20,349,007 19,320,048 Developer contributions (6,587,910) (2,722,114) Loss on sale of tangible capital assets 130,527 80,230 Change in non-cash assets and liabilities: Accounts receivable 1,461,238 (3,585,065) Inventories (223,622) (67,433) Prepaid expenses 12,790 (137,329) Accounts payable and accrued liabilities 1,018,073 5,586,201 Development cost charges 7,026,364 11,360,092 Unearned revenue 5,192,163 666,128 Refundable deposits 4,262,233 6,219,352 61,135,159 64,374,853 Capital Activities: Proceeds on sale of tangible capital assets 563,766 659,182 Acquisition of tangible capital assets (35,926,735) (33,460,940) (35,362,969) (32,801,758) Investing Activities: Change in portfolio investments (30,008,445) 14,832,632 (30,008,445) 14,832,632 Financing Activities: Repayment of capital partnership obligation (1,112,008) (1,090,204) (1,112,008) (1,090,204) Increase (decrease) in cash (5,348,263) 45,315,523 Cash, beginning of year 84,892,245 39,576,722 Cash, end of year $ 79,543,982 $ 84,892,245 See accompanying notes to consolidated financial statements City of Chilliwack Financial Statements