2018 Annual Report

City of Chilliwack 69 City of Chilliwack Notes to Consolidated Financial Statements Year Ended December 31, 2018 9 Government Grants and Transfers Included in government grants and transfers are Federal Gas Tax Agreement Funds of $3,498,795 (2017 - $3,385,894). Gas Tax funding is provided by the Government of Canada. The use of the funding is established through a funding agreement between the Municipality and the Union of British Columbia Municipalities. Gas Tax funding may be used towards designated public transit, local roads and bridges, community energy, water, wastewater, solid waste, disaster mitigation, amateur sport and recreation, culture, tourism and capacity building projects as specified in the funding agreement. 10 Accumulated Surplus: Accumulated surplus consists of individual fund surplus, statutory reserves and surplus invested in tangible capital assets as follows: 2018 2017 Operating Funds Unrestricted: General 16,305,009 $ 16,044,268 $ CEPCO 5,285,433 4,455,012 Tourism 1,274,596 1,118,538 Water Fund 2,950,000 2,850,000 Sewer Fund 3,110,000 2,960,000 Building - Protective Services 4,376,662 3,753,861 Landfill 6,286,180 6,576,004 Sewer future works 11,557,371 16,289,964 Water future works 11,174,874 9,999,738 Work-in-progress 5,776,000 6,131,700 Soil Removal 791,150 836,983 Future property acquisition 2,575,000 4,700,000 Federal Gas Tax Agreement Funds 3,798,536 6,369,570 Other 7,444,348 6,610,983 82,705,159 88,696,621 Statutory Reserve Funds General Capital 19,792,845 22,688,130 Equipment Replacement 5,351,498 5,752,948 Subdivision Control 955,169 938,257 26,099,512 29,379,335 Investment in Tangible Capital Assets & Property Under Development General 461,136,319 432,519,977 Water 133,088,403 131,064,673 Sewer 174,424,202 161,438,284 CEPCO 8,258,461 10,258,690 Tourism 47,269 47,113 776,954,654 735,328,737 885,759,325 $ 853,404,693 $ 11 Collections for other governments: The City collects and remits taxes on behalf of other government jurisdictions as follows: 2018 2017 B.C. Assessment Authority 926,244 $ 847,236 $ Fraser Valley Regional Hospital District 3,080,843 2,975,465 Municipal Finance Authority 4,235 3,548 Ministry of Education 36,355,868 34,623,503 Fraser Valley Regional District 1,983,467 1,962,183 42,350,657 $ 40,411,935 $ These taxes are not included in the Consolidated Statement of Operations of the City.