2018 Annual Report

City of Chilliwack 89 CHILLIWACK ECONOMIC PARTNERS CORPORATION Notes to Financial Statements (continued) Year ended December 31, 2018 15. Segmented information (continued): The following table outlines the Corporation's revenues and expenses by operating segments: Rent and Property sales contracted Economic and construction services development 2018 2017 Revenues: Rent $ - $ 678,385 $ - $ 678,385 $ 675,909 Contracted services - 502,889 - 502,889 497,048 Economic development - - 550,000 550,000 550,000 Interest - - 102,320 102,320 90,117 Property development and construction 6,532 - - 6,532 14,821 Other - - 18,000 18,000 9,500 Cost recovery and other receipts - - 1,000,000 1,000,000 - 6,532 1,181,274 1,670,320 2,858,126 1,837,395 Expenses: Wages and benefits 38,238 84,975 301,657 424,870 422,128 Contracted services - 393,154 - 393,154 395,344 Amortization - 252,381 8,760 261,141 240,690 Marketing - - 96,822 96,822 123,355 Downtown redevelopment - - 1,796 1,796 55,683 Rent 6,476 14,391 51,090 71,957 63,306 Other 21,553 21,553 21,554 64,660 90,597 Insurance and utilities - 50,665 - 50,665 39,717 Premise operating costs 2,159 4,799 17,036 23,994 15,964 Repairs and maintenance - 20,558 - 20,558 12,165 Common area costs - 56,542 - 56,542 69,284 Special economic projects - - - - 9,951 68,426 899,018 498,715 1,466,159 1,538,184 Annual surplus before distributions $ (61,894) $ 282,256 $ 1,171,605 $ 1,391,967 $ 299,211 13