Annual Report 2021 71 70 City of Chilliwack CITY OF CHILLIWACK CONSOLIDATED STATEMENT OF CHANGE IN NET FINANCIAL ASSETS Year Ended December 31, 2021 City of Chilliwack Consolidated Statement of Change in Net Financial Assets Year Ended December 31, 2021 with comparative information for 2020 2021 2021 Budget 2020 Actual (Note 15) Actual Annual surplus 32,606,869 $ 59,763,093 $ 41,873,952 $ Acquisition of tangible capital assets (52,466,282) (142,094,500) (47,201,237) Acquisition of property under development (4,663,548) - - Contributed tangible capital assets (7,547,273) (4,450,000) (7,807,282) Amortization of tangible capital assets 23,881,341 17,612,485 23,447,370 (Gain) loss on disposal of tangible capital assets 1,255,113 - (213,139) Proceeds on disposal of tangible capital assets 338,918 - 588,780 (6,594,862) (69,168,922) 10,688,444 Change in inventories 175,667 - (402,277) Change in prepaid expenses 835,722 - (1,295,082) Change in net financial assets (5,583,473) (69,168,922) 8,991,085 Net financial assets, beginning of year 112,960,041 112,960,041 103,968,956 Net financial assets, end of year 107,376,568 $ 43,791,119 $ 112,960,041 $ See accompanying notes to consolidated financial statements CITY OF CHILLIWACK CONSOLIDATED STATEMENT OF CASH FLOWS Year Ended December 31, 2021 l R rt 2 City of Chilliwack Consolidated Statement of Cash Flows Year Ended December 31, 2021 with comparative information for 2020 2021 2020 Cash provided by (used for): Operating Activities: Annual surplus $ 32,606,869 $ 41,873,952 Non-cash items: Amortization of tangible capital assets 23,881,341 23,447,370 Developer contributions (7,547,273) (7,807,282) (Gain) loss on sale of tangible capital assets 1,255,113 (213,139) Change in non-cash assets and liabilities: Accounts receivable (4,430,479) 4,973,736 Inventories 175,667 (402,277) Prepaid expenses 835,722 (1,295,082) Accounts payable and accrued liabilities 14,951,166 2,212,471 Development cost charges (4,805,224) (11,821,854) Unearned revenue 4,736,551 36,221 Refundable deposits 1,316,192 (1,607,913) 62,975,645 49,396,203 Capital Activities: Proceeds on disposal of tangible capital assets 338,918 588,780 Acquisition of tangible capital assets (52,466,282) (47,201,237) Acquisition of property under development (4,663,548) - (56,790,912) (46,612,457) Investing Activities: Change in portfolio investments (52,707,738) 20,612,332 (52,707,738) 20,612,332 Financing Activities: Repayment of capital partnership obligation - (996,412) - (996,412) Increase (decrease) in cash (46,523,005) 22,399,666 Cash, beginning of year 84,484,095 62,084,429 Cash, end of year $ 37,961,090 $ 84,484,095 See accompanying notes to consolidated financial statements
RkJQdWJsaXNoZXIy ODc2MA==