2023 Annual Report I CITY OF CHILLIWACK CITY OF CHILLIWACK I 2023 Annual Report 80 81 CITY OF CHILLIWACK CONSOLIDATED STATEMENT OF FINANCIAL POSITION Year Ended December 31, 2023 City of Chilliwack Consolidated Statement of Financial Position Year Ended December 31, 2023 with comparative information for 2022 2023 2022 Financial Assets Cash (Note 3) $ 86,980,019 $ 68,269,879 Portfolio investments (Note 3) 145,897,831 141,693,710 Accounts receivable (Note 4) 26,919,132 24,808,284 259,796,982 234,771,873 Liabilities Accounts payable and accrued liabilities (Note 5) 32,886,602 41,415,295 Development cost charges (Note 6) 55,267,817 44,468,884 Unearned revenue 21,305,948 20,772,236 Refundable deposits 20,937,689 22,700,832 Asset retirement obligation (Note 2) 11,354,632 - 141,752,688 129,357,247 Net Financial Assets 118,044,294 105,414,626 Non-Financial Assets Property under development (Note 7) 9,754,271 9,090,099 Tangible capital assets (Note 8) 899,579,966 877,118,573 Inventories 1,881,952 1,707,085 Prepaid expenses 3,713,322 3,213,117 914,929,511 891,128,874 Accumulated Surplus (Note 10) $ 1,032,973,805 $ 996,543,500 Contingent liabilities (Note 12) Commitments (Note 14) Contractual rights (Note 15) _____________________________________________ Glen Savard, CPA, CGA Director of Finance See accompanying notes to consolidated financial statements CITY OF CHILLIWACK CONSOLIDATED STATEMENT OF OPERATIONS & ACCUMULATED SURPLUS Year Ended December 31, 2023 City of Chilliwack Consolidated Statement of Operations and Accumulated Surplus Year Ended December 31, 2023 with comparative information for 2022 2023 2023 Budget 2022 Actual (Note 16) Actual Revenues Municipal taxation and grants-in-lieu of taxes $ 103,856,044$ 103,093,000 $ 97,966,460 Government grants and transfers (Note 9) 32,556,542 16,596,391 16,952,148 Sale of services 55,917,578 51,952,692 51,718,960 Licences, permits, penalties and fines 5,090,279 4,441,000 5,013,351 Return on investments 7,288,132 1,542,970 3,967,252 Development cost charges 6,307,431 38,202,500 12,107,375 Contributed tangible capital assets (Note 8) 4,820,496 6,580,000 1,343,747 Other revenue 7,394,158 2,259,000 2,584,002 223,230,660 224,667,553 191,653,295 Expenses General government services 13,482,212 13,921,650 13,220,128 Protective services 56,870,177 57,212,350 52,930,738 Engineering, transportation and public works services 31,898,472 37,076,000 29,705,276 Solid waste and environmental services 15,242,471 15,189,700 13,538,313 Water and sewer services 29,007,510 27,444,500 28,561,919 Parks, recreation and cultural services 30,184,180 33,064,300 26,578,244 Planning and development 8,181,604 7,879,442 6,811,208 Interest and other 1,632,478 326,500 618,240 186,499,104 192,114,442 171,964,066 Annual Surplus Before Other Revenue (Loss) 36,731,556 32,553,111 19,689,229 Other revenue (loss) Loss on disposal of tangible capital assets (301,251) - (1,853,998) Annual Surplus 36,430,305 32,553,111 17,835,231 Accumulated Surplus, beginning of year 996,543,500 996,543,500 978,708,269 Accumulated Surplus, End of Year $ 1,032,973,805 $ 1,029,096,611 $ 996,543,500 See accompanying notes to consolidated financial statements
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