2015 Financial Annual Report

Surrey Public Library

STATEMENT OF CHANGE IN NET DEBT

As at December 31, 2015, with comparative figures for 2014

2015 Budget

2014

2015

(note 9)

ANNUAL DEFICIT

$ (641,000)

$ (184,560)

$ (209,592)

Acquisition of tangible capital assets

(2,100,000)

(1,874,224)

(1,778,229)

Amortization of tangible capital assets

2,741,000

2,035,991

2,033,099

-

(22,793)

45,278

Acquisition of prepaid expenses

-

(33,758)

(95,086)

Use of prepaid expenses

-

34,665

33,758

-

907

(61,328)

CHANGE IN NET DEBT

$

-

$ (21,886)

$ (16,050)

Net Debt, beginning of year

(126,758)

(104,872)

(126,758)

$ (126,758)

$ (126,758)

Net Debt, end of year

$ (142,808)

To be read in conjunction with the Notes and Schedules to the Financial Statements

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