2017 Finance Annual Report

NOTESTOTHE SURREY PUBLIC LIBRARY  FINANCIAL STATEMENTS

For the year ended December 31, 2017

4. DEFERRED REVENUE

2016

2017

Balance, beginning of year

$

45,507

$

58,943 97,176

Amounts received for grants, sponsorships and other

132,895

Amounts recognized as Provincial and Federal grants revenue

(119,459)

(113,179)

Balance, end of year

$

58,943

$

42,940

5. TANGIBLE CAPITAL ASSETS

Disposals / Write-downs/ Allocations $ 1,983,748

Balance at December 31, 2016

Balance at December 31, 2017

Cost

Additions

Books and publications

$ 8,907,390

$ 1,899,597

$ 8,823,239

Machinery and equipment

2,019,145

214,012

-

2,233,157

Total

$ 10,926,535

$ 2,113,609

$ 1,983,748

$ 11,056,396

Accumulated Amortization on Disposals

Balance at December 31, 2016

Balance at December 31, 2017

Accumulated Amortization

Amortization $ 1,773,669

Books and publications

$ 4,575,082

$ 1,983,748

$ 4,365,003

Machinery and equipment

1,051,563

186,932

-

1,238,495

Total

$ 5,626,645

$ 1,960,601

$ 1,983,748

$ 5,603,498

Balance at December 31, 2016

Balance at December 31, 2017

Net Book Value

Books and publications

$ 4,322,308

$ 4,458,236

Machinery and equipment

967,582

994,662

Total

$ 5,299,890

$ 5,452,898

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