2017 Finance Annual Report

STATEMENT OF SURREY PUBLIC LIBRARY OPERATIONS

For the year ended December 31, 2017, with comparative figures for 2016

2017 Budget

2016

2017

(Note 9)

REVENUES City of Surrey grant

$ 17,858,000

$ 16,270,240

$ 17,354,950

Provincial and federal grants (Note 6)

972,500

972,843 508,720 536,313 138,305

1,004,729

Neighbourhood community plan

-

191,300 601,952 113,314

Fines and fees

495,700

Other

51,800

19,378,000

18,426,421

19,266,245

EXPENSES Salaries and benefits

13,951,900

13,281,634

13,532,634 1,734,880 1,040,067

Site operations

1,709,050

1,577,399

Library materials collection Supplies and materials Inter-library services Professional services

751,500 330,763 140,000 194,000 200,787

942,159 236,438 134,283 226,099 161,351

301,412 129,182 186,056 176,991

Other

Amortization

2,032,000

1,989,013

1,960,601

19,310,000

18,548,376

19,061,823

ANNUAL SURPLUS (DEFICIT) Accumulated Surplus, beginning of year

$ 68,000

$ (121,955)

$ 204,422

5,248,425

5,370,380

5,248,425

Accumulated Surplus, end of year (Note 7)

$ 5,316,425

$ 5,248,425

$ 5,452,847

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

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