2018 Annual Financial Report

STATEMENT OF CHANGES IN NET DEBT SURREY PUBLIC LIBRARY

As at December 31, 2018, with comparative figures for 2017

2018 Budget

2017

2018

(Note 9)

ANNUAL SURPLUS (DEFICIT)

$ (301,000)

$ 204,422

$ (34,982)

Acquisition of tangible capital assets

(2,100,000)

(2,113,609)

(1,950,626)

Amortization of tangible capital assets

2,401,000

1,960,601

2,015,558

-

51,414

29,950

Acquisition of prepaid expenses

-

(84,744)

(120,177)

Use of prepaid expenses

-

34,799

84,744

-

(49,945)

(35,433)

CHANGE IN NET DEBT

$

-

$

1,469

$

(5,483)

Net Debt, beginning of year

(84,795)

(86,264)

(84,795)

Net Debt, end of year

$ (84,795)

$ (84,795)

$ (90,278)

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

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