2018 Annual Financial Report

NOTESTOTHE CONSOLIDATED CITY OF SURREY FINANCIAL STATEMENTS

For the year ended December 31, 2018 [tabular amounts in thousands of dollars]

1. SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) u) Accounting policy change

The Public Sector Accounting Board issued new standards, PS 3210 Assets, PS 3320 Contingent Assets and PS 3380 Contractual Rights. The new standards apply to the City for the fiscal year beginning January 1, 2018. These standards have been utilized for the preparation of these consolidated financial statements (Note 13).

2. ACCOUNTS RECEIVABLE

2017

2018

General and other accounts receivable

$

40,624 61,492 18,398 14,473

$

56,183 56,162 21,731 16,016

Development cost charges

Property taxes

Utility rate charges

Due from joint venture partners

925

-

Due from other authorities

3,775 2,516

3,967 2,570

MFA debt reserve fund receivable

Tax sale properties

73

18

$

142,276

$

156,647

3. INVESTMENTS

2017

2018

Maturing within one year Maturing within two years Maturing within ten years

$

391,870 153,114 248,274 793,258

$

414,649 126,686 171,720 713,055

City investments (a)

SCDC investments (b) SHHS investments (c)

6,999 7,261

6,455 6,517

Government business partnership (d)

374 304

444 384

Government partnership (e)

$

808,196

$

726,855

55