2018 Annual Financial Report

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS  CITY OF SURREY

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

10. TANGIBLE CAPITAL ASSETS

2017

Net Book Value by category Land and land improvements

2018

$

1,819,749 2,922,967

$

1,878,923 3,079,917

Land under road

Buildings and building improvements

391,572

434,452

Infrastructure

3,013,032

3,095,717

Machinery and equipment Assets under construction

133,045 355,444

133,125 360,466

$

8,635,809

$ 8,982,600

2017

Net Book Value by fund

2018

General capital

$

2,422,481 3,848,881

$

2,528,916 4,073,506

Transportation capital

Water capital Sewer capital Drainage capital

623,236 576,678

640,316 593,978

1,079,156

1,094,243

Library capital

5,456

5,388

Surrey City Development Corp.

79,924

46,216

Other Entities

-

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$

8,635,809

$ 8,982,600

For additional detailed information, see the Schedule of Tangible Capital Assets (Schedule 1). a) Assets Under Construction

Assets under construction are comprised of costs related to projects currently under planning, development or construction that will result in a tangible capital asset at a future date. Such costs are capitalized until such time as the property is available for productive use. Assets under construction have not been amortized. Amortization of these assets will commence when each specific asset is put into service. b) Contributed Tangible Capital Assets Contributed tangible capital assets have been recognized at fair value at the date of contribution. The value of contributed assets received during the year was $237.0 million (2017 - $151.6 million) comprised of roads infrastructure in the amount of $179.2 million (2017 - $125.3 million), water and wastewater infrastructure in the amount of $38.6 million (2017 - $17.3 million) and land in the amount of $19.2 million (2017 - $9.0 million), including improvements.

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