2018 Annual Financial Report

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS  CITY OF SURREY

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

16. OTHER REVENUE

2017

2018

$

30,040 11,830

$

33,713 13,286

Licenses and permits

Leases and rentals

4,812 5,486 9,511

5,365 7,130

Penalties and interest on taxes

Miscellaneous

15,709

Gain on sale of assets

-

7,338

Gain on sale of partnership interest (note 19b)

$

61,679

$

82,541

17. SIGNIFICANT   TAXPAYERS

The City is not reliant upon the revenue from any specific large property taxpayers or businesses. Tax revenues received from the ten largest properties amount to less than four percent of the City’s annual gross taxation revenues.

18. TRUST FUNDS

These funds account for assets, which must be administered as directed by agreement or statute for certain beneficiaries. In accordance with PSAB recommendations on financial statement presentation for local governments, trust funds are not included in the City’s Consolidated Financial Statements. Amounts administered by the City as trust funds are as follows:

2017

2018

Assets Cash and short-term investments

$

3,929

$

4,239

Employee Benefits Fund

Cemetery Perpetual Care Fund

2017

Equity

2018

Balance, beginning of year

$

676

$

3,253

$

3,515

$

3,929

Employment insurance rebate

92 49

-

86

92

Contributions

253

404

302

Interest revenue

3

- - -

4

3

Benefits purchased

(17) (70)

(16) (64)

(17) (70)

Refunded to employees

Balance, end of year

$

733

$

3,506

$

3,929

$

4,239

68