Annual Report 2014

Notes to the financial statements Surrey Public Library

For the year ended December 31, 2014, with comparative figures for 2013

5. Tangible Capital Assets

Disposals / Write-downs / Allocations

Balance at December 31, 2014

Balance at December 31, 2013

Additions / Adjustments

Cost

$

9,477,354 1,914,758

Books and publications

$ 9,320,050 $ 1,732,739 $ 1,575,435

Machinery and equipment

1,933,835

141,485

160,562

Total

$ 11,392,112

$ 11,253,885 $ 1,874,224

$ 1,735,997

Accumulated Amortization on Disposals

Accumulated Amortization

Balance at December 31, 2014

Balance at December 31, 2013 Amortization

$

4,883,818

Books and publications

$

4,579,392 $ 1,879,861 $ 1,575,435

835,322

Machinery and equipment

839,755

156,130

160,563

$

5,719,140

Total

$

5,419,147 $ 2,035,991

$ 1,735,998

Balance at December 31, 2014

Balance at December 31, 2013

Net Book Value

$

4,593,536 1,079,436 5,672,972

Books and publications

$ 4,740,659

Machinery and equipment

1,094,080

Total

$

$ 5,834,739

6. Government Transfers

The Library recognizes the transfer of government funding as expenses or revenues in the period that the events giving rise to the transfer occurred. The Government transfers reported on the Statement of Operations are:

2014

2013

Provincial grants: Operating

$ 859,445

$

910,698 33,507 11,894 28,689 984,788

32,696 12,401 28,689

BC One Card

Resource Sharing

Literacy and Equity

Total revenues

$ 933,231

$

71