Annual Report 2014
City of Surrey
Notes to the Consolidated Financial Statements For the year ended December 31, 2014 [tabular amounts in thousands of dollars]
3. Accounts receivable
2014
2013
$ 55,797
General accounts receivable Development Cost Charges
$ 47,257
42,867 21,514 12,108
44,733 20,868 12,142
Property taxes
Utility rates
3,233 6,560 2,340
Due from joint venture partners Due from other authorities Debenture debt guarantee
6,913 4,908 2,274
254
Tax sale properties
151
$ 144,673
$ 139,246
4. Properties held-for-sale
2014
2013
$ 15,237
Opening balance
$ 14,788
41,006
Transfer from tangible capital assets
25,813
(29,449)
Disposal on sale
(26,083)
4,321
Additions
719
$ $ 31,115
$ 15,237
5. Investments
2014
2013
$ 344,598
Investments maturing within one year Investments maturing within two years
$ 388,953
65,519
88,760
172,036
Investments maturing within ten years
195,713
304
Investment in partnership
700
$ 582,457
$ 674,126
Average portfolio yield 2.61% (2013 – 2.70%). All investments can be liquidated on demand, but may have associated penalties on liquidation.
During 2013, SCDC invested $700,000 for a 20% ownership of Bosa Properties (Bright A.1) Limited Partnership (“Bosa”). During 2014 SCDC received a $396,502 distribution from Bosa LP. Accordingly, SCDC’s investment in the partnership has been reduced to $303,498 at December 31, 2014. SCDC does not share control of Bosa and accordingly, this has been accounted for as a portfolio investment, carried at cost.
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