City of Surrey 2016 Annual Report

STATEMENT OF CHANGE IN NET DEBT SURREY PUBLIC LIBRARY

As at December 31, 2016, with comparative figures for 2015

2016 Budget

2015

2016

(Note 9)

ANNUAL DEFICIT

$ (54,000)

$ (209,592)

$ (121,955)

Acquisition of tangible capital assets Amortization of tangible capital assets

(2,100,000)

(1,778,229)

(1,870,801)

2,154,000

2,033,099

1,989,013

-

45,278

(3,743)

Acquisition of prepaid expenses

- - -

(95,086)

(34,799)

Use of prepaid expenses

33,758

95,086 60,287

(61,328)

CHANGE IN NET DEBT

$

-

$ (16,050)

$ 56,544

Net Debt, beginning of year

(142,808)

(126,758)

(142,808)

Net Debt, end of year

$ (142,808)

$ (142,808)

$ (86,264)

To be read in conjunction with the Notes and Schedules to the Financial Statements

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