City of Surrey's Annual Financial Report 2021

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS CITY OF SURREY

For the year ended December 31, 2021 [tabular amounts in thousands of dollars]

2. ACCOUNTS RECEIVABLE

2021

2020

$

40,191 64,909 20,964 18,104

$

General and other accounts receivable

40,166 63,864 23,164 19,084

Development cost charges

Property taxes Utility charges

9,027 3,536 4,243

Local improvement receivable Due from other authorities MFA debt reserve fund receivable

9,539 2,152 2,684

$

160,974

$

160,653

3. INVESTMENTS

a) Portfolio Investments

2021

2020

$

439,028 282,058 290,482 1,011,568

$

Maturing within one year Maturing within two years

199,985 114,193 60,015 374,193

Maturing within three to seven years

City investments (i)

955

SCDC investments (ii) SHHS investments (iii)

955

3,100

3,601

$

1,015,623

$

378,749

i) City investments includes term deposits, GICs, bonds, and high interest savings accounts and have an average portfolio yield of 1.73% (2020 – 2.30%). All City investments can be liquidated on demand but may have associated penalties on liquidation.

ii) SCDC investments includes GICs with a maturity date of September 17, 2022 and a yield of 0.10% (2020 – 0.10%).

iii) SHHS investments includes a diversified portfolio of fixed income and equity securities held by the SHHS with an average yield rate of 6.15% (2020 – 16.69%), for the purpose of supporting programs and projects related the objectives of the SHHS.

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