2021 Citizens Report

CONSOLIDATED STATEMENT OF OPERATIONS

For the year ended December 31, 2021 The Consolidated Statement of Operations is the Public Sector version of an Income Statement, showing the government entity’s revenues and expenses realized over the course of the fiscal year. The difference between annual revenues and expenses is referred to as the annual surplus. The key point to keep in mind with this statement is that the annual surplus does not represent a cash surplus as the amounts reported under expense includes general operating costs and the annual depreciation of tangible capital assets used in service provision, but does not include the amount of cash invested in infrastructure during the year.

Budget 2021

Restated Actual 2020

Actual 2021

Revenue

Taxes for municipal purposes

$99,130,772

$94,914,905

$99,296,699

User fees and other revenue

49,956,147

45,433,301

50,497,200

Government transfers

13,873,679

11,004,973

6,803,129

Development revenue

33,683,054

13,801,911

5,016,024

Interest and investment income

2,428,004

5,286,485

2,411,236

Gaming revenues

-

323,738

780,946

Refinancing and assets disposal losses

-

(3,099,311)

(1,065,038)

Contributed tangible capital assets

20,000,000

21,023,012

16,435,062

219,071,656

180,175,258

188,689,014

Expenses

Protective services

$47,815,543

$42,305,469

$45,049,842

Transportation services

26,742,409

22,354,372

22,798,719

Recreation and cultural

26,535,488

19,197,925

21,263,223

Water utility

18,004,850

15,351,570

16,757,542

Sewer utility

14,930,985

12,899,985

13,395,349

General government

22,083,435

17,633,091

20,074,697

Planning, public health and other

7,867,485

6,744,713

7,173,527

163,980,195

136,487,125

146,512,899

52,201,889

Annual Surplus

33,662,359

55,091,461

1,206,876,517

Accumulated surplus - beginning of the year

1,259,078,406

1,259,078,406

$1,259,078,406

Accumulated surplus - end of the year

$1,292,740,765

$1,314,169,867

The 2021 Annual Report contains more detailed information on the financial position and results of operations. Copies can be obtained from the Fraser Valley library, City Hall and online www.mapleridge.ca/163/Annual-Report.

Financial Assets - Assets that could be used to discharge existing liabilities or finance future operations, such as cash receivables and portfolio investments.

Tangible Capital Assets- Assets of long-term character that are intended to continue to be held or used, such as land, buildings, machinery, furniture, and other equipment. These assets have a sigificant value and a useful life of greater than one year. Capital assets are also called fixed assets.

Net-Financial Assets - The excess of financial assets over liabilities.

Non-Financial Assets - Assets that are acquired, constructed or developed that do not normally provide resources to discharge existing liabilities, but are normally employed to deliver government services or may be consumed in the normal course of operations.

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