2024 Annual Report Draft

The Corporation of the City of Courtenay

Consolidated Statement Of Change in Net Financial Assets - Statement C For the year ended December 31, 2024

2024 Budget

2024

2023

(Note 16)

ANNUAL SURPLUS (DEFICIT)

(871,200)

9,265,917

19,529,952

(34,370,300)

(14,648,795)

(6,713,027) 6,937,531 462,525 (330,800)

Acquisition of tangible capital assets Amortization of tangible capital assets

7,038,200

7,584,845

Losses and other adjustments to tangible capital assets

- - - - -

59,267

Change in asset retirement obligations

(136,132) (3,462,792)

Change in capital leases

-

35,509

25,450

Proceeds on sale of tangible capital assets Developer tangible capital asset contribution

(1,124,946)

(3,260,675)

(27,332,100)

(11,693,044)

(2,878,996)

Change in prepaid expenses Change in inventory of supplies

- -

(132,639) (271,561)

(83,582) 290,881

-

(404,200)

207,299

CHANGE IN NET FINANCIAL ASSETS

(28,203,300)

(2,831,327)

16,858,255

NET FINANCIAL ASSETS AT BEGINNING OF YEAR

50,265,329

50,265,329

33,407,074

NET FINANCIAL ASSETS AT END OF YEAR

$22,062,029

$47,434,002

$50,265,329

The accompanying notes are an integral part of these consolidated financial statements.

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City of Courtenay | 2024 Annual Report