Courtenay Annual Report 2025 draft

The Corporation of the City of Courtenay Notes to Consolidated Financial Statements Year ended December 31, 2025

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Balance Forward

$12,094,112 $1,033,864

$2,301,656

$39,059

$15,468,690

Increases Interest

405,224 467,169

34,521 43,536

77,013

1,296

518,054 644,726

Other Contributions

134,021

-

872,393

78,057

211,034

1,296

1,162,780

Ending Balance Deferred Revenue - DCC $12,966,505 $1,111,921 $ 2,512,690

$40,355 $16,631,471

2024 Development Cost Charge Reserves

General BL #2840

Water Utility BL #2840

Sewer Utility BL #2840

Sewer Utility BL #1638

2024 Total

Balance Forward

$11,244,321

$962,245 $2,120,644

$37,352

$1 4,364,562

Increases Interest

523,031 326,760 849,791

44,821 26,798 71,619

99,546 81,466 181,012

1,707

669,104 435,024 1,104,128

Other Contributions

-

1,707

Ending Balance Deferred Revenue - DCC

$12,094,112 $1,033,864

$2,301,656

$39,059

$15,468,690

9. TRUST AND ENDOWMENT FUNDS The Cemetery Perpetual Care Fund has been assigned to the City to be administered as directed by statute. The City holds the as sets for the benefit of, and stands in fiduciary relationship to, the beneficiary. Following is a summary of the financial position and activities for 2025 and 2024, which has been excluded from the City’s consolidated financial statements.

CEMETERY PERPETUAL CARE FUND FINANCIAL POSITION

CEMETERY PERPETUAL CARE FUND FINANCIAL ACTIVITIES

2025

2024

2025

2024

Financial Assets

Revenue

Cash on Hand Term Deposits

$ 219,181 $ 196,702 Fees Levied 291,648 283,697 Interest Revenue

$ 15,813 $ 13,831 14,617 22,154 $ 30,430 $ 35,985

Net Financial Position

Excess Revenue over Expenditure

$ 510,829 $ 480,399

10. DEFERRED REVENUE – OTHER Other Deferred Revenue recorded in the Liability section of the City’s Consolidated Financial Statements consists of the revenues related to business license revenue levied and Government transfers received prior to revenue recognition criteria being met. Following is a breakdown of the change in this balance for 2025 and 2024: 2025 2024 Opening Balance $3,103,021 $3,278,368 Additions to Deferred Revenue 3,887,025 3,083,642

112 | City of Courtenay