2012 City of Prince George Annual Report
2012 City of Prince George Annual Report
2012 City of Prince George Annual Report
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CITY OF<br />
PRINCE GEORGE<br />
CITY OF PRINCE GEORGE <strong>2012</strong> ANNUAL MUNICIPAL REPORT<br />
TOURISM PRINCE GEORGE SOCIETY<br />
Statement <strong>of</strong> Financial Position<br />
Statement <strong>of</strong> Operations<br />
TOURISM PRINCE GEORGE SOCIETY<br />
December 31, <strong>2012</strong>, with comparative information for 2011<br />
Year ended December 31, <strong>2012</strong>, with comparative information for 2011<br />
Assets<br />
<strong>2012</strong> 2011<br />
Current assets:<br />
Cash and cash equivalents $ 148,131 $ 133,190<br />
Restricted investments (note 2) 351,140 353,352<br />
Accounts receivable 241,210 328,523<br />
Inventory 8,257 5,684<br />
Prepaid expenses 50,277 29,694<br />
799,015 850,443<br />
Capital assets (note 3) 191,319 124,422<br />
Liabilities and Net Assets<br />
$ 990,334 $ 974,865<br />
Current liabilities:<br />
Accounts payable and accrued liabilities (note 4) $ 161,261 $ 182,050<br />
Deferred revenue 51,325 43,905<br />
Scheduled cash payments for obligation under capital<br />
lease (note 5) 20,000 20,000<br />
232,586 245,955<br />
Obligation under capital lease (note 5) 20,000 40,000<br />
252,586 285,955<br />
Net assets:<br />
Invested in capital assets (note 6) 151,319 64,422<br />
Internally restricted (note 7) 351,140 353,352<br />
Unrestricted 235,289 271,136<br />
737,748 688,910<br />
$ 990,334 $ 974,865<br />
<strong>2012</strong> 2011<br />
Revenues:<br />
Advertising $ 46,733 $ 65,289<br />
<strong>City</strong> <strong>of</strong> <strong>Prince</strong> <strong>George</strong> grant - service agreement 327,000 327,000<br />
Federal government <strong>of</strong> Canada 18,368 7,280<br />
Golden Raven program - 100,000<br />
Hotel room tax grant 691,728 665,190<br />
Merchandise sales 15,663 10,249<br />
Northern lights festival 29,110 26,191<br />
Other 2,029 2,670<br />
Partnership programs 43,497 38,915<br />
Province <strong>of</strong> British Columbia 22,917 20,000<br />
1,197,045 1,262,784<br />
Expenditures:<br />
General and administrative, Schedule 1 1,104,255 961,921<br />
Golden Raven program - 97,798<br />
Mr. PG relocation 34,266 -<br />
Northern lights festival 12,225 15,254<br />
1,150,746 1,074,973<br />
Excess <strong>of</strong> revenues over expenditures before the undernoted<br />
items 46,299 187,811<br />
Other income (expense):<br />
Loss on disposal <strong>of</strong> capital assets (2,693) -<br />
Interest 5,232 3,735<br />
2,539 3,735<br />
Excess <strong>of</strong> revenues over expenditures $ 48,838 $ 191,546<br />
See accompanying notes to financial statements.<br />
See accompanying notes to financial statements.<br />
On behalf <strong>of</strong> the Board:<br />
Director Director<br />
1<br />
100 DRAFT<br />
www.princegeorge.ca<br />
2
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