2012 City of Prince George Annual Report

CITY OF PRINCE GEORGE 2012 ANNUAL MUNICIPAL REPORT
CITY OF
PRINCE GEORGE
TOURISM PRINCE GEORGE SOCIETY
Statement of Changes in Net Assets
Year ended December 31, 2012, with comparative information for 2011
Invested in
Capital Assets
Internally
Restricted
Unrestricted
Total
2012
Total
2011
Balance, beginning
of year $ 64,422 $ 353,352 $ 271,136 $ 688,910 $ 497,364
Net earnings (64,674) 2,411 111,101 48,838 191,546
Invested in capital
assets (note 6) 151,571 - (151,571) - -
Transfers - (4,623) 4,623 - -
Balance, end of
year $ 151,319 $ 351,140 $ 235,289 $ 737,748 $ 688,910
See accompanying notes to financial statements.
TOURISM PRINCE GEORGE SOCIETY
Statement of Cash Flows
Year ended December 31, 2012, with comparative information for 2011
Cash provided by (used in):
2012 2011
Operations:
Excess of revenues over expenditures $ 48,838 $ 191,546
Items not involving cash:
Loss on disposal of capital assets 2,693 -
Amortization 61,980 26,612
113,511 218,158
Changes in non-cash operating working capital:
Accounts receivable 87,313 (89,690)
Inventory (2,573) 336
Prepaid expenses (20,583) (18,268)
Accounts payable and accrued liabilities (20,788) 81,172
Deferred revenue 7,420 20,255
164,300 211,963
Financing:
Payment of obligation under capital lease (20,000) (20,000)
Investing:
Purchase of capital assets (131,571) (61,034)
Increase in cash and cash equivalents 12,729 130,929
Cash and cash equivalents, beginning of year 486,542 355,613
Cash and cash equivalents, end of year $ 499,271 $ 486,542
Cash and cash equivalents consists of:
Cash and cash equivalents $ 148,131 $ 133,190
Restricted investments 351,140 353,352
$ 499,271 $ 486,542
See accompanying notes to financial statements.
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