June 15, 2009 - District of Mission

Municipal Forest — 5dh Year Anniversary
Notes to the Consolidated Financial Statements
for the year ended December 31, 2008
Financial Statements
125
2. Portfolio and Mortgage Investments
Portfolio and Mortgage Investments as at December 31 were comprised of the following:
Rate
Maturity
Date 2008 2007
M.F.A. Money Market Fund (a) Various N/A $27,222,253 $23,819,466
M.F.A. Intermediate Fund Various N/A 9,540,044 6,580,765
Mortgage receivable from Mission Regional
Chamber of Commerce, amortized over 25
years, payable in monthly installments of
$1,068 including interest at 5.5% per annum,
secured by general security agreement against
debtor's property and by promissory note; due
July 1, 2026. (a) 5.5% July 1, 2026 144,919 149,715
Subtotal $36,907,216 $30,549,949
Accrued Interest 657 678
Totals $36,907,873 $30,550,624
(a) Held or partially held by Development Corporation
The carrying value of securities is based on the cost method whereby the cost of the
security is adjusted to reflect investment income, which is accruing, and any decline in
market value other than temporary. The market value of the investment portfolio as at
December 31, 2008, is $36,907,873 (December 31, 2007, market value was $30,550,624).
Included in the cash balance ($4,657,425) and portfolio investments ($36,907,873) is
$15,760,118 set aside for statutory reserve funds and $7,235,682 for restricted revenues.
3. Receivables
Receivables consist of the following:
2008 2007
Accounts Receivable (includes commercial utilities) $2,310,018 $2,797,576
Development Cost Charge Receivables (note 12) 351,210 432,184
Development Corporation Receivables 15,046 20,415
Taxes Receivable (includes residential utilities) 2,453, 721 2,029,375
Total $5,129,995 $5,279.550
2008 Annual Report - District of Mission
I 34 I