72 / 140
62
For the year ended December 31, 2015
[tabular amounts in thousands of dollars]
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
City of Surrey
5. PROPERTIES HELD-FOR-SALE
2015
2014
Opening balance
$
31,115
$
15,237
Transfer from tangible capital assets
63,836
41,006
Disposal on sale
(61,717)
(29,449)
Additions
9,272
4,321
$
42,506
$
31,115
6. INVESTMENTS
2015
2014
Investments maturing within one year
$
390,812
$
344,598
Investments maturing within two years
91,421
65,519
Investments maturing within ten years
216,172
172,036
Investment in partnership
304
304
$
698,709
$
582,457
Average portfolio yield 2.38% (2014 – 2.61%). All investments can be liquidated on demand, but may have associated penalties on
liquidation.
During 2013, SCDC invested $700,000 for a 20% ownership of Bosa Properties (Bright A.1) Limited Partnership (“Bosa”). During 2014 SCDC
received a $396,502 distribution from Bosa LP. Accordingly, SCDC’s investment in the partnership was reduced to $303,498 at December 31,
2014. SCDC does not share control of Bosa and accordingly, this has been accounted for as a portfolio investment, carried at cost.
7. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
2015
2014
Trade accounts payable
$
55,187
$
62,346
Due to Federal Government
34,585
29,575
Employee future benefits
(note 12)
25,655
24,520
Due to joint venture partners
1,340
3,140
Contractors’ holdbacks
11,768
15,811
Due to Regional Districts
7,324
9,695
Due to Province of British Columbia
4,351
5,386
Due to other government entities
1,607
1,852
Interest on debt
2,009
2,009
$
143,826
$
154,334