74 / 150
Notes to the Consolidated Financial Statements
For the year ended December 31, 2014
[tabular amounts in thousands of dollars]
19
City of Surrey
3. Accounts receivable
2014
2013
General accounts receivable
$ 55,797
$ 47,257
Development Cost Charges
42,867
44,733
Property taxes
21,514
20,868
Utility rates
12,108
12,142
Due from joint venture partners
3,233
6,913
Due from other authorities
6,560
4,908
Debenture debt guarantee
2,340
2,274
Tax sale properties
254
151
$ 144,673
$ 139,246
4. Properties held-for-sale
2014
2013
Opening balance
$ 15,237
$ 14,788
Transfer from tangible capital assets
41,006
25,813
Disposal on sale
(29,449)
(26,083)
Additions
4,321
719
$ $ 31,115
$ 15,237
5. Investments
2014
2013
Investments maturing within one year
$ 344,598
$ 388,953
Investments maturing within two years
65,519
88,760
Investments maturing within ten years
172,036
195,713
Investment in partnership
304
700
$ 582,457
$ 674,126
Average portfolio yield 2.61% (2013 – 2.70%). 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 has been 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.